TPAO, SOCAR, and BP to Sign Gas Production-Sharing Agreement for Shafag-Asiman Block

Turkish state oil company TPAO, Azerbaijan's SOCAR, and BP are set to sign a gas production-sharing agreement for the Shafaq-Asiman offshore block in the Caspian Sea. Turkey's Energy Minister Alparslan Bayraktar announced the agreement at the Baku Energy Week conference on Monday. TPAO will hold a 30% share in the project. The agreement is scheduled to be signed on Tuesday. The Shafaq-Asiman block is located 125 kilometers southeast of Baku at a depth of 650-800 meters.