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BP Azerbaijan VP discloses investments in Azerbaijans economy within BP

February 13, 2018/ 11:41

Baku. During 25 years of BP's activity in Azerbaijan, over $69 billion have been invested in Azerbaijan’s economy as part of the projects in which BP is the operator, Bakhtiyar Aslanbayli, BP-Azerbaijan Vice President for Communications and External Affairs, Strategy and Region, said.

Aslanbayli made the remarks at the conference "Taxes: Transparency: Development" in Baku Feb. 13.

He added that during that period 3.3 billion barrels of oil were produced only within the Azeri-Chirag-Gunashli (ACG) field development project, reports Trend.

“Moreover, 89 billion cubic meters of gas and 176 million barrels of condensate were produced within the Shah Deniz gas condensate field development project,” he added.

The contract for developing the ACG field was signed in 1994. A ceremony to sign a new contract on development of the ACG block of oil and gas fields was held in Baku Sept. 14, 2017.

The new ACG participating interests are as follows: BP - 30.37 percent; AzACG (SOCAR) - 25 percent; Chevron - 9.57 percent; INPEX - 9.31 percent; Statoil - 7.27 percent; ExxonMobil - 6.79 percent; TP - 5.73 percent; ITOCHU - 3.65 percent; ONGC Videsh Limited (OVL) - 2.31 percent.

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