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First batch of Chinese oil output materials delivered to Azerbaijan

Oil&Gas Materials 4 January 2018 10:23 (UTC +04:00)

Baku, Azerbaijan, Jan.4

By Leman Zeynalova – Trend:

The first consignment of Chinese oil production materials have been delivered to field operations in Azerbaijan, said Canada’s Zenith Energy company, which is the operator of Azerbaijan’s largest onshore block of oil fields Muradkhanli-Jafarli-Zardab.

The materials were delivered via 23 trucks, according to the company.

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 five additional years.

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Follow the author on Twitter: @Lyaman_Zeyn

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