Development plans announced for Azerbaijani fields

Oil&Gas Materials 20 July 2011 18:05 (UTC +04:00)

Azerbaijan, Baku, July 20 /Trend, A.Badalova /

Roughly 58 wells are planned to be drilled at the Gum Deniz and Bahar oil and gas fields in the Azerbaijani sector of Caspian Sea over the next four years, the Greenfields Petroleum Corporation reported in July.

The Greenfields Petroleum Corporation has a 33.33 percent in Bahar Energy, the operator of the Bahar offshore field within a PSA agreement signed for exploration, rehabilitation, development and production at the Bahar and Gum Deniz fields. It acts as its technical consultant.

Bahar Energy Limited was registered in the Jebel Ali free economic zone in the UAE.

About 101 wells will be re-pumped on these fields for the next four years. Six new oil platforms will be built and installed.

Eight old platforms will be modernized.

Two-dimensional seismic surveys will be held at Gum Deniz and Bahar.
Three-dimensional seismic surveys will be held at Bahar-2.

According to the Greenfields Petroleum Corporation, all the necessary equipment is ready for the repeated pumping of the wells and the modernization of the fields within phase one.

The total production is estimated at 122 billion cubic meters and 84 million barrels of condensate within the first phase.