Major events in Caspian countries' oil and gas industry for last week (Dec. 16-20)

BP announces final investment decision on Shah Deniz-2 project

The consortium for the development of Azerbaijani Shah Deniz gas condensate field announced the signing of a Final Investment Decision on the second phase of the field's development. The Shah Deniz-2 project authorization means the transition of the project from the concept into an immediate implementation stage.

TAP confirms adoption of resolution on construction of pipeline

TAP confirmed adoption of the resolution on construction of the Trans Adriatic Pipeline (TAP) following the announcement of the Shah Deniz Consortium that it made the Final Investment Decision on the Shah Deniz Stage II project, according to the project's message.

The Trans Adriatic Pipeline's shareholders (SOCAR, Statoil, BP, Fluxys, Total, E.ON and Axpo) confirmed on Dec. 17 that they passed the "Resolution to Construct" within the framework of the development and realization of the Trans Adriatic Pipeline project.

Shah Deniz PSA extended up to 2048, SOCAR and BP increase their stake in project

The State Oil Company of the Azerbaijan Republic and the Shah Deniz partners agreed to extend the Shah Deniz Production Sharing Agreement up to 2048, and the equity of SOCAR and BP (the project's operator) in the project will be increased to 16.7 and 28.8 percent respectively, according to BP's message.

Statoil announces cost of deal on sale of assets in Azerbaijan

Norway's Statoil sold a 10 percent stake in the Shah Deniz project and the South Caucasus gas pipeline to the State Oil Company of Azerbaijan (SOCAR) and British BP for $1.45 billion, according to a message posted on the Statoil website.

The deal will come into force on Jan. 1, 2014, according to the message.

Statoil CEO Helge Lund said that the deal meets Statoil's strategy of optimizing the investment portfolio, according to the message. As a result of the sale of the Statoil's assets in Azerbaijan, SOCAR and BP acquired 6.7 percent and 3.3 percent stakes respectively in the project of development of Shah Deniz gas condensate field and the South Caucasus gas pipeline.

Two major contracts signed as part of Shah Deniz-2

Two major contracts were signed with Tekfen-Azfen and AMEC-Tekfen-Azfen (ATA) consortiums for conducting construction works as part of the second stage of development of the Shah Deniz gas condensate field, according to a message from BP Azerbaijan. The value of the first contract is $998 million, and the value of the second contract is $974 million.

The work under first contract is to commence in January 2014 with completion expected in 2018. In particular, the scope of work for this contract includes construction of the main gas and condensate processing facilities at the Sangachal terminal, gas, condensate and MEG pipeline installation from the offshore pipeline beach landing site to the terminal facilities and brownfield works in the existing Sangachal Terminal.

The second contract is for the fabrication, load out and offshore hook-up and commissioning of the topsides units of the two Stage 2 platforms - Production and Risers platform (SDB-PR) and Quarters and Utilities platform (SDB-QU).

SOCAR acquires 66 percent stake in Greece's gas transmission network operator

The State Oil Company of Azerbaijan Republic (SOCAR) signed agreements with Hellenic Republic Asset Development Fund (HRADF) and the "Petroleum" company on acquiring a 66 percent stake in DESFA (Greece's gas transmission network operator).

Following the international tender, earlier announced by HRADF, the parties signed agreement on purchase and sale of stakes and an agreement on shareholders.

The signed documents will come into force following their approval by the director generals of the European Commission on Energy and Antimonopoly Policy, according to the message.

Natanz incident not to hamper Iran's efforts to revive JCPOA - former MP
Natanz incident not to hamper Iran's efforts to revive JCPOA - former MP
All sanctions against Iran should be lifted unconditionally, Russia says
All sanctions against Iran should be lifted unconditionally, Russia says
Moscow, Tehran attach great importance to North-South Corridor – Russian FM
Moscow, Tehran attach great importance to North-South Corridor – Russian FM
Loading Bars
Latest
Volume of cargo exported by Azerbaijan via sea in 2021 disclosed
Raisina dialogue: Indo-Pacific epicentre of strategic competition, says Australia PM
Azerbaijan records sharp increase in cargo movement by air
Remittance inflows from Azerbaijan to Georgia show growth
Decrease in apartment prices in Georgia not expected - analyst
US investors aim to finance Georgian startups
Azerbaijan expanding network of seismic stations (PHOTO)
Turkmenistan prioritizes promotion of domestic goods to world markets
Kazakhstan boosts trade with Tajikistan despite COVID-19
Azerbaijan shows footage from Memer village of Gubadli district (PHOTO/VIDEO)
Nominal income of Azerbaijani population drops for Q12021
Foreigners show interest in making investments in Georgia
Azerbaijan's Azertutun company to be privatized - decree
Kazakhstan to amend rules for use of unmanned aircraft systems
Dozens of vehicles to be put up for state property auction in Azerbaijan
FAO working on approving Country Program Framing with Turkmenistan
U.S. housing starts increase more than expected in March
Photo capturing reaction to relative's death in Armenian attack on Azerbaijani Ganja named ‘Media Photo of Year’ in Turkey
Nokia expanding its activities in Georgia
SIEMENS AG modernizing thermal power plants in Uzbekistan’s Tashkent
Georgia shares data on dried fruit exports
Uzbekneftegaz JSC implementing modernization of unit at Uzbekistan's Shurtan Headings
Azerbaijan sees increase in inflation rate for Q12021
Turkmenistan leads in aviation oil exports to Georgia
Volume of Azerbaijan's 1Q2021 railway cargo traffic revealed
Russia's Yandex to launch e-grocery delivery in Paris then London
Kansas City revenue falls 3.5% as COVID-19 hits volumes
India To Spend $200 Million In Next 5-7 Years To Promote Hydrogen Use
Georgian Railway plans to issue Eurobonds in June 2021
Turkmenistan sees increase in number of registered business entities
Russian Hevel Energy Group commissions solar plant in Kazakhstan
UK PM Boris Johnson To Finalise "Roadmap 2030" With India: High Commission
India, France sign agreement for cooperation on Gaganyaan mission
Amazon announces $250 million fund for small, medium businesses in India
Sputnik V covid vaccine deliveries to India to begin this month
Anglo Asian Mining lowers gold output in Azerbaijan
International airport being built in Uzbekistan's Samarkand
Iran top OPEC oil producer for March 2021
Total assets of Azerbaijan's Kapital Bank increase
Japan provides loan to Uzbekistan within socio-economic dev't
Iran expects increase in production
Azerbaijan restoring roads in Tartar damaged during Second Karabakh War (PHOTO)
Memorandum of Understanding on co-op between Azerbaijan and OIC in field of statistics approved
COVID-19 affects trade turnover between Switzerland, Azerbaijan - ambassador
President of Afghanistan holds meeting with Nizami Ganjavi International Center (PHOTO)
Volume of natural gas industrial treatment at Turkmenistan’s Galkynysh field revealed
Iran has to take advantage of regional markets - Chamber of Commerce
Russia discloses volume of Sputnik V vaccine to be supplied to Azerbaijan
Azerbaijan shares data on cancelled tender, quotation poll results
Iran, Qatar may connect their power networks
Azerbaijan reveals 2M2021 data on cargo movement via TRACECA
Georgia sees increase in production of nuts and grapes
Meetings held in Azerbaijan with representatives of state bodies to switch to G-Cloud
Azerbaijan Airlines’ Supervisory Board holds first meeting (PHOTO)
China to invest in development of Iranian ports
Production of wheat and potato in Georgia increases
Switzerland sees potential in strengthening co-op with Azerbaijan in energy field
Uzbekistan interested in import of livestock from Kyrgyz Republic
Turkmenistan receives new industrial oil inflow
Uzbekistan discloses processing capacity of sunflower seeds by 2022
Azerbaijan talks reconstruction of several fish farms
VTB Group concludes deal for acquisition of Kazakhstan's KAZ Minerals
SOCAR boosts exports of oil, petrochemical and gas-chemical products
State Tax Service of Azerbaijan talks tax fees for online services
Passenger transportation indicators plummet in Kazakhstan
Azerbaijan's 1Q2021 GDP slightly decreases
Azerbaijani president, first lady view renovation, restoration work in Baku's Pirshaghi settlement (PHOTO)
Azerbaijan’s gas exports see 45% growth
Azerbaijan boosts gas exports via Baku-Tbilisi-Erzurum in 1Q2021
Azerbaijan records surplus in 1Q2021 state budget
Azerbaijan decreases oil exports via BTC
SOCAR increases gas output y-o-y
Uzbekistan to invest in viticulture dev't
Kazakhstan’s national postal service operator to buy consumables via tender
Uzbekistan continues ramping up flour, cereal exports
Mine explosion in Azerbaijan takes life of one more serviceman
Uzbekistan, Russia implementing numerous joint projects
Georgia reports 1,077 new cases of coronavirus for April 16
New Delhi a natural partner in shaping Indo-Pacific region: Australian PM Scott Morrison
Economist Intelligence Unit calculates 13 per cent growth for India, more than IMF prediction
Kazakhstan boosts exports to Russia over 2M2021
French Bouygues carries out construction of two new facilities in Turkmenistan
Azerbaijan's ADIF shares data on compensations paid to depositors of closed banks'
No point in discussing Nagorno-Karabakh problem in previous context - Russian expert
2021 to see over 3% increase in global gas demand
Georgia sees increase in hotel price index for March 2021
Kazakhstan unveils timeframe for large-scale crops sowing
Kazakhstan shares vehicle production data
Prices for precious metals up in Azerbaijan
Turkmenistan signs number of documents with international organizations
EBRD to invest in another project in Azerbaijan
National Bank of Georgia sells funds to stabilize lari exchange rate
Azerbaijan sees growth in retail turnover of ICT products from early 2021
IMF eyeing support to Kazakhstan's cybersecurity and risk management sectors
Iran - P5+1 on right track in Vienna talks - Deputy FM
Italian Senate delegation visits Azerbaijan's liberated Aghdam (PHOTO)
Islamic Solidarity Games-2021 may be postponed - Federation's Executive Committee
Azerbaijan’s pipeline gas deliveries set to increase by over 15%
1Q2021 volume of sold food products in Azerbaijan's trade network up
Denmark speeds up reopening as epidemic stabilises
All news