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US company evaluating exploration potential of Bahar 2 in Azerbaijan

Oil&Gas Materials 9 February 2018 12:11 (UTC +04:00)
The US Greenfields Petroleum Corporation is still evaluating the exploration potential of Bahar 2 structure offshore Azerbaijan.

Baku, Azerbaijan, Feb.9

By Leman Zeynalova – Trend:

The US Greenfields Petroleum Corporation is still evaluating the exploration potential of Bahar 2 structure offshore Azerbaijan, a source in the company told Trend.

“We are still evaluating the exploration potential of Bahar 2. To date no gas discoveries have been made,” said the source.

Greenfields Petroleum expects that modern 3D seismic will be required before exploration drilling, according to the company representative.

“The 3D seismic may be scheduled for acquisition in 2019 together with other operators mobilizing seismic equipment to Azerbaijan,” added the source.

In November 2017, Bahar Energy Operating Company Limited (BEOC), a wholly owned subsidiary of Greenfields, executed an exclusive memorandum of understanding with SOCAR Complex Drilling Works Trust, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), to formalize a partnership for the drilling of deep gas wells in the Bahar gas field offshore Azerbaijan.

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.

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