BP's costs in the Azerbaijan-Georgia-Türkiye region slightly increased

# 04 May 2023 14:05 (UTC +04:00)

In the first quarter 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 335,1 mln, and this is 0,54% increase in annual comparison, APA-Economics reports citing BP's report on the first quarter of 2023 regarding the operations conducted in Azerbaijan.

In the reporting period, BP spent USD 157.2 mln within the framework of joint ventures with a local partner (on 14 enterprises).

According to the report, the company has spent USD 89,8 mln on the costs of foreign contractors within the country (on 75 companies) in the reporting period. After that, in the reporting period, BP's costs on 165 small and medium-sized institutions have made up USD 79,5 mln and USD 8.6 mln on 12 state companies.