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BP's expenditures in AGT region increase by nearly 28%

04 November 2026 14:15 (UTC +04:00)

In the first nine months of this year, bp's direct expenditures on local labor (services) and materials under contracts signed with local companies and foreign contractors operating in the Azerbaijan-Georgia-Türkiye (AGT) region amounted to $1,489.9 million (333 subcontractor companies), representing a 27.6% increase year-on-year, APA-Economics reports, citing bp's report on its operations in Azerbaijan for the first nine months of 2026.

According to the document, during the reporting period, bp spent $672.6 million through joint ventures with local partners (14 companies).

According to the report, the company's expenditures on in-country spending by foreign contractors (58 companies) amounted to $360.9 million during the reporting period.

In addition, bp's expenditures during the same period amounted to $408.3 million across 227 small and medium-sized enterprises and $48.1 million across 34 state-owned companies.

Emil Ismayilov

bp Azerbaijan Georgia Türkiye AGT region local expenditures subcontractors joint ventures foreign contractors small and medium-sized enterprises state-owned companies oil and gas industry 2026 financial results