SOCAR to consider proposals on Umid field, Babek structure in 2015
By Aynur Jafarova
Azerbaijan’s state energy company SOCAR plans to consider all proposals that will be presented by large multinational companies on the joint development of Umid gas condensate field and Babek perspective structure in the Azerbaijani sector of the Caspian Sea in March 2015.
“Companies have prepared their proposals and we will consider
them in March 2015,” SOCAR Head Rovnag Abdullayev told journalists
on December 8.
SOCAR announced the discovery of the Umid field in 2010. The
results of drilling of the first exploration well showed that the
reserves of the field hit over 200 billion cubic meters of gas and
40 million metric tons of condensate.
The daily debit of two wells in the Umid field ranges from
1.1-1.5 million cubic meters of gas.
The Umid field is located 75 kilometers from Baku, 40 kilometers
away from the coast. The first geophysical work was carried out
there in 1953.
Operations were also conducted in 1972 using modern methods. Nine
wells were drilled there from 1977 to 1992, without any
results.
According to preliminary data, the reserves of Babek perspective
structure may amount to 400 billion cubic meters of gas and 80
million metric tons of condensate.
Azerbaijan’s energy giant SOCAR, which is keen on expanding operations in the retail oil products market abroad, is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in the domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan.