Azerbaijani President, BP Executive Discuss Prospects Of Work In Caspian Sea - Baku

Azerbaijani President Ilham Aliyev held a meeting with Helge Lund, the board director of UK oil company BP, during which the sides discussed prospects of cooperation in Azerbaijan's sector of the Caspian Sea, the presidential administration said in a statement

BAKU (UrduPoint News / Sputnik - 06th September, 2019) Azerbaijani President Ilham Aliyev held a meeting with Helge Lund, the board director of UK oil company BP, during which the sides discussed prospects of cooperation in Azerbaijan's sector of the Caspian Sea, the presidential administration said in a statement.

"President of the Republic of Azerbaijan Ilham Aliyev has received a delegation led by chairman of the BP Board Helge Lund. The long-term successful cooperation between Azerbaijan and BP was hailed, the role of oil and gas industry development in diversifying Azerbaijan's economy was underlined at the meeting ... The sides also exchanged views on prospects for cooperation in the Azerbaijani sector of the Caspian Sea," the statement published on the presidential administration's website late on Thursday read.

During the meeting, Aliyev and the BP officials also discussed the importance of large-scale infrastructure projects in Baku and the country's regions.

Moreover, the sides addressed the role of the so-called Contract of the Century between the Azerbaijani government and the oil company on the development of the Azeri-Chirag-Guneshli (ACG) fields in the Caspian Sea in the development of the country.

The deal was signed in 1994 and underscored economic and political development of Azerbaijan over the past decades. In 2017, it was prolonged until 2050.