Umid Babek Operating Company

A Branch of UMID BABEK OPERATING COMPANY in the Azerbaijan Republic is a company owned by Umid Babek Operating Company. The company carries out activities related to exploration, development, and production. According to the Decree 2024 of the President of the Republic of Azerbaijan On the Exploration and Development of the Offshore Block of the Umid Field and the Babek Perspective Structure in the Azerbaijani Sector of the Caspian Sea, a Risk Service agreement has been signed between the State Oil Company of the Azerbaijan Republic (SOCAR) and SOCAR Umid Oil and Gas limited (SOCAR-Umid). In addition to Agreement, Socar-Umid Oil and Gas Limited and Umid Babek Exploration and Production (Contractor) have signed a contract for oil and gas operations effective May 2, 2017. The branch office of the Umid Babek Operating Company was established in order to carry out oil and gas operations originating from the Agreement and Contract, was registered on 23 October 2017 in the Ministry of Ta...