BAKU, Azerbaijan, July 28
By Leman Zeynalova – Trend:
bp plans to drill the third well as part of the Shallow Water Absheron Peninsula (SWAP) project in Azerbaijan in the first quarter of 2022.
The remarks were made during the public discussions on the Environmental and Social Impact Assessment (ESIA) for the second well of SWAP, Trend reports.
It is planned to drill the first and second well in the third and fourth quarters of 2021, respectively.
The SWAP Contract Area comprises three Prospective Areas. It is planned to drill three SWAP exploration wells in total; one in each Prospective Area namely: North Khali (NKX01) exploration well in North East Prospective Area; Qarabatdag (QBDX01) exploration well in South East Prospective Area; and Bibiheybat (BHEX01) exploration well in West Prospective Area.
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.
---
Follow the author on Twitter: @Lyaman_Zeyn