BP vows to co-op with Azerbaijan for the long-term
Baku, Azerbaijan, Nov. 4
By Maksim Tsurkov - Trend:
BP intends to continue investing in Azerbaijan, said Martyn Smith, the BP vice president for reservoir development.
He made the remarks at the SPE Annual Caspian Technical Conference and Exhibition held in Baku Nov. 4.
Smith said BP is very happy with the company's work in Azerbaijan.
"The successful development of a number of fields gives us confidence that we will continue the long-term cooperation with Azerbaijan and SOCAR," he said. "We have a desire to continue investing in Azerbaijan."
He also said that competition in Azerbaijan's oil and gas market has increased significantly.
"We need to improve our operational performance, while reducing costs. To do so, we intend to apply a number of technical innovations to improve the process of extraction, transportation of hydrocarbons, and to upgrade facilities, including those in Azerbaijan," said Smith.
Follow the author on Twitter: @MaksimTsurkov