Canadian company speeds up well workover at Azerbaijani oil block
Baku, Azerbaijan, May 9
By Maksim Tsurkov – Trend:
Canada’s Zenith Energy Ltd, which is an operator of Azerbaijan’s Muradkhanli-Jafarli-Zardab onshore block of oil fields, significantly accelerated well workover at the block, a source in the Azerbaijani oil and gas market told Trend.
The contractor has successfully completed sidetracking in the casing string of the M-195 well at the Muradkhanli field, according to the source.
The source added that the work at the field is underway and it is being carried out at night time as well.
Azerbaijan’s state oil company SOCAR and Zenith Aran Oil Company signed March 2016 a rehabilitation, exploration, development and production sharing agreement on the block that includes Muradkhanli, Jafarli and Zardab oil fields. These fields cover an area of 642.2 square kilometers. Production under the Zenith banner began August 11, 2016.
Zenith holds an 80 percent participating interest in the three fields within the contract area – Muradkhanli, Jafarli and Zardab – while a SOCAR Oil affiliate company (fully owned by SOCAR) holds the remaining 20 percent. The duration of the agreement is 25 years, with a potential extension of 5 additional years.