Baku, Azerbaijan, Aug. 22
By Sara Israfilbayova - Trend:
Azerbaijan’s state oil company SOCAR will conduct a high-resolution 2D seismic survey in shallow waters around the Absheron Peninsula, Trend reports referring to the company.
To this end, the SOCAR Department of Geophysics and Geology has announced a tender. Those willing to participate in the tender should send an application before 17:30 (GMT +4) Sept.10, 2019.
Shallow Water Absheron Peninsula (SWAP) is a prospective block around the Absheron Peninsula in Azerbaijan.
The production sharing agreement (PSA) between SOCAR and BP for geological exploration and development of promising structures in shallow waters around Azerbaijan’s Absheron Peninsula was signed on December 22, 2014.
The work under the agreement is divided into three phases: primary exploration, main exploration and field development. The agreement envisages that the development phase will last 23 years, but this period may be extended.
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