BP to raise 2005 capex in Azeri projects

Apr 19, 2005 02:00 AM

BP will increase capital expenditures in its Azerbaijan projects by $ 90 mm to $ 4.884 bn in 2005, David Woodward, president of BP Azerbaijan, said.
Woodward said capital expenditures on the Azeri-Chirac-Guneshli project will be increased to $ 2.36 bn from $ 2.31 bn.

Spending on the Shah-Deniz offshore gas field will grow to $ 1.29 bn from $ 1.27 bn and the company will put $ 1.23 bn into the Baku-Tbilisi-Ceyhan pipeline from the planned $ 1.21 bn.

Source: Dow Jones
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