BP invests $33bn in Azerbaijan energy projects
Oil giant BP has invested $33 billion under the major projects on developing Azerbaijani oil and gas fields and exporting the country’s energy resources, according to the company’s Chief Financial Officer for Azerbaijan Georgia Turkey (AGT) Region Ian Sutherland.
The projects include the BP-operated Azeri-Chirag-Gunashli (ACG) and Shahdaniz oil and gas fields in the Caspian Sea, as well as Baku-Tbilisi-Ceyhan and South Caucasus Pipeline oil and gas pipelines.
1.8 billion barrels of oil have been extracted from the ACG block of fields since the project was launched and 26 billion cubic meters of gas produced since the implementation of the Shahdaniz project began, Sutherland told a conference on the role of the state oil fund SOFAR in Azerbaijan's oil strategy in Baku on Wednesday.
BP is the top foreign investor in Azerbaijan’s oil and gas sector.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!