Major events in Caspian countries' oil and gas industry for last week (Feb. 22-26)
Oil block - sticking point in SOCAR-Iranian Oil Ministry co-op
Tehran and Baku are still in discussions over cooperation between Azerbaijan's state oil company SOCAR and Iranian Oil Ministry, Iranian Deputy Oil Minister Amir Hossein Zamaninia said. "We are still working on a memorandum of understanding (MoU) for cooperation between SOCAR and Iran's Oil Ministry," he said.
An informed source has told Trend that the MoU on cooperation between SOCAR and Iran's Oil Ministry is on the swap of oil products and gas, joint onshore cooperation, creating a joint venture, joint cooperation in the third countries as well as joint cooperation in the Araz-Alov-Sharg oil block. The source said that the cooperation on the block is the sticking point in the MoU, as both Iran and Azerbaijan have differences over its ownership.
SOCAR, Transneft ink new oil transportation deal
Azerbaijani state oil company SOCAR and Russian Transneft signed a new agreement on oil transportation via the Baku-Novorossiysk pipeline, Russian media quoted Igor Demin, Transneft president's advisor, as saying. He said that SOCAR will resume oil transportation via the pipeline beginning from March 1.
Sefcovic: Talks on Turkmen gas delivery to Europe progressing quite well
Talks on Turkmen gas delivery to Europe are progressing quite well, says Maros Sefcovic, the European Commission's vice-president for Energy Union.
"We started the so-called Ashgabat declaration process last year, where we set up a working group which is looking for all the possible options, legal and economical issues linked with the question," Sefcovic said. He said the working group had its last meeting few days ago in Istanbul, where two options of the Turkmen gas delivery to Europe were put on the table. "Now this possibility will have to be assessed by all the governments, and we hope that we will come to this discussion back quite soon," noted Sefcovic.
Iran, Azerbaijan to resume oil swap soon, deputy minister says
The oil swap deal signed between the National Iranian Oil Company and the State Oil Company of Azerbaijan (SOCAR) will enter into force soon, Fars News Agency reported citing Iranian Deputy Oil Minister Rokneddin Javadi as saying.
"Iran is about to resume oil swap with Azerbaijan after a gap of five years, importing crude into Caspian ports and supplying equivalent barrels on behalf of its Azeri partners in the Persian Gulf," he said.
This comes as Iran plans to resume swap of oil products, primarily natural gas liquids, with Turkmenistan and Kazakhstan as well, the Iranian agency reported.