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SOCAR to develop exploitation program of Umid field and Babek perspective structure

15 September 2014 10:43 (UTC +04:00)

Baku. Aynur Aliyeva – APA-Economics. State Oil Company of Azerbaijan intends to cooperate with partner companies for jointly exploitation of Umid field and Babek perspective structure, SOCAR President Rovnag Abdullayev told journalists.

According to him, Babek and Umid are great fields and it was decided to work with big companies as it’s required technological exploitation, underwater exploitation as well as large amount of investment.

“A number of big companies intend to join exploitation of Babek field. We are expecting bids from 12 companies. We’ll fulfill a exploitation program with the company making best proposal”, Abdullayev said.

He added that it’s needed very complicated underwater exploitation technologies for fulfillment of this program: “However, we have not these technologies. We’ll pass decision how we will do that depending on the bid”.