BAKU, Azerbaijan, November 17. We plan to
finalize the full-scale work program at Azerbaijan’s Karabakh field
by the end of the year, bp’s Vice President for the Caspian Region
Bakhtiyar Aslanbayli told media, Trend reports.
According to him, after the program is finalized, seismic
surveys will begin next year.
He further explained that, following the seismic assessments
next year, specific concepts and plans for the future development
of the field will be announced. Upon approval of the development
concept for the Karabakh field, both oil and gas production will
commence, he added.
The Karabakh oil field is situated 120 km east of Baku,
approximately 20-25 km from the Caspian Gunashli field, at a depth
of 150-200 meters. The Ashrafi-Dan Ulduzu-Aypara structure is
located 90-110 km northeast of Baku, at a depth of 80-180
meters.
On May 31, 2018, SOCAR and Equinor signed a Production Sharing
Agreement (PSA) for the exploration and development of the
Ashrafi-Dan Ulduzu-Aypara prospective structures block, alongside a
Risk Service Contract for the Karabakh field’s development. The two
companies established an operating joint venture on an equal basis
to carry out the project. However, in December 2023, Equinor
divested its 50 percent stake in these projects to SOCAR, with the
transaction officially concluded on April 24, 2024.
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