BP together with its co-venturers in Azerbaijan signed new long-term contracts with 131 local companies in 2015, worth about $1.09 billion.

According to the BP Sustainability Report 2015, presented in Baku Sept. 30, the company worked with 238 local companies and individuals in Azerbaijan in 2015, of which 78 percent were small and medium sized enterprises.

“Our joint operations and projects expenditure in Azerbaijan totaled nearly $2.67 billion in 2015, which is the same as in 2014,” reads the BP report. “As part of this, our in-country operations-only expenditure with local suppliers in Azerbaijan was about $1.54 billion.”

BP is the largest foreign investor in Azerbaijan’s oil and gas sector and the operator of the block of Azeri-Chirag-Gunashli offshore oil and gas fields, as well as Shah Deniz gas and condensate field.

BP is also a member of such pipeline projects as the Baku-Tbilisi-Ceyhan and South Caucasus Gas Pipeline.