SOCAR negotiates with the Russian “Lukoil” and French “Total” for the exploitation of “Umid-Babek” fields block, said head of Investment of SOCAR Vagif Aliyev, ONA reports.
According to him, other companies are also interested in these oil fields.
Furthermore, V.Aliyev stated that the construction of the second platform at the “Umid” field is also planned. All the works are being done according to the planned time schedule. The construction of the new platform will be done regardless the involvement of the new partners.
It should be noted that the highest debit well of SOCAR was drilled and put into operation at the “Umid” field, with annual output of up to 900 million cubic meters of natural gas.