BAKU, Azerbaijan, June 6. GL Group adheres to four basic principles of work in Azerbaijan, a member of the Advisory Board at GL Group, Gilbert Beuhler, said during the "Exploration and Production Opportunities in the Caspian Region" panel at the 29th Baku Energy Forum, Trend reports.
"GL Group adheres to four fundamental principles in its operations in Azerbaijan. Our primary focus is on gaining a deep understanding of each area we work in. This includes enhancing our knowledge of the data, the subsurface, and the interrelationships between wells and installations. This is our top priority and the foundation of our development and optimization plans. We are leveraging the right technology for these tasks," he emphasized.
The advisory board member added that their digital database encompasses all fields in Azerbaijan, integrating seismic, logging, production, wells, and their histories. While other companies have undertaken similar efforts, the scale at which GL Group applies these technologies is unique to these fields.
"It is crucial to note that this approach serves as the engine driving all our capabilities, particularly in cost management. In Azerbaijan, there are fields where production per well can reach hundreds or even thousands of barrels per day. However, our average is five to ten barrels per day per well, which necessitates a deep understanding of cost management: identifying water sources, determining if extraction is needed, finding ways to dispose of it, and optimizing well length," he explained.
Gilbert highlighted that factors such as the mean time between failures and cost optimization per well are key.
"Lastly, our final principle is focus. Managing both large and small fields simultaneously while exploring and optimizing mature fields is a challenge. We address this by concentrating on one area at a time. This is our core business, and it drives our efforts. We turn this focus into a capability, a process, and a way of thinking. It's something we can scale, and it propels us forward. Currently, we face numerous challenges across five fields. I've mentioned some of the ideas and opportunities we see, and we intend to scale them. We are optimistic about the future, remaining within our niche. While many companies operate in different niches, our future is truly exciting," he added.
The Baku Energy Forum is supported by the Ministry of Energy of Azerbaijan, with the State Oil Company of Azerbaijan Republic (SOCAR) as the main partner. For the first time, the forum is being held with the support of OPEC.
More than 600 delegates are participating in the forum. In addition to Azerbaijan, representatives from Australia, Austria, Belarus, Belgium, Bulgaria, the UK, Hungary, Georgia, Israel, India, Italy, Kazakhstan, Qatar, China, Latvia, Monaco, the Netherlands, Norway, the UAE, Russia, Romania, Saudi Arabia, Slovenia, the US, Uzbekistan, Ukraine, Finland, France, the Czech Republic, Switzerland, Sweden, and Japan will also be present. This year, the forum has a record number of speakers - 81.
The forum's agenda includes critical energy issues for both Azerbaijan and the entire Caspian region. Key points on the agenda focus on reviewing and financing projects related to energy security, the energy transition, and green energy.
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