Prospective Azerbaijani gas reserves may amount to at least two
trillion cubic meters, the First Vice-President of SOCAR (the State
Oil Company of the Azerbaijani Republic) Khoshbakht Yusifzade said at
a meeting within a meeting of the Azerbaijani president with the
authorities of the company on the discovery of the Umid gas field,
AzerTag reports.
Yusifzade said that the sea structure Babek in the Azerbaijani sector
of the Caspian has approximately 400-600 billion cubic meters of gas.
Surveys of the Umid field show that Babek’s reserves are double those
of Umid.
He explained that if Babek is located deeper its reserves are twice as
big. If Umid has 200 billion cubic meters of gas, Babek will have 400
billion cubic meters. If Umid has 300 billion cubic meters, Babek will
have 600 billion cubic meters, Yusifzade said.
He said that SOCAR expects Umid to have 200 billion cubic meters of
gas and 30-40 million tons of gas condensate. The first borehole
showed 250 billion cubic meters. The borehole was made at a depth of
170 meters.
The Umid field is located 75 kilometers from Baku, 40 kilometers off
the coast. In 1953 it underwent its first geophysical activities,
which were repeated in 1972 using improved technologies. In 1977 and
1992 nine boreholes were drilled there, none of which produced
results.
