Asset Report

Umid-Babek

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19 July 2018

Umid-Babek

Report summary

In 2017, Azerbaijan approved the country's first Risk Service Agreement (RSA) for the offshore Umid-Babek project. Under the contract, the project is operated via Umid Babek E&P, which is currently owned by SOCAR and Nobel Oil.Umid is a multi-tcf gas field that lies in shallow water, 45 kilometres west of the giant Shah Deniz field. Initial production began in 2012, with current output of around 40 mmcfd of gas and 1,400 b/d of condensate.SOCAR is targeting expansion from a new ...

Table of contents

  • Key facts
    • Summary
    • Key issues
  • Location maps
    • SOCAR-Umid JV (2008-17)
    • Risk Service Agreement (RSA, 2017 onwards)
    • Umid
      • Structure
      • Reservoirs
    • Babek
  • Well data
    • Umid
      • Initial exploration (pre-2000)
      • Umid discovery and appraisal
    • Babek prospect
    • Umid
    • Babek
    • Umid initial operations (2012-present)
      • Gas
      • Condensate
    • Potential Umid expansion (Umid-2 platform)
    • Key development metrics
    • Overview
    • Potential Umid expansion
    • Conceptual Babek development
    • Gas
      • Domestic deliveries
      • Export potential
    • Condensate
    • E&A costs
    • Capital costs
      • Umid-1 platform (commercial)
      • Umid-2 platform (sub-commercial)
    • Operating costs
      • Field costs
      • Abandonment costs
    • Transportation costs
      • Gas
      • Condensate
    • Risk Service Agreement (RSA)
      • Cost recovery
      • Profit sharing
      • Tax and depreciation
    • Cash flow
    • Discount rate and date
    • Inflation rate
    • Oil price
    • Gas price
    • Global Economic Model (GEM) file
    • Indicative technical valuations

Tables and charts

This report includes 26 images and tables including:

  • 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 01/01/2018
  • Remaining Revenue Distribution (Discounted at 10% from 01/01/2018)
  • Remaining PV Price Sensitivities
  • Participation: Table 1
  • Geology: Table 1
  • Geology: Table 2
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2
  • Production: Table 1
  • Production: Table 2
  • Umid production profile
  • Infrastructure: Table 1
  • Economic analysis: Table 4
  • Costs: Table 1
  • Costs: Table 2
  • Costs: Table 3
  • Fiscal and regulatory: Table 1

What's included

This report contains:

  • Document

    Umid-Babek

    PDF 5.69 MB

  • Document

    Umid-Babek

    XLS 747.50 KB

  • Document

    Umid-Babek

    ZIP 6.31 MB

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