BAKU, Azerbaijan, April 16. A meeting was held between Azerbaijan’s Minister of Energy, Parviz Shahbazov, and bp’s Regional President for Azerbaijan, Georgia, and Türkiye, Giovanni Cristofoli, to discuss ongoing projects and future cooperation, the Ministry of Energy told Trend.
The sides reviewed the current status of oil, gas, and renewable energy projects implemented within the framework of a strategic partnership with bp, as well as prospects for further collaboration. In this context, discussions focused on maintaining stable production at the Azeri-Chirag-Gunashli (ACG) field, the application of new technologies, and efforts to enhance operational efficiency.
Updates were also provided on activities at the Shah Deniz field, the development of the Shah Deniz Compression project, and progress in obtaining first gas under the project for processing associated natural gas from ACG. The parties also assessed prospects related to the development of the Shafag-Asiman and Karabakh fields, noting their importance in boosting the country’s gas export potential.
In addition, the meeting covered efforts to electrify oil and gas platforms and the Sangachal terminal, as well as progress toward commissioning the Shafag Solar Power Plant in 2027.
The sides emphasized the importance of energy security amid current developments in global energy markets, highlighting the need to diversify energy sources, routes, and supply. It was noted that while renewable energy is rapidly developing, hydrocarbons continue to hold a significant share in global energy consumption and will remain important in the future. Azerbaijan’s consistent policy of diversification across oil, gas, electricity, and renewable energy sectors was also underscored.
The importance of continuing joint efforts to expand mutually beneficial cooperation, strengthen regional energy security, and further reinforce Azerbaijan’s role as an international energy hub was highlighted during the meeting.
bp, which has been operating in Azerbaijan for 30 years, is the country’s largest foreign investor and serves as the operator of the Azeri-Chirag-Gunashli oil field and the Shah Deniz gas field.
“We have built excellent partnerships with the government, SOCAR, and other partners in Azerbaijan. With 30 years of successful operations in the Caspian region, we are a leading operator capable of delivering these world-class projects safely, reliably, and efficiently.
We will continue to invest in projects that meet international energy standards and bring advanced technologies and expertise to the Caspian region.
We will rely on this unique experience and knowledge to successfully implement new projects in the basin, including the next phase of ACG development under the extended agreement, the Azeri Central East project, Shafag-Asiman, and other potential initiatives,” the company said.
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Azerbaijan and bp discussed the development of oil and gas production capacity, Azerbaijan’s Minister of Energy Parviz Shahbazov wrote on his X account, Trend reports.
“During the meeting with Giovanni Cristofoli, bp’s regional president for Azerbaijan, Georgia, and Türkiye, we discussed the cooperation priorities, including the development of oil and gas production potential, electrification, and the solar power plant scheduled to be commissioned in 2027,” the publication reads.
bp has been operating in Azerbaijan for 30 years and is the largest foreign investor in the country. Currently, bp operates one of the world’s largest oil fields—Azeri-Chirag-Gunashli—and the equally large Shah Deniz gas field.
“We have built excellent partnerships with the Government of Azerbaijan, SOCAR, and other partners. With 30 years of successful experience in the Caspian region, we are a leading operator capable of safely, reliably, and efficiently delivering world-class projects.”
We will continue to invest in projects that meet international energy standards and bring the most sophisticated and advanced technologies and expertise in the industry to the Caspian region.
“We will use this unique experience and knowledge to successfully implement new projects in this basin—the further development of the ACG field (under the new expanded agreement), SWDS, Shafag-Asiman, and other potential projects,” the statement of bp says.
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