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BP publicizes volume of funds to be transferred to Azerbaijan

Oil&Gas Materials 19 August 2009 16:45 (UTC +04:00)

Azerbaijan, Baku, Aug.19 / Trend E.Ismayilov /

BP, which participates in several oil and gas projects in Azerbaijan, will transfer $8.35 to the government billion under the oil price of $50 per a barrel in 2009, BP said.

BP transferred $16.3 billion to the government in 2008.

BP is the operator of BTC, Azeri-Chirag-Guneshli and Shah Deniz projects. BP also participates in the Baku-Tbilisi -Erzurum project.

In the first half-year of 2009 BP expenditures on local contractors and suppliers were $516 million, including $69 on small and medium businesses, $15 million on state-owned companies, $103 million on joint ventures with Azerbaijani partners in the first half of 2009 and expenditures on foreign suppliers were $329 million.

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