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SOCAR Publicizes Increase in Prime Cost of Gas Production

Oil&Gas Materials 11 July 2007 19:15 (UTC +04:00)

Azerbaijan, Baku / Trend corr S. Aliyev / In 2006, the total prime cost of commodity gas of the State Oil Company of Azerbaijan Republic (SOCAR) made up AZN 99mln, which is AZN 26.1mln more than in 2005. The prime cost of 1,000cu m of gas comprised AZN 25.5, an additional AZN 2.27 more than in 2005, according to SOCAR's final 2006 report.

In 2005, the total prime cost of commodity gas was AZN 72.9mln. The prime cost of 1,000cu m of gas was AZN 23.23.

From total expenditures for production of gas, 12.3% fell on salaries, 2.9% on social needs, 30.7% on amortization, 15.2% on material expenditures, 11.5% on tax on trade (royalty), and 0.9% on land-tax.

According to the report, the prime cost predominantly increased due to a rise in salaries and social assignments, as well as material expenditures (caused by rise in prices for energy). According to SOCAR, salaries and social assignments in gas production increased by AZN 5.14mln (42.3%) and in energy by AZN 858,000 (14.8%).

Expenditures for Gas Production, in ths of AZN
Expenditures 2006 Specific weight 2005 Specific weight
1. Expenditures for materials 17412 15,2 16347 17,6
including:
- Subsidiary materials 7923 6,9 7424 8
- Fuel 6638 5,8 5780 6,2
- Energy 2851 2,5 3143 3,4
2. Salaries 13982 12,3 9960 10,7
3. Assignments for Social Insurance 3292 2,9 2178 2,4
4. Assignments for Amortization 35009 30,7 30675 33,1
5. Other Expenditures 44354 38,9 33520 36,2
including:
- Tax on Trade 13093 11,5 11125 12
- Land-Tax 1049 0,9 1152 1,3
- Other Expenditures 30212 26,5 21243 22,9
6. Total Production Expenditures 114049 100 92680 100
7. Expenditures not Included into Total Production 0 0
8. Prime Cost of Production of Total Products 114049 92680
9. Expenditures of Internal Turnover of Production 15090 13517
10. Non-Completed Production 98959 79163
Prime Cost of 1,000 cu m of gas, in AZN 25,5 23,23
Commodity Production, in tons 3880910 3408243
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