Caspian Geophysical conducts 3D-seismic on Shafag-Asiman perspective block

By the end of the year, the Caspian Geophysical JV plans to complete three-dimensional seismic studies on the prospective block "Shafag-Asiman", a contract for exploration, development and production sharing on which was ratified by the Parliament of Azerbaijan on May 6, SOCAR (State Oil Company of Azerbaijan) said.

Azerbaijan Gilavar ship is expected to arrive in the structure to carrying out seismic researches. After conducting seismic researches on "Shafag-Asiman" through the ship, it is planned to implement a three-dimensional seismic on the "Babak" perspective structure and "Umid" field.

In May, BP-Azerebaijan and Caspian Geophysical signed a contract to carry out 3D-seismic.
Since 2005, the Gilavar ship has conducted works outside the Caspian Sea for such major energy companies as BP, Shell, Maersk, Petrobras.

The SOCAR and BP signed the PSA on "Shafag-Asiman" for a period of 30 years. The exploration period is 4 years with possible prolongation for another 3 years. The first stage of exploration works envisions drilling of two wells. The second one assumes drilling of two more wells, if necessary. As the sides go over to the production stage, they will operate the project jointly. The two companies hold equal interests in the project.


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