BAKU, Azerbaijan, Jan. 28
By Anastasia Savchenko – Trend:
The volume of oil production at Azerbaijan’s "Muradkhanli, Jafarli and Zardab" onshore block of oil fields is forecasted to be 110,000 barrels, which is 9,000 barrels less than the forecast of 2019, Trend reports referring to the country’s State Oil Fund (SOFAZ).
In 2018, the volume of oil production at the block amounted to 100,000 barrels, SOFAZ said.
Azerbaijan’s State Oil Company SOCAR and Zenith Aran Oil Company signed a REDPSA (Rehabilitation, Exploration, Development and Production Sharing Agreement) in March 2016 for the "Muradkhanli, Jafarli and Zardab" block. Zenith Energy Ltd established its subsidiary company Zenith Aran Oil Company Ltd for production operations in these three fields. Production under the agreement began in August 2016.
The total area of the block is 642.2 square kilometers; according to the contract, it is divided into rehabilitation and exploration territories.
The block is located in the Yevlakh-Agjabadi oil and gas region of Imishli district of Azerbaijan. The Muradkhanli field was discovered in 1971, Jafarli - in 1984, and Zardab - in 1981.
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