The transfer of technical operatorship was carried out in fulfilment of the agreement between SOCAR and BP, signed in December 2013.

Natural gas production at the major Shah Deniz gas field was 10 billion standard cubic metres (bcm) in the first half, up from around 9.4 bcm in the same period last year.

The bank’s assets amounted to 5.9 billion manats, 7.8 percent up from January-June 2020. Liabilities rose by 8.6 percent, amounting to 5.4 billion manats.

BP expects to discover oil reserves at SWAP to compensate for a decline in oil production at its major project in Azerbaijan – the Azeri-Chirag-Guneshli oilfields, which account for most of the country’s oil output.

Green hydrogen is a critical component of the energy revolution since it enables low-emission, decarbonized mobility.