BP to consider exploration program in D230 block

On D230, located in the Azerbaijani sector of the Caspian Sea, the interpretation of the seismic data is currently ongoing, said BP-Azerbaijan.

Report informs that if the results from the interpretation of the seismic survey are positive, BP will consider further exploration activities.

BP and SOCAR signed a Production Sharing Agreement (PSA) in April 2018 to conduct joint exploration work in potentially promising structures within the D230 block in the Northern Absheron Basin in the Azerbaijani sector of the Caspian Sea. The agreement was ratified by the Azerbaijani parliament in October 2018.

Under the 25-year PSA, BP will be the operator during the exploration period with a 50% stake, with the other 50% going to SOCAR. Block D230 is located approximately 80 km off the coast of Azerbaijan and covers an area of roughly 3,222 km. The water depth varies between 100 m and 800 m.