Page 12 - FSUOGM Week 24 2022

FSUOGM PROJECTS & COMPANIES FSUOGM

BP finishes up Azeri drilling without

finding cost-effective resources

AZERBAIJAN DRILLING of the third exploratory well in in the north-eastern and western promising
the shallow waters of the Absheron archi- areas of the contract area also did not reveal the
It is the third pelago within the framework of the SWAP presence of economically viable hydrocarbon
exploration well that BP (Shallow Water Absheron Peninsula) project reserves. As a result of drilling, BP had expected
has drilled at the site. did not reveal economically viable hydrocar- to discover oil resources in this block.
bon reserves, according to the press service of The SWAP project is located in shallow
BP-Azerbaijan. water south of the Absheron Peninsula in
"The exploration well Qarabatdag (QBDX01), the Azerbaijani sector of the Caspian Sea.

drilled in the south-eastern promising area of The production-sharing agreement (PSA)
the contract area, was closed on May 25, 2022. for the project was signed between BP and
Based on the results of drilling, no economically SOCAR in December 2014. The work under
effective hydrocarbon resources were found," the agreement is divided into three stages: pri-
the company said. The company added that the mary exploration, main exploration and field
well was the third and last to be drilled as part development.
of the main exploration period for the SWAP In 2016, a 3D seismic programme was car-
project: "The QBDX01 drilling site was located ried out, as a result of which three promising
7 km from the shore at a sea depth of 6 metres. areas were identified: North Khaly, Bibi-Heybat
Drilling began on April 4 this year using the Satti East and Garabatdag. The depth of water in the
jack-up drilling rig; the design depth of the well area of the plots does not exceed 40 metres. The
was 2,155 metres. Due to the fact that the pres- construction of the first exploratory well began
ence of hydrocarbon resources was not noticed, at the promising North Khaly block in August
drilling operations were stopped at a depth of 2021; in November, the second exploratory well;
2,185 metres," the company said. in April 2022, the third. The project participants
The company previously reported that drill- are: BP (project operator), 25%; Lukoil, 25%, and
ing of the first and second exploration wells SOCAR, 50%. ™

P12 www. NEWSBASE .com Week 24 15•June•2022