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    BP looks to Azeri cash to meet production targets

    euronews (in English)

    by euronews (in English)

    British oil giant BP will need subsidies from Azerbaijan's government to prevent a further slide in output at its Azeri oil project.

    Oil executives and diplomats think massive additional investment is needed to hit original production targets of 1 million barrels per day.

    Since the third phase of the project came online in 2008, output had averaged less than 700,000 barrels.