Major events in Caspian countries' oil and gas industry for last week (Nov. 25-29)

Analysis Materials 4 December 2013 11:42 (UTC +04:00)

Minister: Iran in talks with western energy firms

Iranian Oil Minister Bijan Namdar Zanganeh says the Islamic Republic has begun talks with leading Western energy companies to attract them back to the country, Press TV reported.

In an interview with the Financial Times, Zanganeh said the Iranian Oil Ministry is in talks with European energy firms and "indirectly" with US groups to invite them back to Iran in case of a possible removal of US-led illegal sanctions against Iran's energy sector.

The Iranian minister further said the energy companies such as France's Total, Royal Dutch Shell, Italy's Eni and Norway's Statoil are among those he is seeking to bring back to Iran's energy sector, according to the report.

Media: Pipes at Kashagan field to be sent for examination

Pipes at Kazakhstan's Kashagan field where a gas leak was detected have been replaced and sent for examination, the official Kazakhstan media outlet reported.

"Currently preparations are being carried out for examination of the pipeline with a special robotic device. The parts where the leaks were detected have been replaced and sent for examination to find the fault," the media outlet reported.

There were artificial islands created at the Kashagan field in the Caspian Sea where wells were drilled. The islands are connected to the land-based Bolashak facility for preparation of oil and gas by pipelines.

However, gas leaks were detected in late September and early October in the land-based section of the gas pipeline two kilometres from the Bolashak plant, and oil production was suspended.

Turkmenistan signs major oil refinery contracts

A number of major oil refinery projects are being implemented in Turkmenistan by foreign companies, the Ministry of Petroleum and Mineral Resources of Turkmenistan said.

Total investment in the following sites will amount to $800 million.

In particular, a complex of a delayed coking unit (DCU) with a deasphalting unit with a capacity of 900,000 and 500,000 tons a year respectively is being constructed with the participation of the Turkish Lotus Company.

Construction of a unit for primary refining with the capacity of three million tons is being carried out by Alliance Engineering and Construction B.V. Company (Netherlands).
Wesport Trading Europe Limited (USA) has started construction of a unit for production of road bitumen with a capacity of 38,000 tons per year from refinery residues at the Seidi refinery.

According to the statement, commissioning of these units is scheduled for late 2014.
In addition, a consortium of companies LG Internation Corp and Hyundai Engineering Co. LTD (South Korea) is building a complex that includes a vacuum unit, as well as isomerization, alkylation and gasoline blending units.