Fossil Energy – Exploration
BP plans to explore for new oil fields in the Azeri Caspian Sea, BP’s upstream chief Gordon Birrell told Reuters.
BP is already working on stemming declining output at producing fields in the Caspian Sea, namely the Azeri–Chirag–Gunashli (ACG) complex of oilfields and the Shah Deniz gas field, but had not previously talked about new exploration.
“We are progressing several exciting opportunities in Azerbaijan, from further development of ACG and Shah Deniz within existing (production sharing agreements), to accessing discovered (non-developed) resources to exploration opportunities,” Birrell said this week.
“It remains a very active area for our investments in upstream.”
