Baku, Azerbaijan, Dec. 5
By Maksim Tsurkov – Trend:
In January-September 2016, average daily output of oil and condensate at the Azerbaijani block of Bahar and Gum Deniz offshore fields, which are being developed within a production sharing agreement, decreased by 22 percent to 838 barrels per day, said a report of the Greenfields Petroleum Corporation.
According to the report, 25 oil wells at the block were overhauled.
Average daily output of gas at the Bahar field increased by 2 percent and exceeded 560,000 cubic meters per day.
The overhaul of 25 wells helped to stop the decline in oil production, said the report, it is expected that until late 2016 the company will complete the overhaul of five oil and gas wells.
Greenfields Petroleum Corporation is a 100-percent owner of Bahar Energy Ltd., which is an operator of the Bahar offshore field within an agreement on exploration, rehabilitation, development and production of oil and gas at the Bahar-Gum Deniz block.
The PSA for exploration, rehabilitation, development and extraction at the Bahar-Gum Deniz block was signed between Azerbaijan’s state oil company SOCAR and Bahar Energy in 2009.
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