SOCAR reveals planned output volume at Umid field
Baku, Azerbaijan, Oct.21
By Leman Zeynalova – Trend:
It is planned to drill a new well at Azerbaijan’s Umid gas field in coming months, Ibrahim Ahmadov, deputy head of the public relations and events department at Azerbaijan’s state oil company SOCAR, told Trend.
He noted that 2.8 billion cubic meters of natural gas and 443,000 tons of condensate has been produced at the field since the start of development.
“It is planned to produce more than 860 million cubic meters of gas and 134,000 tons of condensate at the field as of 2019,” added Ahmadov.
SOCAR announced the discovery of the Umid field in 2010. Earlier, SOCAR and Nobel Oil Exploration & Production Ltd created SOCAR-Umid LLC, to carry out drilling on the prospective structure "Umid" in the Azerbaijani sector of the Caspian Sea. SOCAR owns an 80-percent share and the Nobel Oil company has 20-percent share in the joint venture.
The volume of the field's reserve exceeds 200 billion cubic meters of gas and 40 million tons of condensate, according to the results of drilling the first exploration well and the estimations of SOCAR specialists.
The Umid field is located 75 kilometers from Baku, 40 kilometers away from the coast. The first geophysical work was carried out there in 1953, the second, improved one in 1972. Nine wells were drilled there from 1977 to 1992. However, none of them produced any results.
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