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BP and SOCAR sign a master services agreement

Release date:
5 October 2012

BP as operator of Azerbaijan’s major oil and gas development and exploration projects, today signed a Master Services Agreement with the geology and geophysics department of SOCAR to more widely utilize SOCAR’s capabilities in providing technical services to BP-operated projects.

Addressing the agreement-signing ceremony held in SOCAR today Greg Riley, BP’s Vice-President, Exploration and Appraisal, said:” We are very pleased to enhance our cooperation with SOCAR in the areas of geological and geophysical services. BP has 20 years long history of cooperation with SOCAR and this agreement once again recognises the experience and knowledge that SOCAR has in exploring and appraising in the Caspian. SOCAR have always been ready to share their experience with us and we believe this agreement will turn into an important tool to further deepen our cooperation”.

Under the newly-signed agreement BP, as operator of the Shafag-Asiman Production Sharing Agreement (PSA), is planning to use SOCAR services for reprocessing of 2-dimensional lines around Shafag-Asiman contract area and seismic interpretation of framework horizons on the Shafag-Asiman 3-dimensional survey to form the framework for the 3D processing.