Major events in Caspian countries' oil and gas industry for last week (Oct. 12-16)
SOCAR to get almost 2B manats worth of loan in Azerbaijan
Azerbaijan's state oil company SOCAR will soon receive the first tranche of loan from the International Bank of Azerbaijan (IBA), the company's vice-president for economic issues, Suleyman Gasimov said. He said that the loan will total 1.86 billion Azerbaijani manats.
"Out of the total amount of the loan, 1.26 billion manats will be directed to modernize the oil refinery named after Heydar Aliyev, while 600 million manats will go to drilling at the 'Bulla Deniz' field and at the shallow part of the Gunashli field," said Gasimov.
He said that in this regard there is already a corresponding decision of Azerbaijan's Cabinet of Ministers.
Turkmenistan signs agreement on gas field
Turkmenistan has signed a framework agreement with the consortium of several Japanese companies for developing part of the Galkynysh gas field. The agreement has been signed in order to ensure the needed volume of natural gas for Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline, according to the report.
Recently, the specialists of Turkmengas state concern have held a meeting with the representatives of such Japanese corporations as Mitsubishi, Chiyoda, Sojits, Itochu and JGC. The meeting focused on the key factor of diversification of supplies, in particular, expansion of gas production and processing at the huge Galkynysh field, the reserve of which will serve as the main resource base for the TAPI international project.
Turkmenistan to build its TAPI section on its own
The construction of the 215-kilometer Turkmen section of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline with a capacity of 33 billion cubic meters of marketable gas per year will be conducted by the local fuel and energy complex of Turkmenistan, the Neutral Turkmenistan newspaper said. The article said that the experts of Turkmengaz state concern have already started engineering and survey work on the route of the future gas pipeline. They implement a set of technical and geological studies on the route of the future gas artery from the giant Galkynysh field to the border with Afghanistan.
Local experts conducted a topographical survey at the 160-kilometer section. Geological survey and prospecting was carried out on 50 kilometers of the route. In the near future, field work will be completed in the barchans area of the Karakum Desert and begin in the highlands.
Gas Chemical complex built in Uzbekistan
The Uzbek-Korean joint venture Uz-Kor Gas Chemical has finished construction of the Ustyurt gas chemical complex worth $4.16 billion, the Uzbekneftegaz National Holding Company said. The construction has been completed, the first production took place, and the official launch of the enterprise is scheduled for late October, according to the source.
General contractors of the project are the Korean Samsung Engineering, GS Engineering and Hyundai Engineering. The construction began in 2011.
The complex will annually process 4.5 billion cubic meters of natural gas and produce up to 4 billion cubic meters of marketable gas, 387,000 metric tons of polyethylene, 83,000 metric tons polypropylene and 102,000 metric tons of pyrolysis gasoline.