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Friday, 19 May 2017 12:45

Canadian company gets COO at Muradkhanli, Jafarli and Zardab

Michael Palmer has been appointed to the position of Chief Operating Officer of Zenith's operations in Azerbaijan, Caspian Energy News ( reports with reference to the company.

Zenith Energy Ltd is an operator of Azerbaijani fields Muradkhanli, Jafarli and Zardab.

It is stated that Mr. Palmer has 37 years of experience in the oil industry as head of production operations, exploration and field development in Azerbaijan, Kazakhstan, Russia, Ukraine, Syria, Indonesia, Gabon, Guinea, and the US.

It bears reminding that Azerbaijan’s state oil company SOCAR and Zenith Aran Oil Company signed a Rehabilitation, Exploration, Development and Production Sharing Agreement (REDPSA) in March 2016 for a block that includes the Muradkhanli, Jafarli and Zardab oilfields. These fields cover an area of 642.2 square kilometers. Production under the Zenith banner began August 11, 2016.

According to the agreement, Zenith holds an 80 percent participating interest in the three fields within the contract area – Muradkhanli, Jafarli and Zardab – while a SOCAR Oil affiliate company (fully owned by SOCAR) retains the remaining 20 percent. The duration of the agreement is 25 years, with a potential extension of 5 additional year.

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Person in charge of the newsline:  Sabina Mammadova

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