The total production of oil and gas condensate was 700,500 bpd.

The rise in the oil sector was 0.6 percent, up from a 6.2 percent contraction in January 2021, while the non-oil sector grew by 8.2 percent compared to 0.1 percent growth a year earlier.

Total gas production in the country is expected to reach 45-46 bcm this year.

The ex-Soviet state is on the EU list of countries to be considered to ensure energy supplies for the 27-nation bloc.

Natural gas production at the major Shah Deniz gas field was 23 billion standard cubic metres (bcm) in 2021, up from around 18.1 bcm in 2020.

Sources at SOCAR told the Tribune that they viewed the talks with Hungary as a means of soothing European Union concerns that Budapest was significantly boosting shipments of Russian gas.

The company projects to produce 122,400 ounces of silver this year.

The affirmation reflected Fitch's unchanged view on SGC's $2 billion Eurobonds maturing in 2026 fully guaranteed by Azerbaijan.