BAKU, Azerbaijan, November 24. The Umid gas and condensate field offshore Azerbaijan has achieved significant production milestones, yielding approximately 8.2 billion cubic meters of gas and 1.260 million tons of condensate since its commencement in 2012 until the end of October 2023, Trend reports citing the country's energy ministry.
The daily average output from the field is noteworthy, with 6.7 million cubic meters of gas and over 800 tons of condensate. The Umid field's substantial reserves are estimated at 200 billion cubic meters of gas and 40 million tons of condensate.
Situated in the Caspian Sea, 75 kilometers south of Baku, the Umid field spans an area of 45 square kilometers, with the sea depth in the field's territory ranging from 40 to 60 meters.
Umid field was discovered on November 24, 2010. Notably, the potential of Umid as a promising structure had been identified in 1953 during exploration work conducted by Azerbaijani geologists.
In 2008, SOCAR and Nobel Oil Exploration & Production Ltd created SOCAR-Umid LLC, to carry out drilling on the prospective Umid structure in the Azerbaijani sector of the Caspian Sea. SOCAR owns an 80-percent share and the Nobel Oil company has 20-percent share in the joint venture.
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