BP undecided on drilling rig for new PSA in Azerbaijan

Oil&Gas Materials 3 June 2015 18:01 (UTC +04:00)

Baku, Azerbaijan, June 3

By Maksim Tsurkov - Trend:

BP company hasn't yet decided on the drilling rig for the new production sharing agreement (PSA) in Azerbaijan, BP's regional president for Azerbaijan, Georgia and Turkey, Gordon Birrell told Trend June 3.

He said the contract area covers the shallow waters of the Caspian Sea and many rigs can carry out drilling there.

"We are not worried about the drilling rig for the new contract," said Birrell. "In the Azerbaijan sector of the Caspian Sea, there are enough rigs that can drill in shallow waters. Thus, if we start drilling in this area, it will be possible to use one of them."

The PSA contract, signed in December 2014, will cover three stages: the primary exploration, main exploration, development and production.

The territory covered by the PSA contract stretches along the southern part of the Absheron Peninsula. Sea depth in this area is up to 40 meters, and the depth of the potentially productive strata is 3,000-5,000 meters. The contract term is 23 years and it can be extended depending on the work process.

Edited by CN

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