BP to hunt oil off Azerbaijan coast

British oil giant BP is to hunt for oil and gas in the Caspian Sea with a new Azerbaijani partner. Yesterday it signed an agreement to explore the shallow water area around the Absheron Peninsula with Azerbaijan’s state oil company SOCAR. This stretch of the coast is home to Baku (pictured), the capital of Azerbaijan. […]

BP strikes 'biggest' gas deals in Caspian Sea

Energy giant BP and its partners have signed a long-term agreement to supply 10 billion cubic metres of gas a year (bcma) from a field in the Caspian Sea. Located offshore Azerbaijan, the Shah Deniz gas field’s (pictured, during construction) shareholders include the country’s state-owned SOCAR, France’s Total and Norway’s Statoil. They are working on […]