Major events in Caspian countries' oil and gas industry for last week (april 13-17)

New well within largest gas project drilled in Azerbaijan

Drilling operations of the well SDD-04 within the framework of the pre-drilling on the second stage of development of gas condensate field Shah Deniz in the Azerbaijani sector of the Caspian Sea have started, a source on the oil and gas market of Azerbaijan said.

The operator of the Shah Deniz is British oil company BP.

"Drilling of the well is carried out from the platform Heydar Aliyev," said the source. "The project depth of SDD-04 is about 6,300 meters."

Seven wells have been drilled within the framework of pre-drilling on the project Shah Deniz-2, and the number will reach nine after completion of work on SDC-04 and SDD-04.

New oil contracts expected to be signed in Kazakhstan

New subsoil use contracts are expected to be signed in Kazakhstan in 2015, the country's Energy Ministry said.
"Kazakhstan's government adopted a decree 'On signing a contract for combined exploration and production at Abay and Isatay sites located in the Kazakh sector of the Caspian Sea' in 2015," said the ministry.
The country's Energy Ministry said that currently, it is considering the draft subsoil use contract on the Isatay site, adding that however, it hasn't received the draft contract on Abay site.
Abay block is located in Kazakh sector of the Caspian Sea, in 60-70 kilometers to north-west from the coast of the Buzachi peninsula. The sea depth at the block is 8-10 meters. The geological reserve of hydrocarbons at Abay block is estimated at 337 million metric tons of oil equivalent.

Seoul to build liquid fuel production plant in Turkmenistan

Turkmengaz State Concern concluded a framework agreement with a consortium of South Korean companies as part of LG and Hyundai. The agreement concerns the construction of the plant for the production of synthetic liquid fuel through natural gas processing in Turkmenistan, the government of Turkmenistan said. The subject of the contract is the design, equipment procurement and construction of this plant, the statement said.

A framework deal was struck as part of Turkmen President Gurbanguly Berdimuhamedov's visit to South Korea.

According to the South Korean media, the project cost is estimated at more than $ 3.8 billion.

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