BP to invest $8.74 billion in Azerbaijan in 2014

February 14, 2014

BP will increase investment in its oil and gas projects in Azerbaijan by almost 50% to $8.74 billion this year, BP’s Azerbaijani subsidiary which operates the projects has said.

In particular, $3.12bn will be spent on the Azeri-Chirag-Guneshli block in the Caspian Sea and $4.2bn is to be spent on the Shah Deniz gas condensate field.

Also, BP is going to invest $1.3bn in the South Caucasus pipeline and $119mn in the Baku-Tbilisi-Ceyhan pipeline.

Copyright: 1news.az, 2014