BAKU, Azerbaijan, December 17. The
Comprehensive Drilling Works Trust (CDWT) of the State Oil Company
of the Azerbaijan Republic (SOCAR) and Bahar Energy Operating
Company (BEOC) have signed a Memorandum of Cooperation for the
integration of drilling operations at the Bahar and Gum-Deniz
fields, Trend
reports, citing SOCAR CDWT.
The information notes that the projects to be jointly
implemented with BEOC under this cooperation will make a
significant contribution to achieving the strategic goals of both
organizations.
Meanwhile, SOCAR signed a Production Sharing Agreement (PSA) in
Baku on December 22, 2009, with Bahar Energy Ltd for the
exploration, rehabilitation, development, and production of the
offshore block that includes the Bahar and Gum-Deniz fields in the
Caspian Sea.
The Gum-Deniz field, which has been in operation since 1955, is
located 21 kilometers southeast of Baku, while the Bahar field has
been under development since 1969 and is situated 40 kilometers
southeast of the capital.
