Baku, Azerbaijan, July 4
By Sara Israfilbayova - Trend:
Drilling the first exploratory well at the Shallow Water Absheron Peninsula (SWAP) prospective exploration area is scheduled to begin by the end of 2019, Regional President for Azerbaijan, Georgia and Turkey (AGT) at BP Gary Jones told reporters in Baku, Trend reports.
He reminded that a contract for the development of SWAP area has been signed. "This is a promising contract with great potential," he said. "According to the results of exploration work in this contract area, we expect to discover oil."
He noted that Satti, a self-elevating floating drilling rig, was delivered to Azerbaijan from Kazakhstan for exploration drilling. After certain modernization, it will be involved in operations in the shallow waters around the Absheron Peninsula, he added.
Azerbaijan's State Oil Company SOCAR and Kazakhstan's KazMunaiGas signed a memorandum of cooperation in January 2019, on the basis of which the joint geological exploration will be carried out. The memorandum was signed in Baku by the heads of both companies, namely SOCAR’s Rovnag Abdullayev and KazMunaiGas’ Alik Aydarbayev.
The memorandum provides for the study of potential projects for joint geological and geophysical work, oil and gas exploration, the exploration of the possibilities of cooperation in the fields of transportation, trade, and geological work in the Caspian Sea, among others.
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