OVL currently has assets in 14 countries including
OVL is bidding to buy Caspian Energy Group"s 51-per cent stake in Shivran Oil Operating Company that operates that Kyurovdag oil field in
If its bid, code-named golden goose, succeeds, the acquisition of Caspian"s stake will mark OVL"s entry into the energy-rich Central Asian country
The Kyurovdag onshore oil field was discovered and first developed by the then
The field currently produces 4,517 barrels of oil per day, is expected to produce a minimum of 146 million barrels between 2007 and 2030, 51 per cent of which go to OVL in the event of its being succcessful.
The production is projected to rise to 13,300 barrels per day in 2010 and thereafter start declining to reach 2,200 barrels per day in 2030. The field is well past its historical peak of 43,000 barrels per day of 1965.
PIN/DOMAIN-B.COM
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