Azerbaijan, Baku, Oct. 1 / Trend, E. Ismayilov /
Caspian Geophysical Company plans to hold three-dimensional geophysical research on Umid gas-condensate field and Babak perspective structure in the Azerbaijani sector of the Caspian Sea, a source in the oil and gas industry told Trend on Saturday.
"The operations on the Umid and Babak fields may be launched in early January next year," a source said.
The research operations will be conducted from the geophysical vessel "Gilavar".
According to SOCAR's specialists, there are over 200 billion cubic meters of gas and 40 million tons of condensate at Umid field.
The Umid Field is located 75 kilometers from Baku. In 1953 the first geophysical works were carried out at the field. They were repeated in 1972 in a somewhat improved form. From 1977 to 1992, nine wells were drilled without result.
Babak perspective structure is located near "Umid" field. SOCAR has repeatedly stated that it is going to carry out the work on the structure.
SOCAR first vice-president on geology, geophysics and mining Khoshbakht Yusifzade earlier said that estimated reserves of the Babak structure hit 400 billion cubic meters of gas and 80 million tons of condensate.
