Major events in Caspian countries' oil and gas industry for last week (Aug. 10-14)

BP plans new exploratory drilling in Azerbaijan

BP starts to plan drilling of the first exploration well on Shafag-Asiman block of fields in the Azerbaijani sector of the Caspian Sea, said BP's report on the results of its activity in Azerbaijan in January-June 2015.

"In the first half of 2015, BP completed the interpretation of the seismic dataset for Shafag-Asiman," said the report. "This work required some 18 months to complete and is followed by another year required for planning of the first exploration well."

The Shafag-Asiman block's projected reserves stand at 500 billion cubic meters of gas and 65 million metric tons of condensate. The block is located 125 kilometers south-east of Baku. Shafag-Asiman is located at a sea depth of 650-800 meters with reservoir depth of 7,000 meters.

Greece, Azerbaijan discuss sale of DESFA's shares

Greece and Azerbaijan discussed the sale of a package of shares of DESFA gas transportation system operator to SOCAR (State Oil Company of Azerbaijan).

This issue was discussed at a meeting of Greek Minister Panos Skurletis with SOCAR Energy SA Greece director general Anar Mammadov, the ministry of industrial reform, environmental protection and energy of Greece said.

Greece's government is considering the sale of 49 percent share in DESFA to SOCAR.
SOCAR won a tender in December 2013 on the sale of the 66 percent share in DESFA for 400 million euros.

Currently, the deal is being considered by European Commission's Directorate-General for Competition, and the procedure will last until late 2015.

Microsoft Azerbaijan to support all initiatives in liberated territories of Azerbaijan
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Azerbaijan shows footage of Kalbajar's Vang village (VIDEO)
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