Major events in Caspian countries' oil and gas industry for last week (June 19-23)
Iran pre-qualifies Azerbaijan’s SOCAR for its oil, gas projects
The National Iranian Oil Company (NIOC) added four other Russian companies and Azerbaijan’s state oil firm SOCAR to the list of prequalified companies for Iran’s oil and gas upstream projects. The four Russian companies include Gazprom Neft, Rosneft, Tatneft and Zarubezhneft, according to the official website of the NIOC. There are currently 34 foreign energy firms which have been approved to help Iran in development of its energy projects.
Italy’s Eni signs MoU with Iran on oil & gas field study
Italian energy company Eni signed a memorandum of understanding with National Iranian Oil Company (NIOC) to study two Iranian oil and gas fields. Under the MoU, the Italian firm will undertake studies for development of the Kish gas field and the third phase of the Darkhovin oil field, Mehr news agency reported. Eni will submit its master development plan (MDP) to the NIOC within six months. The Darkhovin oil field, located in the southwestern province of Khuzestan, was discovered in 1965. The in-place oil reserves of the field have been estimated at over five billion barrels. The first two phases of the project are now operational, and the oil field is currently producing 160,000 barrels of oil per day (bpd). The first phase became operational in 2005, and the second phase came on stream in February 2011. Darkhovin’s third phase is to produce 110,000 bpd of crude and 210 million cubic meters per day of gas. The Kish gas field is expected to yield 28 million cubic meters per day of gas, to be used domestically, and 11,300 bpd of gas condensate set for export.
SOCAR to partake in Caspian Depression development in Kazakhstan
Azerbaijani state oil company SOCAR, along with other interested companies, signed a memorandum of understanding on implementation of the Eurasia project, which envisages development of the Caspian Depression in Kazakhstan, the Kazakh Energy Ministry said.
The memorandum was also signed by KMG Eurasia LLP, Agip Caspian Sea B.V., RN-Exploration LLC, CNPC International Ltd., and NEOS GeoSolutions. From the Kazakh side, the memorandum was signed by the Energy Ministry and the Committee of Geology and Subsoil Use of the Kazakh Ministry for Investments and Development.
Talks will be held on key commercial, technical and contract conditions of the Eurasia project for signing a contract for geological exploration of the Caspian Depression in line with the legislation of Kazakhstan.
The Caspian Depression is a low-lying flatland region encompassing the northern part of the Caspian Sea, the largest enclosed body of water on Earth. Probable reserves in the Caspian Depression are estimated at 60 billion tons of oil.