50% Increase of Production of Oil Field Equipment in Azerbaijan
Azerbaijan, Baku / corr. Trend S.Babayeva / Nariman Boyukkishi, Senior Economist of Azneftkimyamash Open-Type Joint Stock Company, stated that in January to March Azneftkimyamash produced oil field and geological-exploration equipment, instruments and spare parts in the amount of AZN 6.5mln, an increase of 46.3% against the first quarter of 2006.
Boyukkishi said that the Sattarkhan machine building plant has been the most productive enterprise during this period. Despite releasing some of its workshops, the plant manufactured output worth AZN 1.2mln.
Production by Baki Fehlesi Plant totalled AZN 900,000, Sabunchi AZN 658,000, Baku machine-building plant AZN 605,000 and Surakhani Machine-Building Plant AZN 672,000.
Since the beginning of the year the cost of products sold by Azneftkimyamash has totalled AZN 5mln, 75% more than in January to March 2006. In 2007 the production is forecasted to be AZN 25mln.
Azneftkimyamash was established from Azneftkimyamas State Company in compliance with the Presidential Decree dated 22 March 2001. The company includes 14 machine-building plants, 4 scientific research and development institutes.