SOCAR Prevents Considerable Rise in Self Cost of Gas Production

Azerbaijan, Baku, 15 July/ Trend / In 2007, the prime cost of trade gas in 2007 was

147.8 ths manat versus 99mln manat in 2006, SOCAR said. Production costs per 1000

м3 of gas made 27.75 manat.

In 2007 the company's total gas production costs break down as follows: salary 12.3%; deductions on social insurance - 2.9%; depreciation charges - 28.6%; materials costs - 16.0%; royalty - 19.3%; land tax -0.9%.

Even if a rise of 21.0% generated on gas production cost (without mining tax), commodity production increased as 37.3%. %. In spite of considerable increases in fuel-energy costs and wage-and-salary disbursements, a sharp rise of 1000 м3 gas self-cost was prevented.

As compared with the last year, there emerged a mark-up in energy expenditures like 2760 ths Manat (96.8%), in fuel costs 3896 ths Manat (58.7%) and wage and-salary disbursements (together with social insurance contributions) 8620 ths Manat (49.8%).

Gas production costs (ths manat)
Expense items 2007 Percent age 2006 Percen t age
Material costs 27185 16 17412 15,2
including:
-Supplementary materials 11040 6,5 7923 6,9
- Fuel 10,534 6,2 6638 5,8
- Energy 5611 3,3 2851 2,5
Salary 20942 12,3 13982 12,3
Deductions on social insurance 4952 2,9 3292 2,9
Depreciation charges 48802 28,6 35009 30,7
Other costs 68620 40,2 44354 38,9
including:
- Royalty 32880 19,3 13093 11,5
- Land tax 1663 0,9 1049 0,9
- Other costs 34077 20 30212 26,5
Prime cost of total production 170501 100 114049 100
Production turnover costs 22686 15090
Full prime cost of trade product 147815 98959
Prime cost of of gas, manat 27,75 25,5
Trade production, 5327069 3880910
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