BP official: Data integration key to discovering new Caspian reserves

Data integration is important for discovering new reserves in the Caspian Sea, BP Vice President for Geology and Development in the Azerbaijan, Georgia and Türkiye region Dan Sparks said during panel discussions held on the second day of Baku Energy Week, Report informs.

According to him, broader cooperation and data exchange between companies are needed to discover new oil and gas reserves in the Caspian basin.

"Companies operating in the region gain more by cooperating with each other than by competing. In this industry, we usually call each other competitors. But the benefits that companies operating in the same basin can gain from cooperation are greater than those from competition. Our real competition is with other regions that attract capital at a lower cost. Major projects such as Shah Deniz and ACG have enabled the creation of new infrastructure. Since future projects will not have such opportunities, joint use of existing resources will become even more important," the BP official said.