GL International LTD, a subsidiary of GL Group, is a 100% interest owner in the Risk Service Agreement related to the Rehabilitation and Development of the Block including the Buzovna-Mashtaga, Gala, and Zira Oil Fields in the Republic of Azerbaijan (the “RSA”), and in Taghiyev Operating Company, the operating company for these onshore oil fields.
Located in Absheron Peninsula, the Zira field was discovered in 1956 through well #7, considered at the time to be the deepest well in Europe’s Industrial production at the Buzovna-Mashtaga field began in 1941. Industrially significant oil was obtained from the Gala field in 1932.
