SOCAR renews drilling at Umid deposit

​SOCAR plans to renew drilling works at the Umid deposit within a few days, the first Vice-President of SOCAR for development of deposits, Kh. Yusifadze, said.

“We plan to start drilling an inclined hole at the Umid deposit from the existing platform to assess the reserves at the site where the well is located. If the results of the drilling are successful, it will be decided to place a new extraction platform there”, he said.

According to Mr. Yusifadze, the drilling of a new well will be held simultaneously with the tender on the selection of a foreign partner for exploration and development of the Umid-Babek block.

“The funds we will invest into our operations at the Umid deposit will be taken into account when signing the agreement with a new partner”, he said.