Proposals for SOCAR’s projects on Caspian Sea to be considered in early 2015
Baku, Azerbaijan, Dec.8
By Emil Ismayilov - Trend:
It is planned to consider all proposals that will be presented by large multinational companies within the framework of the plans of SOCAR (State Oil Company of Azerbaijan) on the joint development of Umid gas condensate field and Babak perspective structure in the Azerbaijani sector of the Caspian Sea as part of a single block in March 2015, the head of SOCAR Rovnag Abdullayev told reporters Dec.8.
"Companies prepare their proposals within the framework of the announced request (of SOCAR), and we will consider them in March 2015," said Abdullayev.
SOCAR announced the discovery of the Umid field in 2010. The volume of the field reserves hit over 200 billion cubic meters of gas and 40 million metric tons of condensate according to the results of drilling of the first exploration well, SOCAR specialists said. More than 390 million cubic meters of gas and 65 million metric tons of condensate were produced on Umid gas and condensate field, which was opened by SOCAR (State Oil Company of Azerbaijan).
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.
The reserves of Babak perspective structure may amount to 400 billion cubic meters of gas and 80 million metric tons of condensate, according to preliminary data.
Emil Ismayilov is Trend Agency's staff journalist, follow him on Twitter: @Emilsmail