"Contract of Century" attracted billions worth of investments in Azerbaijan's economy - BP's VP

Oil&Gas Materials 1 June 2023 11:35 (UTC +04:00)
"Contract of Century" attracted billions worth of investments in Azerbaijan's economy - BP's VP
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, June 1. "Contract of the Century" attracted billions worth of investments in Azerbaijan's economy, Executive Vice President, production and operations at BP Gordon Birrell said during the Baku Energy Week, Trend reports.

According to him, the UK alone has invested over $30 billion in the Azerbaijani economy.

"We are very proud to work in Azerbaijan. Here we are implementing the largest and innovative projects. Azerbaijani specialists work at BP's head office in the UK," he noted.

Birrell also said that BP is working on drilling new fields at the Shah Deniz base.

“We expect this will give us additional gas that can be exported to Europe. Our other project in Azerbaijan is a solar power plant in Jabrayil. This project will allow us to export energy from the virtual substation to the Sangachal terminal," he said.

Birrell noted that BP is working on allocating global investments in the development of energy projects, and part of these investments will be directed to Azerbaijan.

The Baku Energy Week is taking place in the capital of Azerbaijan, combining three prestigious events under one brand from May 31 to June 3.

The 28th International Caspian Oil&Gas Exhibition (Caspian Oil & Gas) and the 11th Caspian International Power and Green Energy Exhibition (Caspian Power) are being held within the framework of the Baku Energy Week.

Baku Energy Week is traditionally held with the support of the Ministry of Energy and the State Oil Company of the Republic of Azerbaijan (SOCAR).

Besides Azerbaijan, the US, Germany, Austria, Belarus, UAE, Bulgaria, Great Britain, Vietnam, China, Algeria, Philippines, Finland, France, Georgia, Spain, Israel, Sweden, Switzerland, Italy, Canada, Kuwait, Kazakhstan, Hungary, Monaco, the Netherlands, Norway, Uzbekistan, Romania, Russia, Serbia, Saudi Arabia, Singapore, Thailand, Türkiye and Japan are represented at the event.

The Caspian Oil&Gas and Caspian Power exhibitions are being held at the Baku Expo Center, and the Baku Energy Forum are being hosted by the Baku Congress Center.