Azerbaijani President receives BP Group Chief Executive
President of Azerbaijan Ilham Aliyev has received Group Chief Executive of BP, Robert Dudley.
Robert Dudley briefed the Head of Azerbaijani State on work done on a block of the Azeri-Chirag-Gunashli fields. It was noted that the work on the Shahdeniz field was successfully implemented.
They also discussed the current state of and prospects for cooperation between Azerbaijan and BP.
Shah Deniz Consortium begins evaluating binding transportation offers from Nabucco West and TAP
The Consortium of Azerbaijani Shah Deniz field development has begun evaluating binding transportation offers from Nabucco West and TAP (Trans Adriatic Pipeline) consortia, offering to carry Azerbaijani gas into Europe, the consortium reported.
According to the report, this represents another important milestone in the realisation of the Southern Gas Corridor.
The two consortia, Nabucco Gas Pipeline International and Trans Adriatic Pipeline (TAP), have been in extensive negotiations with the Shah Deniz consortium following delivery of their initial gas transportation offers at the end of March 2013. Those offers have now been approved by their shareholders and have become final and binding, the report said.
According to the report, furthermore, the consortium also received gas sales offers for more than 30 billion cubic metres (bcm) of gas a year from more than 15 different gas buyers across Europe. The gas sales offers will be considered alongside the transportation offers.
Fitch and S&P affirm GOGC's rating of 'BB'
International rating agencies Fitch Ratings and Standard & Poor's have confirmed the rating of 'BB' to Georgian Oil and Gas Corporation (GOGC). As the corporation reported, the COGC's rating was equalised with the sovereign rating of the state which is the highest possible rating for the majority of companies operating in Georgia.
'The rating agencies noted that last year the assets of the corporation increased significantly compared with the previous year. In May 2012, CNGG placed Euro bonds worth $250 million at a rate of 6.875 per cent on the London Stock Exchange.
KazMunaiGas will not buy out ConocoPhillips share in Kashagan
Kazakhstan's National Company KazMunaiGas is not going to buy out the share of ConocoPhillips in the North Caspian project Kashagan, chairman of the JSC National Company KazMunaiGas board Lazzat Kiinov said at a briefing in Astana.
"We already have a sufficient share of 16.8 per cent. We do not want to be a major shareholder in the project," Kiinov said.
The head of KazMunaiGas also confirmed the words of the Minister of Oil and Gas of the Republic of Kazakhstan Sauat Mynbaev that a Chinese company is showing interest in joining the project.
Increase in oil and gas reserves in Kazakh KazMunaiGas totals 5.6 per cent
The increase in reserves of oil and gas condensate in Kazakhstan's national company
KazMunaiGas totalled 5.6 per cent, chairman of the Board of the National Company KazMunaiGas JSC Lyazzat Kiinov said at a press briefing in Astana.
"For the first time after opening the Kashagan field, KazMunaiGas and its strategic partners have recently announced the commercial discovery of oil reserves in two other fields in the Kazakh sector of the Caspian Sea. The increase in proven recoverable reserves under domestic methodology amounted to 98.6 million tons of which 67.6 million tons account for the Kalamkas sea deposit and 31 million tons of oil for the Khazar field. Overall, a growth rate of oil and condensate reserves stood at 5.6 per cent," Kiinov said.
"According to the independent auditing company Gaffney, Cline & Associates, the resource potential of the Kazakh sector of the Caspian Sea is 2.37 billion tons of oil reserves, excluding the North-Caspian project," Kiinov said.
Commercial oil inflow at Caspian shoal in Turkmenistan
A strong commercial oil inflow took place in Turkmenistan from the exploration well number 204 in the shoal of the Caspian North Goturdepe deposit, the Turkmenneft state concern reported.
The depth of the well is 4865 metres and the oil-bearing bed uncovered at a depth of 4815-4834 metres, the report says.