Baku, Azerbaijan, July 13
By Leman Zeynalova - Trend:
Daily production of hydrocarbons at the Azerbaijani oil and gas block Bahar-Gum Deniz in the Caspian Sea in the second quarter of 2018 stood at on average 718 barrels of oil and on average 3,513 barrels of oil equivalent (boe) of gas, the US Greenfields Petroleum Corporation told Trend.
For comparison, on average 837 barrels of oil and 2,883 boe of gas per day was produced at the block in the first quarter of 2018.
Averagely, a total of 777 barrels of oil and 3,200 boe of gas were produced at the block in the first half of 2018, according to the company’s data.
The Bahar Gas Field is located in shallow water 40 km southeast of Baku, offshore in the South Caspian Basin. The field was discovered in 1968 and production began in 1969.
The Gum Deniz Oil Field is located south of the Absheron peninsula, 21 km south of Baku, between Gum Island and the Bahar Gas Field.
Greenfields Petroleum Corporation is a junior oil and natural gas company focused on the development and production of proven oil and gas reserves principally in Azerbaijan. Through its wholly owned subsidiary Bahar Energy Limited (BEL), the corporation owns an 80 percent interest in the Exploration, Rehabilitation, Development and Production Sharing Agreement (the “ERDPSA”) with the State Oil Company of Azerbaijan ("SOCAR") and its affiliate SOCAR Oil Affiliate (“SOA”) in respect of the offshore block known as Bahar Gum Deniz (the “Bahar Project”) which includes the Bahar Gas Field and the Gum Deniz Oil Field.
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