UK supermajor BP is planning further investments off Azerbaijan, both at new projects and at its giant maturing Azeri, Chirag, Guneshli (ACG) development.
BP has already sent Azeri state oil company Socar a notice of prospectivity regarding its shallow-water Absheron peninsula (SWAP) project and has agreed three areas where exploration wells will be spudded.
Drilling could start towards the end of this year, BP’s regional president Gary Jones said, adding: “We expect to find oil here, and we should be able to produce it very quickly if we make a discovery.”
