Zenith Energy, the dual listed international oil & gas production company operating the largest onshore oilfield in Azerbaijan, has begun a comprehensive reservoir engineering study to achieve the optimisation of production from active and shut-in production wells across the Muradkhanli, Jafarli and Zardab oilfields in Azerbaijan.
The findings of the reservoir study will complement the two comprehensive geological studies previously completed by the Company, announced on August 13, 2018, whose scope was focused on the selection of infill drilling locations across its field area in preparation for the beginning of drilling activities in Azerbaijan.
The primary goal of the reservoir study will be the achievement of a material improvement in Zenith's understanding of its reservoir base in order to perform well interventions, including sidetracks and perforations, that might unlock significant reserves in historically highly productive wells. The study will also result in the creation of a fully digitalised database that will incorporate all existing printed reservoir data.
Update on Well C-37 Operations
Zenith can confirm that the preparatory work required prior to the beginning of drilling activities, announced on October 15, 2018, is ongoing and that the electrical submersible pump has been pulled out of the hole. The Company's operational team has begun running in the hole with a scraper to the production casing shoe at a depth of 3,904 metres. A series of well investigations by wireline will follow the completion of this work, as well as the performance of civil works including the construction of a drilling pad.
The Company will provide an update once the aforementioned preparatory work is concluded and a 180-ton rig, contracted from a local service company, is mobilised to the well location to commence drilling operations.
Andrea Cattaneo, Chief Executive Officer, commented: 'I am satisfied with the significant progress we are making in a number of areas. Zenith's recent appointments reflect an intention to maximise our geological, reservoir engineering and technical understanding in order to achieve concrete operational success. I look forward to reporting on our progress in due course as we enter an exciting phase of highly prospective drilling activities.'