Baku, Azerbaijan, May 11
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 conducted geological study at two wells, a source in Azerbaijan’s oil and gas market told Trend.
The company's geological study has examined wells Z-4 and Z-14.
“There is no confirmed date regarding when Z-4 was spud. Records indicate that it was drilled to a total depth of 4,715 meters and tested at a rate of 250 barrels of fluid per day in 1981, 70 percent of which was assessed to be oil. Z-14 was spud in November 1988 and drilled to a total depth of 4,610 meters. There is no record that the well was ever tested,” said the source.
The company's field personnel have recently located and dugout the Z-14 wellhead- which was previously buried- with the objective of creating an entry point into the well.
“The study of Z-4 and Z-14 well data has led to the identification of numerous oil and gas shows which are currently being further investigated,” said the source.
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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