Development project of Umid prospective unit is important for Azerbaijan: joint drilling company official

Oil&Gas Materials 4 June 2009 14:19 (UTC +04:00)

Azerbaijan, Baku, June 2 / Trend E. Ismayilov, A. Badalova /

Development of prospective gas condensate structure Umid will be important project for Azerbaijan, Nobel Oil general manager Wayne Waiz said on June 2. The company together with SOCAR (the State Oil Company of Azerbaijan) established joint venture SOCAR-Umid to drill at prospective structure Umid in Azerbaijani sector of the Caspian Sea. SOCAR has 80 percent of share holding in the enterprise, Nobel Oil Exploration and Production Ltd. -20 percent.

"I think that it is very good project. It will be very important for Azerbaijan," Waiz said.

This structure contains significant gas volumes, he said.

Expected gas reserves in prospective structure of Umid hit 300 billion cubic meters. The expected gas condensate reserves constitute 30-40 million tons.

Construction in new platform Umid-1 completed. Drilling plant ZJ70/4500DZ made in China was also installed. The first exploration 6,500 meter well will be drilled via this plant at the structure, Waiz said.

Umid-1 platform was constructed on the basis of unfinished Chirag-6 platform. It is the biggest facility within the program. Its height will hit 72 meters.

Presently, SOCAR is carrying out construction work on Umid-1 platform, where drilling is to be done.

The platform is installed 15km of Bulla Deniz field at the depth of 58 meters. A total of six gas wells are expected to be drilled from the platform.

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