Asset Report

Umid-Babek

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01 November 2019

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 large gas field that lies in shallow water, 45 kilometres west of the giant Shah Deniz field. Production has ramped up gradually since start-up in 2012. Commissioning of a new well (Umid-16) boosted output in 2019.SOCAR is targeting expansion from a ...

Table of contents

  • Key facts
    • Summary
    • Key issues
  • Location maps
    • SOCAR-Umid JV (2008-17)
    • Risk Service Agreement (RSA, 2017 onwards)
      • Talks with potential partners
    • 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
      • Current sales
      • Future exports via BTC pipeline
    • 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 01/01/2020
  • Remaining Revenue Distribution (Discounted at 10% from 01/01/2020)
  • Remaining PV Price Sensitivities
  • 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
  • Participation: Table 1
  • Costs: Table 1
  • Costs: Table 2
  • Costs: Table 3
  • Fiscal and regulatory: Table 1

What's included

This report contains:

  • Document

    Umid-Babek

    PDF 6.23 MB

  • Document

    Umid-Babek

    XLS 459.00 KB

  • Document

    Umid-Babek

    ZIP 6.17 MB

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