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BP's costs in Azerbaijan-Georgia-Türkiye region increased by 10%

03 August 2023 14:04 (UTC +04:00)

In the First Half of 2023, BP's direct (subcontractor) costs on local labor (services) and materials under contracts signed directly with local companies in the Azerbaijan-Georgia-Türkiye region and with foreign contractors operating in the region amounted to USD 718,5 mln, and this is 10% increase in annual comparison, APA-Economics reports citing BP's report on the first half of 2023 regarding the operations conducted in Azerbaijan.

In the reporting period, BP spent USD 356 mln within the framework of joint ventures with a local partner (on 14 enterprises).

According to the report, the company has spent USD 172,4 mln on the costs of foreign contractors within the country (on 91 companies) in the reporting period. After that, in the reporting period, BP's costs on 195 small and medium-sized institutions have made up USD 167,8 mln and USD 22,3 mln on 18 state companies.