Bp And SOCAR To Combine Seismic Data In Caspian Sea Into Single Database

2026-06-02 06:05:22

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 2. It's planned to combine all existing seismic data in the Azerbaijani sector of the Caspian Sea into a single database within the framework of the joint project implemented by bp and SOCAR, bp's Vice President Subsurface for Azerbaijan, Georgia, and Türkiye, Dan Sparkes, said at a panel discussion held on the second day of the Baku Energy Week, Trend reports.

According to him, although companies in the oil and gas industry often appear as competitors, in reality, cooperation between operators operating in the same region creates more benefits than competition. Sparkes noted that the main competition is related to other regions, as markets with cheaper production costs gain an advantage in attracting investment.

He pointed out that large projects such as Azeri-Chirag-Gunashli (ACG) have undergone a major development phase over many years, and it is possible to create new infrastructure, vessels and technical capabilities in these areas.

"However, such extensive financial opportunities are not always available in future projects. Therefore, sustainable development in the field is possible only through resource and technology sharing between companies. Shared infrastructure - including platforms, equipment and vessels - creates conditions for the creation of new opportunities in the region," he explained.

Sparkes particularly praised the cooperation between bp and SOCAR, and said that this model can be expanded with the participation of other companies in the future.

He added that one of the successful experiences in this area is Canada's Alberta province. According to him, there is an open data exchange system in that region, which allows companies to develop more fields more efficiently.

"In the Alberta experience, geological and technical data on all wells is openly available. This system allows companies to use a common platform rather than their own internal databases and allows for the discovery of more reserves," he said.

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