Baku, Azerbaijan, Sept.7
By Leman Zeynalova – Trend:
Canadian Zenit Energy company’s rehabilitation activities at Azerbaijan’s Muradkhanli-Jafarli-Zardab block of onshore fields will focus on three areas, said the message on the company’s website.
“These include an electrical submersible pump upgrade program, high impact well workovers in the Zardab field and the perforation of new productive zones,” said the company.
The final goal of these activities is to achieve 1,000 barrels of oil per day by March 31, 2018, according to the message.
Zenith’s current production of oil in Azerbaijan averages approximately 350 barrels of oil per day. This figure takes into account downtime at a number of wells resulting from Zenith’s field rehabilitation program.
Azerbaijan’s state oil company SOCAR and Zenith Aran Oil Company signed a Rehabilitation, Exploration, Development and Production Sharing Agreement (REDPSA) in March 2016 for a block that includes the Muradkhanli, Jafarli and Zardab oilfields. These fields cover an area of 642.2 square kilometers. Production under the agreement began in August of 2016.
Zenith holds a 80-percent participating interest in the three fields within the contract area, while SOCAR retains the remaining 20 percent. The duration of the agreement is 25 years, with a potential extension of 5 additional years.
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