Today.Az » Business » SOCAR unveils figures of second well on Umid field
08 June 2012 [18:37] - Today.Az
The State Oil Company of Azerbaijan (SOCAR) has mastered a second well on the field Umid in the Azerbaijani sector of Caspian Sea, said in a statement released by SOCAR on Friday.
According to the report, daily production rate of the well is 1.2 million cubic meters of gas and 150 tons of condensate.
"The data on this well are prove again the existence of large reserves of hydrocarbons in the field Umid," the statement said.
SOCAR will complete the laying of an underwater pipeline to transport natural gas ashore from the field Umid by the end of August, the first vice-president of SOCAR on geology, geophysics and mining Khoshbakht Yusifzade said previously.
The field's discovery was announced in 2010.
According to SOCAR, the results of drilling of the first exploratory well suggest that the reserve's volume exceeds 200 billion cubic meters of gas and 40 million tons of condensate.
The Umid Field is located 75 kilometres 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 with negative results.
/Trend/
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