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    Trend: Investments of BP and its partners in Azerbaijani oil and gas projects hit $ 40 billion

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Summary

Investements in Azerbaijani oil and gas projects by BP and its partners have hit $40 billion. Projects include the Azeri-Chirag-Guneshli offshore fields, Shah Deniz, construction of the Baku-Tbilisi-Ceyhan oil pipeline and the South Caucasus gas pipeline.

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Trend: Investments of BP and its partners in Azerbaijani oil and gas projects hit $ 40 billion

To date, BP company and its partners have invested about $ 40 billion in oil and gas projects in Azerbaijan, the head of Public Relations Department at BP Azerbaijan Tamam Bayatli said during the signing ceremony of a memorandum of understanding within the 'Business Leadership of Youth' project.

Bayatli said, that in particular, these investments were made for the development of the Azeri-Chirag-Guneshli offshore fields, the Shah Deniz condensate field, the construction of Baku-Tbilisi-Ceyhan oil pipeline and the South Caucasus gas pipeline.

Bayatli noted that some 2.1 billion barrels of oil were produced within the ACG project.

The contract on the Azeri-Chirag-Guneshli full field development was signed in 1994.  MORE



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