Report summaryThe Umid gas-condensate field is located in the southern Caspian Sea, 40 kilometres offshore in 40-120 metres of water. It was discovered in November 2010 by the landmark Umid-8 well, drilled by SOCAR-Umid, a JV of SOCAR and Nobel Oil. SOCAR has been looking for another international partner since 2014. In May 2016, it announced that any contract would be a Risk Service Agreement (RSA) instead of a PSC.The first appraisal well following discovery was completed in 2012. Production began from ...
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