SLB, BP ink deal for seismic data processing at Karabakh field in Caspian Sea

Oilfield services corporation SLB has signed an agreement with BP to process seismic data as part of the development of the Karabakh field in the Caspian Sea, Report informs citing SLB.

This contract is a logical continuation of two previously concluded agreements for other offshore oil and gas projects in the Caspian, where BP acts as the operator.

"SLB's deep regional expertise and longstanding presence in Azerbaijan, combined with consistent delivery of high-quality imaging and actionable reservoir insights, continue to set the standard for seismic performance in the Caspian basin," the company's official statement emphasizes.

On June 3, 2025, during Baku Energy Week, BP signed an agreement with SOCAR to acquire a 35% stake in the Karabakh field development project. The remaining 65% in the project belongs to SOCAR.

BP plans to make a final investment decision on the Karabakh field by mid-2027.

The Karabakh field is located 120 km east of Baku and 20–25 km from the Gunashli field, at a water depth of 150–200 meters. According to preliminary estimates, geological oil reserves at the field exceed 60 million tons, of which 21 million tons of oil and 13 billion cubic meters of gas are considered recoverable.