From the moment of commissioning until the end of October this year, about 8.2 bcm of gas were produced at the “Umid” gas condensate field located in the Azerbaijani sector of the Caspian Sea.
According to the Ministry of Energy of Azerbaijan, 1.26 million tons of condensate were also extracted from the field.
Daily production volumes at the field currently average 6.7 mcm of gas and more than 800 tons of condensate. Gas reserves are estimated at 200 bcm, and condensate reserves are estimated at 40 million tons.
The State Oil Company of Azerbaijan (SOCAR) announced the discovery of the “Umid” field on November 24, 2010. The development of the field began at the end of September 2012. SOCAR could not develop the field independently. Currently, it is being developed by the “Umid Babek” Operating Company (UBOC), where the partner is the British offshore company Nobel Oil.