Major events in Caspian countries' oil and gas industry for last week (Nov. 18-22)

Analysis Materials 26 November 2013 11:00 (UTC +04:00)

Ukraine, Azerbaijan create working group on TANAP project

Ukraine and Azerbaijan have created a working group on Ukraine's participation in the project of construction of Trans-Anatolian Gas Pipeline (TANAP), Ukrainian Energy and Coal Industry Minister, Eduard Stavitskiy said, RBC-Ukraine reported.

"Ukraine's participation in TANAP is being considered ... We have offered both our participation in the investment component, and the participation of our companies in the production of pipes," Stavitskiy said.

EU considers conditions for Trans-Caspian Gas Pipeline agreement as favourable

Representatives of the European Union (EU) have expressed confidence that at this point favourable conditions have been created to conclude an agreement for the construction of the Trans-Caspian Gas Pipeline from Turkmenistan to Azerbaijan.

"The Trans-Caspian pipeline is principal and the European Union (EU) believes there are now the most favourable conditions for reaching agreements and beginning construction," the European Union's Charge d'Affaires ad interim in Turkmenistan, Denis Daniilidis said.

"During the negotiations we need to resolve a few remaining issues and the first pipeline may be built before the completion of the Southern Gas Corridor," he underscored.

According to Daniilidis, the EU and Turkmenistan are in the final stage of negotiations.

SOCAR to stop oil exports from its fields

In 2014, SOCAR (the State Oil Company of Azerbaijan) will direct all of the oil produced at its fields for processing, SOCAR Vice-President for Refining, David Mammadov said.

Currently, part of this oil is exported via the Baku-Novorossiysk pipeline.

According to Mammadov, the increase in processing is due to a significant increase in gasoline consumption in the domestic market. The growth in gasoline consumption this year constituted 10.2 percent.

Only part of the oil produced by joint ventures at onshore fields will be exported.

SOCAR increasing production at large field in Caspian Sea

During an increase of production at the shallow part of the Guneshli field, State Oil Company of Azerbaijan (SOCAR) plans to drill some 20 new wells, SOCAR said.

According to the message, six out of the total number of wells planned for drilling have already been commissioned and currently five are being drilled. Construction and installation work are being carried out for drilling of the remaining wells.

Work at the Guneshli field is carried out within SOCAR's plan for stabilisation and increase of production volumes in 2013-2015 at the fields being developed by the company independently.

Ashgabat hosts Turkmenistan's Oil and Gas exhibition and conference

An international exhibition and conference 'Turkmenistan's Oil and Gas' (OGT-2013) , organised by the Oil and Gas Ministry, the Chamber of Commerce of the country and with the participation of British Summit Trade Events Ltd. has opened in Ashgabat.

The main theme of the conference is 'International cooperation in the oil and gas industry of Turkmenistan: the potential, achievements and priorities'.

Service Agreement for Turkmenistan-India gas pipeline project signed in Ashgabat

A Service Agreement for the Turkmenistan-Afghanistan-Pakistan-India(TAPI) pipeline was signed in Ashgabat , Turkmenistan 's TV Channel reported.

According to the report the agreement was signed with the transactional adviser the Asian Development Bank (ADB), as well as the Turkmengas State Concern, Afghan Gas Corporation, Inter State Gas Systems (private) limited Corporation ( Pakistan ) and Gail Limited Company (India).