The Babek prospective structure in the Caspian Sea is 75 km south of Baku. The depth of the sea is in the range of 60 to 700 m. It has a complex tectonic structure. Geologically, the Babek structure, part of the Umid-Babek tectonic block, is divided into two different anticlines by a mud volcano and is a continuation of the Umid gas condensate field.
The Babek structure was discovered in 1959 by the reflected wave method of seismic exploration, and its geological structure was clarified.
In 2012, three-dimensional (3D) seismic surveys were conducted in the Babek structure, and its geological configuration was clarified. There are gas-condensate deposits in the productive layers, and the first exploration well is planned to be drilled in Q1 of 2023 using the self-propelled floating drilling rig. The appraisal well, which will have a planned depth of 6,750 m, is planned to be drilled into Fasila Formation offshore with a 62 m sea depth.
Since 2017, exploration work in the Babek structure has been entrusted to UBOC LLC (Umid-Babek Operating Company). Thus, on 12 January 2017, a risk service agreement on the exploration and development of the offshore block, which includes the Umid field and the Babek prospective structure, as well as an agreement on oil and gas operations between SOCAR Umid Oil and Gas Ltd and Umid, Babek Exploration & Production (UBEP) were signed by and between SOCAR and SOCAR Umid Oil & Gas Ltd. According to these documents, UBOC Operating Company was established to ensure operations by UBEP, and the duties were transferred to the Azerbaijani branch of UBOC.