The State Oil Company of the Azerbaijani Republic (SOCAR) will conclude construction of the underwater section of the gas pipeline from the Umid Field this summer, SOCAR Vice President for geology, geophysics and development of fields Khoshbakht Yusifzade said, Trend reports.
Drilling of the second borehole will start in the near future, followed by drilling of the third one. Oil extraction will total about 1 million cubic meters daily.
Discovery of the Umid Field was announced in 2010. SOCAR specialists say that it holds over 200 billion cubic meters of gas and 40 million tons of condensate. Umid is located 75 km away from Baku, 40 km away from the shore. First geophysical activities were held in 1953. They continued in 1972. Nine boreholes were drilled in 1977-1992. None of them gave positive results.
