British company bp is planning to explore new oil fields in the Azerbaijani sector of the Caspian Sea, Azernews reports, citing bp's Head of Exploration and Production, Gordon Birrell, as he said in an interview with Reuters.

"We are pursuing a number of exciting opportunities in Azerbaijan, from further development of the Azeri-Chirag-Gunashli (ACG) and Shah Deniz fields under existing production sharing agreements to accessing discovered resources and exploration opportunities. This remains a very active area for us to invest in production," G. Birrell emphasized.

It should be noted that bp is increasing its oil and gas business expenses while reducing expenses in its low-carbon divisions as part of its updated strategy announced last month.

As reported, bp launched a seismic survey program using new 4-dimensional (4D) high-precision seabed nodes in the ACG field starting January 20, 2024. In terms of the area to be surveyed, the total cost of the work, and the duration of the project, this is the largest seismic data collection program BP has ever undertaken worldwide.

This program aims to study the "Balakhani" and "Fasila" blocks, the current productive layers of the ACG field, which will allow detailed information to be obtained about their architecture and fluid contact dynamics.