Main events in oil and gas sector in Caspian region (Nov.9-13)
Azerbaijan, Baku, Nov. 14 / Trend /
Baku discusses Azerbaijani-Israeli relations
Israeli National Infrastructure Minister Uzi Landau discussed prospects of bilateral cooperation in Baku. During the talks, the Caspian oil supplies to Israel and prospects for development of Israel's fields were discussed.
SOCAR, Statoil to expand cooperation
President of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev met with President of Norway's Statoil Helge Lund in Baku. At the meeting, Lund voiced the intention of him-led company to raise cooperation with the SOCAR up to strategic level.
Ashgabat, Budapest declare importance of energy security
President of Turkmenistan Gurbangulu Berdimuhammedov and Hungarian President Pal Schmitt stressed the importance of ensuring energy security in their joint declaration signed following the Hungarian leader's visit to Ashgabat. "Touching upon issues of energy resources supply to the world markets, the presidents stood for creating the multiversion pipeline infrastructures that will be directed at ensuring energy security in the regional and global scale," text of the document says.
SOCAR plans to participate in oil projects abroad
SOCAR has decided to participate in oil-production projects abroad, SOCAR head Rovnag Abdullayev said. SOCAR is already working in the energy markets in several countries, including Georgia, Turkey and Ukraine. "SOCAR is already involved in international projects," he said. "This is nothing new. But these activities are mainly retail sales." SOCAR has decided to participate in hydrocarbon production projects abroad together with foreign companies.
AGRI project feasibility study to be completed in spring
The feasibility study of the Azerbaijan-Georgia-Romania Interconnector (AGRI) Project will be completed in April 2012, as provided in the protocol signed after an Azerbaijani-Hungarian intergovernmental commission meeting in Baku.
BP completes technical operations on 'Eastern Azeri' platform in Azerbaijan
BP (operator of the block of "Azeri-Chirag-Guneshli" offshore fields' development in Azerbaijan) has completed the operations and launched the "Eastern Azeri" platform, whose activity was stopped within the maintenance program at three offshore platforms in the Caspian Sea.
SOCAR starts geophysical survey for Absheron Operating Company
SOCAR has launched 3D geophysical studies on the Zig-Hovsan onshore fields developed by the Absheron Operating Company Limited. The work would be done in an area of 70 square kilometers in compliance with safety and environmental protection standars, as the area is densely populated. Participants in the PSA contract to develop the Zig-Hovsan onshore fields are SOCAR (25 percent) and the Global Invest company (75 percent).
Georgia signs oil agreements with foreign investment companies
LEPL "Agency of Natural Resources" at the Georgian Energy and Natural Resources Ministry signed agreements on oil search and extraction with the several foreign investment companies. License blocks are located in the west and east Georgia, as well as in the Adjara region. Each license will be valid for 25 years. Under the agreements signed between the Georgian government and the investors, the state will receive a bonus of $7.044 million. Approximately $85 million will be invested in license blocks in Georgia within four years.
KMG subsidiary commissions 6 new units at Petromidia refinery
Rompetrol Rafinare, which is wholly owned by the Kazakh state oil and gas company "KazMunayGas" (KMG) completed installing six of nine industrial projects during the modernisation of the Petromidia refinery. The investment package will help the Petromidia refinery reach an equal par with the best refineries in Southern and Eastern Europe. A catalytic cracking unit, desulphurisation unit (acid gas removal), a new flare system and the air separation unit were put into operation. The reconstruction of Petromidia refinery is a part of the National Company KazMunayGas's strategy to consolidate and expand its presence in Central and Eastern Europe, Romania, Bulgaria, Moldova, Ukraine and Georgia. Rompetrol has filling stations there, as well as in Turkey, Serbia and Greece.