BAKU, Azerbaijan, Aug.31
By Leman Zeynalova – Trend:
BP as the operator of the Shallow Water Absheron Peninsula (SWAP) project announces that a draft Environmental and Social Impact Assessment (ESIA) document has been produced for planned 3D seismic data acquisition as part of BP’s work obligation and is available for public review and comment, Trend reports citing BP.
The document examines the potential environmental and social impacts of the project, and describes recommended mitigation measures.
BP signed a new production sharing agreement (PSA) with SOCAR in December 2014 to jointly explore for and develop potential prospects in the shallow water area around the Absheron peninsula in the Azerbaijan sector of the Caspian sea. This PSA was ratified by the Milli Majlis (Parliament of Azerbaijan) on 14 April 2015. This enables BP to move forward with its commitments under this PSA using its experience and advanced technology solutions from other shallow water areas around the world.
Under the PSA BP is the operator with 50 percent interest while SOCAR holds the remaining 50 percent equity.
The PSA contract area stretches along the margins of the Caspian basin to the south of the Absheron peninsula. The acreage features water depths of up to 40 metres with potential reservoir depths of 3000-5000 metres. This will enable BP to bring its experience and advanced technology solutions from other shallow water areas around the world to this area.
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