Caspian Energy Investor ¹ 15 (248)     4 May 2007


ACCENT


  • SOFAZ’S ASSETS EXCEED $1.7 BILLION

    •
    This week the State Oil Fund of Azerbaijan totaled the 1Q2007. According to this report, budgetary revenues of the Fund (SOFAZ) during 1Q2007 reached AZN 373.6 million and expenses AZN 147.7 million.


  • BAKU-MINSK COOPERATION IN FEC FIELD ANALYZED


    • PRESIDENT OF BELARUS ALEXANDER LUKASHENKO PAID OFFICIAL VISIT TO AZERBAIJAN

    The official visit of President of Belarus Alexander Lukashanko (May 1 to 3) to Azerbaijan finished. Through the visit the parties signed a number of documents. Belarusian party expressed its interest in rehabilitation of oil oilfields in Azerbaijan and processing of Azerbaijani oil at Belarusian ORPs.


    CIBC


  • PRODUCTION WITHIN THE FRAMEWORK OF SHAH DENIZ STAGE 1 TO GO UP

    •
    CIBC MEMBER-COMPANIES MEET WITH HEADS OF SOCAR-RUN DEPARTMENTS IN BAKU

    The outlooks of development of the oil & gas industry, export policy and outlooks of cooperation between SOCAR and the member-companies of the Caspian Integration Business Club were touched upon at the today’s CIBC meeting (May 4) held with participation of General Manager of the Marketing & Operations Department (SOCAR MO) Mukhtar Babayev and Head of the Gas Operations Department Kamal Abbasov.


    EXCLUSIVE


  • PRODUCTION AT KASHAGAN MIGHT BE POSTPONED B TO MORE YEARS - MUNAL IZBERGENOV

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    «In the shortest outlook the oil production shall ramp up in Kazakhstan. By 2025 we in the RK will be producing some 150-180 MT of oil per annum. These figures were calculated with an account for production on the Caspian Sea shelf, the North Caspian Project. In such case the current transportation infrastructure will fall unable to supply Kazakhstan’s demand», said Munal Izbergenov, Vice-President Chief Dispatching Unit of Oil&Gas Industry with the Ministry of Energy and Mineral Resources of the Republic of Kazakhstan in his exclusive interview with Caspian Energy Investor.


    CASPIAN REGION


  • Caspian status

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  • Kazakhstan

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  • PSA UNDER ZHAMBAY AND ZHEMCHUZHINA PROJECTS REVISED

    •
    KAZAKHSTAN, JAPAN DISCUSS ENERGY INDUSTRY COOPERATION.

    Kazakhstan has revised some PSAs signed with foreign investors. In particular, the government revised the statuory contract and charter of Zhmabay project and changed the complement of participants to Zhemchuzhina PSA.

    Alongside, Kazakhstan is expanding in alternative energy industry, in particular nuclear , and makes a range of extensive scientific and technical studies or peaceful utilization of nuclear energy, radiation safety, ecology, nuclear physics and geophysics.

  • Turkmenistan

    •

  • Russia



    • CASPIAN ECOLOGY


  • OIL-POLLUTED AREAS CLEANED


    • The cooperation in oil-polluted areas cleaning on Absheron peninsula was discussed at the meeting between management of SOCAR and representatives of the World Bank.

  • SEALS DYING ON CASPIAN SEA SHORE

    •
    Dead seals found on Kazakh shore of the Caspian Sea reached 819, Press Service of the Eemegency Response ministry of Kazakhstan reported.


    GAS


  • GAS OPEC SETUP UNLIKELY


    • The gas producing countries seem hardly to set up a cartel like the Organization of Petroleum Exporting Countries (OPEC) as major gas volumes are sold under the terms of long-range contracts, said Guy Karuso, the Head of Energy Information Agency (EIA). “I do not consider this idea feasible as gas sales in the LNG sector differs much from oil sales”, Karuso said.


    MEP


  • SOCAR MO ANNOUNCES THE MARKETING TENDER TO SELL THE NEXT CONSIGNMENT OF PROFIT OIL IN CEYHAN


    • The Marketing and Operations Department of the State Oil Company of Azerbaijan (SOCAR MO) has announced the marketing tender issued to sell the next (13th in 2007) consignment of Azeri profit oil.


    TRANSPORTATION


  • CPC

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  • Caspian Sea Ports

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  • KRASNOYE SORMOVO LAUNCHED FOURTH DRY CARGO VESSEL FOR PALMALI GROUP

    •
    Krasnoye Sormovo (MNP Group) has launched fourth RSD17 design vessel for Palmali Group.


    ECONOMY


  • PRESIDENT OF AZERBAIJAN TO PAY OFFICIAL VISIT TO EGYPT AND POLAND

    •
    President of Azerbaijan Ilham Aliyev shall make his first official visit to Egypt; later on he shall make a visit to Poland.

  • GOVERNMENT PREPARES PROPOSALS ON ORGANIZATION OF ACTIVITY OF ENTREPRENEURSHIP ENTITIES IN ACCORDANCE WITH “ONE WINDOW” PRINCIPLE

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    With the aim to eliminate some problems in business-environment, in particular existing multistage procedures of business launch, complicated system of authorizations, as well as removal of bureaucratic obstacles and red tapes, intensive development of business and formation of more favorable business-climate in the country President of Azerbaijan Ilham Aliyev signed the Decree on some measured linked to development of business in the Republic of Azerbaijan.

  • AZERI BUSINESSPEOPLE TO HOLD TALKS IN AKTAU

    •
    During their visit (May 10-11, 2007, organized by Ministry of Economic Development of Azerbaijani and Azerbaijan Investment Promotion and Advisory Foundation (AZPROMO) to Aktau, Kazakhstan, Azerbaijani businesspeople shall take part in “Presentation of Investment Capacities of Western Kazakhstan” Exhibition.

  • LICENSES ON CONSTRUCTION AND RECONSTRUCTION OF 608 BUILDINGS AND RESIDENTIAL AREAS GRANTED IN AZERBAIJAN SINCE EARLY 2007


    • The licenses on construction and reconstruction of 608 buildings and residential areas to the total sum of 122.8 million AZN were granted in Azerbaijan in the first quarter of 2007.

  • RUSSIA AND AZERBAIJAN REACH AGREEMENT ABOUT RESTART OF MUTUAL ELECTRICAL ENERGY FLOWS


    • Electrical energy exchange between Azerbaijan and Russia will restart on May 1. The corresponding contract was signed by Azerenerji and Inter RAO Unified Energy System of Russia, Azerenerji reported to Caspian Energy Investor.

  • INSTALLATION OF MAIN EQUIPMENT AT 517MW SUMGAYIT POWER PLANT TO BE COMPLETED SHORTLY

    •
    Installation of main equipment at 517MW Sumgayit power plant is to be completed shortly. Azerenerji OJSC officials said the thermal insulation and oil systems are being installed a the first turbine of the 517MW combined-cycle unit being installed within the area of Sumgayit power plant.

  • NBA’S CURRENCY RESERVES EXCEED $2 BILLION

    •
    The official currency reserves of Azerbaijan in NBA’s disposal amount to $2,035.4 million.


    SOCAR


  • Projects

    •

  • SOCAR, PETROTRANS AND A GEORGIAN DEPUTY BECOME SHAREHOLDERS OF SOCAR-GEORGIA-PETROLEUM

    •
    Dubai-registered Petrotrans Company, former banker and current deputy of the Georgian Parliament Vano Chkhartishvili and the State Oil Company of Azerbaijan are the shareholders of SOCAR-Georgia-Petroleum Company registered in Georgia.

  • Contracts

    •

  • SOCAR, PALMALI STRIKE CONTRACT


    • The State Oil Company of Azerbaijan and Palmali Group of Companies signed the fright service contract.

  • ARCHITECTURAL CONCEPT FOR NEW OFFICE OF SOCAR IDENTIFIED


    • The new state-of-the-art administrative building for SOCAR to satisfy all requirements and standards will be erected near Heydar Aliyev Avenue.

  • Production

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    CONSORTIA


  • Zykh-Hovsany

    •


    COMPANIES




    WORLD MARKET


  • IEA CONSIDERS OIL PRICES TOO HIGH


    • There is not enough oil in the market and ‘black gold’ prices are too high, Reuters reports quoting Claude Mandil, President of the International Energy Agency (IEA).