BAKU, Azerbaijan, Nov.5
By Leman Zeynalova – Trend:
It is planned to start drilling at Shallow Water Absheron Peninsula (SWAP) in Azerbaijan next year, BP Azerbaijan told Trend.
“We continue to work on planning for the exploration wells drilling in the selected three prospective areas on Shallow Water Absheron Peninsula (SWAP). The current plans are to commence drilling activities on SWAP in the first half of 2020,” said the company.
Moreover, as BP said in its report, on Shafag-Asiman block in Azerbaijan, planning for the drilling of the first exploration well continues. “Current plans are to commence drilling activities in December this year.”
On Block D230, BP is planning to commence a 3D seismic acquisition programme in November 2019. “Based on the results of the seismic survey we will begin planning of the first exploration well in 2020.”
Shallow Water Absheron Peninsula (SWAP) is a prospective block around the Absheron Peninsula in Azerbaijan.
The production sharing agreement (PSA) between SOCAR and BP for geological exploration and development of promising structures in shallow waters around Azerbaijan’s Absheron Peninsula was signed on December 22, 2014.
The work under the agreement is divided into three phases: primary exploration, main exploration and field development. The agreement envisages that the development phase will last 23 years, but this period may be extended.
On April 26, 2018, SOCAR and BP signed a PSA for joint exploration of the prospective block D230 in the North Absheron basin in the Azerbaijani sector of the Caspian Sea.
The parties have equal equity shares in the agreement.
SOCAR and BP signed a contract on the Shafag-Asiman block for a period of 30 years in October 2010. The forecast reserves of the Shafag-Asiman block stand at 500 billion cubic meters of gas and 65 million tons of condensate.
The block lies some 125 kilometers (78 miles) to the South-East of Baku. It covers an area of some 1100 square kilometers and has never been explored before. It is located in a deepwater section of about 650-800 meters with reservoir depth of about 7000 meters.
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