Baku, Azerbaijan, May 1
By Leman Zeynalova – Trend:
Bahar Energy company will submit to Azerbaijan’s state oil company SOCAR a new plan of development of Azerbaijan’s Bahar-Gum Deniz block of oil and gas fields in the Caspian Sea in mid-2018, a source in Azerbaijan’s oil and gas market told Trend.
A new plan of development will be submitted to SOCAR subsequent to the completion of the studies in mid-2018, said the source.
Earlier, it was expected to be submitted in the beginning of 2018.
«Dynamic reservoir model simulation studies (the “Studies”) continued for both the Bahar Gas Field and Gum Deniz. Activity through 2017 focused on geophysical mapping of the Gum Deniz 3D dataset, the completion of static geological models for all layers in Bahar Gas Field and Gum Deniz; and the completion of dynamic history matched models for Gum Deniz. These studies will continue through 2018 in order to enable a more thorough evaluation of development options in the Bahar Gas Field and Gum Deniz, » noted the source.
The contract for exploration, rehabilitation, development and production at Bahar and Gum Deniz block of offshore fields was signed by Azerbaijan’s state oil company SOCAR (20 percent) and Bahar Energy (80 percent) in 2009. Bahar field, developed since 1969, is located in 40 kilometers south-east from Baku.
---
Follow the author on Twitter: @Lyaman_Zeyn