Baku: BP’s financial commitments in the Azerbaijan-Georgia-Trkiye (AGT) region have surged, as the company’s report on its activities for the first nine months of the current year reveals a significant increase in expenses.

According to Azeri-Press News Agency, BP’s direct costs reached 1,167.5 million US dollars, marking a 4.6% increase compared to the previous year. These costs encompass local labor, services, and materials under contracts with local companies and foreign contractors operating in the region.

The report highlights that BP allocated 469 million dollars for joint ventures with local partners, involving 15 enterprises. Additionally, the company expended 267.5 million dollars on foreign contractors’ expenses within the AGT region, collaborating with 75 companies during the reporting period.

Further details from the report indicate that BP’s expenses on 222 small and medium-sized enterprises amounted to 378.8 million US dollars, while the company’s spending on 39 state-owned companies totaled 52 million dollars.