Azerbaijan, Baku, May 23 /Trend E.Ismayilov/
The work which is part of the three-dimensional geophysical studies at the Umid field and prospective structure Babak in the Azerbaijani sector of Caspian Sea is complete, a source at oil and gas market told Trend.
"Work at the contract areas has been completed and the data received is good," the source said. The work on the contract area has been carried out from the Gilavar geophysical vessel.
Umid is located in 75 kilometres from Baku and 40 miles from the coast. Geophysical work was held for the first time in 1953then re-implemented in 1972. Then nine wells were drilled from 1977 to 1992, neither of which produced results.
The structure at 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.