US Greenfield Inks Socar Workover Deal
Texas-based Greenfields Petroleum has signed a memorandum of understanding (MoU) with Azerbaijan’s state-run Socar to conduct drilling operations in the offshore Bahar Gas Field, the company announced December 4.
Bahar Energy Operating Company (BEOC), a wholly owned subsidiary of Greenfields, executed a MoU the week before with Socar complex drilling works trust (SDT) to formalise a partnership.
By 1988, twelve wells had been drilled into the reservoir and they had produced a total of 3.2bn m3 of gas and average aggregate production of 340,000 m3/d before being abandoned. None of these wells is available today so BEOC is developing a partnership with SDT to drill new ones, aiming to produce the remaining 5.66bn m3 of gas.
Pursuant to the MOU, BEOC and SDT will be jointly inspecting the refurbished offshore BH 196 platform to ensure that drilling operations can be carried out to international standards. SDT will prepare the design and drilling plan for the deep wells and the parties will select drilling locations for deep wells of up to 18,000 feet of true vertical depth.
The parties expect to propose final plans early in 2018 to support the development drilling in Bahar later in the year, said Greenfields CEO John Harkins: “This is an excellent opportunity for co-operation with SDT to drill new gas wells from the deeper reservoirs in the Bahar gas field and re-establish significant gas production for Azerbaijan."