Abstract
Geological mining data resulted from exploration-prospecting and testing operations at Umid gas condensate field as one of important projects of the State Oil Company of the Azerbaijan Republic (SOCAR) have been systemized and analyzed in the article. There conducted uncertainty analyses of the obtained geophysical and mining data and hydrocarbon reserves on horizons have been estimated. Impact of uncertainties to hydrocarbon reserves of the field have been studied through modern approaches and geological risks have been assessed by usage of new risk matrix. Also, strategy of actions has been proposed in order to mitigate geological risks.
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