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In 2008 prime cost of SOCAR oil production increased by 18.2 percent

Oil&Gas Materials 16 November 2009 16:55 (UTC +04:00)

Azerbaijan, Baku, November 16 / Trend , E.Ismaylov /

In 2008, the total prime cost of commercial oil of SOCAR (State Oil Company of Azerbaijan) was about 504 million manat compared to 436.3 million manat in 2007, SOCAR 2008 report said. The cost of one ton of oil amounted to 68.26 manat compared to 57.74 manat in 2007.

Of the total production costs, 16.7 percent accounted for the materials, 15.8 percent - wages, 20.5 percent - amortization, 16.8 percent - field tax, 1.1 percent - tax on land

Thus, the energy costs in 2008 amounted to 21 million manat, wages - about 77 million manat, amortization expense - about 100 million manat, land tax - about 82 million manat, the tax on land - 5.2 million manat, and more than 81.2 million manat was spent on materials in 2008.

Costs on oil production (ths manat)

Cost items

2008

Specific weight

2007

Specific weight

Material costs

81229

16,7

73019

17,3

Including:

- subsidiary materials

36151

7,4

33948

8

- fuel

24178

5

19827

4,7

- energy

20900

4,3

19244

4,6

Wages

76949

15,8

72576

17,2

Social insurance payments

19159

3,9

17751

4,2

Amortization payments

99990

20,5

76243

18

Other costs

209681

43,1

183380

43,3

including:

- field tax

81964

16,8

84092

19,9

- land tax

5212

1,1

5637

1,3

- other expenses

122505

25,2

93651

22,1

Prime cost of the production

487008

100

422969

100

Expenses on internal turnover of products

5537

5086

Uncompleted production

-965

345

Prime cost of trade products

482436

417538

Commercial costs

21517

18778

Total prime cost of trade products

503953

435316

Prime cost of 1 ton of oil, manat

68,26

57,74

Trade production, ton

7383,338

7556,411

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