BRITISH PETROLEUM

Azerbaijan has consistently shown its willingness to boost gas supplies and provide assistance to Europe during times of crisis. Through President Ilham Aliyev's well-defined energy strategy, the country has established itself as a dependable and trustworthy energy partner for Europe. The EU countries are progressively reinforcing their energy alliances with Azerbaijan and actively endorsing all related initiatives.

“bp” has decided to hold a 25 percent equity share in the Shallow Water Absheron Peninsula (SWAP - Shallow Water Absheron Peninsula) project in Azerbaijan with a belief that this will enable the company to evenly distribute its investment potential in Azerbaijan and to redeploy capital to other areas of its business in line with the company’s strategy, bp Azerbaijan stated.

The Ministry of Energy of the Republic of Azerbaijan and bp today signed a Memorandum of Understanding to cooperate in assessing the potential and conditions required for large-scale decarbonized and integrated energy and mobility systems, including renewable energy projects in the regions and cities of Azerbaijan, Trend reports citing bp.