BP Vice President: Development of gas reserves at Karabakh field matter for future

Alongside oil production at the Karabakh field, BP plans to consider developing the discovered gas reserves there in the future, Colin Allan, BP’s Vice President for Finance in the Azerbaijan, Georgia, and Türkiye, said during the 30th anniversary Baku Energy Forum, according to Report.

"This week we announced completion of our entry into the Karabagh field. Whilst we principally are focused on the oil leg of the field, it has a discovered gas resource and we will be considering how to bring that onstream in future," he noted.

As previously reported, on June 3, 2025, during Baku Energy Week, BP signed agreements with the State Oil Company of Azerbaijan (SOCAR) to acquire stakes in two projects.

The first is the Karabakh oil field, located 120 km east of Baku and 20–25 km from the Gunashli field, at a depth of 150–200 meters. The second block is the promising Ashrafi–Dan Ulduzu–Aypara (ADUA) structure, located 90–110 km northeast of Baku, at a depth of 80–180 meters.

In both projects, BP acquired a 35% share from SOCAR, while SOCAR retained the remaining 65%.

BP will act as the operator in both projects.

The company plans to start the first oil production from the Karabakh field in 2029.

The geological oil reserves at the field are initially estimated at over 60 million tons, with recoverable reserves of 21 million tons of oil and 13 billion cubic meters of gas.