Azerbaijan, Baku, Oct. 18 / Trend , E.Ismayilov /
The cost of the second exploration well on the Umid field in the Azerbaijani sector of the Caspian Sea, which is being drilled by the State Oil Company of the Azerbaijan Republic (SOCAR) , is 64 million manat, the company reported today.
The depth is now at 3,100 meters from the designed depth at 6,500 meters.
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.