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SOCAR announces consolidated financial report on 2010

Oil&Gas Materials 29 July 2011 20:43

Azerbaijan, Baku, July 29 /Trend/

The total capital of the State Oil Company of the Azerbaijan Republic (SOCAR) amounted to over 8.16 billion manat in 2010 compared to more than 8.04 billion manat in 2009, the company's financial report on 2010 reads.

Based on the report, SOCAR's total assets amounted to about $15.73 billion in 2010 compared to about $15 billion in 2009. More than 4.87 billion manat fell to current assets and more than 10.85 billion manat - long-term assets.

Over 1 billion manat fell to cash and cash equivalents compared to 773.51 million manat in 2009, more than 2.4 billion manat -the accounts receivable compared to more than 2.11 billion manat in 2009.

More than 8.24 billion manat fell to the fixed assets compared to about 8billion manat in 2009, 248.87 million manat- investments in joint ventures and about 351.1 million manat - investments in related companies.

The company's long-term liabilities totaled about 3.4 billion manat compared to 3.9 billion manat in 2009.

The company's current liabilities amounted to about 4.2 billion manat in 2010 compared to nearly 3 billion manat in 2009. In particular, accounts payable amounted to over 2.44 billion manat compared to about 2.1 billion manat in 2009.

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