Baku, Azerbaijan, Oct. 4
By Gulgiz Muradova – Trend:
Zenith Energy Ltd., a Canadian energy company specialized in the oil and gas exploration and production, plans to commence drilling program for its Azerbaijan assets in 2018.
Company CEO Andrea Cattaneo told Trend that currently a workover programme is underway and the work will be summarized by April 2018.
Zenith holds an 80% participating interest in the three oilfields within the REDPSA area (Muradkhanli, Jafarli and Zardab), while a SOCAR Oil affiliate company (fully owned by SOCAR) retains the remaining 20%.
A key element of the company’s ongoing strategy for Azerbaijan is to increase the scale of its activity to deliver near-term incremental increases in daily oil production.
To achieve this goal a workover programme aimed at rehabilitating the first 10 of 65 underperforming production wells at these fields has begun following the signing of the aforementioned workover contract.
The company continues stable production rates of approximately 295bopd across its three producing fields of Muradkhanli, Jafarli and Zardab.
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