SOCAR’s gas output cost increases

Oil&Gas Materials 1 December 2016 13:43 (UTC +04:00)

Baku, Azerbaijan, Dec. 1

By Maksim Tsurkov – Trend:

The cost of output of 1,000 cubic meters of gas produced by Azerbaijan’s state oil company SOCAR was 39.74 manats (1.7318 AZN/USD on Dec. 1) in 2015, which is by 2.55 manats (6.8 percent) more than in 2014, said a report on SOCAR’s economic activity in 2015, posted on its website.

Total volume of SOCAR’s expenditures related to gas output exceeded 240.14 million manats, as compared to 242.81 million manats in 2014. Expenditures for marketable goods exceeded 211.16 million manats, as compared to 208.05 million manats in 2014. The volume of SOCAR’s tank gas exceeded 5.31 billion cubic meters in 2015, as compared to more than 5.59 billion cubic meters in 2014.

In 2015, SOCAR produced 6.87 billion cubic meters of gas independently, 22.13 billion cubic meters – together with foreign companies, while the total volume of the gas output was 29 billion cubic meters in the country. These volumes were, respectively, 7.2, 22.3 and 29 billion cubic meters 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.


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