SOCAR’s oil output cost rises
Baku, Azerbaijan, Nov. 30
By Maksim Tsurkov – Trend:
Cost of oil, produced by Azerbaijan’s state oil company SOCAR, stood at 94.74 Azerbaijani manats (1.7318 AZN/USD on Nov. 30) per ton in 2015 that is by 3.11 manats (3.4 percent) more than in the same period of 2014, said a report on SOCAR’s economic activity in 2015, posted on its website.
The report says that total amount of SOCAR’s expenditures related to oil output exceeded 697.72 million manats (658.47 million manats in 2014).
Expenditures for obtaining marketable products amounted to about 639.32 million manats, as compared to 621.49 million manats in 2014.
The volume of SOCAR’s marketable oil was about 6.75 million tons in 2015 that is by 0.05 percent less than in 2014.
According to the report, SOCAR produced 8.16 million tons of oil independently in 2015, 31.16 million tons – together with foreign companies, while total oil output in the country was 41.6 million tons. These figures were, respectively, 8.3, 33.7 and 42 million tons in 2014.
Total assets of SOCAR amounted to 39.95 billion manats in 2015, as compared to about 24.07 billion manats in 2014. Total capital of SOCAR amounted to 14.65 billion manats in 2015, as compared to 11.06 billion manats in 2014. Moreover, authorized capital of the company totaled 1.42 billion manats, as compared to 1.5 billion manats in 2014.
SOCAR includes such production associations as Azneft (the enterprises producing oil and gas onshore and offshore), Azerikimya (the chemical enterprises) and Azerigas (distributes gas produced in the country), as well as oil and gas processing plants, service companies, and the facilities involved in geophysical and drilling operations.
Follow the author on Twitter: @MaksimTsurkov