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Shallow Water Absheron Peninsula

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Title: Shallow Water Absheron Peninsula  
Author: World Heritage Encyclopedia
Language: English
Subject: Oil fields of Azerbaijan, BP, Darwin Bank, Umid gas field, Caspian Sea
Collection: Bp, Caspian Sea, Energy in the Soviet Union, Oil Fields of Azerbaijan
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Shallow Water Absheron Peninsula


Shallow Water Absheron Peninsula (SWAP) is a PSA signed on 22 December 2014 between SOCAR and BP on the joint exploration and development of potential prospects in the shallow water area around the Absheron peninsula.[1] The contract was ratified by the Azerbaijani parliament on 14 April 2015.[2]

The PSA contract area covers 1,900 km2 and stretches along the margins of the Caspian basin to the south of the Absheron peninsula.[3] The acreage features water depths of up to 40 metres with potential reservoir depths of 3,000-5,000 metres.[4][5] The development term is 23 years with possible extension.[6]

References

  1. ^ BP and SOCAR Sign an Agreement to Explore Shallow Water Absheron Peninsula, BP Press Release 22 December 2014
  2. ^ Azerbaijan ratifies new oil contract with BP, trend.az, 14 April 2015, retrieved on 16 April 2015
  3. ^ Parliament ratifies SOCAR, BP PSA on shallow water Absheron, ann.az, 15 April 2015, retrieved on 16 April 2015
  4. ^ PSA to explore shallow water Absheron Peninsula signed, Caspian Energy, 22 December 2014
  5. ^ BRIEF - BP and SOCAR sign agreement to explore shallow water Absheron Peninsula, Reuters, 22 December 2014
  6. ^ Parliament of Azerbaijan ratified agreement between BP and SOCAR for hydrocarbons exploration and development in shallow waters of Absheron, abc.az, 14 April 2015, retrieved on 16 April 2015


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