Block Energy Plc, a development and production company focused on the country of Georgia, has signed a memorandum of understanding (MoU) with Baker Hughes on June 14. The MoU envisages multiple service awards for advanced oil and gas technology across a production-led, multiwell drilling program. The initial project will drill a horizontal well targeting a recoverable volume estimated to be 2.1 million barrels of oil equivalent (MMboe) at the WR-BA well target location in West Rustavi.
Block Energy's collaboration with Baker Hughes will support current and future development across its portfolio. Services provided by Baker Hughes include drilling fluids, cementing, drill bits, directional drilling, with the advanced technologies of rotary steerable systems, and a premium logging-while-drilling service.
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.
The initial project, Block's first new horizontal well at the WR-BA location, includes advanced rotary steerable technology that will greatly improve drilling efficiency, safety and well placement accuracy. Logging-while-drilling measurements will also be acquired to aid reservoir characterization and production optimization.
Furthermore, Baker Hughes will assist Block Energy in the evaluation of its portfolio of conventional oil and gas assets and green energy opportunities. Initial focus will be on production enhancement of the company's mature assets and developing the geothermal production potential across the Samgori, Patardzeuli and West Rustavi fields.
"Baker Hughes has extensive experience operating in the Caspian region and deploying advanced energy technology to help customers execute projects more efficiently and sustainably. We look forward to collaborating with Block Energy to support its goal to improve oil and gas production while accelerating our joint commitment to explore new energy frontiers like geothermal energy, accelerating the energy transition and path to net-zero emissions,” Tommy Kassem, Baker Hughes's vice president of oilfield services for Russia Caspian, said.
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