BP spends $170m on actions with Azerbaijani companies in 1Q

Oil&Gas Materials 20 April 2006 13:15 (UTC +04:00)

At present the number of companies with Azerbaijani capital which cooperate with BP comprises 519. 72 of them are state-run enterprises, 41 joint ventures, and 406 small and medium enterprises, Trend reports citing the data by BP Azerbaijan.

In January to March 2006 BPs in-country expenses with the companies with Azerbaijani capital made up $11, with joint enterprises - $138m, small and medium enterprises - $19m. Forecast expenses for 2006 with the state-run enterprises made up $59m, joint enterprises - $306m, small and medium enterprises - $77m.

Use of funds with foreign companies based in Azerbaijan was equal to $515m (48% of the sum was spent in Azerbaijan). Total in-country expenses are forecasted to comprise $1.4bn.

BPs community investments in the social sector of Azerbaijan in the first quarter of 2006 under the ACG constituted $432,000 (the forecast for 2006 - $532,477), community investments along the BTC and SCP routes - $375,000 (forecast for 2006 - $1.5m (0.75 per one)), investments in the social sector in different regions of Azerbaijan - $187,000. (forecast for 2006 $750,000), social investments (operations under the ACG) $125,000 (forecast for 2006 - $500,000), community investments under Shah Deniz development project - $72,378 (forecast for 2006 - $377,684).