Baku: BP is set to increase its annual investments in the conventional oil and gas sector to $10 billion by 2027, revealed Gary Jones, BP’s Regional President for Azerbaijan, Georgia, and Trkiye, during a speech at the Baku Energy Forum. The announcement underscores BP’s commitment to enhancing its oil production capabilities.

According to Azeri-Press News Agency, Jones highlighted that the company’s objective is to elevate daily production to a range between 2.3 and 2.5 million barrels. This initiative forms part of BP’s broader strategy to optimize output while simultaneously addressing environmental concerns.

Jones stated, “We are working to maximize high-quality oil production at the ACG (Azeri-Chirag-Gunashli) field. Simultaneously, we are eliminating routine gas flaring, measuring methane emissions, and striving to minimize environmental impact.” This dual focus on increasing output and reducing emissions indicates BP’s effort to balance production goals with sustainable practices.