“Currently, the preparatory work is being carried out. These studies are important, because conducting drilling depends on them,” said Birrell.
If the results of research are successful, up to four of the most promising structures will be chosen for exploratory drilling, he added.
The contract for the geological exploration and development of promising structures in the shallow waters of the Absheron peninsula was signed in December 2014 between the Azerbaijani State Oil Company (SOCAR) and BP and ratified in April 2015.
The territory covered by the agreement, extends along the Absheron Peninsula’s southern part and covers an area of about 1,900 square kilometers. In this area the sea depth is about 25 meters, and the depth of the bedding of the potentially productive strata - 3000-5000 meters.
Some 50 percent of the share by the agreement belongs to BP, 50 percent to SOCAR. BP is the project’s technical operator.
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