Major events in Caspian countries' oil and gas industry for last week (Oct. 2-6)

Analysis Materials 10 October 2017 10:09 (UTC +04:00)

Gazprom to open office in Azerbaijan

Russia’s Gazprom PJSC decided to open a representative office in Azerbaijan. The decision was taken at a meeting of the company’s Board of Directors.

On July 2, St. Petersburg hosted a meeting of Alexey Miller, chairman of Gazprom’s Management Committee and deputy chairman of the Board of Directors, and SOCAR President Rovnag Abdullayev.

Gazprom said that the meeting participants discussed cooperation issues, in particular, the supply of natural gas to Azerbaijan.

UAE company reveals details of contract on Azerbaijani gas field

UAE’s Topaz Energy and Marine will start work on Azerbaijan’s Absheron gas field development project in January 2018, the company’s CEO René Kofod-Olsen told Trend.

Topaz Energy and Marine won a new contract with the French TOTAL company to take part in the development of Azerbaijan’s Absheron gas field development.

Topaz will supply its anchor-handling vessel Topaz Triumph to TEPAb to service one work-over and one development well in the Absheron offshore field.

The work is estimated to take more than one year.

“The contract has an expected duration of around 14 months and work is expected to start from January 2018,” said the CEO. “This is a significant contract for Topaz and we are humbled that TOTAL has trusted us to support them in such an important development.”

Olsen recalled that Topaz has in the past successfully supported TOTAL’s operations in both West Africa and the Middle East.

“The newly signed contract for Azerbaijan builds on our existing relationship with the client and we are hopeful it will pave the way for future work to be carried out in various other geographies,” he added.

He pointed out that Topaz is very interested in expanding it operation in Azerbaijan.

“In fact, Azerbaijan has been an important market for Topaz over several decades and forms part of Topaz’s wider commitment to the Caspian, demonstrated through our investment into the region and high levels of localization,” said the company’s CEO.

Azerbaijan launches production of premium motor oils

Millers Oils Azerbaijan Ltd., a resident of the High-Tech Park of Azerbaijan National Academy of Sciences (ANAS), has started production of premium motor oils, Vugar Babayev, director of the High-Tech Park, told Trend.

He said a presentation by Millers Oils Azerbaijan Ltd. is expected by the end of October on the occasion of the start of production of premium motor oils.

“The products manufactured by this resident are designed for premium and sports cars,” Babayev said.

The High-Tech Park is already exporting lubricating oils to Turkey and Georgia. In addition, the High-Tech Park exported one ton of naphthalan oil to Ukraine.

“Now, we plan to expand the export of these products to Russia and the countries of Central Asia,” Babayev noted.