Azerbaijan`s earnings from BP projects hit $14.7bn
BAKU – Azerbaijan’s revenues from the implementation of oil giant BP’s energy projects surged 25.6 percent in 2010 to $14.7 billion, BP Azerbaijan’s press service said.
The figure was $11.7 billion in 2009.
BP Azerbaijan’s expenses on contractors and orders last year amounted to $1.03bn, compared to $982 million posted in 2009.
According to the company’s report, during 2010 BP and its co-venturers spent around $4.77m in Azerbaijan on sustainable development projects. BP alone spent $1.28m on social responsibility projects.
BP is the top foreign investor in Azerbaijan’s oil and gas sector. The company operates such large-scale energy projects as the Azeri-Chirag-Gunashli (ACG) oil and Shahdaniz gas fields in the Caspian Sea and the Baku-Tbilisi-Ceyhan (BTC) main export pipeline.
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