Major events in Caspian countries' oil and gas industry for last week (Nov. 28- Dec. 3)

Major events in Caspian countries' oil and gas industry for last week (Nov. 28- Dec. 3)

Uzbek president approves oil and gas agreements

Uzbek President Islam Karimov has approved documents and projects signed within the first meeting of the Uzbek-Chinese intergovernmental committee.
The first meeting was held in October this year.
The framework agreement was signed with China's Xinjiang Guanghi Industry Investment Group to establish a joint venture producing liquefied natural gas.
An agreement on basic principles of cooperation for the joint development of the Mingbulak field was signed with the China National Petroleum Corporation.

Department of State: U.S. supports Turkmenistan's initiatives to ensure energy security

Turkmen President Gurbanguly Berdimuhammadov received U.S. Assistant Secretary for South and Central Asian Affairs Robert Blake.
The U.S. diplomat said that the U.S. supports Turkmenistan's international initiatives aimed at seeking optimal solutions to urgent problems, ensuring global energy security.
He also said that "the U.S. government welcomes Ashgabat's leading role in promoting the project of Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline".
At the same time "huge importance of the transnational project was stressed.
The length of TAPI can hit more than 1,700 km, its design capacity - 33 billion cubic meters of natural gas per year, the cost is estimated at $7-8 billion.

BP, SOCAR, BOTAS ratify all agreements on Shah Deniz gas transportation

BP, SOCAR (the Azerbaijan State Oil Company) and BOTAS (the Turkish Petroleum Pipeline Corporation) have formalised a set of 14 agreements underpinning the operations of the BTC Pipeline and the full development of the giant Shah Deniz gas field.
They were ratified on Nov. 25.
These agreements were signed at a meeting between Recep Tayyip Erdogan, Prime Minister of Turkey, and Ilham Aliyev, President of Azerbaijan, in Izmir last month.
The agreements provide a legal framework for the sale of Shah Deniz gas to Turkey and its transportation to the European markets through Turkey, starting in 2017.

SOCAR launches 3D studies within new contract

The State Oil Company of Azerbaijan (SOCAR) has launched three-dimensional (3D) geophysical studies on the Zig-Hovsan fields and "Guru-Deniz" site developed by Absheron Operating Company.
The work is scheduled to be completed within three or four months.
SOCAR will conduct data processing and interpretation of the received data.
The participants of PSA to develop a block of onshore fields Zig-Hovsani are SOCAR (25 percent) and Global Invest (75 percent).

SOCAR commissions new well in Caspian Sea

The State Oil Company of Azerbaijan (SOCAR) has commissioned a new gas-condensate well in the shallow part of the Guneshli field in the Azerbaijani sector of Caspian Sea.
About 140,000 cubic meters of gas and 10 tons of condensate are extracted daily from the well on the interval of 3,665-3,625 meters.
Drilling of the well was carried out by SOCAR-AQŞ joint venture on the order of SOCAR's "28 May" Oil and Gas Department.

Kazakhstan redirects oil volumes as Ukraine ups transit tariff

Kazakh oil is not transited through Ukraine because Ukrtransnafta increased the tariff for the oil transportation services through the territory of Ukraine through the system of trunk oil pipelines.
Kazakh shippers redirected the oil volumes to the Black Sea and Baltic Sea, which are economically more attractive for Kazakh oil companies than the supplies by transit through Ukraine.

Uztransgaz modernizes gas networks

Uztransgaz is a structural unit of the National Holding Company "Uzbekneftegaz", the operator of gas transportation in Uzbekistan, registered the project of reducing the leaks in natural gas in distribution networks in Bukhara and Navoi areas. The project was registered in the UN executive council on the Framework Convention on Climate Change.
According to the Ministry of Economy, the project is worth $17.4 million. It is planned to install new packing materials, as well as additional equipment to monitor, measure and eliminate leaks in the distribution networks of low and medium pressure by late 2012.
The project is implemented by Uztransgaz and Climate Change Capital company (Great Britain).
The project will be financed through the British Climate Change Capital company's investments.

Kazakhstan to monitor mining contracts

Kazakhstan has refused to accept the practice of terminating contracts with unfair mining companies and has replaced the measure with fines.
The matter rests in contractual penalties. The amount will depend on the conditions of the contract. The termination of the contract will be used as a last measure, as in this case people will lose their jobs.
We sent 135 notifications to mining companies about their violations for the first nine months of this year," he said. If the situation doesn't improve, the termination of the contract will be used as a last measure.
Last year, the Kazakh oil ministry unilaterally terminated 28 contracts for subsoil use.

Turkmengaz to sign contract with Russia to supply pipes

The State Concern Turkmengaz intends to sign a contract with Joint Stock Company "Trade House TMC" (Russian Federation) to purchase over 7,168 tons of steel pipes.
The corresponding order by President Gurbanguly Berdimuhammadov was signed in order to fulfill the tasks set before the country's gas industry in accordance with the "Program of Oil and Gas Industry of Turkmenistan until 2030".
The products will be used when reconstructing sections of the "Central Asia-Center-3" (CAC-3) gas pipeline and main bypass gas pipeline "Belek-Turkmenbashi".

Oil falls as demand growth concerns outweigh U.S. stock drawdown
Oil falls as demand growth concerns outweigh U.S. stock drawdown
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Turkmenistan, USAID consider possibility of implementing number of joint projects
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WeWork sells control of China unit; says unit got $200 million in funding
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