BP begins seismic survey at Karabagh field offshore Azerbaijan

BAKU. Dec 22 (Interfax) - BP Plc has launched a seismic survey at the Karabagh oil field in Azerbaijan's sector of the Caspian Sea, Dan Sparkes, BP Vice President Subsurface, Azerbaijan, Georgia and Turkey region, said on social media.

"Karabagh field operations have officially begun. This week we started the High Density Ocean Bottom Node (HDOBN) 3D seismic survey. The goal is to reduce resource uncertainty, plan the development and get to a Final Investment Decision," Sparkes said.

The survey is being carried out by Caspian Geo.

As reported, the Karabagh seismic program consists of two stages. One is seismic exploration, using Ocean Bottom Nodes (OBN). The second is High-Resolution (HR)/Ultra High-Resolution (UHR) seismic survey. The first stage was set to begin in December and take three and a half months, and the second will begin after the completion of the first, in March-April 2026, and a month and a half.

BP has completed the acquisition of 35% participating interests in the Karabagh block and the Ashrafi - Dan Ulduzu - Aypara (ADUA) block in the Azerbaijan sector of the Caspian Sea.

Agreements finalizing the deal were signed on June 3 by BP and the State Oil Company of the Azerbaijani Republic (SOCAR) on the sidelines of Baku Energy Week.

SOCAR retained 65% stakes in both projects. BP is operator of the projects.

BP joined the existing Risk Service Contract for the Karabagh field.

BP plans to begin oil production from the Karabagh field in 2029.

The field's in-place oil reserves are more than 60 million tonnes. Recoverable reserves are 21 million tonnes oil and 13 billion cubic meters gas.

The Karabagh field is located 120 km east of Baku, 20-25 km from the Gunashli field in the Caspian, at a depth of 150-200 meters. The ADUA block is 90-110 km northeast of Baku, at depths of 80-180 meters.