Major events in Caspian countries' oil and gas industry for last week (August 27-30)

EIA: Proven and projected Caspian Sea oil reserves estimated at over 48 billion barrels

The proven and projected oil and condensate reserves of Azerbaijan are 8.5 billion barrels, a report posted on the website of the U.S. Energy Information Administration (EIA) said. In particular, some 6.8 billion barrels out of the total volume of proven and projected reserves account for the platforms on the Caspian Sea, and the rest on land. According to the EIA, Azerbaijan's proven and explored gas reserves totalled 1.46 trillion cubic meters and out of these, more than 1.3 trillion cubic meters of gas account for marine structures. In total the proven and projected reserves of the Caspian Basin (Azerbaijan, Kazakhstan, Russia, Turkmenistan, Uzbekistan and Iran) are estimated at 48.2 billion barrels of oil and over 8.3 trillion cubic meters of gas, the EIA said.

Azerbaijan's State Oil Fund starts funding of new project

The State Oil Fund of Azerbaijan (SOFAZ) has already invested about 70 million manats in the construction of a new generation floating drilling rig in Azerbaijan, SOFAZ head Shahmar Movsumov said. Some 388.575 million manats are envisaged to be allocated from SOFAZ under this project. "These are not allocations but the process of financing, that is the money does not go, but remain in the Fund's portfolio," Movsumov noted. According to SOFAZ head, the Fund will be the co-owner of the new drilling rig, which will be operated by Caspian Drilling Company (CDC, 92.44 percent of share in capital is owned by SOCAR).

Iran's oil minister Zanganeh signs his first contract

Iran's Petropars Company has signed a contract, valued at $5 billion, with the National Iranian Oil Company (NIOC), to implement the development project of the phase 11 of the country's South Pars gas field, the Mehr News Agency reported.

Two wells in Zhambyl area in Kazakhstan show signs of oil and gas

JSC NC KazMunaiGas and the Korean KC KAZAKH B.V consortium reported on the results of drilling of the first exploration well in Zhambyl area in the Kazakh sector of the Caspian Sea. During the testing of these objects, there was a gushing flow of oil and gas with flow rates at fittings with diameters of 6.35 mm (16/64 ") 24m3/a day, with a diameter of 12.7 mm (32/64") - 110 m3 per day," the press release said. The testing of sites has been concluded. Drilling of an exploration well at Zhambyl structure was conducted from the new offshore drilling rig 'Caspian Explorer', built specifically for geological exploration works in the Zhambyl area in accordance with the agreement between the KazMunaiGaz and the KC KAZAKH B.V.

Turkmen parliament passes hydrocarbon gas supply bill

During the next meeting of the Turkmen Majlis (Parliament) of the fourth convocation a bill 'On hydrocarbon gas and gas supply' was passed, a Turkmen government statement reported. The provisions of the new law are aimed at creating the conditions for the effective functioning of the gas market and the reliable and safe operation of gas supply systems.

Turkmenistan offers business opportunities for Switzerland in number of fields
Turkmenistan offers business opportunities for Switzerland in number of fields
Iran assigns more funds to complete unfinished projects
Iran assigns more funds to complete unfinished projects
Azerbaijan’s startup sector expects big investments
Azerbaijan’s startup sector expects big investments
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Azerbaijan confirms 1,259 more COVID-19 recoveries
Bahar Azadi gold coin price again falling in Iran
Azerbaijan discloses data on destroyed houses in liberated Fuzuli district
Baku Media Center prepares video covering Armenian vandalism on occupied territories of Azerbaijan (VIDEO)
Russian president hopes for participation of int’l organizations in Karabakh conflict settlement
Power abuse by major states prevents resolving conflicts - Russian FM
Uzbek-Korean JV to buy electrical products via tender
Turkmenistan offers business opportunities for Switzerland in number of fields
North-South Corridor - on Iran's agenda - Minister of Roads and Urban Development of Iran
Turkish, Russian military personnel to jointly patrol in Nagorno-Karabakh - Turkish MoD
Azerbaijan shows footage from Abdal, Gulabli villages of Aghdam district (VIDEO)
Egyptian air operator enters Uzbek market
Uzbekistan to introduce changes to electricity payments in 2021
Iran assigns more funds to complete unfinished projects
Turkmenistan's Turkmennebit opens tender for purchase of equipment
Azerbaijan’s startup sector expects big investments
Iran's ten-month import of steel from Turkey drops
Tesla set to breach $500 billion in market value
State budget for 2021-2023 approved in Kazakhstan following amendments introduction
Kazakhstan's bitumen output exceeds 2020 plan as maintenance works held country-wide
Port of Baku reveals total 10M2020 cargo shipments
New railway vehicles put into operation in Iran
Iran`s Zarif to visit Moscow and Baku despite postponement
Kazakhstan looking to double renewables share in electricity production
Iran continues to cut reliance on oil revenue
Volume of container transshipment between Kazakh, Azerbaijani ports almost triples
LUKOIL refusing plans to construct giant petrochemical complexes
Iran, Qatar sign an extensive Memorandum of Understanding to facilitate cooperation
Switzerland names main trade statistics with Turkmenistan
Dry cargo transshipments through Baku port grow in 10M2020
LUKOIL says reducing oil exports to Europe is inevitable
Georgia receives new buses of modern standards
Georgian hazelnuts exports up
Georgia sees increase in export of tangerines
Ryanair wants to be 'at front of queue' for new 737 MAX order
Azercell’s Mobile Eye Clinic joins campaign for IDPs initiated by the UN (PHOTO)
El Al to launch Tel Aviv - Dubai flights next month
Kazakhstan’s third-quarter economic performance benefits from recovery of oil prices
Azerbaijan informs UNESCO, ISESCO about results of initial monitorings on liberated areas
Turkmenistan’s private sector participates in dev't of poultry farming
Iran discloses plan on creation of new jobs in Yazd Province
Destroyed Armenian positions firing at Azerbaijani army during recent hostilities shown (PHOTOS)
Central Bank of Azerbaijan discloses data from foreign exchange auction
CBI announces Iran's external debt
Azerbaijan starts to grow bananas - Azerbaijani Ministry of Agriculture
Azerbaijani servicemen help Armenians to move belongings from villages of Aghdam district (VIDEO)
PAYSIS expanding range of innovative services in Azerbaijan
Iran reveals COVID-19 data for November 24
E-Space reveals volume of EVs registered in Georgia
Azerbaijan discloses volume of tobacco harvested this season
Russian insurance agency to fund Uzbekistan’s hydrocarbon raw materials production
Iran to boost apple production
Georgia reveals volume of exported apples
Income of Chinese contractor of infrastructural projects in Georgia up
We were able to get necessary international support in key issue for us - President Aliyev
LUKOIL says $40/bbl is worst case scenario for oil prices
If we had not created necessary legal framework for resolving conflict, we could have faced problems today - President Aliyev
Iran registers order at COVAX to buy vaccine
Air traffic reduces in Georgia - EUROCONTROL
Second asphalt layer of Ashgabat-Turkmenabat highway being laid
Russian Export Center discloses value of support for exports to Azerbaijan
Azerbaijan's import of limestone, cement down in 10M2020
Aghdam operation was part of our plans - President Aliyev
Kocharyan and Sargsyan, you have knelt before us - President of Azerbaijan
We will restore the city of Aghdam - President of Azerbaijan
No-one should worry, especially leaders of Western countries - President Aliyev
Pashinyan imprisoning captures all opposition, West remains silent - President Aliyev
Many times when I was on line of contact, in trenches, I thought that one day we would return - President of Azerbaijan
I said, Pashinyan, you personally must give us a timetable, you must do it yourself - President Aliyev
We have destroyed enemy in hand-to-hand battle, crossing ravines, forests, mountains, and liberated Shusha - President Aliyev
Precious metal prices in Azerbaijan down
Victory on battlefield made it possible to liberate Aghdam district without a single shot - President of Azerbaijan
Today, many developed countries studying our experience - President of Azerbaijan
Some int'l organizations did not want to reveal identity of occupier in documents adopted - President Aliyev
We do not depend on anyone, do not depend on any country, on any int'l financial institution - President Aliyev
New gas condensate storage facilities to be launched in Iran's Asaluyeh County
Uzbekistan’s largest import of wood products falls on Russia
Uzbekistan eyes importing electricity from Turkmenistan, Kazakhstan
Uzbek-Korean JV to buy spare parts for analyzer via tender
Azerbaijan indicts Armenian ex-defense minister on another article
To those questioning support for Azerbaijan territorial integrity, I suggest they read UNSC resolutions - Former Romanian FM
Turkmenistan considering possibility of growing pistachios
EBRD provides Azerbaijan with loan to improve environment in Ganja
Georgia reports 3,128 new coronavirus cases
Uzbekistan’s gov’t ready to back Ipoteka-Bank
UNICEF contributes to dev't of Turkmenistan's action plan for its national strategy
Israel's Netanyahu says will visit Bahrain soon
Iran reveals data on new enterprises in Hamadan province
President Aliyev presents Holy Quran he brought from Mecca to Aghdam mosque
Turkmenistan implements advanced technologies in oil, gas industry
Profit of Georgian banking system up
Raw sulfur output volumes drop in Kazakhstan
TOBB reveals total capital of Iranian companies registered in Turkey
Investments in Iran’s Hormozgan Province spike
Zenith Energy transporting drilling rigs outside of Azerbaijan
Azerbaijani oil prices grow
Georgia reveals volume of assets of State Pension Fund
Uzbekneftegaz, Gazprombank in talks over financing of hydrocarbon production in Uzbekistan
Iran's exports via customs of Astara County increases
Uzbekistan reduces import of Turkish electrical goods in October
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