Major events in caspian countries' oil and gas industry for week (April 22-26)
Azerbaijani Academy of Sciences presents seismic tomography project at Azeri-Chirag-Guneshli field
The Republican Seismological Center under the Azerbaijani National Academy of Sciences presented a seismic tomography project at "Azeri-Chirag-Guneshli" field to BP Azerbaijan. The work is planned to be held on the block, will determine the impact of earthquakes on the position of seams, cracks, offsets, as well as their impact on the structure of the fields. This method has been applied for the first time.
Trilateral contract signed to drill Iran's Yaran oilfield
National Iranian Drilling Company (NIDC), Petroleum Engineering & Development Company (PEDEC) and National Iranian Oil Company (NIOC) signed a trilateral contract for drilling the Yaran oilfield well. Based on the agreement, NIDC will drill 22 development wells in 15 months.
According to Hamidreza Golpayegani, the managing director of NIDC, 11 drilling rigs will be active in the field.
Iran to issue $20 billion worth of bonds
The Iranian parliament (Majlis) has approved the issuing of $20 billion in bonds to finance oil and gas projects in the current Iranian calendar year which began on March 21, the Fars News Agency reported.
The Iranian Oil Ministry and the Central Bank have each been authorised to issue $10 billion worth of bonds. A priority for investment will be attached to joint oil and gas fields.
Schedule of Kashagan field development may be postponed in Kazakhstan
The schedule of Kashagan oil field development in the Kazakh sector of the Caspian Sea may be postponed, Kazakh Minister of Economy and Budget Planning Yerbolat Dossayev said at a government meeting. "It is necessary for the Oil and Gas Ministry to examine the possibility of increasing the oil production volume in other fields to ensure the production level in the planned volumes taking into account the possible postponement of launching Kashagan field development," Dossayev said. It should be stressed it was planned to launch the commercial production at "Kashagan" field in June 2013. Meanwhile, Oil and Gas Minister Sauat Mynbayev told media after the government meeting that launching of "Kashagan" field development may be postponed for this autumn. If the field development is launched late, the consortium will incur expenses not to be reimbursed by Kazakhstan in accordance with the contract of 2008.
Kazakhstan to limit import of oil products from Russia
The Kazakh government has adopted a resolution on petrol import limits from Russia, Kazakh Oil and Gas Minister Sauat Mynbayev said. "A resolution on limits on petrol imports from Russia was adopted," he said. "The period of limitation depends on the market situation. But now it is possible to regulate the market."
It was previously reported that Kazakhstan considers it possible to limit the supply of oil products from Russia. Oil and Gas Minister Sauat Mynbayev said that if the restrictions are not imposed, Kazakhstan will literally be overwhelmed by Russian oil products this year.
National operator for crude oil export to be created in Kazakhstan
"Rompetrol Group" - "Vector Energy" trading subsidiary, registered in Switzerland, completes the integration of all oil marketing operations within the Kazakh oil and gas company "KazMunaiGas" and will be renamed into "KazMunaiGas Trading AG", "KazMunaiGas" said. It is planned that the company will become the only national operator exporting Kazakh crude oil. "KazMunaiGas Trading AG" will be responsible for selling crude oil and oil products and developing the logistics assets required to meet its own needs and develop the trading operations and entering the new markets," a statement said.
Cyprus to supply special equipment to Turkmenoil
The Turkmennebit State Concern (Turkmenoil) plans to conclude a contract with Cypriot company I.C. Intercomplect Limited for the purchase of special equipment, a decree of the President of Turkmenistan says. According to the decree, it concerns the purchase of four mobile units for exploration and development of oil and gas condensate fields as well as Chandler PVT 3000 GL laboratory equipment for the analysis of fluid flow. The contract also provides for the execution of commissioning of the above-mentioned mobile systems and laboratory equipment as well as the training of specialists.