BP-Azerbaijan Vice-President: Drilling of wells at block D230 is not planned for this year

Drilling of wells at the D230 block in the North Absheron basin is not planned for this year in the Azerbaijani sector of the Caspian Sea, BP-Azerbaijan Vice-President on Public relations, International relations and Strategy Bakhtiyar Aslanbeyli said. He emphasized that the Production Sharing Agreement (PSA) for D230 perspective block is expected to be ratified by the Milli Majlis of the Republic of Azerbaijan. Then, seismic surveys will begin in the block area. After the interpretation of data, drilling of exploration wells will be decided. The number and location of wells will be known. Drilling of wells in the block is not planned for this year, Bakhtiyar Aslanbeyli stressed.

D230 block covers areas with the depth of water up to 300 meters and the collector’s depth of 3000-5000 meters.

On May 24, 2016, BP and SOCAR signed a memorandum of understanding to jointly explore potential prospects in block D230 in the North Absheron Basin in the Azerbaijan sector of the Caspian Sea. As part of the government’s plan to ensure that all of Azerbaijan’s offshore waters are fully explored this MOU gives BP the exclusive right to negotiate an agreement with SOCAR to explore and develop block D230.

On April 26, 2018, President of the Republic of Azerbaijan Ilham Aliyev and Prime Minister of the United Kingdom of Great Britain and Northern Ireland Theresa May signed a Production Sharing Agreement (PSA) for D230 in the Azerbaijan sector of the Caspian Sea between SOCAR of the Republic of Azerbaijan and BP Exploration (Azerbaijan) Limited and SOCAR Oil Affiliate. The agreement was signed by SOCAR president Rovnag Abdullayev and Chief Executive Officer of BP Robert Dudley in the presence of President of Azerbaijan Ilham Aliyev and UK Prime Minister Theresa May.

Source: AZERTAC