...

Major events in Caspian countries' oil and gas industry for week (May 20-25)

Analysis Materials 27 May 2013 12:15 (UTC +04:00)
Azerbaijan and Turkmenistan have the right to lay the Trans-Caspian pipeline and the U.S. in general, agrees with it, U.S. Ambassador to Azerbaijan Richard Morningstar said in Baku during the conference 'Maritime and Energy Law in Azerbaijan: international and national perspectives'.
Major events in Caspian countries' oil and gas industry for week (May 20-25)

U.S. Ambassador: Azerbaijan and Turkmenistan have right to lay Trans-Caspian pipeline

Azerbaijan and Turkmenistan have the right to lay the Trans-Caspian pipeline and the U.S. in general, agrees with it, U.S. Ambassador to Azerbaijan Richard Morningstar said in Baku during the conference 'Maritime and Energy Law in Azerbaijan: international and national perspectives'.

"The U.S. position is that if the two countries reach an agreement there would be no obstacles to the laying of the pipeline," Morningstar said.

However, each country must determine for itself the political implications of each attempted step in this direction, he said.

The U.S. Ambassador also noted that the pipeline should be safe for the environment.

"Azeri-Chirag-Guneshli" partners stabilize production volumes

The partners of the oil and gas fields "Azeri-Chirag-Guneshli" (ACG) are stabilizing production volumes at the fields, SOCAR head Rovnag Abdullayev said.

He said that at present, the daily production volume at the ACG is 95,000 tons of oil, which is an approximation to an annual volume of 33 million tons.

"At the moment, we are working on the preparation of stabilization programs for 2014 and 2014-2024 and from 2024 until the completion of the exploitation process," Abdullayev said.
Regarding the development of deep laying gas at the ACG, Abdullayev said that the primary version of the risk-service of the contract has already been submitted to partners and at the moment they are considering the submitted proposals.

SOCAR Turkey signs Star refinery construction agreement

Today, Socar Turkey Company, a subsidiary of the State Oil Company of Azerbaijan

(SOCAR) signed an agreement with the consortium that is going to build the Star refinery in Turkey worth $4 billion, Petkim petrochemical complex for which the refinery is planned to be constructed said.

From the Socar Turkey side the agreement was signed by the Petkin chairman Vagif Aliyev.
The consortium which won the tender for the construction of the Star refinery consists of the following companies: Spanish Tecnicas Reunidas, Italian Saipem, South Korean GS Engineering & Construction and Japan's Itochu.

Iran to invest over $8 billion in joint oil, gas fields

Iran's parliament (Majlis) has ordered the oil ministry to invest at least 10 trillion rials (some 8.1 billion dollars based on the official rate of the USD) in the joint oil and gas fields.

The amount would be allocated out of the oil ministry's share of interest from its subsidiary companies, the ISNA News Agency reported.

Iran shares 28 oil and gas fields with its neighbours.

Iran creates consortium to develop oil and gas fields in Caspian Sea

Iran has created a consortium to develop its oil and gas fields in the Caspian Sea, the Mehr News Agency quoted head of the maritime studies centre at Sharif University of Technology Mohammad Sahid Seigi as saying.

A roadmap has been prepared to acquire technology for drilling in the Caspian Sea deep waters, he added.

The Oil Ministry, Khazar Oil Company and a number of domestic universities have created the consortium, he said.

IV International Gas Congress opens in Turkmenistan

The IV International Gas Congress and Exhibition were held in Ashgabat.

According to the report, the forum brought together representatives of the world's foremost companies, namely 500 delegates from 32 countries.

The forum's main topics include the super-giant gas field Galkynysh and its commissioning.

Also on the agenda is the role of Turkmenistan as one of the world's leading producers of natural gas, priority areas for investment in the gas sector of Turkmenistan, the interaction and interdependence between gas producing and consuming countries, the prospects for international operators, the rational development of gas reserves of Turkmenistan, drilling and oilfield services, new opportunities for service companies in Turkmenistan, the use of world experience and advanced technology in order to maximize gas recovery, export of Turkmen gas and diversification of export routes and development of infrastructure.

Ukraine negotiating with Turkmenistan to resume gas supplies

The Minister of Ecology and Natural Resources of Ukraine Oleg Proskuryakov, who is on a working visit to Ashgabat, discusses cooperation issues, including the resumption of gas supplies to Ukraine, the press service of the Ukrainian Ministry reported.

Other issues discussed included the participation of Ukrainian companies in the mineral exploration in the territory of Turkmenistan.

Malaysia's Petronas may withdraw from two major hydrocarbon projects in Uzbekistan

Malaysia's Petroliam Nasional Bhd (Petronas) may withdraw from the two production sharing agreements (PSAs) in Uzbekistan, a source in the Uzbekistan government circles said.

The source said Petronas had informed the government of its intention to withdraw from the PSA for the exploration and development of the Baysun investment block in the Surkhandarya region as well as from the PSA to develop the fields at Urga, Kuanish and the Akchalak group at Ustyurt.

The source did not disclose the reasons behind the Malaysian company's intentions.

Tags:
Latest

Latest