Baku, Azerbaijan, Aug.14
By Leman Zeynalova - Trend:
Canada’s Zenith Energy company, operator for development of Azerbaijan’s Muradkhanli-Jafarli-Zardab block of oil fields, has started drilling operations at C-37 well of Jafarli field, Trend reports citing the company.
“Zenith Energy Ltd., the international oil and gas production company operating the largest onshore oilfield in Azerbaijan, is pleased to announce that drilling operations at well C-37 of the Jafarli oil field have commenced,” said the company.
The company will provide further updates as appropriate in accordance with operational progress.
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 oil fields. Zenith Energy Ltd established its subsidiary company Zenith Aran Oil Company Ltd for production operations in these three fields. Production under the agreement began in August 2016.
Zenith holds an 80-percent participating interest in the three fields within the contract area, while SOCAR retains the remaining 20 percent. The agreement is for 25 years, with a potential extension by five additional years.
The total area of the Muradkhanli, Jafarli and Zardab fields is 642.2 square kilometers, and according to the contract, it is divided into rehabilitation and exploration territories.
The Muradkhanli-Jafarli-Zardab block is located in the Yevlakh-Agjabadi oil and gas region of Imishli district of Azerbaijan. The Muradkhanli field was discovered in 1971, Jafarli - in 1984, and Zardab - in 1981.
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