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SOCAR significantly increases investments

Oil&Gas Materials 16 November 2009 20:49 (UTC +04:00)

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

In 2008, capital investments by SOCAR (State Oil Company of Azerbaijan) totaled about 914 million manat compared to 768 million manat in 2007, company's 2008 report said.

Of the total capital investments, about 232 million manat (58.8 percent more than projected) accounted for drilling, around 518 million manat (10.1 percent less) - construction, more than 162 million manat (30.9 percent more) - equipment that does not require installation, more than 2.6 million manat (23 percent more) - exploration.

Capital investments (thous. manat)

2008

2007

Difference

Capital investments in total

913936,3

767999,4

145936,9

Including:

Drilling

231639,4

119427,3

112212,1

- exploration

7738,8

4169,1

3569,7

- exploitation

223900,6

115258,2

108642,4

Geological exploration  

2642,7

1457,9

1184,8

Construction

517552,6

461268,5

56284,1

Equipment that does not require installation

162101,6

185845,7

-23744,1

Industrial production

816804,2

686852,1

129952,1

Non-industrial production

97132,1

81147,3

15984,8

Including:

- housing construction

24665,3

21160,5

3504,8

- communal construction

1362,7

2822

-1459,3

- education

16502,5

10147,6

6354,9

- medical construction

53655,7

47017,2

6638,5

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