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BP plc Announces Gas Development Approval


BP plc (NYSE:BP) has said that the Shah Deniz consortium has approved the next phase of its gas development project.

BP plc Announces Gas Development Approval

The UK based oil giant BP plc (NYSE:BP) led Shah Deniz consortium has approved the decision to start front end engineering and design, or FEED, on the estimated $25 billion Shah Deniz Stage 2 project.

Rashid Javanshir, President of the Azerbaijan, Georgia and Turkey Region of BP plc (NYSE:BP) said, “Over the past two years a substantial progress on all the individual components of this mega-project has been made. Engineering studies, commercial agreements and the support of the State of Azerbaijan and other governments give the Shah Deniz consortium the confidence to embark upon this FEED phase.”

BP plc (NYSE:BP) shares are currently standing at 43.27.

BP plc Wins Gas Development Approval
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Last Price: 43.27
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