Shallow Water Absheron Peninsula

Shallow Water Absheron Peninsula (SWAP) is a prospective exploration area around the Absheron Peninsula in Azerbaijan. On 22 December 2014, SOCAR and BP signed a production sharing agreement on the joint exploration and development of potential prospects in the shallow water area around the Absheron peninsula.^[1] The contract was ratified by the Azerbaijani parliament on 14 April 2015.^[2]

Shallow Water Absheron Peninsula
Country	Azerbaijan
Region	Caspian Basin
Offshore/onshore	offshore
Operator	BP
Partners	BP (25%), Lukoil (25%), SOCAR (50%)

The PSA contract area covers 1,900 km² and stretches along the margins of the Caspian basin to the south of the Absheron peninsula.^[3] The acreage features water depths of up to 40 metres with potential reservoir depths of 3,000-5,000 metres.^[4][5] The development term is 23 years with possible extension.^[6]