Baku: BP’s direct expenditure on the local workforce and materials under contracts signed with local companies and foreign contractors in the Azerbaijan-Georgia-Trkiye (AGT) region reached $1.0045 billion in the first half of this year, marking a 30% increase compared to the previous year.
According to Azeri-Press News Agency, BP’s report on its operations in Azerbaijan for the first half of this year reveals the detailed breakdown of these expenditures. BP allocated $421.7 million through joint ventures with its local partners, encompassing 17 enterprises, during the reporting period.
The report further indicates that BP spent $251.4 million on in-country expenditures for foreign contractors, covering 67 companies during the same period. Additionally, BP’s expenditures included $297.2 million across 248 small and medium-sized enterprises (SMEs) and $34.2 million across 30 state-owned companies.