The State Oil Company of Azerbaijan (SOCAR) has completed 2005 with revenues totaling AZN 1195.5 million, Trend reports with reference to the report of SOCAR for 2005. Amount of the revenues has increased by AZN 134 mln as comprised with 2004.
As a result of 2005, several enterprises of SOCAR worked with losses amounting AZN 41.
1 mln. They include Drilling Department of Azneft Production Unit AZN 36.3 mln, Geology Department AZN 4.3 mln and scientific and trade enterprises of SOCAR AZN 0.5 mln.
Despite this, SOCAR, as a largest payer to the state budget of the company, is continuing to annually increase the amount of transfers. In 2005, SOCAR paid finance that is AZN 159.1 mln more than 2004, when AZN 385.9 mln had been paid to the state budget. In 2005, AZN 545 mln was transferred to the state budget.
In addition, AZN 130 mln was transferred to the state budget in indirect subsidies.
In 2004, AZN 25 mln was transferred to the State Fund for Social Protection of Population. In 2005, this indicator amounted to AZN 30.2 mln.