BP Azerbaijan, the operator of the Shallow Water Absheron Peninsula (SWAP) Contract Area finished ahead of schedule (early March 2017) the 3D seismic survey within the contract area.
BP President for Azerbaijan, Georgia & Turkey Gordon Birrell says that the 3D seismic survey, conducted since 31 May 2016, has been completed.
"Seismic survey covered four selected sites. Currently, processing and studying of the obtained data is underway, and following their results the process of planning of drilling of the first well will start," Birrell said.
Terms of the beginning of drilling works will depend on the drilling location.
"If a decision is made about the drilling of the first well in the shallow part of the contract area, then there will be no problems with drilling rig. In the case of well drilling in the deepwater part of the water area, the Company will have to wait for a free semi-sub drilling rig," Birrell said.
According to his estimate, drilling operations on the contract area may commence in late 2017.
The seismic survey on the contract area should have covered five plots with the total area of 1,520 sq km where the sea depth reaches up to 10 m. The work also covered the onshore area plot of 90 sq km.
The total contract area is 1,900 sq km.
The project, in addition to BP (50%), involves the State Oil Company of Azerbaijan (SOCAR).
The SWAP contract includes primary exploration (30 months for 3D, 2D and EIA), basic exploration (2-3 years) and field development.
In case of discovery of commercial hydrocarbon reserves during exploration it will be prepared (within 6 months) a program of field development and commenced its development (from 23 years and more).