Major events in Caspian countries' oil and gas industry for week (May 6-11)

Major events in Caspian countries' oil and gas industry for week (May 6-11)

'Open season' process launched within Nabucco West project

'Open season' capacity marketing process is launched within Nabucco West gas pipeline project, Nabucco Gas Pipeline International GmbH reported.

According to the report, the first phase of the 'Open season' process for capacity booking in the Nabucco pipeline offers potential shippers the possibility to register their interest in booking capacity in the pipeline and request access to the 'Open Season' documents.

BP completes work within Chirag oil project in Caspian Sea

The topsides of the new platform have been constructed by 97 percent as part of the Chirag oil project (COP - increase in oil production on the block of "Azeri-Chirag-Guneshli" fields), BP's official report on the activity in Azerbaijan n Jan.-March said.

The jacket for the West Chirag platform sailed away on 14 April 2013. The jacket transportation, launch and installation activities have been carefully planned and are expected to take some 45 days to complete, including allowance for the weather conditions.

"Topsides fabrication at the AMEC-Tekfen-Azfen (ATA) yard is about 97 percent complete with sail-away planned for the third quarter of 2013," the report said.

Croatia's INA withdraws from developing Iranian oil block

Croatian oil and gas company INA has withdrawn from a project for developing an oil block in Iran, the Mehr News Agency reported.

In April 2008, INA signed a deal, worth $141 million, for exploration of the Moghan-2 block with the National Iranian Oil Company (NIOC).

The primary purpose of the project was to discover new hydrocarbon reserves through a contract on provision of services with the NIOC.

But, the Croatian company left the project due to some problems related to foreign currency exchange, the report added.

Iran finds new gas field

Iran has discovered a new gas field with around 260 billion cubic feet (bcf) of in-situ reserve, the Fars News Agency quoted National Iranian Oil Company managing director Ahmad Qalebani as saying. The gas field is located in the western province of Ilam.

The recoverable reserve of the gas field is estimated to be 175 bcf, Qalebani said.

Max Petroleum starts drilling another well in Kazakh Zhana Makat Field

Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan started drilling ZMA-E6 development well in 'Zhana Makat' field on Block E.

The total vertical depth of the well will be approximately 900 meters targeting Jurassic reservoirs.

China to supply drilling rigs to Turkmenistan

Turkmen State Concern Turkmengas plans to sign a contract with Chinese firm Lanzhou LS-National Oilwell Petrolium Engineering Co. Ltd within the Galkinish gas field development, the recently published decree of the Turkmen President said.

The decree provides for the purchase of five ZJ70DBS drilling rigs, required for work on the production wells. The company will also undertake installation and commissioning works on the aforementioned installations as well as personnel training.

Trunk pipeline transport law adopted in Turkmenistan

The Majlis (Parliament) of Turkmenistan approved and unanimously adopted a draft law 'On trunk pipeline transport' at its regular meeting of the fourth convocation, the Turkmen government reported.

According to the report, the new law establishes a legal and organised basis for the functioning of trunk pipeline transport.

According to the report, the country's parliamentarians believe the adoption of this document is aimed at ensuring the safety and security of trunk pipelines at all stages of their construction and operation.

In general, the new law will allow the conducting of state regulation in the domestic oil and gas market and hydrocarbon exports, as well as monitoring oil and gas supply and consumption.

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