BP to conduct seismic survey on block D230 for 2019-2020
By Leman Mammadova
BP Azerbaijan is planning to conduct three-dimensional seismic exploration on the D230 block in the Azerbaijani sector of the Caspian Sea in 2019-2020.
This is stated in the Environmental and Socio-Economic Impact Assessment (ESIA) document for the seismic exploration program on BP-Azerbaijan’s D230 block, Report informs.
According to the document, the seismic survey will cover a maximum of 6 months.
“Block D230 is located approximately 80km from the Azerbaijani coastline in water depths ranging between 100 and 800m and covers an area of about 3.222 km². BP plans to conduct seismic exploration on the D230 block, as well as to go beyond the boundaries of the block one survey line extending to the Ashrafi-1 well in the Dan Ulduzu Ashrafi Contract Area. The purpose of seismic survey will be to evaluate perspective hydrocarbon structures within the basin. Thereafter, future targets for potential exploration drilling can be identified,” reads document.
The document states that the research vessel to be used in the program will be approved after the appointment of a contractor. The crew of the vessel will be brought from Baku or the nearest naval bases.
In April 2018, SOCAR and BP signed a production sharing agreement (PSA) to conduct joint exploration work on potential prospective structures of the D230 block in the North Absheron basin in the Azerbaijani sector of the Caspian Sea
The Azerbaijani parliament ratified the contract in October 2018. Under the PSA, which is for 25 years, BP will be the operator during the exploration phase holding a 50 percent interest, while SOCAR will hold the remaining 50 percent interest.
In May 2016, BP and SOCAR signed a memorandum of understanding on the geological exploration work on potentially promising structures of the D230 block.
The signed memorandum provided BP with the exclusive right to conduct negotiations with SOCAR in connection with the conclusion of an agreement on geological exploration and development of the D230 block.
BP is one of the world's most renowned oil and gas suppliers and its operations cover the safe development and production of key energy sources, and has been managing large projects for exploration, development and transportation of oil and gas fields in Azerbaijan since 1992.
BP and SOCAR have long-term cooperation in the oil and gas industry of Azerbaijan.
BP Azerbaijan is operator of ACG, Shah Deniz, Shallow Water Absheron Peninsula, Shafag-Asiman and Gobustan fields.
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Leman Mammadova is AzerNews’ staff journalist, follow her on Twitter: @leman_888
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