Azerbaijan’s state-owned Socar has launched atender for the joint exploration of two large gasfields in the Caspian Sea with total reserves ofaround 600 Bcm (21.18 Tcf), say reports.The tender is for the Umid and Babek gas fields,Socar’s first vice president Khoshbakht Yusifzadetold reporters.Socar said in 2010 it had found at least 200 Bcm(7.06 Tcf) of gas at the Umid field in the CaspianSea, describing it as the largest discovery sincethe giant Shah Deniz field that was operated by aconsortium of companies led by BP and was estimatedto contain 1.2 Tcm (42.36 Tcf) of gas.
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