Negotiations underway to drill second exploration well in Shallow Water Absheron Peninsula area

An Environmental and Socio-economic Impact Assessment is being discussed with the Azerbaijani government to obtain permits to drill a second exploration well in the North Khali prospective area in the Shallow Water Absheron Peninsula (SWAP), Report informs referring to the business update from the field operator BP Azerbaijan and its partners in the third quarter of this year.

“The draft Environmental and Socio-economic Impact Assessment (ESIA) document for the second SWAP exploration well was submitted to the government and disclosed to the public on July 1, 2021, and we are now in discussions with the government to obtain necessary permissions to start drilling the well in the fourth quarter of 2021,” reads the report.

On D230, the interpretation of the seismic data is currently ongoing. If the results from the interpretation of the seismic survey are positive, bp will consider further exploration activities.

In the Shallow Water Absheron Peninsula (SWAP) area, the first exploration well was spudded in the North Khali prospective area on August 16, 2021.

Drilling activities are currently ongoing at the depth of around 2,300 meters. Once the well reaches the target depth, the well data will be analyzed and, if successful, an evaluation program may be conducted to confirm the results.

On December 22, 2014, BP and SOCAR signed a new production sharing agreement (PSA) to jointly explore for and develop potential prospects in the shallow water area around the Absheron Peninsula in the Azerbaijan sector of the Caspian Sea.