REAL SECTOR

Р°) Production

Oil and gas production by SOCAR in January to August of 2005

Oil

(ths. tons)

August 2005

January-August 2005

January to August 2004

Fact

Plan

fact

%

Fact

%

Total

761,2

5826

5991,2

102,8

5989,4

100

OGPU

678,2

5293,8

5347,1

101

5375,3

99,5

Gas

(in mln. cu m )

83

532,2

644,1

121

614,1

104,9

Total

SOCAR

535,9

3332,3

3589,6

107,7

3320,8

108,1

OGPU

330,8

2595,4

2614,8

100,7

2669

98

AIOC

323,7

2535,6

2546,4

100,4

2585,4

98,5

Total

7,1

59,8

68,4

114,4

83,6

81,8

OGPU

205,1

736,9

974,8

132,3

651,8

149,6

Source: SOCAR

No principle changes were observed in the structure of oil production. Data by SOCAR testify on inconsiderable drop in oil and gas production In January to August the SOCAR lifted 5991,200 tons of oil from the onshore and offshore fields, or 1,800 tons down as compared to 2004. The onshore and offshore oil and gas producing units (OGPUs) of the SOCAR produced a total of 5347,100 tons of oil, or 28,200 tons (or 0.5%) down as compared to 2004.

In January to August 2005 the foreign companies under the joint ventures and operating companies lifted 644,100 tons of oil, or 30,000 tons (or 4.9%) more than 2004.

In January to August 2005 gas production amounted 3589.6 million cu m of natural gas, or 268.8 million cu m (or 8.1%) more than 2004. 2546.4 million cu m of gas production fell on the SOCAR, which is 39 million cu m less than 2004. JVs and OCs produced 68.4 million cu m of gas in this period, or 15.2 million cu m less than 2004. The Azerbaijan International Operating Company (AIOC) produced 974.8 million cu m of associate gas, or 323 million cu m of fuel more than 2004.

b. Refinery

Production of major types of oil products in January to August 2005

In ths tons

January to August 2005

As compared to 2004, in %

Remainders as of 01.08.05

Gasoline

579,7

106,8

10,2

Aviation kerosene

475,6

112,3

12,3

Fuel mazut

1940,3

110,7

30,7

Diesel fuel

1296,3

107,6

36,2

Oil bitumen

72,4

121,5

1

Oil coke

Lubricants

27,4

99,3

17,7

Naphta

232,3

120,7

0,9

Source: State Statistics Committee
Baku-based oil refinery plants, including the Heydar Aliyev State Oil Company of Azerbaijan (SOCAR) and Azerneftyag, increased the production of major oil products in January to August 2005 as compared to 2004 and produced 4623,900 tons of different oil products, or 422,000 tons (or 10%) or more than 2004.

The production of gasoline went up by 6.8%, avia kerosene -12.3%, fuel mazut вЂ" 10.7%, diesel mazut вЂ" 7.6%, oil bitumen вЂ" 21.5%, naphta -6.8%, the State Statistics Committee told Trend. Only production of the lubrications decreased by 0.7%.

РІ) РеаР"изация

In August the export of oil products by DMEO SOCAR was 46,500 tons, what is for 107,900 tons less of July 2005. The main reason for the oil products export drop in August against July is ceasing of the mazut export from Heydar Aliyev Oil Refinery.

According to SOCAR, in August the oil products were sold at the following prices in the world market (FOB MED (Italy)): motor gasoline вЂ" $622,57/t (+$78,06/t against July price), jet fuel вЂ" $621,50/t ($52,81/t), diesel fuel - $568,86/t ($49,04/t), the price of 1 ton of mazut was $288,35/t ($16,70/t).

In compliance with the 2004 payment sheet of Azerbaijan, last year the country exported $3096.3m worth of oil and oil products, or 82.7% of export ($3743m). According to the statistics of the National Bank of Azerbaijan, in 2004 crude export from the country made up $2393.1 million, of which 1779.2 fell on the AIOC, including $1459.1 million of profit oil of foreign partners and $320.1 million вЂ" Azerbaijan. SOCAR and different producers exported oil for $613.9m.

Export of oil products from Azerbaijan in January to August 2005 (in ths tons)

Oil products

Aznefteyanajag

Azneftyag

August

В± July

JanвЂ"Aug

August

В± July

JanвЂ"Aug

Diesel fuel

20,7

-27,5

271

56,6

2,5

510,7

Kerosene

1,4

-7,9

104,3

вЂ"

вЂ"

вЂ"

Gasoline

21,3

-10,3

210,2

вЂ"

вЂ"

вЂ"

Butan

2,4

2,2

9,2

вЂ"

вЂ"

вЂ"

Coke

вЂ"

вЂ"

вЂ"

вЂ"

вЂ"

вЂ"

Mazut

0,6

-64,3

65,5

-

-

198,2

Bitumen

вЂ"

вЂ"

вЂ"

2,3

0,4

17,8

Lubricant

вЂ"

вЂ"

вЂ"

1,2

0,4

11,7

Naphta

вЂ"

вЂ"

вЂ"

вЂ"

вЂ"

вЂ"

Other oil products

вЂ"

вЂ"

вЂ"

1,2

4,7

27

Total

46,4

-107,8

660,2

61,3

-2,2

765,5

Power engineering

Azerenergy produced over 14,828 billion kW/hour of energy in January to August 2005. Hydropower stations produced 1,931 million kW/hour of energy (down 9.4%), while the thermo-power stations вЂ" 12,897bn KW/h

In August Azernergy generated 1.63 billion KW/h energy. Hydropower stations produced 168 million kW/hour of energy (down 9.4%), while the thermo-power stations вЂ" 1.462bn KW/h.

3. Химический РєРѕРјРїР"екс

Azerkimya state company increased production of some chemical products, particularly, caustic sodium (4%), ethylene (0.7%) and oxide of chlorine (37%) and polyethylene (1.6%) in January to August 2005 as compared to 2004, the State Statistics Committee told Trend.

Production of major types of chemical products in January to August 2005

Products

Production in January-August 005 1000 ton

As compared to

January-August 2004, %

Volume of ready products for

01.09.2005

Nitrogen (m. cub. m.)

5,4

99,1

Caustic sodium (1000 ton)

17

104

0,2

Propylene (1000 ton)

19,9

93,4

1

Ethylene (1000 ton)

38,4

100,7

Polyethylene (1000 ton)

37

101,6

0,9

Isopropyl alcohol (1000 ton)

27,8

92,5

4,3

Paintwork material (ton)

1235,5

142,8

198,7

Oxide of chloride (1000 ton)

6,3

137

1,1

Р�СЃС'очник: Р"РѕСЃРєРѕРјСЃС'Р°С'

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