Asset Report
Umid-Babek
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
SOCAR leads the development of the large offshore Umid gas field, in partnership with Nobel Oil (Nobel Upstream). The shallow-water project is operated under a Risk Service Agreement (RSA) that was awarded in 2017. The contract area also includes the giant Babek exploration prospect.Umid has been producing since 2012. Output from the Umid-1 platform has increased rapidly since 2022 thanks to new drilling and a larger-capacity pipeline to shore. Investment in a second platform, Umid-2, is ...
Table of contents
- Key facts
-
Summary and key issues
- Summary
- Key issues
- Location maps
-
Participation
- SOCAR-Umid JV (2008-17)
-
Risk Service Agreement (RSA, 2017 onwards)
- Overview
- Nobel Oil (Nobel Upstream) participation
- Talks with potential partners
-
Geology
-
Umid
- Structure
- Reservoirs
- Babek
-
Umid
- Well data
-
Exploration
-
Umid
- Initial exploration (pre-2010)
- Umid discovery and appraisal (2010 onwards)
- Babek prospect
-
Umid
-
Reserves and resources
-
Umid
- Reported data
- Modelling
- Babek (prospective resources)
-
Umid
-
Production
- Umid
-
Development
-
Umid
- Key development metrics
- Further Umid phases
- Key dates
-
Babek
- Conceptual development
-
Umid
-
Infrastructure
-
Pipelines to shore
- Initial tie-ins via Bulla Deniz (2012 onwards)
- Dedicated pipeline to shore (2022 onwards)
- Dashgil-2 terminal (2025 onwards)
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Routes to market
- Gas
- Condensate
-
Pipelines to shore
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Costs
- E&A costs
- Capital costs
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Operating costs
- Field costs
- Abandonment fund payments
- Transportation costs
- 4 more item(s)...
Tables and charts
This report includes the following images and tables:
- Key facts: Table 1
- Index map
- Umid-Babek map
- Well data: Table 1
- Cash flow
- Economic analysis: Table 2
- Economic analysis: Table 3
- Split of Revenues
- Cumulative Net Cash Flow - Undiscounted
- Cumulative Net Cash Flow - Discounted at 10% from 01/01/2025
- Remaining Revenue Distribution (Discounted at 10% from 01/01/2025)
- Remaining PV Price Sensitivities
- 14 more item(s)...
What's included
This report contains:
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