▁sharing ▁agreement ▁ ▁On ▁December ▁ 2 2 , ▁ 2 0 0 9 , ▁the ▁State ▁O il ▁Company ▁of ▁A zer ba ij an ▁Republic ▁and ▁the ▁Em ir ati ▁company ▁Bah ar ▁Energy ▁Ltd ▁signed ▁a ▁production ▁sharing ▁agreement ▁for ▁expl oration , ▁re h abil itation ▁and ▁development ▁of ▁Bah ar ▁and ▁G um ▁Den iz ▁fields . ▁The ▁agreement , ▁which ▁was ▁reached ▁by ▁the ▁President ▁of ▁SO C AR , ▁R ov n ag ▁Abd ull ay ev ▁and ▁General ▁Director ▁of ▁Bah ar ▁Energy ▁Ltd , ▁Richard ▁Mc D oug all , ▁is ▁project ed ▁to ▁last ▁ 2 5 ▁years ▁with ▁the ▁possibility ▁of ▁extension ▁for ▁five ▁additional ▁years . ▁ ▁This ▁was ▁the ▁ 2 8 th ▁agreement ▁SO C AR ▁signed ▁with ▁a ▁foreign ▁invest or ▁on ▁the ▁basis ▁of ▁production ▁sharing . ▁R ov n ag ▁Abd ull ay ev ▁stated ▁that ▁SO C AR ▁is ▁planning ▁to ▁increase ▁the ▁overall ▁gas ▁production ▁of ▁A zer ba ij an ▁to ▁ 1 ▁tr ill ion ▁cm . ▁ ▁According ▁to ▁the ▁agreement , ▁within ▁the ▁next ▁ 3 ▁years , ▁Bah ar ▁Energy ▁Ltd ▁will ▁dr ill ▁one ▁expl oration ▁well . ▁The ▁first ▁stage ▁of ▁the ▁project ▁includes ▁dr illing ▁of ▁ 5 0 ▁well s . ▁In ▁addition ▁to ▁that , ▁all ▁existing ▁well s ▁will ▁be ▁re h abil itated ▁for ▁production . ▁It ▁is ▁estimated ▁that ▁the ▁first ▁stage ▁of ▁the ▁project ▁will ▁bring ▁nearly ▁$ 2 .