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Major events in Caspian countries' oil and gas industry for last week (Nov.16-20)

Analysis Materials 23 November 2015 17:02 (UTC +04:00)

Int'l oil and gas conference opens in Ashgabat

The international exhibition and conference "Oil and Gas of Turkmenistan" (OGT-2015) opened in Ashgabat.

During the event, representatives of global business circles will be informed of the current status and prospects for developing the oil and gas industry in the country, according to the organizers.

The conference will be attended by heads of Turkmenistan's oil and gas complex; international oil, gas and service companies; equipment manufacturers; and financial institutions.

First offshore platform of South Pars phase 19 installed

The first offshore platform of Iran's South Pars gas field was installed in the Persian Gulf.

Hamid Reza Masoudi, an official with Pars Oil and Gas Company, spoke about the early production plan for phase 19, saying that the SPD2 platform will start production of 500 million cubic feet of gas/day (14 million bcm) by the end of the current Iranian fiscal year (March 2016), Shana news agency reported.

Construction of the platform is complete by 95 percent, he said, adding that Iran has reached self-sufficiency in designing, building, installing, and launching platforms.

The phase 19 of the South Pars gas field is aimed to produce 50 million cubic meters of gas, 77000 barrels of condensate, 400 tons of sulfur, and 1.1 million tons of LNG per day for exports.

Azerbaijan agrees to become GECF observer

Azerbaijan gave its agreement in principle to get the status of an observer in the Gas Exporting Countries Forum (GECF), the press office of Energy Ministry said.

"The GECF board has repeatedly offered Azerbaijan to join its work," said the ministry. "After lengthy negotiations, Azerbaijani side considered it appropriate to take part in the GECF with an observer status and gave its consent."

The ministry noted that the GECF's third gas summit will be held soon, and Azerbaijan will be represented there by Minister of Energy Natig Aliyev.

The GECF counts for 42 percent of the world's gas production, owns 67 percent of the world's gas reserves, conducts 38 percent of global gas transfers, and 85 percent of the global LNG trade. The forum is made up of 18 main and observer members.

Iran, Russia, Qatar, Algeria, Bolivia, Egypt, Equatorial Guinea, Libya, Nigeria, Trinidad and Tobago, Venezuela, Peru and the United Arab Emirates are the main members of the forum.

The Netherlands, Kazakhstan, Iraq, Norway and Oman will also take part in the forum's summit as observer members.

The topic for this year's GECF summit is "Promoting Technologies for Sustainable Environmental Management".

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