Dedication across the board
Annual Report 2012

Consolidated Financial Statements

19. Cost of Sales

In thousands of US dollars 2012 2011
     
Depreciation,Depletion and amortization 101,374 19,448
Repair, maintenance and other services 55,470 16,637
Royalties 34,195 8,684
Payroll and related taxes 18,409 9,233
Government profit share 7,899 1,825
Well workover costs 7,639 4,000
Other transportation services 5,350 2,737
Materials and supplies 5,332 4,952
Management fees 1,880 1,789
Environmental levies 1,614 817
Change in stock (3,298) (1,592)
Other 2,360 2,275
  238,224 70,805

During 2011 depreciation capitalized within the cost of goods sold as a result of test production of the gas treatment unit amounted to US$ 6,484 thousand.