Real sector

Р°) Oil and Gas production

Oil and gas production by SOCAR in January to July 2006

Oil

(ths. tons)

July

June

January to July

2006

2006

2006

2005

%

Total

753,1

733,0

5203,5

5230,0

0,5

OGPUs of SOCAR

650,4

633,7

4559,7

4594,2

0,8

JVs and OCs

102,7

99,3

643,8

635,8

1,3

Gas

(in mln cu m)

Total

498,15

522,3

3883,71

3053,7

27,2

OGPUs of SOCAR

345,90

321,8

2259,21

2207,6

2,3

JVs and OCs

8,97

9,4

66,35

76,4

13,2

AIOC

124,20

183,4

1520,65

769,7

97,6

Source: SOCAR

In January to July 2006 the State Oil Company of Azerbaijan (SOCAR) produced 5,203.5 tons of oil from onshore and offshore fields or 26,500 less as compared 2005. The onshore and offshore oil and gas producing units (OGPU) of the SOCAR produced a total of 4,559,700 tons of oil, or 34,500 tons (or 0.8%) down as compared to 2005.

Over the first six months of 2006 the foreign companies under the joint ventures and operating companies lifted 643,800 tons of oil, or 800 tons (or 1.3%) more as compared 2005.

In this period gas production amounted 3,883,71bn cu m of natural gas, or 830 million cu m (or 27.2%) more than 2005. The OGPUs produced 2,259,21 tons of gas, or 51.6 million cu m more than 2005. JVs and OCs produced 66.35 million cu m of gas in this period, or 10.1 million cu m less than 2005. The Azerbaijan International Operating Company (AIOC) produced 1,520,65 cu m of associate gas, or 751 million cu m of fuel more as compared 2005.

There are 57 oil nd gas fields in Azerbaijan, including 18 offshore. The personnel pf the SOCAR numbers 59,170 people.

b) Oil and Gas refinery

Production of major types of oil products in January to July 2006

In ths tons

January-July 2006

January-July

2005 %

Stock 01.08.06

Automobile petroleum

532,5

106,5

32,6

Aviation kerosene

449

106,4

15,2

Fuel mazut

1803,4

104,0

59,5

Diesel fuel

1310,9

115,5

57,8

Oil bitumen

78,7

138,1

0,8

Oil coke

Lubricating oil

35,1

178,2

14,3

Naphta

191,7

93,3

0,5

Source: State Statistics Committee

The Baku Oil Refineries, parts of the State Oil Company of Azerbaijan (SOCAR), former Azerneftyanacag and Azerneftyag, produced 4,401,300 tons of various oil products during January-July 2006, which is 9.8% more of the same period of 2005.

Particularly, production of gasoline grew by 6.5%, kerosene 6.4%, diesel fuel 15.5%, mazut 4% and naphta 4%. Growth was achieved in the production of lubricating oil 78.2% and oil bitumen 38.1% in January-July 2006 as compared to the same period of the last year.

c) Sale

The Marketing and Economic Operations Department (MEPD) of the State Oil Company of Azerbaijan Republic (SOCAR) has exported 1.99 mln tones of oil products that is equal to the same period of 2005.

In July, 312.75 thousand tones of oil products were exported from oil refining plant of Azerbaijan. The most volume of the gross exportations was reported at the share of diesel oil, which reached 904.52 thousand tones, mazut 715.66 th. t., gasoline 170.41 th. t., aviation kerosene 155.46 th. t., naphtha 29.96 th. t., lubricating oil 14.7 th. t. and bitumen 9.1 th. t.

The most expensive oil product in July was gasoline 1 t. for $754,75. The price of aviation kerosene in July was $691.54, diesel - $615.99, naphtha - $613.60, mazut - $328.93.

Export of oil products in January July 2006 (in ths tons)

Export of oil products from Azerbaijan in January to June 2006 (in ths tons)

Export of oil products from Azerbaijan in January to June 2006 (in ths tons)

Export of oil products from Azerbaijan in January to June 2006 (in ths tons)

Export of oil products from Azerbaijan in January to June 2006 (in ths tons)

Export of oil products from Azerbaijan in January to June 2006 (in ths tons)

Diesel oil

121,743

155,631

904,526

$615,99

(-$6,15)

Mazut

136,439

103,898

715,661

$328,93

(+$13,07)

Gasoline

39,167

26,043

170,410

$754,75 (+$46,06)

Aviation kerosene

28,332

20,611

155,464

$691,54 (+$15,36)

Naphtha

29,965

$613,60

(+$24,01)

Lubricating oil

3,396

4,377

14,701

Bitumen

2,571

1,415

9,109

2. Power Engineering

Over 1.7 billion kW/h of electricity was generated in the system of Azerenerji JSC in July 2006, or 6.9% more than 2005.

Azerenerji announced that 1.5 billion kW/h of entire generation fell on thermo-power stations, 0.2 billion kW/h hydro-power stations.

As a result of energy exchange in July 77.9 million kW/h was imported from Russia, 37 million from Iran, and 17 billion kW/h from Turkey.

Since the beginning of the year Azenerji has generated 14.2 billion KW/h electricity, including 12.4 billion KW/h generated by the thermo-power stations. Energy import exceeded 1.06m kW/h, or 12% down as compared to last year.

3. Chemical complex

During the period of January to July 2006, State Enterprise Azerkimya kept raising chemicals production. The Azerbaijani State Statistics Committee told Trend the production of hydrate of sodium rose by 32.7%, propylene by 46.9%, nitrogen by 48.2%, ethylene by 43.5%, polyethylene by 44.6 over year.

Production of main chemicals in January-July 2006

Production

Production in January-July 2006

Annual increase, %

, %

Amount of remains of ready production as of 01.08.2006

Nitrogen (mln m3)

(mln m3)

6,9

148,2

hydrate of sodium (thous ton)

19,7

132,7

0,7

Propylene (thous ton)

(thous ton)

24

146,9

0,6

Ethylene (thous ton)

45,5

143,5

Polyethylene (thous ton)

(thous ton)

44,1

144,6

1

Isopropyl alcohol (thous ton)

14,3

98,3

1,5

Paint-and-lacquer materials (ton)

469,3

44,7

1 050,4

Clorine oxide (thous ton)

(thous ton)

4,1

113,9

0,2

Source: State Statistics Committee

Export of oil products from Azerbaijan in January to June 2006 (in ths tons)

Export of oil products from Azerbaijan in January to June 2006 (in ths tons)

Export of oil products from Azerbaijan in January to June 2006 (in ths tons)

Export of oil products from Azerbaijan in January to June 2006 (in ths tons)

Export of oil products from Azerbaijan in January to June 2006 (in ths tons)

Diesel oil

121,743

155,631

904,526

$615,99

(-$6,15)

Mazut

136,439

103,898

715,661

$328,93

(+$13,07)

Gasoline

39,167

26,043

170,410

$754,75 (+$46,06)

Aviation kerosene

28,332

20,611

155,464

$691,54 (+$15,36)

Naphtha

29,965

$613,60

(+$24,01)

Lubricating oil

3,396

4,377

14,701

Bitumen

2,571

1,415

9,109

2. Power Engineering

Over 1.7 billion kW/h of electricity was generated in the system of Azerenerji JSC in July 2006, or 6.9% more than 2005.

Azerenerji announced that 1.5 billion kW/h of entire generation fell on thermo-power stations, 0.2 billion kW/h hydro-power stations.

As a result of energy exchange in July 77.9 million kW/h was imported from Russia, 37 million from Iran, and 17 billion kW/h from Turkey.

Since the beginning of the year Azenerji has generated 14.2 billion KW/h electricity, including 12.4 billion KW/h generated by the thermo-power stations. Energy import exceeded 1.06m kW/h, or 12% down as compared to last year.

3. Chemical complex

During the period of January to July 2006, State Enterprise Azerkimya kept raising chemicals production. The Azerbaijani State Statistics Committee told Trend the production of hydrate of sodium rose by 32.7%, propylene by 46.9%, nitrogen by 48.2%, ethylene by 43.5%, polyethylene by 44.6 over year.

Production of main chemicals in January-July 2006

Production

Production in January-July 2006

Annual increase, %

, %

Amount of remains of ready production as of 01.08.2006

Nitrogen (mln m3)

(mln m3)

6,9

148,2

hydrate of sodium (thous ton)

19,7

132,7

0,7

Propylene (thous ton)

(thous ton)

24

146,9

0,6

Ethylene (thous ton)

45,5

143,5

Polyethylene (thous ton)

(thous ton)

44,1

144,6

1

Isopropyl alcohol (thous ton)

14,3

98,3

1,5

Paint-and-lacquer materials (ton)

469,3

44,7

1 050,4

Clorine oxide (thous ton)

(thous ton)

4,1

113,9

0,2

Source: State Statistics Committee
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