BP JV incoming ?20 Feb 2026 08:29
BP (British Petroleum): Plays a critical role in the region by operating major pipelines, including the Baku-Tbilisi-Ceyhan (BTC) pipeline and the South Caucasus Pipeline (SCP).
Paul Haywood, Chief Executive Officer of Block Energy, commented:
'We are very pleased to have received a farm-in offer from a strong prospective JV partner with whom we have progressed extensive negotiations. While there is no certainty that a transaction will complete, the non-binding offer meets our core objectives: a full carry of the appraisal programme and early-stage development of Patardzueli-Samgori, a field with over 1 Tcf of 2C contingent gas resources, with material upside across the Rustavi and Teleti fields as well as the South Dome exploration prospect which are all located within 15 miles of the South Caucasus Pipeline, one of Europe's major gas import corridors.
Philip Dimmock
Non-Executive Chairman
Philip spent a significant part of his career at BP in a wide variety of senior positions, including manager of the Forties oil field. Subsequently, his executive roles included Vice President International/Managing Director UK at Ranger Oil Ltd/Canadian Natural Resources and Vice President Operations at Vanco Energy. In non-executive board positions, Philip was a director of Nautical Petroleum Plc and, recently, the Senior Independent Director of Gulf Keystone Petroleum Ltd. He currently serves as Advisor to Oando Energy Resources Inc. Philip has an MA in Physics from the University of Oxford.
Dr Stephen James
Subsurface Manager
Stephen has over 40 years experience working as a geoscientist in field development and reservoir management, mainly in the course of working for Shell and BP. He has worked on a range of fractured reservoirs including BP’s Clair field where Stephen served as the lead development geologist andku subsurface manager. He also has significant former Soviet Union experience including having worked in Siberia and Yamal and is familiar with the technologies and development styles employed in the region. Stephen holds a PhD in Sedimentology from the University of Aston.
2 directors Ex BP on the board at Block Energy and BP operating the South Caucasus pipeline. Doesn’t take a rocket scientist to work out who the strong & large partner could be that has signed non binding heads of terms with Block Energy.
This has got a possible 10 bagger written all over this with $95M JV secured as well at the Carbon storage facility progressing worth billions and the best yet to come with project 111. I think we have a clear odds on favourite
https://edmo.seadatanet.org/report/1764
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