Block Energy plc has signed a memorandum of understanding (MoU) with Baker Hughes to support its oil and gas drilling operations in Georgia.
SIGNIFICANT
The company said that the MoU provided a broader partnership on developing significant oil and gas opportunities throughout Block’s portfolio.
Baker Hughes has allocated additional engineers to assess and potentially develop geothermal, carbon capture, and hydrogen applications across the Samgori, Patardzeuli and West Rustavi fields.
INITIAL DRILL
“The MoU envisages multiple service awards for advanced oil and gas technology across a production-led, multi-well drilling programme,” said Block Energy in a statement.
“The initial project will drill a horizontal well targeting a recoverable volume estimated to be 2.1 MMboe at the WR-BA well target location in West Rustavi.
“Baker Hughes will also provide a range of efficient well intervention and production-enhancement services to boost current production rates and drive efficiency.
“This will be achieved through the application of enhanced mechanical and chemical technologies to the company’s planned well interventions, including the intervention of the WR-16aZ well.”
POTENTIAL
Block Energy plc’s chief executive Paul Haywood added that the first well would be drilled using the company’s newly acquired 3-D seismic and the directional drilling services and well assurance provided by Baker Hughes.
“The added technical and operational expertise, never before used in Georgia, provides a step-change in our technical capability and will better enable the team to unlock the significant potential across our asset base.
“Overall, Baker Hughes’s commitment to leading the energy transition and its deep breadth of technical, operational and digital capabilities are expected to help us better plan and execute energy projects.”
Baker Hughes has extensive experience operating in the Caspian region and using advanced energy technology to help companies execute projects more efficiently and sustainably.