SOCAR: Karabakh field being developed under fundamentally different concept

The development project for the Karabakh oil and gas field is being implemented based on a fundamentally different development concept, SOCAR Vice President Babak Huseynov said during his speech at the 31st Baku Energy Forum, Report informs.

"We are using flexible subsea tiebacks. Overall, we define this as development based on existing infrastructure. For the oil and gas industry, this is not a fundamentally new approach, but it involves integration into existing infrastructure, which is Azerbaijan's key asset. This will make it possible to significantly shorten the investment cycle and considerably accelerate the start of production. We are actively working with our partner in this direction," the vice president said.

On June 3, 2025, as part of Baku Energy Week, BP signed an agreement with SOCAR to acquire a 35% stake in the Karabakh field development project. The remaining 65% in the project is owned by SOCAR.

BP is the operator of the project.

The Karabakh field is located 120 km east of Baku, 20-25 km from the Gunashli field, at a depth of 150-200 meters. According to initial estimates, the field's geological oil reserves exceed 60 million tons, of which 21 million tons of oil and 13 billion cubic meters of gas are recoverable reserves.