Azerbaijan, Baku, April 18 /Trend, E. Ismayilov/
The State Oil Company of Azerbaijan (SOCAR) does not doubt the existence of gas reserves at perspective Babek field in the Azerbaijani sector of the Caspian as the field's structure is similar to that of field Umid where large gas resource was discovered earlier, Khoshbakht Yusifzadeh, SOCAR First Vice-President on geology, geophysics and field development, reported in Baku on Monday.
He said SOCAR estimates reserves of perspective Babek field at 400 billion cubic meters of gas and 80 million tons of condensate. The exact reserves will be identified following the results of exploration drilling works.
The SOCAR earlier estimated Babek reserves at 300 billion cubic meters of gas and 45 million tons of condensate.
Revision of the field's estimated reserves came from the discovery of new gas condensate field - Umid - of which reserves are preliminarily estimated at 200 billion cubic meters of gas and 40 million tons of condensate. The discovery of a new field raised the promising nature of the area covering fields Babek, Nakhchivan, Zafar and Mashal.
The field Umid is located 75 kilometers of Baku, 40 kilometers of the shoreline. Geophysical works at the field's site were initially carried out in 1953, and, in a bit enhanced form, were repeated in 1972. Later on, nine wells were drilled here in 1977-1992 but none of them was productive.
