SOCAR announced discovery of a huge gas field in Azerbaijan (UPDATE-2)
Azerbaijan, Baku, Nov. 24 / Trend E. Ismayilov /
Editor's Note: the information on the reserves and operations was added
SOCAR has announced the discovery of a huge gas field Umid in the Azerbaijani section of the Caspian Sea, SOCAR president Rovnag Abdullayev said.
According to Abdullayev, Umid is the second largest gas field after Shah Deniz, discovered during the independence of Azerbaijan.
The hydrocarbon reserves are estimated at least 200 billion cubic meters of gas and 30 million tons of gas condensate as a result of drilling the first exploration well. It led to the discovery of a gas and condensate field Umid, Abdullayev said.
He said that there may be more hydrocarbon reserves in this field. It will be determined as a result of drilling the second exploration well.
Abdullayev also said that SOCAR has already begun the work on a program of large-scale development of the field.
The exploration drilling at the deposit from a stationary platform reduced the cost of the work twice compared to drilling from floating rigs, SOCAR head said.
This was also reflected in the term of the operations. The drilling from a floating drilling rig and construction in the stationary platform would take 7 years. But the drilling directly from the platform took over two years.
Abdullayev also stressed the geological complexity of the field.
The project depth of an exploration well in the Umid offshore perspective field is 6,500 meters. The exploration drilling was carried out at SOCAR's own expense.
Exploratory drilling was carried out on the field in 1980-1990s. Roughly 9 wells were drilled here by floating drilling rigs.
SOCAR drilled a new exploration well on the Umid-1 platform.