SOCAR reveals cost of gas production
Baku, Azerbaijan, Sept. 26
By Maksim Tsurkov – Trend:
Production cost of 1,000 cubic meters of gas by Azerbaijan’s state oil company SOCAR amounted to 46.77 manats in 2016, which is 7.03 manats (17.7 percent) more than in 2015, said SOCAR’s report on economic activity in 2016 posted on its website.
The total volume of SOCAR’s expenditures within the gas production exceeded 257.92 million manats in 2016 (against 240.14 million manats in 2015). Expenses on commercial output exceeded 226.28 million manats (against 211.16 million manats in 2015). The volume of SOCAR’s commercial gas last year exceeded 4.84 billion cubic meters (against slightly more than 5.31 billion cubic meters in 2015).
In 2016, SOCAR independently produced 6.27 billion cubic meters of gas, and 23.13 billion cubic meters together with foreign companies. The total gas production in Azerbaijan amounted to 29.4 billion cubic meters. In 2015, these volumes were respectively 6.87 billion cubic meters, 22.13 and 29 billion cubic meters.
The total assets of SOCAR in 2016 amounted to 53.01 billion manats compared to about 39.95 billion manats in 2015. The total capital of SOCAR in 2016 amounted to 17.7 billion manats compared to 14.65 billion manats in 2015. At the same time, the authorized capital of SOCAR amounted to 1.8 billion manats in 2016 compared to 1.42 billion manats in 2015.
SOCAR includes such production associations as Azneft (enterprises producing oil and gas onshore and offshore), Azerikimya (chemical enterprises) and Azerigas (distributor of gas), as well as oil and gas processing plants, service companies, and the facilities involved in geophysical and drilling operations.
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