BP-Azerbaijan to start seismic exploration at the shallow part of Absheron arch in 2016

In Q1 2016 BP-Azerbaijan plans to start seismic exploration at the shallow part of the Absheron arch, the regional director of BP in Azerbaijan, Georgia and Turkey, G. Birrell, said.

We are happy to sign the agreements by this project with SOCAR and think there are opportunities for a long-term cooperation in the framework of this project. We have started the preparatory works. In February-March 2016 the primary seismic exploration will start at the site, G. Birrell said.

The company plans to complete the interpretation and analysis of data collected as a result of the seismic exploration until the end of 2016.

It will allow us to determine further steps, he said.

The PSA between SOCAR and BP for development and geological exploration at the shallow part of the Absheron arch was signed on December 22, 2014.

The contract area is about 1.9 thousand sq km, SOCAR and BP hold 50% each.

The works are divided into 3 stages: primary exploration, main exploration, development of deposits.