Gas production from the Umid field in the Azerbaijani sector of the Caspian Sea in 2020 will exceed 960 mcm, SOCAR’s representative Ibrahim Ahmedov said.
“In 2019, over 850 mcm of gas and about 140 thousand tons of condensate were produced from the Umid field. In 2020, we plan to extract 143 thousand tons of condensate and more than 960 mcm of gas from this field,” Ahmedov said.
Thus, in 2020, gas production from the Umid field will increase by 12.9%, and condensate production – by 2.1%.
The Umid field was put into operation in September 2012.
Currently, production at the field is carried out from three wells (No. 10, No. 14 and No. 16), the last of which was commissioned in April 2019.
About 3 mcm of gas and 500 tons of condensate are produced daily from the field.
The Risk Service Contract for the exploration and development of the Umid-Babek block was signed on January 12, 2017 between SOCAR and SOCAR Umid Oil and Gas Limited and entered into force in May 2017. The contract also includes the “Agreement on exploration and development of the Umid-Babek block in the Azerbaijani sector of the Caspian Sea”, signed between SOCAR Umid Oil and Gas Limited and Umid, Babek Exploration & Production.
The prospective Umid-Babek block is located in the deepwater part of the Azerbaijani sector of the Caspian Sea, 75 km from Baku. The reserves of the Umid field, developed by SOCAR, are estimated at 200 bcm of gas and 30 million tons of condensate. The reserves of the Babek structure are estimated at 400 bcm of gas and 80 million tons of condensate.
The long-term block development program involves the production of 4.2 bcm of gas per year from the Umid field.