In the Shallow Water Absheron Peninsula (SWAP) area, planning is ongoing for drilling exploration wells in three prospective areas, Report informs, citing the statement of the operator of the block of fields – BP Azerbaijan and partners.

Drilling activities will commence once the upgrade of the rig selected to drill the first well is completed.

The Environmental and Socio-economic Impact Assessment (ESIA) for the first well was disclosed on August 28, 2020. Following a 2-month disclosure period, the ESIA document was updated and re-submitted to the government authorities to obtain the necessary permissions to commence drilling activities in the second quarter of 2021.

Earlier, the work was planned to start in the first quarter of this year.

On December 22, 2014, the State Oil Company of Azerbaijan (SOCAR) and BP signed an agreement on exploration work at potential promising structures located in a shallow area around the Absheron Peninsula in the Azerbaijani sector of the Caspian Sea. The agreement covers an area of 1,900 sq. km.

The prospective structures of the shallow water area around the Absheron Peninsula are believed to contain oil reserves. The drilling is planned to be carried out with the Satti floating drilling rig, owned by Kazakhstan’s KazMunayGas company.