Major events in Caspian countries' oil and gas industry for Sept. 8-13

Major events in Caspian countries' oil and gas industry for Sept. 8-13

Baku, Azerbaijan, Sept. 15

Trend:

SOCAR's Black Sea oil terminal to receive hydrocarbons from tankers

Black Sea Terminal LLC of the State Oil Company of Azerbaijan (SOCAR) has completed the construction of a trestle in Kulevi (Georgia) for receiving hydrocarbons from sea tankers, a message posted on the official website of the company said.

Previously the terminal was only able to load the tankers, however, the new infrastructure will also allow it to receive products from the sea and this will increase its transshipment volume, according to the company's message.

The import facility is comprised of the import trestle for the unloading of 10 tankers, pipelines for transporting various products and other systems required for the import operations.

SOCAR announces tender for joint projects in Caspian Sea

SOCAR (State Oil Company of Azerbaijan) has announced a tender for the joint development of the Umid field and Babak perspective structure in the Azerbaijani sector of the Caspian Sea, the first vice-president of SOCAR Khoshbakht Yusifzade said.

The drilling of new wells on Umid field, where two wells already operate, was stopped due to the announcement of a tender for the field, he said. Construction works on the field of the second platform were also suspended.

Yusifzade explained the stoppage of works by the fact that the winner of the tender may have another approach to the development of the field.

The daily debit of two wells in the Umid field varies in the range of 1.1-1.5 million cubic meters of gas.

SOCAR building new platform in Caspian Sea

Azerbaijan's State Oil Company (SOCAR) is installing support blocks as part of creation of the new platform No.6 at the Bulla Deniz field in the Azerbaijani sector of the Caspian Sea, SOCAR First Vice-President Khoshbakht Yusifzade said.

He said that in general the platform will consist of 11 blocks and is meant to drill four gas wells.
The daily debit of the four wells at platform No.6 is projected to reach two million cubic meters of gas and 600 metric tons of condensate.

Iran, Russia sign 4 MoUs on oil cooperation

Iran and Russia signed four Memorandums of Understanding (MoU) for cooperation in the oil sector on Sept. 9. MoUs were signed in oil and gas, petrochemical, industry and mine sector, including a MoU between Iran International Petrochemical Company and the Russian Gas Stroll to build a fertilizer plant, Shana News Agency reported.

Iranian Oil Minister Bijan Namdar Zanganeh and Russian Energy Minister Alexander Novak signed the document at the end of the 11th meeting of Iran-Russia Joint Economic Cooperation Commission which was held in Tehran.

New operator of Kazakh Kashagan field announced

North Caspian Joint Venture (NCJV) will be a new operator of the North-Caspian project in the Kashagan field. It will replace North Caspian Operating Company.

"The name of North Caspian Joint Venture company testifies to new approaches to the investors' risk assessment," according to the statement.

"The most important thing is the term venture," according to the statement. "Using this term means a radical change in the financing scheme of the project, turning the operating structure into self-financing and independent attracting of investments through venture capital foundations."

"The investors' funds will refer to the category with a high degree of risk and will be considered as long-term," according to the statement.

Ashgabat discusses practical realization of TAPI gas pipeline project

Turkmenistan discussed the aspects of practical implementation of the TAPI gas pipeline project (Turkmenistan-Afghanistan-Pakistan-India) with the TAPI project member states, Turkmen media reported.

The president of Turkmenistan Gurbanguly Berdimuhamedov held a series of meetings in Dushanbe (Tajikistan), where the meeting of the heads of states of the Shanghai Cooperation Organization (SCO) took place, and where he was invited as a honorable guest.

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