BAKU, Azerbaijan, Jan. 27
By Anastasia Savchenko - Trend:
Gas production at Azerbaijan's Bahar gas condensate field is expected to reach 210 million cubic meters in 2020, Trend reports with reference to the report of country's Chamber of Accounts on the budget of the State Oil Fund of the Republic of Azerbaijan (SOFAZ).
According to the report, this forecast indicator is 16 million cubic meters less compared to the last year.
Production is expected to be in the amount of 0.284 million barrels of oil at the Gum Deniz oil field, which is 14,000 barrels more than the forecast for 2019, the report says.
In 2018, 192 million cubic meters of gas were extracted at the Bahar field, and 300,000 barrels of oil were extracted from the Gum Deniz field.
The contract for exploration, rehabilitation, development and production at the Bahar and Gum Deniz block of offshore fields was signed by Azerbaijan's State Oil Company SOCAR (20 percent share) and Bahar Energy (80 percent share) in 2009.
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.
Greenfields Petroleum Corporation of the US owns 100 percent of the shares of the Bahar Energy Limited operating company.
The Gum Deniz oil field is located south of the Absheron Peninsula, 21 kilometers south of Baku, between Gum Island and the Bahar gas field.
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