Last year, BP’s direct spending on local labor (services) and materials through contracts signed with local companies and foreign contractors operating in the Azerbaijan-Georgia-Türkiye (AGT) region amounted to USD 370.6 million which is a 13.3% increase in an annual comparison, APA-Economics reports citing BP's report devoted to the results of the first quarter of the current year on its operations in Azerbaijan.
According to the document, during the reporting period, BP spent USD 159.8 million within the framework of joint ventures with local partners (across 14 entities).
The report states that BP spent USD 76.8 million on in-country expenses of foreign contractors (across 62 companies) during the reporting period. In addition, during this period, BP’s spending on 186 small and medium-sized entities amounted to USD 115.2 million, and its spending on 20 state-owned companies totaled USD 18.8 million.
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