ECONOMY


BP Azerbaijan: We are continuing to plan the first exploration well on Shafag-Asiman block

Baku, February 13, AZERTAC

“We are continuing to plan the first exploration well on the Shafag-Asiman block,” BP Azerbaijan told AZERTAC.

“Following completion of the processing and interpretation of the 3D data acquired from the Shallow Water Absheron Peninsula (SWAP) contract area, a Notice of Prospectivity was signed with SOCAR in 2018, signifying BP’s commitment to drill exploration wells in three prospective areas in shallow water Absheron. Planning for the exploration wells drilling in the selected prospective areas is now ongoing.”

According to the company, following signature of the new production sharing agreement (PSA) for the joint exploration and development of Block D230 in April 2018, work started on the planning of a seismic acquisition programme which is expected to be conducted in 2019.

“In 2018, BP was assigned 61% participating interest in the existing onshore Gobustan PSA in Azerbaijan. As part of the assignment, BP, as operator, is planning to drill one exploration well in 2019,” the company said.

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