40 new wells to be drilled at Azerbaijan’s offshore field in 2016

Baku, Azerbaijan, May 3

By Maksim Tsurkov - Trend:

Forty new wells are planned to be drilled in 2016 at Azerbaijan's Gum Deniz offshore oil and gas field, which is developed within a PSA agreement, said the report of the US Greenfields Petroleum Corporation.

Greenfields Petroleum Corporation is the co-owner of Bahar Energy company, which is an operator of Bahar offshore field in Azerbaijan within the production sharing agreement (PSA) for exploration, rehabilitation, development and extraction of oil and gas at Bahar and Gum Deniz block of fields, as well as operates as the technical consultant.

"The drilling will be conducted from one new and three existing platforms," said the report. "Meanwhile, 22 wells, which will be overhauled, have already been determined."

The average daily volume of oil and condensate output at Azerbaijan's Bahar and Gum Deniz block of offshore fields dropped by one percent - to 1033 barrels per day in 2015.

Azerbaijan's state oil company SOCAR signed a PSA in 2009 with Bahar Energy Ltd. for exploration, rehabilitation, development and extraction at the Bahar-Gum Deniz block.

In March, the US Greenfields Petroleum Corporation signed an agreement to acquire a 66-percent stake in Azerbaijani Bahar Energy Limited Operating Company.

Edited by SI

---

Follow the author on Twitter: @MaksimTsurkov

U.N. says Libya sides reach ceasefire deal
U.N. says Libya sides reach ceasefire deal
U.S. sanctions three new Iranian organizations for alleged election disinformation
U.S. sanctions three new Iranian organizations for alleged election disinformation
Trump tests negative for coronavirus ahead of debate: aide
Trump tests negative for coronavirus ahead of debate: aide
Loading Bars
Latest
Deutsche Bank: Brexit trade costs will be 'material' deal or no deal
Metallurgical products import to Uzbekistan to be reduced via metallurgical plant in Tashkent
Stable basic export rate could help boost Iran's exports
Iran to settle all wheat farmers' claims
WB implements new project in Georgia
President Aliyev holds phone conversation with father of National Hero of Azerbaijan Shukur Hamidov
Iran plans to establish trade centers
New company admitted to Baku Stock Exchange
Shukur Hamidov's name will be immortalized in Gubadli district
Iran reveals its COVID-19 data for October 23
Iran increases number of emergency beds in hospitals
Ambassador welcomes liberation of Azerbaijan's Agbend settlement on border with Iran
Turkey hopes for achieving success in Karabakh conflict settlement together with Russia - Erdogan
Putin's comments were response to those taking anti-Azerbaijani position, analyst says
Kazakhstan's postal service operator to buy petrol via tender
Discussions on Karabakh conflict held at UN Security Council 25 years later - Assistant to Azerbaijani president
Export of cars to Kyrgyzstan spiked - Turkish Ministry of Trade
Turkmenistan increases fruit imports from EAEU countries
It's incorrect to talk about CSTO's help, while conflict taking place in Karabakh - Russian MFA
Azerbaijan confirms 212 more COVID-19 recoveries
No objective benefit for NATO's open support to any party of Karabakh conflict - Russian expert
Georgia reveals total projected harvest of grapes in 2020
Gold, silver prices in Azerbaijan down
Armenia carries out eco-terrorism against Azerbaijan
Georgia names number of beneficiaries received discount cards under agro-diesel promotion program
Captured Armenian soldier admits presence of foreign mercenaries in Armenia (PHOTO/VIDEO)
Azerbaijani media working hard in information space, demonstrating objectivity, accuracy - MP
Daimler lifts profit forecast as China snaps up luxury cars
U.N. says Libya sides reach ceasefire deal
Azerbaijan's CBA to hold deposit auction on Bloomberg platform
Turkey's nine-month export of cars to Italy drops
Sulfur output drops in Kazakhstan year-on-year
Azerbaijani army kills Armenian servicemen and destroys military equipment
Production of coal, gas in Uzbekistan down
Georgia talks about tea plantation rehabilitation project
War against pandemic still being waged - Azerbaijani First VP Mehriban Aliyeva
UK's economic recovery fades in October as pandemic flares up
Azerbaijan's insurance market experiencing new dev't stage
Prosecutor General's Office continues to reveal people carrying out illegal activity in occupied Azerbaijani territories
First VP Mehriban Aliyeva: Today, Azerbaijani people, headed by President Ilham Aliyev, writing new history (Interview)
Armenian provocations hinder development of ICT throughout region - minister (PHOTO)
Armenian PM’s all hopes to drag Russia into Karabakh conflict turned out to be futile - Russian political analyst
CIS raises import of Azerbaijani products
Iran interested in constructive work on liberated border lands of Azerbaijan - ambassador (VIDEO)
Kazakhstan’s DAMU supports new terminal construction in Shymkent int'l airport
LUKOIL significantly increases gas production in Uzbekistan
Data for transactions in foreign currency on Turkmen Commodity Exchange for Sept. 2020
Georgia, Turkey have excellent level of cooperation and dialogue in field of economics - Embassy
CSTO activity does not depend on spontaneous momentary desire of member-states - Russian expert
Azerbaijan's Az-Granata hikes 9M2020 revenues from export of its products
Azerbaijan's deputy PM appeals to Russia regarding Russian MP's illegal visit to Karabakh
Namakhvani HPP project - energy project of century, Georgian minister says
Kazakhstan's electric power distributing company opens tender for transformers installation
Azerbaijan destroys another UAV of Armenian troops
Persimmons export from Uzbekistan increases for 9M2020
Georgia reveals volume of exported persimmons
Volume of electricity generated by Turkmenistan’s Mary power plant revealed
Azerbaijani Prosecutor General's Office gives updates on civil casualties, damages
There is no future for second Armenia within internationally designated borders of Azerbaijan - Azerbaijani FM
Protest rally against Ganja terror was held in Budapest
Prices of Azerbaijani oil continue to grow
The slogan “Karabakh is Azerbaijan” was raised at the rally of the US President
Karabakh conflict will continue until Pashinyan admits reality - Russian general
Uzbekistan, St. Korea to expand effective mechanisms for info exchange in tax area
Georgia reports 1,759 new coronavirus cases, 350 recoveries
Uzbekistan’s Central Bank keeps refinancing rate unchanged
Kazakhstan increases import of cars from Turkey
Armenia must draw conclusions from Moscow's clear position on Karabakh conflict - Turkish government
Co-financed areas to be increased in Georgia
Four more Armenian UAVs neutralized - MoD
Non-resident investors' interest in securities issued by Georgian government grows
Armenian Armed Forces intensively shelling Tartar, Aghdam and Aghjabadi districts - MoD
Azerbaijan discloses information about flora, fauna of occupied territories
Uzbekhydroenergo to directly attract financing in international markets, Fitch Ratings
UK retail sales growth beat expectations in September
Uzbekistan’s 9M2020 volume of financial services revealed
UN Country Office ready to provide humanitarian aid to affected people in Azerbaijan
Emerson gets multi-million dollar contract for Azeri-Chirag-Gunashli
Georgia approves air quality management plan for Rustavi
Turkmenistan names volume of planned rice harvesting in Lebap region
Armenian appeal to NATO is another misleading diplomatic offensive of Yerevan - US expert
A framework agreement of cooperation between IsDB and Standard Chartered Bank
IsDB Group and UAE Ministry of Economy co-organise first digital edition of Annual Investment Meeting on 20-22 October 2020
Oil demand for petrochemicals to decline in advanced world
Famous UK-based poetess of Azerbaijani origin appeals on Armenian aggression against Azerbaijan (VIDEO)
First mobile connection in Karabakh!
Global demand for jet fuel to peak around 2030
Diesel consumption to peak later this decade
Azerbaijani currency rates for October 23
Iran and Russia to lift visa requirements
German Commerzbank ready to expand partnership with Turkmenistan
OSCE Minsk Group's co-chairman from Russia goes to US Washington for meetings on Karabakh
Almost all countries to see lower oil demand in 2021 than in 2019
Iran lifts rice import ban
Timing of US Secretary of State's meeting with Azerbaijani Foreign Minister announced
Members of Nizami Ganjavi International Center send letter President Aliyev
Oil prices to be higher than projected levels in 2020
Uzbekistan reveals its COVID-19 data for October 23
Iran reduces cars imports from Turkey
Azerbaijan's 9M2020 exports to Ukraine increases
All news