Canadian company perforates unexploited production zone in Azerbaijan offshore field

Canadian company perforates unexploited production zone in Azerbaijan offshore field

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Canadian oil and gas production company Zenith Energy Ltd on Friday said it has successfully perforated a new, unexploited production zone at Jafarli field.

Report informs, the company has said.

Zenith said it went ahead with perforation after examining well data at the C-21 well at Jafarli, in Azerbaijan.

The use of new technology allowed the identification of a total of 7.1 metres unexploited payzone. The first time such techniques were used in its Azerbaijani operations. The well is now giving 15 barrels of oil per day, having previously not been productive.

Engineers of the company said, have now identified additional zones at the well presenting strong prospects for further oil production.

Notably, on March 16, 2016, SOCAR and Zenith Aran Oil Company Ltd signed an agreement on exploration, development and distribution of production (PSA) from the block, which includes the Muradkhanli, Jafarli and Zardab fields. The agreement was ratified by Milli Majlis (Azerbaijani Parliament) on June 14, and the field development began on August 11, 2016.

The share of Zenith is 80%, SOCAR – 20%. The agreement is signed for a period of 25 years with the possibility of an extension for another 5 years. The total area of the fields is 642.4 square km.

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