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1059

President of Azerbaijan: BP is our strategic partner

Azerbaijan is the 3rd most valuable country in BP’s global portfolio after Russia and the Gulf of Mexico.

President of Azerbaijan: BP is our strategic partner

Baku, February 9 - Neftegaz.RU. BP is our strategic partner, President of the Republic of Azerbaijan Ilham Aliyev said on 9 February 2021 receiving Minister for European Neighbourhood and the Americas at the UK Foreign, Commonwealth, and Development Office Wendy Morton, Trend reported.

Ilham Aliyev said during the meeting:
  • BP is our strategic partner, the company which participated from the very beginning in the major projects in Azerbaijan as an investor
  • After the prolongation of the Contract of the Century our cooperation will continue for many more decades
  • We hope that there will be more discoveries from BP-operated fields. We have good prospects for that.
  • We established a very probably the unique format of cooperation between the countries of our region and the European Union, and with the strong support from the governments of the U.K. and the U. S.
  • We will have the 7th meeting of the Advisory Council of the Southern Gas Corridor in 2 days’ time where we will review the achievements and look forward to future cooperation
  • Investments from the UK to Azerbaijan helped us a lot to modernize the country. These investments were mainly in the energy sector, almost $30 billion.
  • It allowed us to use properly the revenues from oil & gas sales to diversify the economy
  • I am sure that for the coming years our major area of concentration will be the non-energy sector development of Azerbaijan
Azerbaijan's energy sector opened up to West after independence from the Soviet Union in 1991.
BP arrived in Azerbaijan and opened its first office in Baku in June 1992.
BP-operated there world-class projects:
  • fields:
- Azeri-Chirag-Gunashli (ACG),
- Shah Deniz,
- Baku-Tbilisi-Ceyhan,
- South Caucasus Pipeline (SCP).
Azerbaijan is the 3rd most valuable country in BP’s global portfolio after Russia and the Gulf of Mexico, analysts said.
The total volume of BP's capital expenditure on Azerbaijan's oil & gas projects between 1995 and 2019 amounted to $75 billion.

Source : Neftegaz.RU


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