SOCAR re-estimates reserves of prospective gas condensate structure Babak on Caspian Sea

Oil&Gas Materials 19 January 2011 18:30 (UTC +04:00)

Azerbaijan, Baku, Jan. 19 / Trend E. Ismayilov /

According to the new data, SOCAR estimates the reserves of perspective structure "Babak" in the Azerbaijani sector of the Caspian Sea to the amount of 400 billion cubic meters of gas and 80 million tons of condensate, the first vice-president of SOCAR Khoshbakht Yusifzade said in an interview with the newspaper "Respublika".

Earlier, SOCAR specialists estimated the reserves of "Babak" structure to the amount of 300 billion cubic meters of gas and 45 million tons of condensate.

According to the primary data, there are 200 billion cubic meters of gas and 40 million tons of condensate.

The Umid Field is located 75 kilometers from Baku. In 1953, the first geophysical works were carried out at the field. They were repeated in 1972 in a somewhat improved form. From 1977 to 1992, nine wells were drilled without result.