Baku, Azerbaijan, April 16
By Leman Zeynalova – Trend:
Geological study has been commissioned at Azerbaijan’s onshore Muradkhanli-Jafarli-Zardab oil fields, Trend learned from Canada’s Zenith Energy, which is the operator of the block of fields.
The Company can confirm that it has commissioned a geological study in view of its plans to begin development drilling activities in 2018.
“The ongoing study, through the structural re-interpretation of the various seismic acquisitions and well data from numerous wells drilled in the field area, has already enabled the identification of a new previously unexplored Mesozoic carbonate prospect. The study is also expected to assist in the Company's field rehabilitation activities by providing a modern revaluation of the Eocene age reservoir levels comprised of sandstones, marly limestones and volcanic facies,” said the company.
The revised interpretations will enable Zenith to optimize the selection of new drilling locations and the areas where it will be directing its workover efforts, according to the company.
Azerbaijan’s state oil company SOCAR and Zenith Aran Oil Company signed a Rehabilitation, Exploration, Development and Production Sharing Agreement (REDPSA) in March 2016 for a block that includes the Muradkhanli, Jafarli and Zardab oilfields. These fields cover an area of 642.2 square kilometers. Production under the agreement began in August of 2016.
Zenith holds a 80-percent participating interest in the three fields within the contract area, while SOCAR retains the remaining 20 percent. The duration of the agreement is 25 years, with a potential extension of five additional years.
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