Bank Of Baku

Azerbaijan to launch drilling work at Umid deposit this year

Azerbaijan to launch drilling work at Umid deposit this year
# 23 February 2009 15:28 (UTC +04:00)
Baku. Rashad Suleymanov - APA-Economics. The State Oil Company of Azerbaijan (SOCAR) intends to launch drilling activities at the Umid deposit in the national sector of the Caspian Sea. Rovnag Abdullayev, the President of SOCAR, said Umid was believed to hold 200 billion cubic meters of gas.
He also added that SOCAR and AIOC are negotiating on the gas recovery in lower layers of Azeri-Chirag-Guneshli.
According to him, SOCAR will soon sign a contract with France’s Total on the Absheron block.
Drilling activities at Umid are scheduled for commencement in April 2009. 6 gas wells at 6 400 meters will be drilled.
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