Date announced for completing studies on Azerbaijan’s two major offshore structures

Oil&Gas Materials 28 March 2012 10:52 (UTC +04:00)

Azerbaijan, Baku, March 28 / Trend, E.Ismayilov /

Caspian Geophysical company will complete three-dimensional geophysical studies on the Umid field and Babak perspective structure in the Azerbaijani sector of the Caspian Sea until April 20, a source in oil and gas market told Trend on Wednesday.

"The work is underway in accordance with schedule and it will be completed until April 20," the source said.

The work on the contract area is carried out from Gilavar geophysical vessel.

Umid is located in 75 kilometers of Baku, 40 miles from the coast. Geophysical work was for the first time held here in 1953. The work here was re-implemented in 1972. Then nine wells were drilled from 1977 to 1992, neither of which produced results.

The perspective structure Babek is located not far from the Umid field. SOCAR has repeatedly stated that it was going to carry out work on the structure independently.

Estimated reserves of the Babak structure stand at 400 billion cubic meters of gas and 80 million tons of condensate.