Major events in Caspian countries' oil and gas industry for last week (aug.27- sept. 1)

Analysis Materials 3 September 2012 11:11

Azerbaijani President receives European Commissioner for Energy

President of Azerbaijan Ilham Aliyev has today received a delegation led by the European Commissioner for Energy Gunther Oettinger. President Ilham Aliyev and Gunther Oettinger discussed the expansion of Azerbaijan-EU energy cooperation, as well as issues related to the Southern corridor.

Preparation of feasibility study of major gas project in Azerbaijan completed

German E.ON completed preparation of feasibility study of the modernization and reconstruction of the gas network of Baku and Absheron region, a source at SOCAR said.

"The company has fully completed the feasibility study and has presented it to State Oil Company," the source said. The reconstruction will be carried out during several years and will require an investment of around one billion euros.

SOCAR plans to buy some shares in Turkish gas distribution network

SOCAR plans to acquire some shares in Istanbul's gas distribution network İGDAS, SOCAR Turkey Energy head, and board member of the Petkim petrochemical complex Kenan Yavuz said in an interview with the Turkish edition Para Dergisi. "Last year the company based on the İGDAS acquisition was founded," he said. "We also have partners in the İGDAS privatisation." He added that SOCAR intends to offer a reasonable price to purchase a part of the gas distribution network.

SOCAR announces volumes of gas supplied to Georgia

SOCAR has resumed gas supplies to Georgia, a source in SOCAR said. Azerbaijani gas supplies were suspended in May due to poor demand for gas on the Georgian market. According to the source, at present, SOCAR supplies a daily amount of 3.5 million cubic meters of gas to Georgia.

Iran's banking sector finances $2.8 billion worth of gas projects

The Iranian banking sector has financed $34 trillion rials (some $2.8 billion) worth of gas projects, including two gas pipelines intended to boost exports, the managing director of the National Iranian Gas Company Javad Owji said in an interview with Mehr News. He said the project includes building the sixth national gas pipeline, extended from Ahvaz to Dehgolan, the seventh national gas pipeline, extended from Iranshahr to Pakistan border, establishing 69 gas pressure boosting stations, and supplying natural gas to villages and power plants are the projects.

RWE Dea completes seismic survey in Turkmen sector of Caspian Sea

RWE Dea has successfully completed its seismic survey off the coast of Turkmenistan after just under four months, the company said. A 3D seismic survey was carried out in this region for the first time.

About 400 square kilometres were acquired within the scope of the seismic survey. As a next step, geologists and geophysicists of RWE Dea in Hamburg will be dealing with the interpretation of the data processed. The region around the Caspian Sea will play an important role in future to secure the European energy supply and is also of immense importance to RWE Dea.

Lukoil discovers gas and condensate field in Southwest Gissar in Uzbekistan

Lukoil Overseas (an operator of international upstream projects of Lukoil) has discovered a new field of gas and condensate on the Southwest Gissar block in Kashkadarya region in southern Uzbekistan, the company said. According to Lukoil Overseas, during exploratory drilling in difficult conditions on steep terrain of Shurdare structure at a depth exceeding 3,000 meters gas-bearing carbonate rocks of the Upper Jurassic age were revealed by the borehole. During testing of the well commercial daily output - up to 650,000 cubic meters of gas and 70 tons of gas condensate were obtained."According to the results of the well test and interpretation of drilling, geological model of Shurdare deposit will be clarified, assessment of its resource base, a decision on the further exploration of prospective land made, and the role of the new field in the industrial development scheme of the Southwest Gissar defined," the statement said.