BAKU, Azerbaijan, June 3. First oil production from Azerbaijan’s Karabakh field is expected in 2029, bp has announced, Trend reports.
Speaking at a briefing on Tuesday during Baku Energy Week, Gordon Birrell, bp’s Executive Vice President for Production and Operations, said the timeline is relatively fast for a major offshore development.
"We’re aiming for first oil in 2029, which is a fairly quick turnaround for a large-scale project. The development concept includes a normally unmanned platform - a lightweight structure with a topside and essential equipment, operated remotely without permanent personnel offshore," he said.
bp has finalized a deal to acquire a stake in the Karabakh oil field. The agreement was signed today with the State Oil Company of Azerbaijan (SOCAR) on the sidelines of Baku Energy Week.
The Karabakh field lies about 120 km east of Baku and 20–25 km from the Gunashli field, at a depth of 150 to 200 meters.