(MENAFN - Trend News Agency) Baku, Azerbaijan, June 16
By Sara Israfilbayova - Trend:
There are plans to produce about 1 billion cubic meters of natural gas from Umid field in Azerbaijan this year, a source in Azerbaijan's state oil company SOCAR said,Trendreports.
Three wells operate on the Umid-1 production platform with a total daily flow rate of 2,7 million cubic meters of gas and 430 tons of gas condensate per day.
According to SOCAR, the last well commissioned from the platform not so long ago, allowed to confirm Umid's reserves of 200 billion cubic meters of gas and completely unveiled horizon 7, which corresponds to the "Fasila" suite. Previously, this was impossible due to the difficult geological conditions of the work in the lower horizons.
Umid is included in the Umid-Babek block of deposits, which is developed by SOCAR and its minority partner Nobel Upstream. SOCAR has a long-term development program for the Umid-Babek block, thanks to which it will be able to receive annually up to five billion cubic meters of gas from the Umid field only.
The Caspian Oil and Gas conference was held in Azerbaijan from May 29 to June 1. Top-level leaders attended the conference to discuss key oil and gas projects in the Caspian region and energy security.
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