Closed work of the Supervisory Board of the State Oil Company of Azerbaijan

BP (the project operator) plans to build a new platform at the "Shah Deniz" field, the head of the communications department of bp-Azerbaijan, Tamam Bayatli told journalists. According to her, the new platform will operate in a fully autonomous mode (without human involvement).

There is a possibility that BP will enter into a contract for the development of the "Karabakh" field this year, BP's Vice President for Communications and External Relations in the Caspian region, Bakhtiyar Aslanbeyli, reported to journalists.

The British company BP (the project operator) plans to start producing the first natural gas from the offshore block of the "Azeri-Chirag-Gunashli" (ACG) fields by the end of this year, Tamam Bayatli, head of the communications department at BP Azerbaijan, reported to journalists.  According to her, drilling of the first production well, which began from the "West Chirag" platform last year, is still ongoing.

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) does not plan to increase its share in Russian VTB Bank, SOFAZ's Executive Director, Israfil Mammadov announced. "Since 2012, SOFAZ has been investing in stocks to diversify its investment portfolio. As part of this, in 2013, we acquired a 3% share in VTB Bank, one of the largest and systemically important financial institutions in Russia, with assets of about 26 trillion rubles (2nd place in the Russian market). I would like to note that additional investments in VTB Bank are not planned in the near future," said Mammadov. He added that since the investment in VTB, SOFAZ has received 3.9 billion rubles in dividends.