bp eyes Azerbaijan as key hub in global oil, gas expansion, official says

bp's global strategy is aimed at increasing oil and gas production, and Azerbaijan is considered an important area fully aligned with the company"s strategic plans, Giovanni Cristofoli, bp's regional president for Azerbaijan, Georgia, and Türkiye, told a press conference.

"Our company's global strategy is focused on increasing oil and gas production. We want to grow in the sector, and Azerbaijan, from this perspective, can very well support the implementation of this strategy," Cristofoli said, Caliber.Az reports via local media.

He added that the Caspian Sea region fully aligns with bp's strategy.

"Therefore, we are keen to continue working with the country's leadership and with SOCAR, discussing new opportunities together and joining them," he noted.

Cristofoli said the company is currently conducting seismic surveys in the Caspian to identify new areas for gas production:

"These seismic surveys will help us understand in which parts of the Caspian there are new potential gas reserves."

He added that geological exploration will follow the seismic work.

"From a geological exploration perspective, we already have existing projects. The most important of these is Shafag-Asiman. As you know, last year we operated there jointly with SOCAR. A joint company joined the project, which strengthened our position within Shafag-Asiman, and we look forward with great expectations to the exploration work we plan to carry out in this project," he said.

By Vafa Guliyeva