BP and Ministry of Energy sign Letter of Intent

19 October 2018

BP and the Ministry of Energy of the Republic of Azerbaijan today signed a Letter of Intent on improving the performance of small hydroelectric stations. The Letter of Intent aims to support the Ministry of Energy’s goal to improve the performance of the hydroelectric power generation sector in Azerbaijan.

Under the Letter of Intent, SNC-Lavalin's Atkins, a leading consultancy firm, will conduct an assessment to improve the efficiency of existing small hydroelectric stations in the regions to enhance the hydro-energy potential of Azerbaijan’s small mountain rivers.

Deputy Minister of Energy Samir Valiyev said: “This document is yet another success of our long-term energy cooperation with BP. We hope that this cooperation will pave the way for applying the successful oil and gas experience to the renewable energy sector and help us achieve the goal of increasing the share of renewable energy in the country’s energy balance.”

BP’s Vice President for Communications, External Affairs, Strategy and Region Bakhtiyar Aslanbayli said: “This project is in line with our commitment to supporting the country’s capacity building initiatives as part of our social investment agenda.  We are very pleased to support the Ministry of Energy on this project and hope this collaboration will grow into a solid and extended future partnership.”

SNC-Lavalin's Atkins will examine a number of small hydroelectric stations in operation and provide its recommendations on how the efficiency of these stations can be improved. A site visit by Atkins international experts will be arranged to review the existing stations and to assess possible sites for the construction of new stations.

Notes to Editors

About Ministry of Energy:         

The Ministry of Energy of the Republic of Azerbaijan is the central body of executive authority pursuing state policy and regulation in the fuel and energy sector, taking measures related to effective use of energy resources, ensuring protection of state interests in this area, conducting prognostication, preparing the country’s energy balance, exercising control and other activities.

The Ministry of Energy of the Republic of Azerbaijan was established by Decree No 458 of the President of the Republic of Azerbaijan dated 18 April 2001.

About BP:

In Azerbaijan, BP has been present for 26 years safely and reliably operating major oil and gas exploration, development and transportation projects. To date, BP (on behalf of the co-venturers in the joint ventures that it operates) has invested more than $80 million into social investment initiatives in support of local capacity-building and enterprise development throughout Azerbaijan to assist the country in strengthening its economy.

As Azerbaijan’s long-term and reliable oil and gas partner, BP has remained committed to helping the nation by investing in building local capabilities, education, development of communities, local enterprises, sporting potential, capacity building and effective governance initiatives. BP sees all this as an investment in the capacity-building efforts of the country as it aims to build a strong future.