Azerbaijan, Baku, Aug.11 / Trend, E. Ismayilov /
The final decision to hold 3D geophysical studies on the Umid gas-condensate field and Babak promising structure in the Azerbaijani sector of the Caspian Sea from "Gilavar" geophysical vessel will be taken after completing two other projects, a source in oil and gas market said on Thursday.
The source said it is planned to conduct studies from the vessel on promising "Shafag-Asiman" block, as well as 4D seismic operations in the "East Azeri" field included in "Azeri-Chirag-Guneshli" oil and gas fields' block.
"After completing operations the final results on proposals will be summoned up and decisions will be taken to conduct studies on Umid and Babak, which are scheduled to start in December 2011," the source said.
Studies on the above-mentioned promising structures and fields will be carried out by Caspian Geophysical.
According to SOCAR's specialists, there are over 200 billion cubic meters of gas and 40 million tons of condensate at Umid field.
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.
The Babak perspective structure is located near the Umid field. SOCAR has repeatedly stated that it intends to carry out work on this structure independently.
SOCAR estimates reserves of perspective Babek field at 400 billion cubic meters of gas and 80 million tons of condensate. However, the exact volume of reserves will be determined after exploratory drilling.