Baku, Azerbaijan, Nov. 3
By Maksim Tsurkov - Trend:
The prime cost of oil produced by SOCAR in 2014 was valued at 91.63 manats per ton, which is 1.33 manats (1.4 percent) less than in 2013, according to SOCAR's 2014 economic activity report, as posted on its website.
The report further said that the total expenditure of the SOCAR company connected with oil exceeded 658.35 million manats (665.73 million manats in 2013).
Further, the costs for obtaining marketable products amounted to about 621.49 million manats, compared to 630.15 million manats in 2013.
Also reported was the volume of tank oil at SOCAR in 2014, reaching about 6.78 million tons, which was 0.06 percent more than in 2013.
SOCAR's largest expenditures in 2013 accounted for the use of transport and vehicles (16.8 percent), salaries (16.4 percent), depreciation of fixed assets (15.6 percent), overhauls (12.9 percent), and payments of income tax (11.4 percent).
SOCAR extracted 8.3 million tons of oil using its own facilities in 2014 while, together with foreign companies, 33.7 million tons of oil was pumped, the report said. The index reached 42 million tons throughout the country. These indices were 8.3, 35.2 and 43.5 million tons in 2013.
Additionally, the prime cost of producing 1,000 cubic meters of gas by SOCAR in 2014 reached 37.19 manat, which is 3.71 manat (11.1 percent) more than in 2013.
SOCAR's total expenditure, as part of gas production, exceeded 242.81 million manat, compared to about 226.44 million manat in 2013. Also, the expenditure for commercial products exceeded 208.05 million manat, compared to 195.24 million manat in 2013. SOCAR's marketable gas volume exceeded 5.59 b c m in 2014 (compared to over 5.83 b c m in 2013).
SOCAR independently extracted 7 b c m of gas in 2014 while, working with foreign companies, reached 22.6 b c m. Total gas production volume in the country amounted to 29.6 b c m. In 2013, these figures totaled 7.1, 22.3 and 29.4 b c m in 2013.
SOCAR includes Azneft, whose companies produce oil and gas offshore and onshore, Azerkimya, its chemical industry, and Azerigas production associations.
Moreover, SOCAR includes a number of processing enterprises, service enterprises, along with companies involved in geophysical and drilling operations. SOCAR has assets in Georgia, Turkey and Europe.
SOCAR's total assets reached 24.07 billion manat in 2014, compared to about 23.05 billion manat in 2013, and its authorized capital reached 1.5 billion manat, compared to 1.32 billion manat in 2013.
As of Nov.3, the official exchange rate was 1.0491 AZN/USD.
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