Major events in Caspian countries' oil and gas industry for last week (July 2-7)
Euro-3 ecological standard to be introduced in Azerbaijan
A new standard of fuel and emissions of harmful substances by vehicles - Euro-3 will come into force in Azerbaijan from August 1, the Azerbaijani State Committee for Standardisation, Metrology and Patents said. The period of applying the ecological requirements for the third ecological class (Euro 3) envisaged by AZS 636-2012 standard 'Vehicles. Ecological Classes' will be determined by the Azerbaijani Cabinet of Ministers. Depending on the level of emissions envisaged by the design, the vehicles are divided into six ecological classes in accordance with AZS 636-2012 standard.
Volume of gas production at Shah Deniz amounts to about 23 mln cubic meters per day
Currently the volume of gas production at Shah Deniz amounts to about 22-23 million cubic meters per day, a source of oil and gas market told Trend. The source noted that there are five wells on the field.
In addition, the field produces about 5.5 tons of condensate per day.
Partners on Absheron field in Azerbaijan confirm major gas reserves
French Total on behalf of the partnership SOCAR - Total - GDF Suez issued 'Notice of Discovery and Commerciality' for Absheron field discovery in the Azerbaijani deep waters of the Caspian Sea, the company's statement says. The well results indicate gas resources of 150 to 300 billions of cubic meters (bcm) on the Northern compartment of the structure, the statement says.
SOCAR: Decision to select gas pipeline for Azerbaijani gas transportation to be made in May 2013
In May 2013, the Shah Deniz project partners will make a decision to select one of the gas pipeline routes for transportation of Azerbaijani gas to Europe, President of the State Oil Company of Azerbaijan (SOCAR) told journalists. At present, the partners are evaluating two routes - Nabucco-West and the Trans-Adriatic Pipeline (TAP). He said the partners of the Shah Deniz Consortium intend to purchase most of the equity in the gas pipeline project which will be selected for the transportation of gas to Europe.
SOCAR-Statoil research agreement schedule named
Norwegian Statoil signed a Joint Study Agreement (JSA) with the State Oil Company of Azerbaijan (SOCAR) on a geological and geophysical work evaluation of a shallow water area north-west of the Apsheron Peninsula, Statoil said in its statement.
The State Oil Company of Azerbaijan (SOCAR) and Statoil will process seismic data in the shallow waters of the north-western part of the Absheron Peninsula within six to eight months, the source in SOCAR said.
The source said that the work will cover Simal Absheron Deniz, Shimal-gerbi Absheron kechid and the coastal strip of Guba (the northern region of Azerbaijan).
Joint work envisages processing and interpretation of two and three-dimensional seismic data in the territory
"After data processing, their interpretation will be held during a year," the source said. "In total, the work will take about two years".
As Statoil said the company under the contract will re-evaluate the existing geological and geophysical data by using modern technology. No work was conducted on this area earlier.
Pars gas pipeline construction may begin in 2013
The Pars gas pipeline construction designed to supply Iranian gas to Europe via Turkey could begin in 2013, Turang Transit Transportation, implementing a project in Turkey, told Trend.
"The tender will be announced during the first months of next year to find a contractor to carry out construction work within the project," the company employee dealing with this project Kasim Oztash told Trend.
Oztash stressed that the route of the project, passing through Turkey, will be changed. Thus, the new route of the gas pipeline envisages gas transportation through the Turkish provinces of Gumushane, Kirshehir, Kutahya and Tekirdag. "These changes will reduce the Pars project route and facilitate its implementation," he added. Oztash stressed that the length of the gas pipeline from the eastern border of Turkey to the western will hit 1,750 kilometers. Its capacity is estimated at 35 billion cubic meters of gas. According to recent estimates, the cost of the project hits 5.5 billion euros. All the details of Pars project have been negotiated by the parties," he added. All preliminary work within the project has been completed. The project is being supported by the Turkish Ministry of Energy and Iran's Ministry of Petroleum. They signed an agreement to implement the Pars project on November 17, 2008," Oztash said.
Iran's minister: New oil reserves discovered
New petroleum reserves have been discovered in the Iranian Yadavaran field, adding 5.55 billion barrels to the country's exploitable reserves. Oil Minister Rostam Ghasemi, who told Shana news about the discovery, said Yadavaran is producing 20,000 barrels of oil a day currently. When the field's second phase becomes operational, 200,000 barrels of oil will be added to Iran's daily production. Yadavaran is 70 kilometers southwest of Ahwaz in Iran's oil rich Khuzestan Province. It sits on the Iran, Iraq border and is shared by the two countries. Estimates say there are more than 12 billion barrels of oil in Yadavaran and that number could increase to 30 billion barrels.
Dragon Oil announces about successful oil well drilling in Turkmen section of Caspian Sea
The Oil and Gas Company in UAE, Dragon Oil in its press release announced about successful completion of the next phase of drilling operations in the Turkmen section of the Caspian Sea. The question is about a well on the Dzheitune (Lam) C/173 field. The well was completed as a dual producer to a depth of 3,015 metres. The combined initial flow rate is 2,918 bpd. The Cheleken project has been implemented in Turkmenistan since the mid-1990s. The development is executed in the Dzheitune and Jigalibek fields on the shelf of the Caspian Sea. The proved and probable remaining oil reserves on the contract area are about 300 million barrels of oil and more than 3 trillion cubic feet of gas. So far, the company has invested over $2.3 billion in the development of fields in the contract area Cheleken.