BP hopes for another 30 years of successful operations in Azerbaijan

The British company BP and the State Oil Company of Azerbaijan (SOCAR) are confident about the prospects for future successful cooperation, Dan Sparkes, BP Vice president subsurface, Azerbaijan, Georgia and Türkiye region, stated during the 30th Anniversary Baku Energy Forum, Report informs.

"Together with SOCAR, we are looking to the future - the next 30 years. It will be a different period with new challenges, but we are confident that we can ensure another period of continued success. Our mission is actually simple - to mitigate the natural decline in production and bring new resources into development. This is a task that is simple to express but extremely complex to implement," he noted.

According to Sparkes, the Azeri-Chirag-Gunashli (ACG) block of fields has been the foundation of the region's export energy infrastructure, as well as an important element of its industrial development.

"This changes our approaches to exploration. The development process is influenced not only by logistics and the availability of free capacity in pipelines but also by integration with existing infrastructure and service capabilities in the basin. I am confident that today is the best time for complex work: efficient management of mature fields, development of discovered resources, and parallel expansion of exploration," the official highlighted.