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BP sells a 25% stake in SWAP exploration project in Azerbaijan

29.09.2021,15:48


September 29, Fineko/abc.az. BP has agreed to sell a 25% participating interest in the Shallow Water Absheron Peninsula (SWAP) exploration project in the Azerbaijan sector of the Caspian Sea to LUKOIL, ABC.AZ was informed at BP.

Following completion of the sale, BP will remain operator of the SWAP production sharing agreement (PSA) during the exploration period, holding a 25% interest. On completion, participating interests in the PSA will be: SOCAR Oil Affiliate – 50%, bp – 25% and LUKOIL – 25%.