BP expects to enter the Karabakh field project in 2025

16:48 - 24.01.2025


January 24, Fineko/abc.az. BP expects to enter the Karabakh field development project in the Azerbaijani sector of the Caspian Sea this year, ABC.AZ reports, quoting Bakhtiyar Aslanbeyli, BP's Vice President for the Caspian region.

"In September 2024, we signed a memorandum of understanding with SOCAR on the Karabakh field. Negotiations and discussions on the terms of BP's entry into the current agreement for the development of this field are currently underway within the memorandum," Aslanbeyli said.

He added that both sides are aiming for an early conclusion of the negotiation process.

On September 20, 2024, BP and SOCAR signed a memorandum of understanding on two offshore areas - the Karabakh oilfield and Dan Ulduzu-Ashrafi-Aipara structure in the Azerbaijani sector of the Caspian Sea.