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Major events in Caspian countries' oil and gas industry for last week (Feb. 15-19)

Analysis Materials 23 February 2016 09:54 (UTC +04:00)

Turkey's Tekfen wins tender for TANAP

Turkish Tekfen won a tender for construction of compressor and measuring stations for the Trans-Anatolian Natural Gas Pipeline (TANAP). Tekfen will build the stations during a period of 39 months after signing of a contract. The company won the tender by offering the biggest price for the contract - $457 million.

Kazakhstan discovers more oil

Oil was discovered as a result of exploration activities at the north-eastern flank of S. Nurzhanov field, Liman and Akkuduk blocks in Kazakhstan, KazMunaiGas Exploration Production (KMG EP) said. While testing the productive Triassic reservoir of the directional well drilled in 2015 at the north-eastern flank of S. Nurzhanov field, the well flowed at a rate of 130 tons per day of light crude oil on a 7 mm choke. Preliminarily prospective resources are estimated at 3.9 million tons of recoverable hydrocarbons. Moreover, a natural oil flow rate of 3.3 cubic meters per day (20 barrels per day) was obtained at Liman block. The company plans to drill four exploration wells there in 2016. While performing testing, the exploration well at the new area adjacent to the producing Akkuduk field flowed at a rate of up to 18 cubic meters per day (110 barrels per day), and, as a result, the new deposit in Middle Jurassic horizons was discovered.

Turkmens start first-ever independent development of Caspian oil & gas fields

Turkmenistan's state concern Turkmenneft intends to realize plans for development of huge hydrocarbon reserves in the Caspian Sea's Turkmen sector, read a message from the country's oil and gas ministry. "Oil workers are making their first steps in the development of offshore hydrocarbon reserves for the first time ever in the Turkmen oil and gas industry's history," said the message. A deep drilling is already underway at the North Goturdepe and Altyguyi fields. Results of the drilling work indicate to great prospects of the fields, according to the message.

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