In the Inam PSA (BP 25% and operator, SOCAR 50% and Shell 25%) the early stages of the well planning for INX-2 have been finalised and the project is ready to move into the final planning stage in early 2006, BP announced.
INX-2 is scheduled to be drilled by the Istiglal rig commencing during the second half of 2006; however, the actual timing will depend on when the Shah Deniz SDX-4 well is completed.
In Turkey and Georgia, BP recently finalised a farm-out of interest to Unocal (now owned by Chevron) for a 25-percent working interest in Turkish License 3534 and a 10-percent working interest in Georgia blocks APC-IIA, IIB and III.
In Turkey, BP operates Deepwater Exploration Licence 3534 and is currently drilling the Hopa HPX-1 well, the first exploration well in this undrilled deepwater basin.
Following completion of the farm-in, the partners are BP (25%), Turkiye Petrolleri A.O (TPAO вЂ" 50%), Unocal Turkey (Chevron) (25%). For this first well, BP as Operator has contracted the Global Santa Fe (GSF) Explorer, a dynamically positioned drill ship capable of drilling in over 2,000m of water. HPX-1 spudded on 18 July in 1500m of water. While there is still significant uncertainty as to the outcome of drilling, HPX-1 will be an important first well in this deepwater basin.
In Georgia, Anadarko Georgia Ltd (“Anadarko”) is operator, and following the farm-out the Production Sharing Contract (“PSC”) is now jointly held by Anadarko (48.0%), BP (28.5%), Turkey Petroleum Overseas Company (13.5%) and Unocal (10%). Drilling plans for this license will depend on the results of exploration in the Turkish Black Sea.