Work is continuing on one of the most complex high-pressure wells in SOCAR’s history at the Umid gas field in the Caspian Sea, Elkhan Bashirov, Director General of Umid-Babek Operating Company (UBOC), said during the session titled “Gas Markets: Infrastructure, Strategy and Geopolitics” at the Baku Energy Forum, APA-Economics reports.
According to him, Umid is one of Azerbaijan’s strategic gas fields. Gas and condensate produced from the field are mainly directed toward meeting domestic demand.
Bashirov noted that UBOC is currently operating with a reliability rate exceeding 97%.
“We are currently working on a complex high-pressure well on the southern flank of the Umid field, unlike any previously drilled in the Caspian basin. It is one of the most complex wells in SOCAR’s history. We have completed the main section of the well ahead of schedule and below budget,” he said.
According to the UBOC chief, improving operational efficiency is the key to enhancing the Caspian region’s competitiveness in global energy markets.
“The Caspian basin is rich in resources. However, to compete with major energy regions such as the Middle East, maximum efficiency in project implementation must be ensured,” Bashirov added.