SOCAR: Production cost of 1 ton of oil grows 12% last year

In 2022, the cost of producing one ton of oil in Azerbaijan was 129.45 manats ($76.15), Report informs referring to the State Oil Company of Azerbaijan (SOCAR) for 2022.

This is 13.93 manats ($8.19) or 12.1% more than in 2021.

The total cost of oil production by SOCAR includes the share of material costs equal to 3.2%, fuel - 0.2%, electricity costs - 0.9%, wages - 17%, contributions to the social insurance fund - 3.9%, depreciation of fixed assets - 19.8%, repair of fixed assets - 8.8%, maintenance of fixed assets - 4.7%, transport costs - 10%, security costs - 2.4%, mineral extraction tax - 7.9 %, other taxes - 4.9%, costs for other services - 13.8%, other expenses - 2.5%.