...

SOCAR overfulfills plan for capital investments in geological exploration

Oil&Gas Materials 6 December 2022 17:11 (UTC +04:00)
SOCAR overfulfills plan for capital investments in geological exploration
Laman Zeynalova
Laman Zeynalova
Read more

BAKU, Azerbaijan, Dec.6. Azerbaijan’s state oil company SOCAR has overfulfilled the plan for capital investments in geological exploration in 2021, Trend reports with reference to the company's annual report.

As such, the company’s 2021 capital investments were planned at 2.178 billion manat ($1.281 billion), including 257.082 million manats ($151.224 million) for drilling, 1.828 billion manats ($1.075 billion) for construction, 70.504 million manats ($41.473 million) for equipment that does not require installation, and 21.970 million manats ($12.923 million) for geological exploration.

This is while actual capital investments amounted to 1.835 billion manats ($1.079 billion) (fulfilled by 84.3%), including 245.312 million manats ($144.301 million) (95.4%) for drilling, 1.495 billion manats ($879.412 million) (81.8%) for construction, 48.945 million manats ($28.791 million) for equipment that does not require installation and 45.638 million manats ($26.846 million) (207.7%) for geological exploration.

---

Follow the author on Twitter: @Lyaman_Zeyn

Tags:
Latest

Latest