What is BP's new role in Azerbaijan's Babek gas field, and when is the agreement expected to be announced?

BP is set to become the operator of the offshore Babek gas field in Azerbaijan, taking over from the current SOCAR-led unit; the agreement between SOCAR and BP is expected to be officially announced on June 1, according to three industry sources cited by Reuters.

How large are the estimated hydrocarbon reserves in the Babek gas field?

The Babek gas field is estimated to hold around 400 billion cubic metres of natural gas and 80 million tonnes of condensate, as reported by the three industry sources speaking to Reuters.

BP set to take over offshore natural gas project in Azerbaijan, sources say

May 28, 2026

BP will become the operator of the Babek offshore natural gas field in Azerbaijan following an agreement with SOCAR, scheduled for announcement on June 1. The project holds estimated reserves of 400 billion cubic metres of gas and 80 million tonnes of condensate.

reuters

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