Baku, Azerbaijan, July 13
By Leman Zeynalova – Trend:
The new plan for development of Azerbaijan’s Bahar-Gum Deniz oil and gas block is near completion, the US Greenfields Petroleum Corporation, which fully owns Bahar Energy Operating Company Limited (BEOC), told Trend.
“We are currently completing the new plan of development. It is being reviewed by Canadian-based GLJ Petroleum Consultants, our third party reserves auditor,” said the company.
As for the time of submitting the plan, Greenfields Petroleum Corporation said it is expected to be submitted in the fourth quarter of 2018.
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.
The 100 percent shares of the operating company Bahar Energy Limited belongs to the US Greenfields Petroleum.
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