BP to start development planning for Karabakh field after seismic studies

BP will start preparing a development program for Azerbaijan's Karabakh oil field following a two-phase seismic survey, BP Vice President for the Caspian Region Bakhtiyar Aslanbayli told Report.

He noted that the company has completed preparatory work this year and will launch a large-scale seismic program at the end of the year.

"The program consists of two parts: one using seabed node sensors and another employing high-precision, ultra-sensitive seismic equipment. The first phase will begin in December and last three and a half to four months, while the second phase will start in March or April and continue for 45 days," he said.

According to Aslanbayli, the first survey will provide extensive data on the field and refine geological information, while the second will help assess current and future risks related to development and platform installation. Only after completing both phases will BP prepare a detailed development plan to be submitted to SOCAR for approval before implementation begins.

He added that production from the Karabakh field will be integrated into the existing Azeri–Chirag–Gunashli infrastructure, using its export pipeline network and production facilities.

BP signed agreements with SOCAR on June 3, 2025, during Baku Energy Week, to acquire stakes in two projects: the Karabakh field, located 120 km east of Baku, and the Ashrafi–Dan Ulduzu–Aypara block to the northeast. BP acquired a 35% stake in each project and will serve as operator, while SOCAR retains the remaining 65%.

The Karabakh field's geological oil reserves exceed 60 million tons, with an estimated 21 million tons of recoverable oil and 13 bcm of gas. Fitch Ratings estimates peak production at 7.5 million barrels per day, equivalent to more than 2.7 billion barrels annually.