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BP reveals volume of expenditures on Azerbaijani projects in five-year period

Oil&Gas Materials 3 July 2019 18:25 (UTC +04:00)

Baku, Azerbaijan, July 3

By Leman Zeynalova – Trend:

The volume of expenditures by BP and its co-venturers on projects in Azerbaijan stood at $35.398 billion in 2014-2018, Trend informs citing BP’s Sustainability Report.

The total volume of capex by BP and its co-venturers in Azerbaijani projects in 2018 amounted to $2.988 billion in 2018, as compared to $4.873 billion in 2017, while the operating expenditure stood at $1.238 billion in 2018, compared to $1.069 billion in 2017, reads the report.

The company said that $72 billion worth capital expenditure was spent on the Azeri-Chirag-Gunashli (ACG), Baku-Tbilisi-Ceyhan (BTC), Shah Deniz and South Caucasus Pipeline (SCP) projects since the beginning of operations in 1995.

Moreover, BP said $82 million was spent jointly with its co-venturers on social programs including community development and educational initiatives since the start of its operations in Azerbaijan.

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