TODAY.AZ / Business

Main occasions of previous week in Caspian countries' oil, gas industry

25 February 2013 [15:00] - TODAY.AZ
Azerbaijan ratifies agreement on gas transit through Turkey

The Azerbaijani parliament and Turkey have ratified an agreement on the transit of Azerbaijani gas through its territory and construction of an independent pipeline.

In particular, the country's parliament at its regular meeting has today ratified a memorandum of understanding on the transit of natural gas from Azerbaijan through Turkey between the Azerbaijani and Turkish governments and construction of an independent gas pipeline (Trans-Anatolian Gas Pipeline) to ensure gas transit through the Turkish Republic.

Deputy Parliamentary Speaker Valeh Alasgarov said the memorandum is one of the documents included in the package of agreements which will be gradually adopted.

SOCAR starts drilling high debit gas condensate well in Caspian Sea

SOCAR has started drilling a new well in the offshore field "March 8" in the Azerbaijani sector of the Caspian Sea, SOCAR said.

According to the report, the projected depth of the well is 5,800 meters. Drilling is being conducted by "Sahil" drilling department upon the orders of SOCAR's N. Narimanov Oil and Gas Extraction Department.

According to the estimates of geologists, the daily production rate of the well must be 40 tons of condensate and 350,000 cubic meters of gas.

SOCAR signs agreement with Delta Rubis on distribution of fuel in Turkey

SOCAR (State Oil Company of Azerbaijan) has signed an agreement with Delta Rubis on the storage and distribution of fuel in Ceyhan area in the Turkish province of Adana, Deniz Haber agency reported.

The company will engage in distribution of fuel oil, ship and aircraft fuel. The agreement between the two companies was signed for a period of five years.

It is reported that Delta Rubis is the largest company in Turkey for the storage of fuel.
Earlier, on January 10, 2013, the Energy Market Regulatory Authority of Turkey (EPDK) has issued a license to SOCAR for distribution of fuel in the domestic market.
SOCAR also previously obtained a license for wholesale gas sales in Turkey.

Norway's Statoil discloses reasons for stopping negotiations on Kazakh Abay project

Norwegian Statoil has decided not to pursue negotiations on Abay project in the Kazakh sector of the Caspian Sea as a result of commercial and technical evaluations of the project, the company's spokesperson Bård Glad Pedersen said.

Pedersen mentioned that Statoil signed a Heads of Agreement (HoA) on the Abay block in March 2011.

"However, as part of a global prioritisation process and the overall commercial and technical evaluations related to the Abay project, we have decided not to pursue negotiations on Abay," Pedersen said.

Iran stops transiting Turkmen LPG in a bid to boost exports - report

Iran has stopped transiting Liquefied Petroleum Gas (LPG) from Turkmenistan with the goal of increasing exports of domestically produced LPG to international markets, the Mehr News Agency reported.

Iran has boosted the production of LPG in its refineries and has officially stopped transiting Turkmen LPG.

"Under economic sanctions against the Islamic Republic, hiring foreign tankers for exporting liquefied gas has been made difficult, so exporting LPG to Iraq and Pakistan is economically justified in such a situation," Hamid Hosseini, the member of the Iranian oil, gas, and petrochemical exporters told Mehr.

Turkmenistan and UAE to expand cooperation in energy field

Turkmenistan and the United Arab Emirates (UAE) will expand and improve cooperation in areas such as oil and gas, refining, chemical industry and renewable energy.
This is stated in a joint statement signed after the talks between the President of Turkmenistan, Gurbanguly Berdimuhamedov and President of the UAE, Sheikh Khalifa Bin Zayed Al-Nahyan, who was recently on a visit to Ashgabat.

Turkmenistan prepares meeting on TAPI gas pipeline project

Turkmenistan initiates holding another meeting of the technical working group in near future as part of TAPI (Turkmenistan-Afghanistan-Pakistan-India) gas pipeline project's implementation, the Turkmen government said.

The agenda and venue of the meeting are currently being considered.

It is expected that the agenda will include organizational, legal and technical issues for creation of a specialized company. This issue was discussed at a government meeting in Ashgabat. It was noted that this structure will address a number of specific issues related to the practical implementation of the TAPI project.

"As of today, all the participating countries have agreed on the creation of such company," the statement said.


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