Azernews.Az

Nazrin Abdul

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Azerbaijan is taking concrete steps to advance the redevelopment project of the Bahar and Gum-Deniz oil and gas fields under the Initial Development Plan.

As reported by Azernews, citing Bahar Energy Operating Company Limited (BEOC), the project is being implemented in line with SOCAR’s corporate strategy pursued in recent years, which focuses on reassessing the potential and operational efficiency of existing oil and gas fields.

Within this framework, a contract has been signed between BEOC and SLB for the redevelopment of the Bahar and Gum-Deniz fields under the Initial Development Plan. By January 2026, the parties plan to prepare static and dynamic models for the Bahar field, as well as a comprehensive field development plan that includes drilling and well-completion programs. The work will also involve identifying optimal areas for field development.

In addition, the agreement covers the selection of initial development wells, the preparation of conceptual engineering designs for drilling and well completion, and the finalization of the scope of work, timelines, and budget for the project’s "define" and "execute" phases.

As part of the project, modern infrastructure compliant with advanced technological standards will be established, new production and exploration wells will be drilled, and production and transportation systems will be modernized. These measures are expected to enable the first oil production by late 2027 or early 2028.

It is worth noting that changes have been made to the ownership structure of the Bahar and Gum-Deniz fields. As of August 15, 2025, SOCAR acquired 100 percent of the shares in Bahar Energy Operating Company Ltd (BEOC). Consequently, the project is now managed by SOCAR under a Production Sharing Agreement (PSA).

SOCAR has also developed a strategic roadmap for the partial transfer of shares (60–70 per cent) in the Bahar field and is continuing efforts to attract investors in the first quarter of 2026.