Bank Of Baku

SOCAR plans to begin exploration in Babak and Absheron fields

SOCAR plans to begin exploration in Babak and Absheron fields
# 14 November 2009 12:08 (UTC +04:00)
Baku. Rashad Suleymanov - APA. State Oil Company of Azerbaijan (SOCAR) plans to begin exploration in Babak and Absheron promising deposits in the Azerbaijani sector of the Caspian Sea, said Khoshbakht Yusifzadeh, vice-president of SOCAR.

According to him, Umid, Babak on Absheron deposits are believed to hold huge oil resources in reserve.
SOCAR through its intelligence capabilities bore hole in the structure Umid. It is assumed that at there is a large amount of gas reserves. An exploration well has been drilled on Umid.
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THE OPERATION IS BEING PERFORMED