Baku, Azerbaijan, April 1
By Maksim Tsurkov - Trend:
BP Azerbaijan company is ready to start the three-dimensional seismic studies on potential promising structures located in the shallow waters of Absheron peninsula, a source in Azerbaijan's oil and gas market told Trend April 1.
The company will start the studies in coming days, said the source adding that BP has completed all the necessary preparations.
Earlier, BP's Regional President for Azerbaijan, Turkey and Georgia Gordon Birrell said that the company plans to start exploratory drilling on potential promising structures at late 2017.
The contract for the geological exploration and development of promising structures in the shallow waters of the Absheron peninsula was signed in December 2014 between Azerbaijan's state oil company SOCAR and BP and ratified in April 2015.
The territory covered by the agreement, extends along the Absheron Peninsula's southern part and covers an area of about 1,900 square kilometers. In this area the sea depth is about 25 meters, and the depth of the bedding of the potentially productive strata - 3,000-5,000 meters.
Some 50 percent of the share by the agreement belongs to BP, 50 percent to SOCAR. BP is the project's technical operator.
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