BP and SOCAR Advance Shafag-Asiman Gas Development

BP and SOCAR are advancing development of the Shafag-Asiman gas field in Azerbaijan's deep-water Caspian sector, with first production targeted for 2027. The joint venture represents a significant expansion of Azerbaijan's gas production capacity as European markets seek diversified supply sources.

The field, located approximately 125 kilometers southeast of Baku in water depths exceeding 600 meters, holds estimated reserves of 500 billion cubic meters of natural gas. Development will utilize existing Southern Gas Corridor infrastructure, enabling efficient delivery to European markets.

SOCAR holds a 50 percent stake in the project, with BP operating the remaining share. The partnership builds on decades of successful cooperation in Azerbaijan's hydrocarbon sector, including the landmark ACG oil development and Shah Deniz gas projects.

Engineering and procurement work is progressing, with platform construction expected to commence in late 2025. The development plan includes drilling multiple wells and installing subsea production systems connected to processing facilities.

Azerbaijan's gas exports through the Southern Gas Corridor have become increasingly strategic for European energy security. The country supplied over 12 billion cubic meters to European markets in 2024, with capacity expansions planned to reach 20 billion cubic meters annually by 2027.