Major events in Caspian countries' oil and gas industry for last week (Jan.2-7)

Major events in Caspian countries' oil and gas industry for last week (Jan.2-7)

SOCAR increases capital in Turkish JV

The State Oil Company of Azerbaijan (SOCAR) has increased paid-up capital in the Turkish joint venture from 200 million lira to 2.4 billion lira ($1.3 billion). SOCAR-TURCAS was renamed as SOCAR Turkey Enerji after increase of SOCAR's share in the venture
The total amount of the joint venture's investment portfolio hits $7 billion.

Drilling of first well at new major field completed in Azerbaijan

Drilling of the main hole of the well at large gas field Absheron in the Azerbaijani sector of the Caspian was completed, as a result Nadkirmakin suite was opened at 6,875 meters depth. Drilling of the well was carried out using the Heydar Aliyev semi-submersible drilling rig operated by Denmark's Maersk Drilling. Currently testing of Break suite is underway. Opening of Nadkirmakin suite showed positive results. It is planned to drill the side well bore up to 1,500 meters from the depth of 4,000 meters to receive more detailed information on the field. The project partners are SOCAR - 40 percent, Total - 40 percent and Gaz De France Suez - 20 percent. The Absheron field's potential reserves are estimated at 350 billion cubic metres of gas and 45 million tons of condensate

Lukoil extracts first gas in south of Uzbekistan

Lukoil Overseas, the operator of international mining projects of the Russian LUKOIL national company, extracted its first gas within a production sharing agreement (PSA) to develop gas reserves in South West Gissar (Kashkadarya region, south of Uzbekistan).
The company extracted gas in the largest gas field of the block - Jarkuduk - Yangi Kyzylcha
The planned production in Jarkuduk will initially reach 1.1 billion cubic metres of natural gas per year. It is also planned to commission large fields Adamtash and Gumbulak. The volume of investments will hit more than $ 1.2 billion and the planned level of gas production, 5.8 billion cubic meters a year.

Iran, UAE come to terms on drilling in Turkmen waters

Iran and the United Arab Emirates have agreed on extending the drilling operations in the Turkmen section of the Caspian Sea. the Iran-Khazar Jack-up rig has been in operation in the Turkmen section of the sea for five years, and that the NDC has extended the contract with the UAE contractor until 2013

Azerbaijan registers two representative offices of British BP

Representative office of the BP Exploration (Shafag-Asiman) Limited was registered in Azerbaijan. Head of the office is Rashid Javanshir, who is also the head of "BP-Azerbaijan". Founder is BP Exploration (Shafag-Asiman) Limited (United Kingdom of Great Britain and Northern Ireland). Also, the country registered representative office BP Shafag-Asiman Limited, official representative of which is Rashid Javanshir. BP-Azerebaijan and Caspian Geophysical signed a contract to carry out 3D-seismic in May. The SOCAR and BP signed the PSA on "Shafag-Asiman" for a period of 30 years. The exploration period is 4 years with possible prolongation for another 3 years. The first stage of exploration works envisions drilling of two wells. The second one assumes drilling of two more wells, if necessary. As the sides go over to the production stage, they will operate the project jointly. The two companies hold equal interests in the project. "Shafag" and "Asiman" structures are located 125 kilometers to the south-east of Baku.

Azerbaijani Ministry of Justice opens tender to buy medical equipment and supplies
Azerbaijani Ministry of Justice opens tender to buy medical equipment and supplies
Turkmenistan’s Oil Refineries extends tender for gasoline purchase
Turkmenistan’s Oil Refineries extends tender for gasoline purchase
Kazakhstan's  largest oil pipeline company to buy power stations via tender
Kazakhstan's largest oil pipeline company to buy power stations via tender
Loading Bars
Azerbaijani president: According to our intelligence, very serious military training under way
President Ilham Aliyev: Armenia is preparing for war
President Ilham Aliyev: Region has not become a safer place, unfortunately, situation is deteriorating
US embassy in Azerbaijan urges to reconsider non-essential travel outside Absheron Peninsula
Global COVID-19 death toll could hit two million before vaccine in wide use: WHO
'Intellectual Field' to allow stabilize production level in Kazakhstan
Iran's auto giants to talk over hybrid vehicles production
Azerbaijani ministry discloses volume of toxic emissions from cars
Georgian expert: Armenian authorities controlling separatist regime in Karabakh crossed red line
Azerbaijani minister of economy reviews activity of industrial enterprises in Ganja (PHOTO)
Volume of maritime cargo transshipment from Portugal via Turkey disclosed
Tactical-special and combat training classes underway in Azerbaijan (PHOTO/VİDEO)
EBRD and FAO to assist Georgia in field of agro tourism
STAR Refinery has dynamic decision-making process on oil purchases
Uzbekistan to be supplied with Russian coronavirus vaccines
Uzbekistan, Tajikistan to maintain Uzbek energy and water resources balance
Azerbaijan’s Bakcell preparing discounts for teachers within project
UK study shows rapid test has diagnostic sensitivity over 99%
Kazakhstan's grain export volume revealed
Amazon hiring 150 employees in Israel
Baku Higher Oil School on top of grade ranking among universities in Azerbaijan
Mortgage lending via state line in Azerbaijan up
Russia leading exporter of polymer products to Turkmenistan
Volume of deposits up in Georgia
September occupancies up in Georgian regional hotels
Kazakhstan, Azerbaijan strengthening co-op in medical tourism
Rates of dollarization on loans and deposits up in Georgia
Volume of deposits in Azerbaijan grows
Russia increases exports of frozen vegetables to Turkmenistan
Bakcell talks about network congestion and secure internet
Azerbaijani banks increase lending to clients
Iranian government is modernizing agriculture in Tehran Province
Italy lowers import of Turkish cars
Loans and deposits, expressed as percentage of GDP, increase in Georgia
Netherlands increase export volume to Kazakhstan year-on-year
Georgian hazelnuts exports up
Azerbaijan's Anglo Asian Mining reveals 1H2020 income
Several industrial projects to be implemented in Kazakhstan's Almaty
Azerbaijan's Azexport portal to place insurance services
Sooner Armenia withdraws its armed forces from the occupied territories of Azerbaijan, sooner the conflict will be resolved (PHOTO)
Moscow reports 1,560 new coronavirus cases, highest since June 12
Azerbaijani schoolchildren perform successfully at 32nd International Olympiad in Informatics (PHOTO)
Azerbaijan confirms 137 more COVID-19 recoveries
ADB: Developed capital markets enhance financial stability in Azerbaijan
Covid-19 daily infections swell 12% to new record
Energy efficiency to be increased at Uzbek manufacturing enterprises
Shell books tanker to load crude at Libya's Zueitina oil port
Turkmenistan’s Oil Refineries extends tender for gasoline purchase
Kazakhstan's QazTech Ventures to fund Uzbek startups
Gas exports from Azerbaijan to Turkey significantly up
VTB Bank, Entrepreneurship Development Fund of Azerbaijan issuing loans to businesses
Azerbaijani FM receives ambassador of Greece
Vietnam interested in import of Azerbaijani products
EU working with Georgian partners to strengthen cybersecurity in country
Azerbaijani ministry talks introduction of contactless payment in public transport in districts
Central Bank of Azerbaijan to hold deposit auction
Azerbaijan discloses data on tobacco exports for 2019
BP: Oil demand to remain central part of energy system for next 10–15 years
Azerbaijani MP: Armenia resettling terrorists to Nagorno-Karabakh region, facts prove ASALA's presence
Apple says has always abided by Irish law as EU appeals court ruling
Precious metal prices in Azerbaijan up again after decline
Iran assigns housing units to low income
Money supply increased in Uzbekistan
Uzbekistan to export fuel diesel to Pakistan
Georgia reveals volume of premiums attracted by insurance companies
UN highlights Azerbaijani president’s speech at 75th session of UN General Assembly
Kazakhstan's largest oil pipeline company to buy power stations via tender
LNG demand to double over next 20 years
Volume of gas production by Turkmenistan’s Lebapgazchykarysh revealed
Expert talks putting Azerbaijan's domestic tourism back on its feet
Deputy FM: Rejecting proposals to resolve conflict, Armenian leadership makes negotiations meaningless
Road in border village of Azerbaijan’s Gazakh district being overhauled (PHOTO)
Israeli politician: We find Azerbaijan a good friend of Israel
Around 6,000 people internationally wanted by Russia
Buffett-following investment trust to list in London
EU Special Representative: EU has strong interest in peace, stability in South Caucasus
Georgia reports 265 new cases of coronavirus
Instagram fixes breach found by Check Point
US’ share in Azerbaijan's total imports grows
FAO provides strategic support for Uzbek Agriculture Ministry
Conference of the People’s Council of Turkmenistan was held at the high organizational level
Italian geopolitical analyst: Mechanism needed for implementation of UNSC resolutions on Nagorno-Karabakh conflict
Turkmenistan to expand areas for growing crops
Azerbaijani oil prices down
Georgia, Azerbaijan united by energy and transport projects of international importance
President Ilham Aliyev receives EU Special Representative (PHOTO)
Chairman Israel Empowerment Lobby: Azerbaijan tolerates all religions
Electronic Water Portal launched in Azerbaijan (PHOTO)
Agro Service: Azerbaijan has no shortage in fertilizers
Сoordinated fake news attacks on Azerbaijan debunked (PHOTO)
Georgia takes part in high-level Open Government Summit together with world leaders
Belarus raises goods export to Azerbaijan
Georgia hosts Cyber ​​Security Forum
Demand for Turkish clothing in Georgian market declines
Turkmenistan working to improve transport macrostructure
Azerbaijani Ambassador presents his credentials to President of Mexico
Georgia to start producing anti-hail nets for orchards
German export expectations hit highest level since October 2018
President Ilham Aliyev: Non-fulfillment of Security Council resolutions undermines prestige of UN
Irish foreign minster says EU-UK trade deal breakthrough possible
All news