ECONOMY


STEP PROGRESSES WELL

The Sangachal Terminal Expansion Program (STEP) - ACG Phase 3 is the next important phase of construction at STEP, according to BP-Azerbaijan. The main construction works are progressing well and are currently 44% complete. The Phase 3 facilities at STEP are expected to be completed during the fourth quarter of 2007

In addition, Phase 2 of the BTC Head Pump Station at Sangachal is also fully operational with sufficient capacity to receive all the oil coming from the ACG Phase 2 facilities.

It currently employs over 2200 persons of whom more than 75 % are local Azerbaijan citizens. About half of these people are local residents from adjacent villages and towns of the Garadagh district

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