Bahar Energy Limited to buy 2 modular drilling rigs for operation in Caspian Sea
Baku, Azerbaijan, Nov. 22
By Maksim Tsurkov – Trend:
Bahar Energy Limited, which is developing an oil and gas block in Azerbaijan that includes Bahar and Gum Deniz fields in the Azerbaijani sector of the Caspian Sea, plans to purchase two modular drilling rigs in 2018, a source in the Azerbaijani oil and gas market told Trend Nov. 22.
According to the source, the company has a limited access to the vessels with a big load capacity. As a result, repair is delayed.
"In this regard, the company plans to solve this issue by purchasing two modular drilling rigs, which are expected to be delivered in early 2018 and can be used along with smaller crane vessels," the source said.
The source said that Bahar Energy company plans to reactivate production at the southern flank of the Gum Deniz field by repairing platforms # 409 and # 412 and installing electric submersible pumps in seven wells till late 2017 and in 2018.
"To date, the work on one well has been completed with a flow rate of about 90 barrels per day from platform #409 and two more will be completed by December 2017,” the source said. “The platform #412 is expected to be reconstructed till late 2017. As a result, electric submersible pumps will be installed in four additional wells in January 2018."
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.
An 80-percent stake in Azerbaijan’s Bahar Energy Ltd Operating Company is owned by the US Greenfields Petroleum Corporation and a 20-percent stake – by SOCAR.