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Major events in Caspian countries' oil and gas industry for last week (March 13-17)

Analysis Materials 24 March 2017 11:45 (UTC +04:00)

SOCAR buys 7 new oil tankers

Azerbaijan’s state oil company SOCAR bought seven tankers from Turkey-based Palmali Shipping Company to expand the transport capacity of the Azerbaijani company’s fleet in the Mediterranean and Caspian seas, Arzu Azimov, the Geneva-based head of SOCAR Trading, told Reuters.

The deal, which was closed last month, gives SOCAR access to two Suezmax-class tankers with deadweight of 140,000 tons each and five Aframax-class tankers with 80,000 tons capacity each, Azimov noted. The new tankers are significantly bigger than those being currently in SOCAR’s fleet of around 30 ships, which have deadweight of between 5,000 to 15,000 tons, Azimov said.

Second Shah Deniz 2 platform jacket sent offshore

The Shah Deniz consortium has announced the sail away of the second jacket for the Shah Deniz Stage 2 platforms.

“The transportation, launch, positioning, pile installation and final completion activities of the jacket structure are expected to take around 75 days, depending on the prevailing weather conditions,” said the Shah Deniz consortium.

“2017 is an important year for BP and for the Shah Deniz 2 project, which is already around 90% complete,” Ewan Drummond, Shah Deniz 2 Projects vice-president, said.

The QU platform jacket weighs approximately 12,084 tons and stands 105 meters high. The jacket will be installed in a water depth of 95 meters.

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