Bahar Energy Operating Company (BEOC)

The Bahar Project is operated by BEOC, a wholly owned subsidiary of BEL, under the terms of a Joint Operating Agreement (“JOA”).  BEOC is also the designated agent on behalf of the Contractor Parties for the marketing and collection of proceeds from oil and gas sales under the terms of a Joint Lifting Agreement (“JLA”) between BEOC, SOCAR, the State Oil Fund of Azerbaijan (‘SOFAZ”) and the Contractor Parties.

BEOC is headquartered in the Gum Island, a sand island lying approximately 2.5 kilometres offshore and connected to the mainland by a stone and paved causeway.  The Gum Island houses the main operating offices, warehousing, equipment storage and a marine base for offshore operations.  The main fluid and gas handling facilities including oil and gas storage, separation, compression and metering stations are all located onshore and are therefore not subject to the offshore operating environment.

BEOC currently employs over 800 people to carry out petroleum operations in the Bahar Project.

BEOC Management

John Harkins President

Ahmadiyya Musayev Chief Legal and Corporate Affairs Officer

Rasul Gafarov Chief Financial Officer and Treasurer