(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 17.​ bp plans to continue exploration work on Azerbaijan's Shafag-Asiman gas field in the next stage, bp's Vice President for the Caspian Region, Bakhtiyar Aslanbayli, told the media, Trend reports.

"We are in the stage of deciding which drilling rig to use to conduct exploration work and coordinating it with other projects.

He emphasized that once the rig is released from its current project, it will be deployed to the Shafag-Asiman gas field.

The Shafag-Asiman block is situated 125 kilometers southeast of Baku, covering an area of 1,100 square kilometers and located at water depths ranging from 650 to 800 meters. The Shafag-Asiman structure was initially discovered in 1961 during seismic exploration. On October 7, 2010, SOCAR and BP signed a Production Sharing Agreement (PSA) for the joint exploration and development of the Shafag-Asiman offshore block, with a 30-year term. Both SOCAR and BP hold equal shares in the project. In 2012, 3D seismic surveys were conducted at the site, and the interpretation of the seismic data was completed in 2015. Following this, the partners reached an agreement on the site for the first exploration well.

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