bp uses maximum resources to ensure economic efficiency of projects in Caspian Sea

Economy Materials 25 November 2021 10:34 (UTC +04:00)
bp uses maximum resources to ensure economic efficiency of projects in Caspian Sea

BAKU, Azerbaijan, Nov. 25

By Khagan Isayev – Trend:

Denmark-based Maersk Drilling has completed drilling works at 21 wells for production and subsequent increase in production as part of the second stage of development of the Azerbaijani Shah Deniz gas condensate field, bp told Trend.

According to the information, five of the completed wells are on the northern flank, four each on the western, southeastern and southwestern flanks, as well as two wells on the northeastern flank of the field. Drilling of the well on the southwest flank and on the northeast flank reached the final depth and was suspended.

It is reported that bp is using the maximum available resources and equipment to ensure the economic efficiency of projects.

"We are talking about the projects we are working on in the Caspian Sea. Work on them will continue. Decisions on the timing and use of a particular rig are regulated within the requirements of the company's operations and are included in its operations based on the annual work program and budget documents that we have adopted with the government, the State Oil Company of Azerbaijan (SOCAR) and our partners," bp said

Denmark-based Maersk Drilling is a leading offshore drilling operator, operating from the North Sea to Ghana and Timor-Leste. The company aims to reduce the complexity, cost and risks of drilling operations in order to increase the competitiveness of offshore oil and gas fields for its clients.

Equity participation in the Shah Deniz project is as follows: bp (operator) - 28.8 percent, TPAO (Turkish Petroleum Corporation) - 19 percent, PETRONAS - 15.5 percent, AzSD - 10 percent, LUKOIL - 10 percent, NICO - 10 percent and SGC Upstream - 6.7 percent.