Over 3 quarters oil & gas companies repatriate $1,532,3m profit

Oil&Gas Materials 17 December 2005 13:06 (UTC +04:00)

$2,589,5m was repatriated from the country over three quarters of 2005. The repatriation by AIOC grew by 2.1. Oil and gas companies repatriated $1,532,3m profit against $940.8m over first half-year of 2005, $724.4m - over three quarters of 2004, $1,154,397m - over 2004, the National bank of Azerbaijan told Trend.

Over three quarters of 2005 direct investment in the oil and gas sector comprised $2791m with $170.4 investment in other sectors. The investment decrease in oil and gas sector made up 9.1% ac compared 2004.

Over this period foreign investment comprised $3,653,8m against $3,416,6m (+6.1%) as compared 2004. The direct investment made up only $2,961,4m against $3,154m (-6.1%) as compared 2004.

Over reporting period $93.4m foreign investment and $86.6m internal investment (SOCAR) was put in the Baku-Tbilisi-Ceyhan project.