Baku, Azerbaijan, May 8
By Leman Zeynalova – Trend:
Canada’s Zenith Energy, which is the operator of Muradkhanli-Jafarli-Zardab, the largest onshore block of oil fields in Azerbaijan, has further expanded its geological study to at Zardab field, Trend learned from the company.
“In order to maximize the potential success of the company's ongoing workover efforts, Zenith has further expanded its geological study to concentrate on wells Z-21, Z-28, Z-3, Z-14 and Z-4,” said the company.
The primary objectives of the study are the identification of high-value drilling locations and possible workovers in Zardab, as well as the verification of previously announced discrepancies between historical well data and the actual characteristics and condition of each well today, according to Zenith Energy.
The preliminary findings of the ongoing geological study have encouraged the company to increase the scale of its operations in Zardab.
As announced on April 10, 2018, the company has commissioned an extensive geological and technical study to optimize the selection of potential drilling locations in preparation for its development drilling program in Azerbaijan.
The study initially focused on the Muradkhanli and Jafarli oilfields where the company's production wells are located.
The structural re-interpretation of seismic acquisitions and well data from a number of wells drilled in these two fields has already enabled the identification of a new, previously unexplored, Mesozoic carbonate prospect running across the two fields.
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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