Baku: SOCAR and SLB have formalized a partnership agreement aimed at accelerating the redevelopment of the ‘Bahar’ and ‘Gum-Deniz’ oil fields located in the Caspian Sea, as reported by SOCAR to APA-Economics.
According to Azeri-Press News Agency, the collaboration will focus on identifying promising production zones, developing comprehensive reservoir modeling, and designing well and rig programs. These efforts are intended to support an Early Production Scheme (EPS) for the fields, aligning with SOCAR’s long-term strategy to increase oil production and extend the operational life of mature offshore assets.
The project is expected to enhance operational efficiency and sustainability while developing practical scenarios to accelerate production. Babek Huseynov, SOCAR’s Vice President for the Development and Production Operations segment, highlighted the successful cooperation between the two entities during the signing ceremony. He affirmed that the initiative is a crucial step in optimizing production at mature fields through advanced methods, and expressed confidence that it will establish the technical foundation for future redevelopment phases of the ‘Bahar’ and ‘Gum-Deniz’ fields.