Investments in Azerbaijan’s oil and gas sector exceed $80 billion

Oil&Gas Materials 5 June 2018 12:49 (UTC +04:00)

Baku, Azerbaijan, June 5

By Maksim Tsurkov - Trend:

The total volume of investments in the oil and gas sector of Azerbaijan, since 1994 to the present day, has exceeded $80 billion, the Azerbaijani state company SOCAR told Trend June 5.

In 2017 alone, $ 5.66 billion was invested in the country's oil and gas industry.

"As of January 1, 2018, the total amount equaled to $79.6 billion, and today it has already exceeded $80 billion," SOCAR stated.

The largest share of investments was made in the development of the Azeri-Chirag-Gunashli oil field and the Shah Deniz gas field, the operator of which is the British BP Company.

Earlier, Joseph Murphy, BP-Azerbaijan vice president for the Southern Gas Corridor said that the total investment of BP and partners in oil and gas projects in Azerbaijan is $ 70 billion.

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