Report summaryThe mature Gum Deniz oil field and Bahar gas-condensate field are located offshore, in shallow water south of Baku. Since October 2010, the two fields have been operated under a rehabilitation PSC signed between Bahar Energy (UAE) and SOCAR. Bahar Energy is currently owned by Baghlan Group (UAE, 66.67%) and Greenfields Petroleum (USA, 33.33%), although the former has been in financial distress since 2014. Both fields are highly depleted, with current production far below historical peaks. ...
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