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Collaborative Insight November 2017 - ISSUE 43

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SOCARThe State Oil Company of Azerbaijan and BP Celebrate 25th Anniversary of Partnership

The State Oil Company of the Azerbaijan Republic, SOCAR held two high profile events to celebrate the 25th anniversary of their partnership with BP, hosted by Lord Evans of Watford, Chairman of the Institute for Collaborative Working.

The first event was held at the House of Lords on Thursday 26th October and was attended by a number of Ambassadors, MP's, Peers and BP senior executives.

The second event took place at King's College, Cambridge on Monday 30th October and was attended by senior executives and academics from across the oil and gas sector.

Mrs Rafiga Huseynzade presented on the impressive environmental achievements of SOCAR and the history of the collaborative relationship with BP. She was also delighted to announce that SOCAR and BP have recently signed a new agreement frame-working a future partnership relationship through to 2050. Bob Dudley, CEO of BP described it as 'The Contract of the New Century' - which will see a further US Dollars 40 billion of investment in Azerbaijan.

BP, one of the world's leading oil and gas companies - a British multi-national which operates in 72 countries - has worked very closely with SOCAR to invest US Dollars 33 billion in the giant ACG oil production complex, which produces three quarters of Azerbaijan's oil.

Britain and Azerbaijan have an amazing history of collaboration - and the British are by far the largest foreign investors.

Gary Jones, Regional President of BP responded and spoke warmly of the affinity with Azerbaijan and their commitment to a long term, mutually rewarding relationship.

Please contact Caroline Minshell or Nathalie Linden at Senate Publishing Limited for further information:

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