Azerbaijan’s state oil company Socar has agreed with BP on joint exploration of shallow waters off the Absheron peninsular for oil, Socar Vice President Khoshbakht Yusifzade told reporters today in Baku.

Yusifzade said smaller reserves of oil and gas could be found in the exploration area. He didn’t say when the agreement was signed.

BP is the operator of Azerbaijan’s largest ACG oil project and Shah Deniz natural gas development.

Yusifzade was speaking on the sidelines of an oil and gas conference in the Azeri capital. 

Bakudaily.az