Major events in Caspian countries' oil and gas industry for last week (may 12 – 16)

Analysis Materials 19 May 2014 17:19 (UTC +04:00)

SOCAR starts drilling appraisal well on one of structures in Caspian Sea

The State Oil Company of Azerbaijan (SOCAR) has started exploratory drilling at offshore "Agburun-Deniz" structure in the Azerbaijani sector of the Caspian Sea.
Drilling operations in the south-west wing of the structure aims to study the stratigraphy, lithology and oil and gas-bearing levels in the area, the company said.
The projected depth of the well is 1,250 meters. "Agburun Deniz" structure is located six kilometers south from the "West Absheron" field.

New discovery in Kazakh Rozhkovskoye field

Kazakh KazMunaiGas Exploration Production Joint Stock Company announced a new discovery in the Bashkirian tier's sediments of the Carboniferous period in the Rozhkovskoye field.

"Inflow of light dry crude oil and gas with maximum flow rates of 1,900 barrels of oil equivalent per day and 6 million cubic feet per day, respectively, with 24/64" (9.5 millimeters) choke, was produced while carrying out tests in reservoirs of the Bashkirian period at the U-24 well drilled in 2013 in the north-east wing of the field. Previous exploration at this part of the field targeted hydrocarbons in the Bobrikovskiy and Tournaisian horizons," the company said.

Ural Group Limited is exploring the Rozhkovskoye field, and holds a 100 percent stake in Ural Oil and Gas LLP which owns the exploration license for the Fyodorovskiy block in the Zelenovsk district of Western Kazakhstan, 70 kilometers east of the city of Uralsk.

Japan's Toyo awarded $800 mln contract in Turkmenistan

Japanese Toyo Engineering Corporation garnered a contract in Turkmenistan for the construction of a large gas chemical complex.
The Toyo Engineering Corporation signed a contract with the State Concern "Turkmengaz" together with the South Korean consortium of Hyundai Engineering Co., Ltd., Hyundai Engineering & Construction Co., Ltd. and LG International Corporation, the company reported.
The total amount of the deal is $3 billion. The contract with the Japanese company is estimated at $800 million.

Completion date of "Southwestern Hissar" field development delayed in Uzbekistan

"Lukoil Uzbekistan Operating Company" LLC (a subsidiary of "Lukoil" in Uzbekistan) will complete the development of the "Southwestern Hissar" field in Uzbekistan in 2016,
according to the materials distributed at the international exhibition "Oil and Gas Uzbekistan- OGU 2014" opened in Tashkent.

"The launch of the main facilities is scheduled for 2016, investment volume will make up $1 billion, the maximum level of gas - 4.8 billion cubic meters per year," the materials said.

Earlier, the launch of the main facilities was scheduled for 2015.

International Oil and Gas Uzbekistan - OGU 2014" exhibition" was organized by the "Uzbekneftegaz" NHC, the Ministry of Foreign Economic Relations, Investments and Trade, the Chamber of Commerce and the ITE Uzbekistan International Exhibition Company.

More than 160 companies from 20 countries presented their expositions at the event this year.