Umid gas field
Encyclopedia
Umid gas field is the second largest natural gas
field in Azerbaijan
. It is situated in the South Caspian Sea
, off the coast of Azerbaijan, approximately 75 kilometres (46.6 mi) southeast of Baku
, at a depth of 170 metres (557.7 ft). In translation from Azerbaijani
, Umid means Hope.
In 2009, SOCAR financed the exploration works at Umid itself. This is the first time since the Contract of the Century that Azerbaijan conducted exploration works entirely on its own. The discovery of 200 bcm and 30-40 million tons of condensate (around 270-360mn bbl) initially forecasted by Khoshbakht Yusifzadeh
was announced by SOCAR on November 24, 2010 after successful drilling at 6500 metres (21,325.5 ft) on exploration platform Umid-1.
According to experts, production at Umid field will most likely start in 3-4 years.
.
Natural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
field in Azerbaijan
Azerbaijan
Azerbaijan , officially the Republic of Azerbaijan is the largest country in the Caucasus region of Eurasia. Located at the crossroads of Western Asia and Eastern Europe, it is bounded by the Caspian Sea to the east, Russia to the north, Georgia to the northwest, Armenia to the west, and Iran to...
. It is situated in the South Caspian Sea
Caspian Sea
The Caspian Sea is the largest enclosed body of water on Earth by area, variously classed as the world's largest lake or a full-fledged sea. The sea has a surface area of and a volume of...
, off the coast of Azerbaijan, approximately 75 kilometres (46.6 mi) southeast of Baku
Baku
Baku , sometimes spelled as Baki or Bakou, is the capital and largest city of Azerbaijan, as well as the largest city on the Caspian Sea and of the Caucasus region. It is located on the southern shore of the Absheron Peninsula, which projects into the Caspian Sea. The city consists of two principal...
, at a depth of 170 metres (557.7 ft). In translation from Azerbaijani
Azerbaijani language
Azerbaijani or Azeri or Torki is a language belonging to the Turkic language family, spoken in southwestern Asia by the Azerbaijani people, primarily in Azerbaijan and northwestern Iran...
, Umid means Hope.
History
Umid field is a part of a block previously consisting of Umid and Babek fields. The geophysical works at Umid started in 1953 which were repeated in 1972. A total of 9 wells were drilled in the area from 1977 to 1992, however no commercially viable fields were discovered at the time.In 2009, SOCAR financed the exploration works at Umid itself. This is the first time since the Contract of the Century that Azerbaijan conducted exploration works entirely on its own. The discovery of 200 bcm and 30-40 million tons of condensate (around 270-360mn bbl) initially forecasted by Khoshbakht Yusifzadeh
Khoshbakht Yusifzadeh
Khoshbakht Yusifzadeh Baghi oglu is an Azerbaijani academician and the First Vice-President of the State Oil Company of Azerbaijan Republic...
was announced by SOCAR on November 24, 2010 after successful drilling at 6500 metres (21,325.5 ft) on exploration platform Umid-1.
According to experts, production at Umid field will most likely start in 3-4 years.
Ownership
The gas field currently belongs to SOCAR. The company invested approximately $5 billion in development works at Umid and is likely to earn nearly $45-50 billion.Reserves
SOCAR leadership estimates that with further drilling, the overall reserves at Umid are likely to reach 300 bcm while those of Babek field lying under Umid will reach 600 bcm. Drilling at Babek will also be done by SOCAR. The Azerbaijan's total gas reserves are estimated at 3 to 5 trillion cubic meters (tcm). The discovery will boost Azerbaijan's potential as gas exporter to Western countries through Nabucco pipelineNabucco Pipeline
The Nabucco pipeline is a proposed natural gas pipeline from Erzurum in Turkey to Baumgarten an der March in Austria diversifying natural gas suppliers and delivery routes for Europe. The pipeline attempts to lessen European dependence on Russian energy...
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See also
- Azeri-Chirag-GuneshliAzeri-Chirag-GuneshliAzeri–Chirag–Guneshli is a large complex of oil fields in the Caspian Sea, about off the coast of Azerbaijan. An overall estimated area of the field is . It is operated by a BP-led consortium. The ACG fields have estimated recoverable reserves of about of petroleum...
- Shah Deniz gas fieldShah Deniz gas fieldShah Deniz gas field is the largest natural gas field in Azerbaijan. It is situated in the South Caspian Sea, off the coast of Azerbaijan, approximately southeast of Baku, at a depth of . The field covers approximately . The Shah Deniz gas and condensate field was discovered in 1999...
- Shafag-AsimanShafag-AsimanShafag-Asiman is a large complex of offshore geological structures in the Caspian Sea located southeast of Baku, Azerbaijan. The Shafag and Asiman structures have been previously called D8 and D10, respectively.-History:...
- Nakhichevan fieldNakhichevan fieldNakhichevan field is an offshore oil and gas field the Caspian Sea, Azerbaijan. It is located south of Baku, at a depth of .Nakhichevan deposit was discovered in 1960. It was prepared for drilling in 1994...