The operating company Umid-Babek (UBOC) has commissioned a new production well No.16 at the Umid field in the Azerbaijani sector of the Caspian Sea.
The depth of the well exceeded 6.8 thousand meters.
“The drilling of a new production well at the Umid field has been completed and it has already been commissioned. Drilling contractor was SOCAR-AQS LLC. The flow rate of the well is estimated at 2.5 million cubic meters of gas and 400 tons of condensate per day”, the information says.
SOCAR President Rovnag Abdullayev says that the potential annual gas production from this well is estimated at almost 900 million cubic meters.
Before this well was commissioned, gas production was carried out from two producing wells (No.10 and No.14) in the volume of 1.25 million cubic meters of gas and 200 tons of condensate per day.
In May 2017, a contract between SOCAR and SOCAR Umid Oil and Gas Limited entered into force. It was signed on January 12, 2017 for the exploration and development of the Umid-Babek block. 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 Umid-Babek block is located 75 kilometers from Baku, in the deep-water part of the Azerbaijani sector of the Caspian Sea. The reserves of the Umid field developed by SOCAR are estimated to be at least 200 billion cubic meters of gas and 30 million tons of condensate. The reserves of the Babak structure are estimated at 400 billion cubic meters of gas and 80 million tons of condensate.
The long-term program involves the extraction of 5 billion cubic meters of gas per year from the Umid field. Now gas production is carried out from three wells of the field.