In Turkey, BP operates Deepwater Exploration Licence 3534 with a 25% working interest. In January, BP on behalf of its partners TPAO (50%) and Chevron (Unocal Turkey B.V. - 25%) completed drilling operations on the first exploration well - Hopa HPX-1 in the licence. The Hopa HPX-1 well spudded on July 18, 2005 and reached its planned final depth of approximately 4700 meters. The data acquired during the drilling will be studied by the partnership over the next several months, Trend reports citing the data provided by the company.
David Woodward, the President of BP Azerbaijan, said that during the drilling activities the company achieved important data, concerning the rock and pressure. At present the estimation of the data is underway and the final results will define the further fate of the contract. Woodward stressed the company has great interests in this portion of the Black Sea.
In the Inam PSA (BP 25% and operator, SOCAR 50% and Shell 25%) planning of the INX-2 well has now moved into the final stage. INX-2 is scheduled to start drilling using the Istiglal rig late in the second half of 2006; however, the actual timing will depend on when the Shah Deniz SDX-4 well, including any testing, is completed.
In Georgia, BP holds a participating interest in deepwater blocks IIA, IIB, and III. Anadarko is the Operator (48.0%) with BP (28.5%), Turkey Petroleum Overseas Company (13.5%) and Chevron (Unocal - 10%). The interpretation of the seismic data continues.