BP is conducting the world's largest seismic data collection program in Azerbaijan
BP is conducting the world's largest seismic data collection program in Azerbaijan
BP, the renowned operator of the Azeri-Chirag-Deepwater Guneshli (ACG) field development project, has embarked on an unprecedented venture in the realm of seismic research. The company's latest initiative, a groundbreaking 4-dimensional (4D) high-definition seismic research program, was inaugurated at the ACG field on January 20, as reported by the BP-Azerbaijan press service.
This ambitious endeavor stands out as the world's most extensive seismic data collection commitment, spanning diverse dimensions such as the geographical expanse, financial investment, and temporal commitment. The primary focus of this colossal undertaking is the exploration of the "Balakhany" and "Fasil" productive layers within the ACG block.
Encompassing an impressive 740 square kilometers under the seismic source and an additional 507 square kilometers under the receivers, the 4D seismic exploration program sets a new benchmark in the field. BP has allocated a staggering $370 million for this venture, emphasizing its unwavering commitment to pushing the boundaries of technological innovation and scientific exploration. The comprehensive program is slated to unfold over a span of five years, extending from 2024 to 2028.
Planning for this expansive program commenced early last year, showcasing BP's strategic foresight and meticulous preparation. The execution of the program will involve five monitoring sessions conducted over the course of five years, employing cutting-edge underwater nodes and specialized supply vessels, namely "Murovdag" and "Guba."
Roshni Musai, BP's Vice President for Subsoil Use in Azerbaijan, Georgia, and the Turkic region, underscored the significance of the ACG field, labeling it as the largest oil field under BP's management. Musai emphasized the importance of gaining a comprehensive understanding of the reservoir architecture and fluid contact movements within the ACG block. The utilization of state-of-the-art 4D technology in this program is anticipated to furnish invaluable reservoir data, empowering BP to minimize unforeseen challenges in future well operations and maximize field production in the decades to come.
Executing this monumental program falls under the purview of Kaspiy Geo LLC, further solidifying BP's strategic partnerships in the pursuit of pioneering advancements in the oil and gas sector.
Economics
-
Azerbaijan’s Minister of Economy, Mikayil Jabbarov, participated in the "Circle of Leaders: Financing the Energy Transition - New Horizons" session during the World Economic Forum (WEF) in Davos, emphasizing the country’s strategic role in global energy security and its green energy transition initiatives.
-
Around 200 employees of SOCAR, Azerbaijan's state oil company, staged a strike in Batumi, Georgia, on January 21,demanding wage increases, local outlet Batumelebi reported. Participants included technicians and staff from various departments who argued that their long-standing minimal salaries fail to reflect their workload.
-
On January 21, during a meeting in Davos, Azerbaijani President Ilham Aliyev met with Henrik Poulsen, Chairman of the Supervisory Board of Carlsberg Group, and Jacob Aarup-Andersen, the company's CEO. The discussions emphasized Carlsberg Group's expanding presence in Azerbaijan and its commitment to developing local production and sustainability.
-
In 2024, Azerbaijan's "Single Window" Export Support Center processed 1,747 requests from businesses and individuals, facilitating the issuance of 3,982 export certificates. According to Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communications, these efforts supported export operations valued at USD 288.2 million.
Leave a review