Azerbaijan, Baku, March 6 /Trend E.Ismayilov/
A representative office of the Greenfields Petroleum International Company (Virgin Islands) has passed registration in Azerbaijan, the Tax Ministry said on Tuesday.
The founder is the Greenfields Petroleum International Company and the official representative is Abbas Atakishi. The office was registered in February.
Greenfields Petroleum Corporation is the co-owner of the Bahar Energy company, the operator of the offshore Bahar project under a PSA agreement. Bahar Energy Limited was registered in the Jebel Ali free economic zone in the UAE.
Previously, SOCAR signed a PSA contract with the Bahar Energy Limited for the exploration, rehabilitation, development and production of a block, which includes the offshore Bahar and Gum Deniz fields. The contract was ratified by the Azerbaijani parliament.
According to initial estimates, Bahar Energy Limited will invest $1 billion to conduct the work under the contract.