SOCAR'S PROFIT OIL UNDER ACG TO COMPRISE 7.5-7.7M BARRELS IN 2004

Baku, IAA "Trend" December 23 corr. P.Kesamanski
"SOCAR's Profit oil comprised 8.1 million barrels (1.1 million tons) valued at $200-220 million in 2003 under the Azeri-Chiraq-Guneshli fields," David Woodward, BP-Azerbaijan President, told a news conference on December 22.
Woodward said the forecast for 2004 was 7.5-7.7 million barrels of oil.
Collection of transit fees for the exploitation of the Baku-Supsa oil Pipeline made up $13 million in Azerbaijan in 2003 and a similar amount is forecast for 2004.
In 2003 taxes paid to Azerbaijan totaled $50 million, including taxes from income, withholding and pension fund, and physical persons. In this timeframe BP
Azerbaijan has paid $3.3 million in bonuses.