...

Azerbaijan’s forecast for oil production from Bahar field in 2022 revealed

Oil&Gas Materials 6 December 2021 14:04 (UTC +04:00)
Azerbaijan’s forecast for oil production from Bahar field in 2022 revealed

BAKU, Azerbaijan, Dec. 6

By Khagan Isayev – Trend:

Oil production from the Bahar field in Azerbaijan is expected to reach 238,000 barrels in 2022, Trend reports referring to the conclusion of the Accounts Chamber on the draft budget of the State Oil Fund of Azerbaijan (SOFAZ) for 2022.

According to the forecast, oil production from the Bahar field at the end of 2021 will amount to 185,000 barrels.

It is noted that a total of 180,000 barrels of oil were produced from the Bahar field in 2020.

The contract for exploration, restoration, development, and production at the block of Bahar and Gum Deniz offshore fields was signed by SOCAR and Bahar Energy in 2009.

The Bahar field has been developed since 1969 and is located 40 kilometers southeast of Baku.

Greenfields Petroleum Corporation, which specializes in the development and production of oil and gas mainly in Azerbaijan, through its subsidiary Bahar Energy Limited (BEL) owns an 80 percent share in the exploration, rehabilitation, development, and production sharing agreement with the State Oil Company of Azerbaijan (SOCAR) and its branch SOCAR Oil Affiliate in the Bahar-Gum-Deniz block.

Tags:
Latest

Latest