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
-
By the end of 2024, inflation in Azerbaijan is projected at 5.1%, increasing to 5.8% in 2025, as per the Central Bank's announcement. Just six months ago, in April, the bank had forecasted inflation at 3.5% for 2024 and 4.2% for 2025.
-
The Cabinet of Ministers of Azerbaijan has approved the charter of the "Tourism and Recreation Zones Management and Development Center," a public legal entity under the State Tourism Agency. The decision, made on November 4, is intended to fulfill the requirements outlined in the presidential decree from August 2, 2024.
-
A new desalination plant to produce drinking water is set to be built in Sumgait, Azerbaijan, as part of a project aimed at meeting increasing water demands in Baku and the Absheron Peninsula. The project was announced on November 5 during a bid-opening ceremony for proposals submitted in a tender for the plant’s development, according to the Turan news agency.
-
Heydar Aliyev International Airport (GYD) has solidified its role as a critical transit hub for Azerbaijan, connecting Baku to over 80 international destinations across more than 30 countries. With routes linking major European cities like London, Paris, and Rome, as well as strategic points in the Middle East, Central, and South Asia, the airport has become central to Azerbaijan’s tourism and transit expansion.
Leave a review