UK-based supermajor BP has signed a number of agreements to progress its production capacity and exploration efforts in Azerbaijan.
The agreements were made at Baku Energy Week in Azerbaijan’s capital. For the giant gas field Shah Deniz, a final investment decision was made by the various partners for a gas compression project as the next substantial development phase.
The project aims to access low-pressure resources in the field, thereby increasing the production life of the giant gas field and the overall resources recovered from it.
Furthermore, emissions from operations will also be reduced through solar power and electrification of the terminal. BP signed agreements that give it new licenses to explore and develop two blocks, and to speed up development on a third block, a new partner was included.
BP’s executive vice president for operations and production, Gordon Birrel, expressed his company’s pride at the relationship it had successfully built with Azerbaijan over more than three decades. BP, which also makes the Castrol metalworking and lubricant range, works with SOCAR, the state oil company of Azerbaijan. Birrel also said:
“The next phase of development for Shah Deniz will access additional resources, extend production and support continued delivery of important gas supplies to European customers. Innovative linked electrification and solar projects will support lower operational emissions in Azerbaijan while freeing up fuel gas for export.”
He added that the company was looking forward to collaborating with TPAO, another partner from Türkiye, and SOCAR in identifying further opportunities through exploration.
