SOCAR declares prime cost of oil production

17:41 - 7.10.2021

October 7, Fineko/abc.az. The prime cost of production of a ton of oil in 2020 amounted to 118.85 manats (4.97 manats or 4.0% less against 2019), ABC.AZ reports with reference to SOCAR's annual report.

As part of company’s total production costs on oil extraction, the share of material costs is 3.4%, wage costs 16.4%, social insurance transfers 3.4%, depreciation deductions 19.5%, repair costs 9.1%, maintenance costs 5.1%, transportation costs  15.4%, mineral extraction tax 8.1%, other taxes 5.7%. Taking into account the transportation of oil and other expenses of the producer company, the total cost of a ton of oil amounted to 153.56 manats.

 

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