Official: BP, SOCAR look ahead to next 30 years of cooperation

BP and the State Oil Company of Azerbaijan (SOCAR) are confident in the prospects for continued successful cooperation, BP’s Vice President of Subsurface in the Azerbaijan, Georgia and Türkiye region, Dan Sparkes, said during the 30th anniversary Baku Energy Forum.

“Together with SOCAR, we are looking to the future - to the next 30 years. It will be a different time, with new challenges, but we are confident that we can deliver another period of sustained success," he said, Caliber.Az reports citing local media.

According to him, the mission is to mitigate the natural decline in production and bring new resources into development, which he refered to as "simple in formulation, but extremely difficult to realise.” 

He noted that the Azeri-Chirag-Gunashli (ACG) field has become the backbone of the region's export energy infrastructure and an important element of its industrial development.

“This is changing the way we approach geological exploration. The development process is influenced not only by logistics and available pipeline capacity, but also by integration with existing infrastructure and service capabilities in the basin," the official stated. 

He also exprerssed confidence that now is the best time for integrated work: effective management of brownfields, active promotion of discovered resources into development and parallel exploration expansion. 

By Sabina Mammadli