BP Plans Exploration Projects In Azerbaijan Sector Of Caspian Sea
Drilling Activity Details
Drilling Activity Summary
Description
BP is planning a series of exploration projects in the Azerbaijan sector of the Caspian Sea in 2019, beginning with new exploratory drilling in the Shallow Waters Absheron Peninsula Project. A seismic survey has been completed and processing operations are under way. The London-based company acquired its production sharing agreement with the Azerbaijan Republic state oil company, Socar in 2015 for a 50/50 joint exploration and development project, which extends to the south of the Absheron Peninsula along the Caspian Basin margin. Area water depth ranges from 3,000-5,000 m. BP and Socar are exploring the 1,000 sq km Shafag-Asiman Block about 125 km southeast of Baku in the deepwater section, which has not been explored before. It is believed to hold primarily gas reserves at reservoir depths of around 7,000 m.
BP is planning a series of exploration projects in the Azerbaijan sector of the Caspian Sea in 2019, beginning with new exploratory drilling in the Shallow Waters Absheron Peninsula Project. A seismic survey has been completed and processing operations are under way. The London-based company acquired its production sharing agreement with the Azerbaijan Republic state oil company, Socar in 2015 for a 50/50 joint exploration and development project, which extends to the south of the Absheron Peninsula along the Caspian Basin margin. Area water depth ranges from 3,000-5,000 m. BP and Socar are exploring the 1,000 sq km Shafag-Asiman Block about 125 km southeast of Baku in the deepwater section, which has not been explored before. It is believed to hold primarily gas reserves at reservoir depths of around 7,000 m.