Azerbaijan is the 3rd most valuable country in BP’s global portfolio after Russia and the Gulf of Mexico
Baku, November 15 - Neftegaz.RU.
Chief Executive Officer of BP Bernard Looney
, as he met with President of Azerbaijan State Oil Company (SOCAR) Rovnag Abdullayev
at SOCAR’s main office, said:
- Further expansion of cooperation with Azerbaijan is in line with business interests of BP
Emphasizing the importance of the meeting between President Ilham Aliyev
and the representatives of BP
, Abdullayev highlighted the positive dynamics of relations between the 2 companies, Azertag
The sides discussed opportunities to further accelerate a number of joint projects, considering that the situation with pandemic
has changed for the better.
The sides described the unwavering commitment of BP, which has been cooperating with Azerbaijan for many years, as well the company
’s successful results as an indicator of optimal strategic approach and effective collaborative actions.
They highly appreciated the completion of a complex and huge project, such as the Southern Gas Corridor
by SOCAR and BP, which has been implemented on time, on schedule, with high quality and below cost.
Bernard Looney hailed the close and fruitful relations between the company and SOCAR, also emphasizing the highest level of development
of the cooperation model established by joint efforts.
He described the successful continuation of the Azeri-Chirag-Gunashli
project for almost 30 years, the Shah Deniz
project for 20 years, as well as the production of 4 billion barrels of oil under the Contract
of the Century as a clear manifestation of continued and fruitful relations.
arrived in Azerbaijan and opened its 1st
office in Baku in June 1992.
The total volume of BP's capital expenditure on Azerbaijan
's oil & gas projects between 1995 and 2019 amounted to $75 billion.