TODAY.AZ / Business

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

15 April 2013 [11:56] - TODAY.AZ

Nabucco offers Shah Deniz consortium 50-percent share in project

Nabucco West has offered the consortium of Azerbaijan Shah Deniz field development a 50- percent share in the project, CEO of Nabucco Gas Pipeline International GmbH Reinhard Mitschek told journalists in Baku.

Total announces date for receiving first gas from Absheron field in Azerbaijan

Total E&P Azerbaijan expects to receive its first gas from the Absheron field in 2020, the company's General Manager Christian Giudicelli said.

He said by late 2014, Total E&P Azerbaijan will present a programme of development of the field to the State Oil Company of Azerbaijan (SOCAR), after fulfilment of which the first gas is expected to be received by 2020.

As for production volumes at the field, Giudicelli stressed that according to the forecasts, during first phase of the field's development, the annual production volume is expected to be three to five billion cubic meters.

SOCAR and Statoil sign memorandum of understanding on prospective structures Zafar and Mashal

SOCAR (State Oil Company of Azerbaijan) and Norway's Statoil signed a Memorandum of Understanding on the prospective 'Zafar' and 'Mashal' structures in the Azerbaijani sector of the Caspian Sea, in Baku.

The memorandum provides for negotiations, the coordination of basic commercial principles and conditions of the contract for the development and conclusion of the contract within a year after its signing.

Investment in the project is estimated at $2 billion and the predicted oil reserves at 140 million tons, of which 100 million accounts for Zafar and 40 million for Mashal.

SOCAR completes drilling of another well in Umid field

SOCAR (State Oil Company of Azerbaijan) completes the drilling of new wells in the Umid gas condensate field in the Azerbaijani sector of the Caspian Sea, the company's first vice-president of geology, geophysics and field development Khoshbaht Yusufzadeh said.
According to him, some 6,000 meters of the projected 6,450 meters have been drilled in the well.

According to SOCAR experts, the amount of the reserves amounts to more than 200 billion cubic meters of gas and 40 million tons of condensate according to the results of drilling of the first exploration well.

Kazakhstan introduces coal gas technology

JSC National Company KazMunaiGas in cooperation with its western partners has begun introducing technology on the production of gas from coal, chairman of the board of directors of JSC NC KazMunaiGas, Lazzat Kiinov said at a meeting with representatives of national companies and ministries for discussion of gas generation development issues.

According to Kiinov, it is important to consider the fact that Kazakhstan has the world's cheapest coal which can also be used for gas production. According to him, under such conditions it is cheaper for Kazakhstan to produce gas from coal than from shale.

Turkey rejects Gazprom's proposal on gas supplies from Kazakhstan

Turkey refused from Russian company Gazprom's proposal to supply gas from Kazakhstan to the country, "The Lira" newspaper reported, citing a source in the Turkish Energy Market Regulatory Authority.

Gazprom together with Turkish Bosphorus Gaz company planned to annually import 750 million cubic meters of gas to Turkey within 10 years.

It is reported that Gazprom appealed to Turkish Energy Market Regulatory Authority for a license to import gas about a year ago, but the Turkish Energy Market Regulatory Authority denied the company due to non-profitability of its proposal.

Tethys starts development of oil fields in southern Uzbekistan

Tethys Petroleum Ltd registered in Guernsey (Channel Islands) has launched a project to enhance oil recovery in the Chegara field in the Kashkadarya region (south of Uzbekistan), a source at the Uzbekneftegaz National Holding Company (NHC) said.

The source said Uzbekneftegaz and Tethys signed a contract for the implementation of this project in May last year which provides for the implementation of drilling, including the use of horizontal penetration that covers the period up to 2020.

The total volume of Tethys' investments in the project will total $24.4 million.

According to the Uzbek side, the designed capacity of production from the field could reach around 390 tons per day.



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