Planning for the exploration wells drilling in the selected three prospective areas on Shallow Water Absheron Peninsula (SWAP) is ongoing with the view to commence drilling activities in the first half of 2020, Report informs citing BP-Azerbaijan.
“On Block D230, we are planning to commence a 3D seismic acquisition programme in November 2019. Based on the results of the seismic survey we will begin planning of the first exploration well in 2020.”
On December 22, 2014, SOCAR and BP signed the Production Sharing Agreement (PSA) on joint exploration and exploitation works in potential perspective structures in the shallow water area around the Absheron Peninsula. The area of agreement is 1,900 m².
The perspective structures in the shallow water area around the Absheron Peninsula are supposed to have oil reserves.