Major events in Caspian countries' oil and gas industry for last week (Jan. 13-17)
UK PD&MS Energy secures contract for Caspian engineering
UK-based engineering consultancy PD&MS Energy has secured a major engineering contract with BP, PD&MS Energy reported on its official website.
The three-year contract will see the Aberdeen-based business provide platform engineering services and upgrades for BP-operated projects in the Azerbaijan- Georgia-Turkey region with the options to extend the contract by an additional five years.
SOCAR strengthens its position in Romanian market
The State Oil Company of Azerbaijan Republic (SOCAR) purchased the remaining 10 percent in SOCAR Petroleum SA from the Romanian shareholders, SOCAR Petroleum reported.
SOCAR will increase the share capital of its Romanian unit SOCAR Petroleum by 35 million euros in order to support the company's development policy, the report said.
President: Kazakhstan intends to conduct active exploration operations through world companies
Kazakhstan is to examine ways of attracting world companies through simplifying the legislation, Kazakh President Nursultan Nazarbayev said in his annual address to the Kazkakh people in Parliament.
"Kazakhstan should enter the world market in the field of geological exploration. Our subsoil has not yet been explored as much as it should. What we have is superficial. Projections show that the total reserves of wealth in the subsoil of Kazakhstan are several times more than we have today," the president said.
The president stressed the need to attract investment in geological exploration. The head of state tasked the government to simplify the legislation in order to bring world exploration companies to the process.
Vietnamese company starts geological exploration at new block in Uzbekistan
Vietnamese Petrovietnam Exploration & Production (PVEP) embarked on implementation of a geological exploration work program at the Molabaursk investment block of Ustyurt region (north-western Uzbekistan), representative of Kossor Operating Company LLC (operator of PVEP projects in Uzbekistan) said.
A tender has been announced today for 2D seismic data processing, according to the company representative. The tender results will be announced in March, and the entire volume of seismic work will be held by late 2014.
The company representative didn't specify the volume of seismic exploration work planned to be carried out at Molabaursk investment block.
Russia intends to consolidate deliveries of Turkmen oil through Makhachkala
Russia intends to consolidate the deliveries of Turkmen oil through Makhachkala, Transneft, which operates in the field of oil and oil products transportation through the main pipelines of Russia, said.
Transneft held talks with Trafigura company, which offered to undertake the consolidation of all Turkmen supplies in this direction," President of Transneft Nikolay Tokarev said.
It was reported earlier that the first tanker with Turkmen oil arrived in the Russian port of Makhachkala in summer 2013 for further re-export of raw materials by Makhachkala-Novorossiysk pipeline.
It was also reported that the Makhachkala port requires extensive reconstruction for receiving additional volumes of Turkmen oil. Now the maximum carrying capacity of tankers in Makhachkala is 10,000 tons. The existing oil storage capacity of the port, as well as the lack of depth does not allow unloading large ships.