Bank Of Baku

BP invests $33 bln in oil-gas projects in Azerbaijan

BP invests $33 bln in oil-gas projects in Azerbaijan
# 02 November 2011 08:22 (UTC +04:00)
Baku. Ali Ahmadov – APA-Economics. In the coming years, BP-Azerbaijan company intends to reach gas production in Azerbaijan up to 23 bln cubic meters, oil production up to 1.8 mln barrels, BP representative Ian Suterland said. The company invested $33 bln in the projects realized in this direction.

To him, currently, 2300 Azerbaijanis work in BP’s projects in Azerbaijan and 30 in the projects realized in foreign states.

Company official noted that one of BP goals was to do business with local companies at amount of $1 bln: “It makes 35% of our expenses. We achieved it in 2009. Even one of the local companies signed $65 mln-contract with BP”.
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