Baku, Azerbaijan, May 24
By Maksim Tsurkov – Trend:
BP is extremely pleased with the results of seismic studies of the potentially promising sites in the shallow water area around the Absheron Peninsula, a source in Azerbaijan’s oil and gas market told Trend.
A contract for exploration and development of promising sites in the shallow water area around the Absheron Peninsula was signed between the Azerbaijani state oil company SOCAR and BP in December 2014 and ratified in April 2015. The territory covered by the agreement stretches along the Absheron Peninsula’s southern part and covers an area of about 1,900 square kilometers.
The source said BP has fully completed processing the data from two zones of the contract area.
“As is known, the whole contract area is divided into several zones. The results on the two of them have already been received and they are rather interesting for BP. Processing of the results now continues and later several of the most promising sites for drilling will be selected,” the source said.
Then, the company will decide on where and how to drill, according to the source.
