GL Investment, a subsidiary of GL Group, is a 50% interest owner in the Rehabilitation, Exploration, Development, and Production Sharing Agreement for the Kursangi and Garabaghli oilfields (the “PSA”) and Salyan Oil Limited, the operating company for these oilfields.
The Kursangi and Garabaghli oilfields are one of the largest onshore oilfields in Azerbaijan. Located in the Kura Basin, 125km to the southwest of Baku, the fields have been in production since the early 1960s. The contract area for the K&G Fields covers about 450km².
