Baku, Azerbaijan, Sept. 28
By Maksim Tsurkov - Trend:
Bahar Energy Ltd. plans to receive two drilling rigs for the operations at the oil and gas block, which includes Bahar and Gum Deniz fields in the Azerbaijani sector of the Caspian Sea until 2017, John Harkins, the president of the US Greenfields Petroleum company, told Trend Sept. 28.
Greenfields Petroleum owns 33.33 percent equity share in Bahar Energy Ltd.
He said that the company has already started the relevant tender process.
"We expect for receiving two drilling rigs at an interval of three to four months," he said. "This will significantly increase the production at the field. This is included in our plans for 2016. The tender process is already underway. We will begin to consider the proposals soon."
Earlier, SOCAR signed a PSA contract with Bahar Energy Limited for the exploration, rehabilitation and development of the Bahar and Gum Deniz offshore fields in the Azerbaijan sector of the Caspian Sea. The second part of the contract involves the exploration of the Bahar-2 structure. According to the preliminary calculations, Bahar Energy Limited's investment volume will amount to $1 billion.
Bahar has been developed since 1969. It is located 40 kilometers southeast of Baku.
Edited by CN
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