Canada’s Zenith Energy finishing well overhaul in Azerbaijan
Baku, Azerbaijan, May 26
By Maksim Tsurkov – Trend:
Zenith Energy Ltd., a Canadian oil and gas company, is preparing to complete the overhaul of the M-195 well at the Muradkhanli, Jafarli and Zardab onshore block, a source in Azerbaijan’s oil and gas market told Trend May 26.
The company is going to proceed with the final stage drilling at the well, according to the source.
“A local drilling contractor operating as Team B has already completed installation of the casing string at the M-195 well,” the source said. “Cement quality assessment process is currently underway. After the cementing, the company will proceed to the final stage of drilling to a depth of 3,045 meters.”
Azerbaijan’s Muradkhanli, Jafarli and Zardab oil fields are controlled and operated by Zenith Aran, Zenith Energy’s wholly owned subsidiary in the country.
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.