Baku, Azerbaijan, June 20
By Tamilla Mammadova - Trend:
Drilling at the Jafarli field, part of the Muradkhanly contract area on the land of Azerbaijan, where Canadian company Zenith Energy is the operator, will soon begin, Trend reports this with reference to directorstalkinterviews.com.
According to Andrea Cattaneo, CEO of the company, the most important thing is that the missing equipment necessary for drilling be delivered to Azerbaijan as soon as possible. “When it will be located at the well site, investors will be given more detailed information,” the general director noted.
The company has already made an important step this year by purchasing its own drilling rig. “Few companies have their own drilling rig,” said Cattaneo, stressing that this would give the company advantages and provide flexibility in implementation of the drilling program.
“So there is a lot of oil, and now we can carry out drilling operations through our own installation and start production,” said Andrea Cattaneo.
An important role is played by the sequence, analysis and determination of the parameters of future drilling and the location of the well. “The reserves of our site are 32 million barrels,” the director said, but the company expects an increase in inventory valuation.
Zenith Energy operates the largest oil field onshore in Azerbaijan after signing in 2016 with the SOCAR State Oil Company a 25-year agreement on rehabilitation, exploration, development and shared production.