Second exploratory drilling at the Umid Field in the Azerbaijani sector of the Caspian Sea will cost over $81.3 million, News Azerbaijan reports.
Drilling will be held by SOCAR itself at a depth of 6,500 meters. About 3,100 have been drilled.
Umid holds over 200 billion cubic meters of gas reserves and 40 million tons of condensate.
The field is located 40 km from the coast and 75 km from Baku.
SOCAR head Rovnag Abdullayev has not ruled out an increase of the evaluation of reserves after the second drilling.
