BP: Full-scale works at Karabagh oil field to be completed by year-end

BP plans to finalize the full-scale work program at Azerbaijan's Karabagh oil field by the end of this year, BP's Vice President for the Caspian Region, Bakhtiyar Aslanbayli, told journalists, Report informs.

According to Aslanbayli, preparations are underway to move to the next stage of operations at the field: "We plan to complete the full-scale work program by year-end. Once the program is finalized, we will begin seismic studies next year. After those studies are completed, we will present a concrete concept and plans for the future development of the field."

The official added that once the concept is approved, both oil and gas will be produced from the Karabagh field.

On June 3, 2025, during Baku Energy Week, BP and the State Oil Company of Azerbaijan (SOCAR) signed agreements on SOCAR's participation in the project. The Karabagh field is located 120 km east of Baku, 20–25 km from the Gunashli field, at a depth of 150–200 meters.

Initial estimates suggest that the Karabagh field contains more than 60 million tons of geological oil reserves, of which 21 million tons of oil and 13 billion cubic meters of gas are considered recoverable.