Azerbaijan is the most important and priority direction for business in the BP global portfolio, Bakhtiyar Aslanbayli, vice president for Communications, External Affairs, Strategy & Region at BP Azerbaijan-Georgia-Turkey, said.
He was speaking at the 3rd SOCAR International Caspian and Central Asia Downstream Forum on Trading, Logistics, Refining and Petrochemicals in Baku April 23.
“BP’s activity in Azerbaijan started in 1994 with the signing of the Contract of the Century, and since then, many goals were implemented at the international level through the joint efforts of the company and the government of Azerbaijan,” he said. “The Baku-Tbilisi-Ceyhan oil pipeline is one of the projects of a global scale. As of today, BP has built eight offshore platforms in Azerbaijan.”
He noted that the West Azeri, the East Azeri, the Shah Deniz Stage 1 and the Shah Deniz Stage 2 are also large-scale projects with BP’s participation in Azerbaijan.
“We apply the latest experience and technologies when working on the offshore oil and gas fields of Azerbaijan,” he said. “The Shah Deniz Stage 2 project for underwater gas production, which attracts a great number of foreign investments, is the most difficult to implement, and it is almost 99 percent complete. The Khankendi vessel for underwater construction work worth $378 million was used September 2017 as part of the Shah Deniz Stage 2 project.”
He also noted that so far, 3.3 billion barrels of oil were produced at the Azeri-Chirag-Gunashli (ACG) field, while 89 billion cubic meters of gas and 76 million barrels of gas condensate were produced at the Shah Deniz field.
The profit of Azerbaijan from the ACG and Shah Deniz projects was $132 billion, he added.