BAKU, Azerbaijan, June 20. The Bahar-Gum Deniz block has produced 0.18 million barrels of oil in 2022 versus the forecasted 0.27 million barrels, Trend reports.
The Chamber of Accounts reveals that the production plan for the block has been fulfilled by 67 percent.
The revenues of the State Oil Fund of Azerbaijan (SOFAZ) from oil sales from Bahar-Gum Deniz block stood at $0.76 million.
Greenfields Petroleum Corporation, through its wholly owned subsidiary Bahar Energy Limited (BEL), owns an 80 percent interest in the Exploration, Rehabilitation, Development and Production Sharing Agreement with SOCAR and its affiliate SOCAR Oil Affiliate in respect of the offshore block known as Bahar-Gum Deniz (the Bahar Project), which consist of a Contract Rehabilitation Area including the Bahar Gas Field and the Gum Deniz Oil Field and an Exploration Area.
The Bahar Project is located south of the Absheron Peninsula and a few kilometers to the east of Baku. It comprises producing oil and gas fields lying offshore Azerbaijan in the shallow waters (up to 10 meters deep) of the Caspian Sea.
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