VP: BP invested nearly $87 billion in Azerbaijan projects

BP has invested around $87 billion in projects in Azerbaijan since it began operations in the country.

Russell Morris, BP’s Vice President for Drilling in Azerbaijan, Georgia and Türkiye, made the disclosure during the IADC Drilling Caspian & Black Sea 2026 exhibition and conference in Baku, Caliber.Az reports.

He noted that approximately 4.5 billion barrels of oil have been extracted from the Azeri-Chirag-Gunashli (ACG) field to date. As the field matures, Morris said, maintaining production increasingly relies on the application of modern technologies.

Highlighting recent achievements, he said that at the end of last year, BP drilled a horizontal well to a depth of 1,150 metres at the Central Azeri field.

“Daily production from this well exceeds 7,500 barrels of oil. This is an excellent result that has significantly exceeded our expectations,” he added.

Industry leaders and drilling professionals have convened in Baku for the IADC Drilling Caspian & Black Sea 2026 Conference & Exhibition, amid ongoing challenges in the region’s oil and gas sector.

Delegates are discussing a wide range of issues, including changing market conditions, workforce development, drilling efficiency, safety and security, pandemic-related operational disruptions, and equipment maintenance.

The event is showcasing the latest technological advances, including drilling automation, alongside case studies highlighting recent technical achievements in the region. Organisers emphasised the conference’s focus on practical solutions, with sessions on new tools and processes designed to improve health, safety and environmental (HSE) performance.

By Aghakazim Guliyev