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
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