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

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.

Subscribe to Trend in Google News! Subscribe
Weekly actual topics in Azerbaijan (April 16-20)
Weekly actual topics in Azerbaijan (April 16-20)
Weekly tenders in the region (April 16-20)
Weekly tenders in the region (April 16-20)
Last week’s laws, orders and decrees in Azerbaijan (April 16-20)
Last week’s laws, orders and decrees in Azerbaijan (April 16-20)
Loading Bars
SOCAR Turkey working on improving STAR-Petkim integration
Kazakhstan Electricity Grid Operating Company turns on all "North-East-South of Kazakhstan" transmission lines
Uzbekistan resumes operation of its airports
Karabakh to become most beautiful region of Azerbaijan soon – deputy PM
President Ilham Aliyev presents Istiglal Order to Chairperson of Organization of Veterans of War, Labor and Armed Forces of Azerbaijan (PHOTO)
Uzbekistan begins to restore electricity supply following power outages
Turkmen agriculture ministry opens tender for supplier selection
Turkey's chemical exports to Azerbaijan increase in 2021
President of Azerbaijan Ilham Aliyev holds videoconference meeting with Iranian minister (PHOTO)
Azerbaijani oil prices decline
Israeli envoy recalls key role of India in WW-I
Kyrgyzstan gradually restoring energy system after power outage in Bishkek
Uzbekistan accredits Russia's Gazprombank
Credit Suisse's problems mount as lender warns on Q4 profit
Israel mulls offering 4th COVID vaccine dose to all adults
Azerbaijan commissions several customs posts in liberated areas
Georgia names main suppliers of coal
Kazakhstan’s Almaty Int’l Airport operating as usual despite power outage in city
Uzbekistan discloses reasons for power outage
Uzbekistan suspends operation of airports due o power outage
Georgia to highly benefit from Turkish medicines – ministry
Azerbaijani First VP Mehriban Aliyeva congratulates Fatma Sattarova on 100th birthday anniversary (PHOTO)
Kazakhstan taking measures to eliminate accident that caused power outage – KEGOC
Russian company acquires stake in Uzbek cement plant
Loan portfolio of banks increases in Azerbaijan
Georgia reports new record high COVID-19 cases
Georgia’s Poti FIZ eyes launching new projects in 2022
Electricity supply facing security challenges, requires multiple services
Azerbaijani Defense Minister's visit to Iran starts
Kyrgyzstan’s Bishkek experiencing power outages across entire city
Azerbaijan’s role in solving global problems is growing - Analysis
Azerbaijan organizes movement of working trains on Zangazur corridor (PHOTO)
Kazakhstan Deposits Insurance Fund raises maximum recommended rates on deposits
Uzbekistan’s Tashkent Metro suspends operations
Kazakhstan reports large-scale electricity power outage in Almaty
ADB and Turkmenistan working on SME exporters’ project
Azerbaijani currency rates for January 25
Uzbekistan shares data on sectors driving GDP growth
Kazakhstan appoints chairman of Central Election Commission
Azerbaijan's export-import operations up in 11M2021 - WB
Georgia increases food safety system backed by EU
TPPs to play less role in flexible power system, says IEA
ITACA Training and Research Center opened at Baku Higher Oil School (PHOTO)
Azerbaijani AzFinance company’s bonds listed on Baku Stock Exchange
Azerbaijan opens criminal investigation against 297 Armenian citizen involved in war crimes
Iran's TEDPIX records drop
OSCE PA representatives to visit Kazakhstan
Oil prices rebound as growing geopolitical tensions fuel supply fears
FMs of Turkmenistan and Pakistan talk preparations for session of OIC Ministerial Council
Iranian currency rates for January 25
FMs of India and Turkmenistan talk wide range of issues of bilateral relations
Bhavish Aggarwal-led Ola Electric valuation tops $5 bn with $200 mn funding
Iran is likely to have direct talks with US - Iranian FM
Iran plans to reopen closed production factories
Azerbaijani, Iranian delegations jointly visit Azerbaijan's liberated areas
Trade turnover between Kazakhstan, Russia’s Republic of Tatarstan revelead
TBC Capital updates its forecast for economic growth in Georgia for 2022
Turkmen Health Ministry opens tender for purchase of medicine
Russia's Azimuth Airline launches direct flights to Azerbaijan
S.Korea's daily COVID count tops 8,000 for first time amid Omicron spread
Announcement of 2022 as "Year of Shusha" in Azerbaijan by President Ilham Aliyev is celebration for all Azerbaijanis - Famous composer
No decision by Iran on direct talks with US - FM
Austria and Turkmenistan to intensify their dialogue and cooperation in 2022-2023
9,016 new COVID-19 cases confirmed last 24 hours
NASA's new space telescope reaches destination in solar orbit
Indian firm gets foothold in prized global ‘kamikaze’ and armed drones market
Heavy snowfall cripples life in Istanbul amid safety warnings
At least six killed in Cameroon stadium stampede
India needs an atmanirbhar electric vehicle supply chain before invites to Tesla
U.S. Navy pilot ejects, 7 hurt in F-35 South China Sea 'landing mishap'
Centurion tank, other weapons used in 1965 & 1971 to add historical flavour to 26 Jan parade in India
Assange wins right to appeal extradition to U.S.
Over 45 countries expected to participate in multilateral exercise Milan in 2022: Indian Navy
Burkina Faso army deposes president in West Africa's latest coup
Istanbul Airport suspends all flights amid heavy snowfall
India attends informal WTO meet to take stock of negotiations
Explosion kills 6 in southern Somalia
Country calmly to pass current winter season - Ukrainian president
Republic Day parade in India to showcase old, new era of Army
Georgia names main goods imported from Uzbekistan
Kyrgyzstan enters top 10 trade partners of Uzbekistan
Current situation in Ukraine is under control - Zelensky
Iran, Uzbekistan emphasize boosting customs cooperation
Gov’t to set up commission for project of Georgian cultural centre in Jordan
PM of Ukraine says no threats to functioning of national economy
Armenia sincerely wishes to normalize relations with Turkey - Nikol Pashinyan
Armenia ready to sign peace agreement with Azerbaijan - Pashinyan
Sudan security forces fire tear gas on protesters
Launch of Baku-Shusha bus route of particular importance for Shusha city - Special Representative of Azerbaijani President
Azerbaijan talks applications received by SMB Development Agency on creating business in liberated lands
Uzbekistan working to establish power supply in Tashkent region
Azerbaijan discloses annual turnover growth of E-PUL payment system for 2021
Price indexes of financial, construction sectors at Uzbek stock exchange fall
Toyota Caucasus becomes member of Business Association of Georgia
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 757 more COVID-19 cases, 302 recoveries
Turkmen livestock complex in Akhal region names volume of production
Uzbek company reveals volume of exports to French Bonduelle
Bank of Georgia supports new tower construction in Tbilisi
Iran’s Bahar Azadi gold coin price continues to rise
All news