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.

Weekly review of Georgian capital markets
Weekly review of Georgian capital markets
Total volume of non-bank deposits in Georgian banking sector up
Total volume of non-bank deposits in Georgian banking sector up
Georgia's economy focuses on higher value added sectors
Georgia's economy focuses on higher value added sectors
Loading Bars
Кazakh Electricity Grid Operating Company to buy spares via tender
Turkmenistan's Turkmenturba opens tender for purchase of chemical products
Kazakhstan’s Volkovgeology JSC exploring venture opens tender to buy accumulators
JP Morgan expects non-OPEC oil supply to grow in 2022
ITFC announces launching of 2nd phase of Aid for Trade Initiative for Arab States in June 2021 to Mitigate Effects of COVID-19 on Trade in Arab Region
Amount of fee transfers to Azerbaijan's 2020 state budget disclosed
Turkmen spinning mill sends most of its products for export
Iran shares data on steel sheet rates
Azerbaijan to create Karabakh development model - Center for Analysis of Economic Reforms
Uzbekistan reveals COVID-19 data for January 26
Oil shortage unlikely in medium-to-long term
Global oil demand to peak in around 2030
US to reach highest monthly total of wells franked after March 2020
Iran investigating case of seized tanker - Oil Minister
South Korea yet to pay its debt to Iran - Iran-South Korea Joint Chamber of Commerce
Azerbaijan preparing action plan for development of renewable energy sources in Karabakh
Oil drops as U.S. stimulus wrangles, rising COVID-19 cases hit sentiment
Iranian FM discusses impact of FATF related bills issues on economy
Weekly review of Georgian capital markets
Total volume of non-bank deposits in Georgian banking sector up
Chinese mainland reports 69 new locally transmitted COVID-19 cases
China, New Zealand sign upgrading protocol of free trade deal
Italy sends warning letter to Pfizer over COVID vaccine delays
U.S. House delivers Trump impeachment article to Senate
Uzbekistan, India working on bilateral investment treaty
Brazil sees 627 COVID-19 deaths in a day
France registers 445 COVID-19 deaths over past 24 hours, hospitalizations up again
Protest clashes injure 8 in Lebanon's northern city of Tripoli
Kazakhstan improving forecast power sector showings for 2021
Italy says G20 to discuss extension of debt relief for poor countries
Merkel and Biden agree in phone call to strengthen transatlantic cooperation
U.S. Senate votes overwhelmingly to confirm Yellen as first female Treasury chief
Canada's COVID-19 cases surpass 750,000
Number of COVID-2019 cases across globe up by over 514,000 in past day
UN chief calls for developing global economy with universal respect for int'l law
Israel reports 8,664 new COVID-19 cases, 605,397 in total
Body of one person recovered from rubble of destroyed house in Azerbaijan's Khirdalan (PHOTO/VIDEO) (UPDATE)
At least 21 dead, 33 injured in southern Brazil bus accident
Georgia's economy focuses on higher value added sectors
Italy PM Conte to resign on Tuesday, seek fresh mandate
6.5M more doses from China add pace to Turkey's vaccination drive
Flydubai, Air Arabia to resume flights to Georgia
Iran's exports to EEC member states increase
Assistant to Azerbaijani president talks new architecture of regional security in interview to Atlantic Council (VIDEO)
India eyes to study Kyrgyz medicinal plants, create their catalog
Kazakhstan boosts petroleum oils export to EU countries
UK records another 22,195 coronavirus cases, 592 deaths
National Bank of Kazakhstan discloses base rate
Role of innovations in development of digital payments in Azerbaijan during pandemic
PACE welcomed trilateral statement putting end to Second Karabakh war - Secretary General of Council of Europe
Azerbaijani Cabinet of Ministers determines priorities for 2021 upon president’s instructions (PHOTO)
Azerbaijan Gymnastics Federation holds its General Assembly and Executive Committee meeting (PHOTO)
Azerbaijan discloses trade balance in 2021
Georgia reveals volume of exported tangerines
Main index of Tehran Stock exchange gains 1,343 points
Azerbaijan shows footage from Dovletyarli village of Fuzuli district (PHOTO/VIDEO)
Iran capable of reconstructing liberated areas in Azerbaijan's Karabakh - former ambassador
Azerbaijani SOCAR's Turkish affiliate discloses revenue from 2020 export operations
BakuBus LLC transferred to Azerbaijan Investment Holding
Azerbaijan releases info on its citizen killed by pirates off coast of Nigeria
Export of hazelnuts from Azerbaijan to Georgia down
Azerbaijani expert talks transport problem in post-pandemic period
Azerbaijan confirms 273 more COVID-19 recoveries
Azerbaijani, Iranian FMs discuss current regional situation
Iranian Energy Exchange announces products to be on sale on Jan.26
USAID empowers early adopters of digital economy of Turkmenistan
Azerbaijan's heavy industry to reach new level
Uzbekistan Airports officially joins Airport Council International
Uzbekistan, EAEU approve road map for effective co-op in 2021
Kazakhstan boosts petroleum oil exports to Austria despite COVID-19
Kazakhstan restoring crude petroleum exports to Czech Republic
Volume of loans issued by Georgian commercial banks up
Kazakhstan’s largest gas supplying company opens tender for road repairs
Kazakhstan taking measures to develop container transportation by railway and sea
Kazakhstan continues to implement transport projects despite COVID-19 pandemic
Azerbaijan’s Baku Taxi Service opens tender for maintenance and repair of London Taxi
Investments in Azerbaijan's economy to increase - Standard & Poor's
Kazakhstan working on launching ferry service with Turkmenbashi, Makhachkala ports
Uzbekistan to use South Korea’s experience in digital economy dev’t
Azerbaijan planning to export domestic oil for diesel engines to Ukraine
Google workers to form global union alliance
S&P forecasts decrease in unemployment rate in Azerbaijan
Azercell expanded the coverage of the LTE network to more than 85% of the country's territory last year
Iran's exports through Astara customs grow
Relations on two sides of Araz are relations of kinship and friendship - Iranian FM
Azerbaijan shows footage from Kurdler village of Fuzuli district (PHOTO/VIDEO)
Iran’s Bahar Azadi gold coin price continues to rise
Contract to be signed on eleventh phase of Iran's South Pars gas field
Liabilities of Azerbaijani private sector to banks to decrease over next 3 years
Foreign trade turnover of Uzbekistan’s Samarkand region reduced in 2020
Turkish Yilmaden Holding eyeing chromite enrichment launch in East Kazakhstan
Georgia sees decrease in wine export
Production of vehicles in Azerbaijan increases
Hogan Lovells continues to advise Shah Deniz consortium after launch of SGC
Azerbaijan's Unicapital OJSC predicts notable rise in operations with securities for 2021
South Korea allocates additional grant for Uzbekistan to counter spread of COVID-19
Kazakhstan to auction several land plots for hydrocarbons exploration, dev't
Iran’s IOOC continues operations in Sivand and Esfand oil fields
Azerbaijan's AzerGold CJSC reveals 2020 revenues from export of gold, silver
S&P Global Ratings discloses forecast average inflation rate in Azerbaijan until 2024
All news