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SOCAR and BP sign new agreement

06 October 2012 08:41 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. BP and the Geology and Geophysics department of the State Oil Company of Azerbaijan Republic (SOCAR) signed a Framework Agreement on Technical Servicesâ€.

SOCAR told APA-Economics that making a speech in the signing ceremony SOCAR Vice-President Khoshbakht Yusifzadeh said that it will be widely used from SOCAR services in providing technical services on intelligence and evaluation projects where BP is the operator.

The document was singed by chief of the Geology and Geophysics department of SOCAR Vagif Abdullayev and executive manager of Framework Agreement Paul Evans.

Making a speech at the event, BP Vice President of Exploration & Evaluation Greg Riley noted that the agreement confirmed the richest experience and knowledge of SOCAR in exploration and evaluation sphere in the water area of the Caspian Sea: â€œSOCAR was always ready to share its experience and we believe that this agreement will further deepen our cooperation.â€

According to the agreement, BP plans to use the SOCAR services on the repeated processing of the data of seismic survey 2D on block of Shafag-Asiman structures as well as the seismic interpretation of main layers while holding seismic 3D survey.