SOCAR revenues on countries announced

Baku. 7 July. REPORT.AZ/ Revenues of the State Oil Company of Azerbaijan Republic (SOCAR) in Switzerland in 2016 increased by 70% compared to previous year and amounted to 40.438 bln AZN.

Report informs, shows consolidated financial statement of the company in accordance with International Financial Reporting Standards 2016. The statement was audited by Ernst & Young (EY).

The company's revenues from Switzerland last year were 78% of total revenues.

SOCAR revenues in Azerbaijan increased by 12% up to 5.171 bln AZN, in Turkey - 35% to 3.479 bln AZN, in UAE - 22% up to 1,156 bln AZN, in Georgia - 40% to 1,046 bln AZN. Incomes in other countries increased by 71% to 615 mln AZN.

SOCAR's total revenues increased by 57% to 51.905 bln AZN last year.