“Herewith the logging and drilling of the Fasila stratum of the field was successfully completed. To define the exact volume of hydrocarbon reserves, the parties of the project are going to work out a technical plan for drilling of an additional lateral well in the direction of the structure’s arch,” the statement said.

Exploration work on the Shafag-Asiman block is a joint project of SOCAR and bp. According to the Production Sharing Agreement, bp is the operator of exploration drilling.

On January 11, 2020, SOCAR's subsidiary Caspian Drilling Company’s started drilling the exploratory well on the 623-meter-deep seabed.

“The history of cooperation between bp and SOCAR comprises a period of about 30 years. During this period, many projects of global importance have been carried out. These include such joint projects as the development of Azeri-Chirag-Gunashli (ACG) block, the Baku-Tbilisi-Ceyhan (BTC) pipeline, the Shah Deniz, the Southern Gas Corridor (SGC) and its elements - the SCP, TANAP, and TAP pipelines,” Azerbaijani President Ilham Aliyev said. (ILKHA)