BP: Azerbaijan's gas production amounts to 14.8 bcm in 2011
Gas production in Azerbaijan amounted to 14.8 billion cubic metres in 2011, which is 1.8 percent less than in 2010, BP Statistical Review of World Energy 2012 reads. Azerbaijan's share in global oil production amounted to 0.5 percent in 2011. According to BP, as of Jan.1, 2012, the volume of proved gas reserves in Azerbaijan amounted to 1.3 trillion cubic metres, which is unchanged from BP's last year estimates.
BP: Azerbaijan's oil production amounts to 931,000 bpd in 2011
Oil production in Azerbaijan amounted to 931,000 barrels per day in 2011, BP Statistical Review of World Energy 2012 says. This figure is 10.3 percent less than production in 2010. Azerbaijan's share in global oil production was 1.1 percent in 2011. BP remained stable its estimation on the country's proved oil reserves - at 7 billion barrels, which amounts 0.4 percent share in global proved oil reserves. The main volume of Azerbaijan's oil production accounts for the Azeri-Chirag-Guneshli fields.
SOCAR expresses attitude toward research in disputed Caspian fields
Azerbaijan has repeatedly said it is ready to develop border fields in the Caspian together with Turkmenistan, SOCAR Vice President for Economic Affairs Suleyman Gasimov said. He said the operations were not held so far due to the unresolved status of the Caspian Sea. He also expressed regret over the fact that Turkmenistan has started research in the Kapaz field located at the intersection of the Azerbaijani and Turkmen sectors in the Caspian Sea. Baku perceived this as a violation of boundaries. In this regard Azerbaijan expressed its protest to Turkmenistan and stressed that Turkmenistan's illegal activity is unacceptable. The Azerbaijani side reserves the right to conduct appropriate activities related to the protection of its sovereign rights in the Caspian Sea.
National Iranian Oil Company ratifies $48 billion annual budget plan
The National Iranian Oil Company's board of directors has ratified the current calendar year's $48-billion budget plan, Fars reported. NIOC Managing Director Ahmad Qalebani said that some $5 billion of the budget will be secured through internal resources and the rest through selling bonds and financing by National Development Fund and Central Bank. Some $22 billion of the budget will be channeled into the South Pars gas field development projects by Pars Oil and Gas Company, he noted.
Prospective resources of Kazakh KazMunaiGas estimated
An audit of the reserves and resources of KazMunaiGas was conducted by independent international auditing company Gaffney, Cline & Associates which carried out an evaluation of prospective resources of the company in Kazakhstan's sector of the Caspian Sea, deputy chairman of the board of KazMunaiGas on geology and promising projects, Kurmangazy Iskaziyev said. "The resource potential of the Kazakh sector of the Caspian Sea, excluding reserves of Kashagan is, according to SPE international standards, 2.288 billion tons," Iskaziyev said, speaking at the second International Oil and Gas Conference 'Caspian shelf development', held in Astana, with the support of KAZENERGY. He recalled that the main goal of KazMunaiGas is capacity building. To achieve this goal, the company is guided by the following principles: aggressive exploration and expansion of the geography of business, effective implementation of projects and the high quality of operational processes. "At present, Kazakhstan, being one of the major oil-producing countries of the Caspian region, is rapidly emerging as one of the largest manufacturers and exporters of oil in the world. Recoverable proven reserves of Kazakhstan are five billion tons of oil and three trillion cubic meters of gas. Its prospective and probable reserves are 17 billion tons, of which the bulk is concentrated in the Caspian basin, including the waters of the North Caspian," Iskaziyev said.
BP: Turkmenistan significantly ups gas production
Proven gas reserves of Turkmenistan in 2011 amounted to 24.3 trillion cubic meters which exceeded estimates for 2010 to the amount of 13.4 trillion cubic meters, BP's World Energy 2012 report says. According to BP, last year Turkmenistan produced 59.5 billion cubic meters of gas which is 40.6 per cent more than the volume of 2010. At the same time, Turkmenistan's share in global gas production was 1.8 per cent last year. Oil production in Turkmenistan amounted to 216,000 barrels per day in 2011, BP's annual review says. At the same time, the share of Turkmenistan in global oil production was 0.3 per cent last year.
New provision on Turkmenneft state concern approved
Turkmen President Gurbanguly Berdimuhamedov has approved the Turkmennebit provision, an official Turkmen source said. The document is aimed at achieving the objectives set for the country's oil and gas industry in the national program of Turkmenistan's socio-economic development for 2011-2030, and further improvement of the state concern's activity.
British Petroleum estimates Uzbekistan's hydrocarbon resources
Uzbekistan's proven oil reserves in 2011 is estimated at 0.1 billion tons (0.6 billion barrels), which corresponds to the figure of 2010, British Petroleum (BP) said in its World Energy 2011 report. The report says that in 2011 in Uzbekistan, oil production amounted to 3.6 million tons (on average 86,000 barrels per day) compared to 3.7 million tons in the previous year (87,000 bpd). According to BP, proven gas reserves in 2011 amounted to 1.6 trillion cubic meters which also corresponds to estimates in 2010. According to BP, last year Uzbekistan reduced natural gas production by 4.4 per cent compared to 2010 to 57 billion cubic meters of gas.