Baku, Azerbaijan, June 6
By Maksim Tsurkov - Trend:
Daily production of hydrocarbons at the Azerbaijani oil and gas block Bahar-Gum Deniz in the Caspian Sea in the first quarter of 2018 averaged 838 barrels of oil and 489,850 cubic meters of gas, a source in the Azerbaijani oil and gas market told Trend on June 6.
The source said that oil production fell by 3 percent and gas production by 20 percent compared to the first quarter of 2017.
"Meanwhile, the average daily oil production increased by almost a third compared to the fourth quarter of 2017. This is a good progress, which was achieved through the work on re-completion and repair of wells. Improving the productivity of repairs and services allowed to restore and stabilize production," the source said.
Particularly, the source noted that the increase in oil production in the first quarter of 2018 was achieved through successful overhaul of the GD-456 well.
Overhaul of two wells was completed at the Bahar gas field, while work is still underway on another well, according to the source.
"The decline in gas production this quarter is due to a drop in the B-171 well (about 51,000 cubic meters per day) due to a problem with the tubing. The overhaul carried out at B-171 allowed to raise production to 74,000 cubic meters per day by the end of the first quarter of 2018 (44 percent more than at the end of 2017). Production at the B-177 well was suspended in anticipation of further evaluation of options for casing repair, " the source said.
A contract for exploration, rehabilitation, development and production at Bahar and Gum Deniz was signed by Azerbaijan’s state oil company SOCAR (20 percent) and Bahar Energy (80 percent) in 2009. The Bahar field, developed since 1969, is located 40 kilometers southeast of Baku.
The 100 percent shares of the operating company Bahar Energy Limited belongs to the Greenfields Petroleum.
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