Azerbaijani oil field may be renamed
Baku, Azerbaijan, Feb. 11
By Leman Zeynalova – Trend:
Azerbaijan’s Zardab oil field may be renamed in honor of non-executive Director of Canada’s Zenith Energy Ltd, Francesco Salimbeni, who passed away Feb. 10.
Zenith Aran, which is a wholly owned subsidiary of Canada’s Zenith Energy Ltd in Azerbaijan, will apply to the country’s relevant authorities to rename the Zardab field – considered by some geologists as a very promising field – to the 'Salimbeni' field, reads a message posted on the website of Zenith Energy.
“A plaque in Francesco's memory will also be placed at the well with the most sizeable production increase following workover,” said Zenith Energy.
Francesco Salimbeni served as non-executive director of Zenith and was an engineer with over 50 years of experience in technical and management positions in the petroleum industry.
More specifically, Salimbeni was an internationally recognized oil recovery specialist and had served as an advisor to the Italian government and many private enterprises internationally on various matters, including environmental responsibility, conservation, desalination and waste management.
Azerbaijan’s state oil company SOCAR and Zenith Aran Oil Company signed March 2016 a rehabilitation, exploration, development and production sharing agreement for a block that includes Muradkhanli, Jafarli and Zardab oil fields. These fields cover an area of 642.2 square kilometers. Production under the Zenith banner began on August 11, 2016.
Zenith holds an 80 percent participating interest in the three fields within the contract area – Muradkhanli, Jafarli and Zardab – while 20 percent are held by a SOCAR-owned affiliate company.
The agreement is for 25 years with a potential extension for 5 years.
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