Major events in Caspian countries' oil and gas industry for last week (Sept. 9-14)

Major events in Caspian countries' oil and gas industry for last week (Sept. 9-14)

3D-seismic exploration started at large field in Azerbaijani sector of Caspian Sea

High quality 3D seismic exploration works have been initiated at the Azeri-Chirag-Guneshli block of oil and gas fields in the Azerbaijani sector of the Caspian sea, a source in the oil and gas market said.

According to the interlocutor, the 3D seismic exploration works will be in particular carried out at the Chirag field and deep-water part of the Guneshli field.

New production platform topsides in Caspian Sea sailed away by Azerbaijan

The topsides and drilling equipment of a new platform of "Chirag oil project" (an increase of oil production at Azerbaijani Azeri-Chirag-Guneshli oil field block) were sailed away on September 12 morning, a source in the oil-gas market said.

Chinese, South Korean firms to participate in Iran's $1.5 billion oil project

Chinese oil company, Sinopec, and a South Korean company have finalized a deal with Iran to participate in a plan, worth $1.5 billion, to revamp Iran's Esfahan Oil Refinery, the Mehr News Agency reported.

The plan is aimed to boost the refinery's gasoline and diesel fuel production capacity.

The two sides have been also negotiating for launching other project in Abadan refinery, as well.

Kazakh Parliament's lower chamber approve agreement on Kazakhstan-China pipeline

Kazakh Majilis (Parliament's lower chamber) has approved a draft project concerning the intergovernmental agreement on the Kazakhstan-China pipeline at a plenary session on Wednesday, Majilis press service reported.

According to the document, the tariff for the transportation of exporting Kazakh oil is the same regardless of the point of oil entry into the pipeline. The longitude route is not taken into consideration while calculating a tariff. Moreover the tariff for the oil supply to Kazakh market should not exceed the tariff for oil exports.

First oil extracted at Kashagan field in Kazakhstan

The North Caspian Operating Company - the operator of the North Caspian Project has produced the first barrels of oil at the Kashagan field in the North Caspian Sea, the press service of the consortium said.

"The North Caspian Operating Company B.V. announced on behalf of the Consortium within the framework of the production sharing agreement on Northern Caspian Sea, that the first well at Kashagan was re-opened and the initial volumes of oil were produced," the consortium's report said.

Turkmenistan, Japan sign memorandum of understanding on energy cooperation

A memorandum of understanding was signed between Turkmengaz State Concern and the Japan Oil, Gas and Metals National Corporation in Tokyo within Turkmen President Gurbanguly Berdimuhamedov's official visit to Japan, the Turkmen government said.

"It is planned to sign a package of documents related to the construction of some large enterprises in Turkmenistan with the participation of Japanese companies," Berdimuhamedov said at a meeting with Japanese Prime Minister Shinzo Abe before the memorandum signing ceremony. The total value of projects exceeds $ 10 billion."

Uzbekistan, China to build fourth branch of gas pipeline to China

Uzbekistan and China will build the fourth branch of the Uzbekistan-China gas pipeline with a capacity of 30 billion cubic meters of gas per year, a statement of the National Information Agency of Uzbekistan (UzA) said.

The corresponding protocol to the Agreement on the principles of construction and operation of the gas pipeline was signed during a visit of the Chinese President Xi Jinping to Uzbekistan.

The details and terms of the project's implementation have not been yet specified.

IFC talks on projects implemented in Georgia
IFC talks on projects implemented in Georgia
Weekly review of Georgian capital markets
Weekly review of Georgian capital markets
Turkey increases exports of citrus fruit to Georgia
Turkey increases exports of citrus fruit to Georgia
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