bp starts drilling third well in Qarabatdag area

In the Shallow Water Absheron Peninsula (SWAP) structure, the third exploration well was spudded in the Qarabatdag area on April 4, 2022, Report informs, citing a document issued by bp Azerbaijan and its partners on a business update for the first quarter of this year.

Drilling activities are currently ongoing at a depth of around 770 meters.

"The second exploration well in the Bibi-Heybat area was drilled to its total depth of 4,230 meters, and in mid-March, it was safely plugged and permanently abandoned. The well did not encounter economic hydrocarbons," stated bp Azerbaijan.

On December 22, 2014, SOCAR and BP signed the Production Sharing Agreement (PSA) on joint exploration and development of potentially promising structures in the shallow water areas of the Absheron peninsula. The agreement covers an area of ​​1,900 sq. km.

The prospective structures of the shallow water area around the Absheron Peninsula are believed to contain oil reserves. The drilling is planned to be carried out with the Satti floating drilling rig, owned by Kazakhstan's KazMunayGas company.