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Direct Price of Gas Production by SOCAR Rose 11% in 2005

Oil&Gas Materials 11 September 2006 11:56 (UTC +04:00)

In 2005 the direct price of the commodity gas made up 72.9m AZN per 1000 cu m at the SOCAR. The direct cost of gas was 23.23 AZN per 1,000 cu m, Trend reports citing annual report of the State Oil Company of Azerbaijan for 2005. Production expenses for 1000 cu m of gas increased 2.27 AZN (10.8%).in 2005 as compared to 2004.

10.7% of total expenses fell on wages, 2.4% - social needs, 33.1% - amortization, 17.6% financial, 12% - royalties, 1.3% - rents, 22.9% - other expenses.

The report noted that increase of the direct price was a result of rise of salaries and financial expenses (in particular, increase of the prices of energy resources). SOCAR said that wages for gas production rose by 2,600 AZN (27.4%) and material expenses for gas 1,417 AZN (12.5%).

The comparative table of the direct price of the SOCARs gas in 2005:

Expenses

2004

2005

Difference, %

Expenses for materials

14930

16347

9,5

Including subsidiary materials

7534

7424

-1,5

Fuel

4671

5780

23,7

Energy

2725

3143

15,3

Wages

7360

9960

35,3

Remittances for social security

1990

2178

9,4

Amortization remittances

28817

30675

6,4

Other expenses

30191

33520

11,0

Royalties

8290

11125

34,2

Rents

1370

1152

-15,9

Other expenses

20531

21243

3,5

Total production expenses

83288

92680

11,3

Expenses not included in gross product

33

0

-

Direct price of gross production

83255

92680

11,3

Internal circulation expenses

10071

13517

34,4

Full direct price of commodity product

73184

79163

8,2

Direct price of 1000 u m of gas in AZN

20,96

23,23

10,8

Total production

3880937

3823959

-1,5

Commodity production

3491680

3408243

-2,4

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