BP Company plans to start drilling the first well in the potentially promising structures in the shallow waters of Absheron Peninsula (SWAP) in early 2019, Vice-President for External Affairs of BP Company in Azerbaijan, Georgia and Turkey Bakhtiyar Aslanbeyli told reporters May 7.
He noted that the company preparing for the start of drilling on contract areas.
“The locations for the drilling of three wells have been chosen. They are in different zones in the contract area. This structure has good prospective reserves. Drilling is likely to start in early 2019, ” Aslanbeyli said.
The contract for exploration and development of potential structures in the shallow waters of the Absheron Peninsula was signed in December 2014 between the Azerbaijan state company SOCAR and BP Company and was ratified in April 2015.
The territory covered by the agreement extends along the southern part of Absheron Peninsula and covers an area of about 1,900 square kilometers. On this territory, the depth of the sea is up to 25 meters, and the depth of the potentially productive strata – 3000-5000 meters.
BP owns the 50 percent share in the agreement, and the other half is the share of SOCAR. The technical operator of the project is BP Company.
