BP to hold open meeting on Shafag-Asiman block of fields

2 September 2019 17:22 (UTC+04:00)

2 497

On Sept.11, BP will hold an open meeting to discuss a document on the Environmental and Socio-Economic Impact Assessment (ESIA) of Shafag-Asiman Exploration Drilling Project, Trend reports referring to the company.

The meeting will be held at the Holiday Inn Baku hotel at 10:00 (GMT +4).

BP is expected to start exploration drilling at Azerbaijan’s Shafag-Asiman Contract Area in the fourth quarter of 2019.

Azerbaijan's State Oil Company SOCAR and BP signed a contract on the Shafag-Asiman block for a period of 30 years in October 2010. The exploration period is four years with the possibility of extension for three more years. At the first stage, two wells are planned to be drilled. If necessary, two more wells will be drilled at the second stage.

In the operational period, the sides will implement joint operatorship within the project. Shared participation in the contract between BP and SOCAR is 50 to 50 percent.

The forecast reserves of the Shafag-Asiman block stand at 500 billion cubic meters of gas and 65 million tons of condensate.

The block is located 125 kilometers to the south-east of Baku. Exploration work on the block has not been conducted yet. It is located at a depth of 650-800 meters with the depth of the reservoir at 7,000 meters.

---