BP aims to join the Karabakh oil field project in Azerbaijan by 2025, with negotiations underway to finalize terms with SOCAR for this strategic offshore development.
BP plans to join the development of the Karabakh oil field in the Azerbaijani sector of the Caspian Sea by the end of 2025, according to Bakhtiyar Aslanbayli, BP's Vice President for the Caspian region.
"In September 2024, we signed a memorandum of understanding with SOCAR regarding the Karabakh oil field. Currently, within the framework of the memorandum, negotiations and discussions are underway on the terms of BP's entry into the existing agreement for the development of this field," Aslanbayli stated.
He emphasized that both parties are striving to finalize the negotiation process as quickly as possible. When asked whether BP aims to join the Karabakh project this year, Aslanbayli expressed his personal hope for it to happen.
On September 20, 2024, BP and SOCAR signed a memorandum of understanding covering two offshore areas: the Karabakh oil field and the Dan Ulduzu-Ashrafi-Aypara structure in the Azerbaijani sector of the Caspian Sea.
BP highlighted that its involvement in the exploration and development of these offshore areas could expedite project implementation through potential synergies.
Azerbaijan and Uzbekistan have elevated bilateral ties with a Treaty on Eternal Friendship signed by Presidents Ilham Aliyev and Shavkat Mirziyoyev...
Iran on Saturday denounced U.S. plans to announce new sanctions that could put further strain on the Islamic Repub...
Nordic and Baltic leaders arrived in Kyiv for Ukraine’s Flag Day on Sunday as Russia continued its drone campaign and Kyiv warned of a potent...
Russia is open to listening to new proposals on how to reach a settlement on the Ukraine conflict, a senior Russian diplomat said, but any proposals should reflect the "realities on the ground".
Iran on Saturday denounced U.S. plans to announce new sanctions that could put further strain on the Islamic Republic's economy and have an impact on its most important trading partners including China.
A large-scale drone attack has hit Russia's Samara region, damaging facilities and disrupting operations at an Ozon logistics complex, according to regional authorities and the company.
Nordic and Baltic leaders arrived in Kyiv for Ukraine’s Flag Day on Sunday as Russia continued its drone campaign and Kyiv warned of a potential new Russian mobilisation.
U.S. President Donald Trump said Iran was not ready to make what he called the "right deal" with Washington as tensions persisted over the war and the Strait of Hormuz.
Azerbaijan and Uzbekistan have elevated bilateral ties with a Treaty on Eternal Friendship signed by Presidents Ilham Aliyev and Shavkat Mirziyoyev in Tashkent on 23 August. The leaders also agreed to expand trade, investment, transport, and regional cooperation.
Syria has called for international action after an Israeli drone strike hit a civilian vehicle near Damascus, warning that continued Israeli attacks could deepen instability and put civilians at greater risk.
Pakistan says it has added 12 sites to its UNESCO World Heritage Tentative List, taking the total from 25 to 37 and widening the country's roster of potential future nominations.
Uzbekistan and Georgia have launched an electronic permit system for international road freight, replacing paper documents in a move aimed at speeding up cross-border transport and cutting bureaucracy.
Kazakhstan accounts for 45% of Central Asia’s road and rail infrastructure investment, with around $32.3 billion committed as the region expands key transport links across Eurasia.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment