BAKU, Azerbaijan, June 2. It's planned to
combine all existing seismic data in the Azerbaijani sector of the
Caspian Sea into a single database within the framework of the
joint project implemented by bp and SOCAR, bp's Vice President
Subsurface for Azerbaijan, Georgia, and Türkiye, Dan Sparkes, said
at a panel discussion held on the second day of the Baku Energy
Week, Trend
reports.
According to him, although companies in the oil and gas industry
often appear as competitors, in reality, cooperation between
operators operating in the same region creates more benefits than
competition. Sparkes noted that the main competition is related to
other regions, as markets with cheaper production costs gain an
advantage in attracting investment.
He pointed out that large projects such as Azeri-Chirag-Gunashli
(ACG) have undergone a major development phase over many years, and
it is possible to create new infrastructure, vessels and technical
capabilities in these areas.
"However, such extensive financial opportunities are not always
available in future projects. Therefore, sustainable development in
the field is possible only through resource and technology sharing
between companies. Shared infrastructure - including platforms,
equipment and vessels - creates conditions for the creation of new
opportunities in the region," he explained.
Sparkes particularly praised the cooperation between bp and
SOCAR, and said that this model can be expanded with the
participation of other companies in the future.
He added that one of the successful experiences in this area is
Canada's Alberta province. According to him, there is an open data
exchange system in that region, which allows companies to develop
more fields more efficiently.
"In the Alberta experience, geological and technical data on all
wells is openly available. This system allows companies to use a
common platform rather than their own internal databases and allows
for the discovery of more reserves," he said.
Sparkes noted that within the framework of the joint project
implemented by bp and SOCAR, it is planned to combine all existing
seismic data in the Azerbaijani sector of the Caspian Sea into a
single database.
According to him, the Caspian basin is a very rich region in
terms of hydrocarbon resources, but there are still insufficiently
studied areas and seismic data gaps.
He added that this situation is different compared to the Gulf
of Mexico, because that region is more fully covered by seismic
surveys.
The bp official said that in the future, wider cooperation
between companies is important to fill these gaps and obtain new
data.
"This process cannot be carried out by a single company. Success
is possible only through joint cooperation and information
exchange," Sparkes emphasized.
