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BP to conduct seismic survey across Block D230 in Caspian Sea

BP to conduct seismic survey across Block D230 in Caspian Sea
BP plans to conduct seismic survey across Block D230 in the North Absheron Basin in the Azerbaijan sector of the Caspian Sea, Trend reports citing Environmental & Socio-Economic Impact Assessment prepared by BP. "BP and SOCAR are proposing to undertake an exploration program, comprising a 3D seismic data acquisition across Block D230 and beyond, approximately 80km from the Azerbaijani coastline in water depths ranging between 100 and 800m. The seismic survey is planned to be undertaken in 2019/2020 over a maximum 6 month period,” said the document. Reportedly, the survey will comprise survey lines contained within Block D230, and one survey line extending to the Ashrafi-1 well in the Dan Ulduzu Ashrafi Contract Area. "Vessel movement will not be restricted to the Block boundaries as it will be necessary for the vessels to travel outside Block D230 in order to turn at the end of each line. The vessel manoeuvring zone may extend as far as 10 km from the end of acquisition lines. Data acquisition may also be conducted when the vessel changes lines. The purpose of the seismic survey is to assess hydrocarbon prospects within the basin; following which targets for potential future exploration drilling can be identified. The data will be used to inform scoping and planning of exploration and development of the area,” said the document. In May 2016, BP and SOCAR signed a memorandum of understanding (MOU) to jointly explore potential prospects in the block D230 in the North Absheron Basin in the Azerbaijan sector of the Caspian Sea. The MOU gives BP the exclusive right to negotiate an agreement with SOCAR to explore and develop the D230 Block. The block covers areas in a water depth of up to 300 meters with the reservoir depth of 3,000-5,000 meters. In April 2018, Azerbaijan’s state oil company SOCAR and the BP signed a production sharing agreement on joint exploration and development of the D230 block in London. According to the 25-year agreement, 50 percent of the stake will belong to BP, which will become the operator for the exploration period, and the remaining 50 percent will belong to SOCAR. In November 2018, Azerbaijani President Ilham Aliyev approved the law on granting permission to accept, approve and implement a production sharing agreement for joint exploration and development at the prospective block D230.

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