Additional evaluation of the Shafag-Asiman offshore block located in the Azerbaijan sector of the Caspian Sea is required to determine the most suitable option to advance the project in the block, BP's Vice President for the Caspian region Bakhtiyar Aslanbayli told journalists, Report informs.
According to him, work is currently underway to plan future activities for this purpose, including the drilling of one well into the Lower Surakhani formation.
Last June, within the framework of the Baku Energy Week, several agreements were signed between BP, the State Oil Company of Azerbaijan (SOCAR) and TPAO, enabling TPAO to join the Production Sharing Agreement (PSA) for the Shafag-Asiman offshore block located in the Azerbaijan sector of the Caspian Sea. According to the agreement, additional evaluation work will be carried out for this purpose, including the drilling of one well into the Lower Surakhani formation.
The participation interests in the Shafag-Asiman block are as follows: BP (operator – 35%), SOCAR (35%) and TPAO (30%).