SOCAR: Average cost of oil production is 20 USD per barrel

Baku. 25 January. REPORT.AZ/ Prime cost of oil production in Azerbaijan is below 25 USD per barrel.

Report informs referring to SOCAR, Elshad Nasirov, the company's Vice-President for investments and marketing said in the interview to SRF TV channel.

'It is no secret that we are producing oil both onshore and offshore. Prime cost of oil production is various. Of course, oil production from onshore old fields requires more expenses than production from offshore new fields. Thus, oil production realizes for average 20 USD', E.Nashirov said.