Baku, Azerbaijan, May 31
By Sara Israfilbayova – Trend:
The towing of Satti jackup rig will begin from Kazakhstan to Azerbaijan on June 6, and will likely reach Baku on June 10, said Kurmangazy Iskaziyev, Deputy Chairman of the Management Board for Exploration, Production and Oilfield Services at Kazakhstan’s state company KazMunaiGas, Trend reports.
Iskaziyev made the remarks at the 26th International Caspian Oil & Gas Conference in Baku on May 31.
The deputy chairman also spoke about the company's resource base, noting that the proven residual recoverable reserves of oil and condensate of KazMunaiGas company are estimated at 668 million tons for the beginning of this year.
"Currently, Kazakhstan is ranked 12th in the world in terms of proven reserves of liquid hydrocarbons, 22nd in terms of natural gas reserves and 17th in oil and gas," Iskaziyev said.
Azerbaijan’s SOCAR and KazMunaiGas signed a memorandum of cooperation in January 2019. Potential projects for joint geological and geophysical work and oil and gas exploration are being studied on its basis.
The memorandum provides for the exploration of the possibilities of cooperation in the fields of transportation, trade, and geological work in the Caspian Sea, among others.
The 26th International Caspian Oil & Gas Conference, held at Bilgah Beach Hotel, started on May 30 and continues today. It involves top-level executives of companies from the energy sector, who discuss key oil and gas projects of the Caspian region and energy security.