Baku, Azerbaijan, March 11
By Aygun Badalova -Trend:
Gross production at Gum Deniz and Bahar fields in Azerbaijan increased to approximately 8,798 barrel of oil equivalent per day (boe/d) in February, Greenfields Petroleum Corporation (Greenfields) reported. An increase in gross field production last month was a result of continuing drilling and workover operations in the two fields.
In January of this year Bahar Energy Operating Company reached the key Target Production Rate 1 ("TPR1") for 90 consecutive days average production milestone of 6,944 boe/d.
Greenfields is a junior oil and natural gas corporation focused on the development and production of proven oil and gas reserves principally in Azerbaijan.
Greenfields is a co-owner of Bahar Energy Operating Company, which is the operator of the of the Bahar project within a PSA agreement signed for the exploration, rehabilitation, development and production (ERDPSA) at the Bahar and Gum Deniz fields. ERDPSA was signed by the State Oil Company of Azerbaijan (SOCAR) and Bahar Energy in 2009.
Over the past nine months, eight recompletions have been performed in the Bahar gas field, which have increased production more than threefold from 11 millions of cubic feet per day (mmcf/d) to more than 38 mmcf/d, and more than 200 bbl/d of condensate, according to the report.
More than 50 additional recompletions are planned in the Bahar gas field over the next three years.
