Azerbaijan, Baku, July 30 /Trend E.Ismayilov/
Total assets of 12 interdependent subsidiaries of State Oil Company of Azerbaijan (SOCAR) exceeded 9.55 billion manat compared to 5.2 billion manat by the end of 2010, , it is indicated in the financial report of SOCAR, published on its website..
According to the report, total revenues of the 12 companies exceeded 29.87 billion manat last year compared to more than 18.22 billion manat by the end of 2010.
Total liabilities of these companies increased by 2.25 times and reach 5.44 billion manat at the end of last year.
Earnings of SOCAR subsidiaries amounted to about 579.72 million manat in 2010 compared to 379.88 million manat in 2010, the report said.
These figures are for the following companies (including SOCAR's interest in percentage and the country of registration):
Insurance Company Atəşgah (10 percent, Azerbaijan), AzBTC (23 per cent, the Cayman Islands), the Azerbaijani gas distribution company (eight per cent, the Cayman Islands), Azerbaijan John Brown (40 per cent, Azerbaijan), Azeri Drilling Company (35 per cent, Azerbaijan) AzLab (50 per cent, Azerbaijan), Caspian Geophysical (45 per cent, Azerbaijan), Caspian Pipe Coatings LLC (50 percent, Azerbaijan), Cross Caspian Oil and Gas Logistics (34 per cent, Azerbaijan), SOCAR - ASM (30 per cent of Azerbaijan) , South Caucasus Pipeline company (10 per cent, the Cayman Islands) holding Company South Caucasus gas Pipeline (10 percent, the Cayman Islands), Supra Holding (50 percent, Malta).
SOCAR includes production association Azneft (companies producing oil and gas on land and sea), Production Association Azerkimya (chemical industry), production association Azerigas (gas distribution).
SOCAR is the only producer of oil products in the country having two oil refineries and also owns gas stations in Azerbaijan, Georgia, Ukraine and Romania. It bought a large network of filling stations in Switzerland last year. SOCAR is also a co-owner of the largest Turkish petrochemical complex Petkim.
Official exchange rate on July 30 is 0.7856 AZN/USD
