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Large gas field discovered in Azerbaijan

Large gas field discovered in Azerbaijan

24 November 2010 15:24 (UTC +04:00)

Umid field, owning 200 bcm gas reserves, is the second largest gas field in independence history of the country.

According to R. Abdullayev, the project depth of the field is 6 500 meters. Exploration works are being conducted by SOCAR. According to the current prices at the market, the total amount of reserves makes $30-40 bln.

Note that, the leadership of the country was expected the results of exploration works impatiently. Even, President Ilham Aliyev noted that he expected good news from Umid field: â€œName of Umid field requests this in itself. Initial news is hopeful. We impatiently expect to great results from Umid field. This will increase the gas potential of Azerbaijanâ€.

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