SOCAR plans to increase gas production from Umid field by 17.4%

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By March 1, 2022, 5.4 bcm of natural gas and 856.1 thousand tons of condensate were produced at the Umid offshore gas condensate field, located 75 km south of Baku, the page  by the State Oil Company of Azerbaijan in the social network.

According to the report, hydrocarbon production at the field began in September 2012. In 2020, the field’s annual gas production exceeded 1 bcm for the first time, amounting to 1.091 bcm. According to the results of 2021, 1.115 bcm of gas were extracted from the bowels of Umid.

According to SOCAR forecasts, it is planned to produce 1.309 billion cubic meters of gas and 194,000 tons of condensate from the Umid field in 2022.

The growth of gas production from the Umid field plays an important role in the gas industry of Azerbaijan, since blue fuel from this field is fully directed to the needs of the domestic market.

Note that the Umid field was discovered in November 2010. This is the first discovered field on SOCAR’s asset. It has reserves of 200 bcm of gas and 40 million tons of condensate. The deposit is very complex in terms of geological structure. Therefore, SOCAR’s initial forecasts – by 2018, to reach the level of production of 3 billion cubic meters of gas per year failed to materialize. Since the end of 2013, SOCAR has been looking for foreign partners to develop Umid, as well as the nearby Babek structure. An international tender was announced. However, after the decline in oil prices in world markets in 2015, these negotiations were practically curtailed.
As a result, in January 2017, SOCAR signed a risk-service contract for the development of the Umid field with Nobel Oil, a private company registered in the British Virgin Islands. 

Caspian Barrel