Caspian Energy Investor ¹ 18 (251)  1 June 2007


 

ACCENT

 

AZERBAIJAN RAMPING UP GAS PRODUCTION AT SHAH DENIZ

 

65,000 BARRELS IN OIL EQUIVALENT PLANNED TO PRODUCE AT SHAH DENIZ DAILY

 

Azerbaijan trends to ramp up domestic gas production. In this regard the Shah Deniz Exploration Project appears to be the main link. Only this year the gas output at Shah Deniz is projected to be brought to in average 65,000 barrels (in oil equivalent) per day. 

 

 

RECORD OIL PRODUCTION AT ACG

 

BTC'S THROUGHPUT CAPACITY TO BE BROUGHT TO 1.2 MILLION BARRELS PER DAY

 

Azerbaijan keeps on breaking all records on oil production. The increased oil output is mainly provided by Azeri-Chirag-Gunashli (ACG) Exploration Project. Only during the first quarter of 2007 ACG yielded 61 million barrels (in average about 678,000 barrels a day) from CA, WA and EA platforms. To date the daily output exceeds 700,000 barrels of oil. In May 2007 ACG fields showed the record oil production, which comprised as much as 752,000 barrels a day.

 

 

 

CIBC

 

CASPIAN ENERGY CUP INTERNATIONAL JUVENILE SOCCER TOURNAMENT TO BE HELD IN BAKU

 

The Caspian Integration Business Club (CIBC) has launched a new project on organization of the international juvenile soccer tournament.

 

 

AZERBAIJAN TO BE FULLY GASIFIED BY THE END OF 2007 - ALIKHAN MALIKOV

 

CIBC MEMBER-COMPANIES MEET IN BAKU WITH ALIKHAN MALIKOV, CHAIRMAN, AZERIGAZ CJSC

 

"Azerbaijan completely meets domestic gas needs and has a technical potential to prolong gas supplies to Georgia. Imported gas was replaced by gas produced at Shah Deniz and Azeri fields and own production of SOCAR. At present Azerigaz CJSC daily receives 13 mln m3 from SOCAR, 7 mln m3 from Azeri field and 5 mln m3 from Shah Deniz. Out of the total amount, 10 mln m3 is daily supplied to Azerenerjy OJSC", Alikhan Malikov, Chairman, Azerigaz CJSC said today (May 30) at the meeting of the Caspian Integration Business Club (CIBC).

 

 

 

CASPIAN REGION

 

 

KAZAKHSTAN NOT COMPLETED FIRST PHASE OF KAZAKH SECTOR OF CASPIAN SEA DEVELOPMENT PROGRAM

 

Last week Kazakhstan's parliament proceeded with work on ratification of agreement with Russia covering GPP cooperation. It was also known from the parliament session that Kazakhstan's government failed to comply with the first phase of Kazakh Sector of Caspian Sea Development Program for 2003 - 2015.

 

 

THIRD SESSION OF CHINESE-KAZAKHSTAN ENERGY COOPERATION SUBCOMMITTEE

 

The third session of the Energy Cooperation Subcommittee of Chinese-Kazakhstan Cooperation Committee was held May 28 in Astana.

 

 

 

 

 

 

CASPIAN ECOLOGY

 

PETROLEUM COMPANIES POLLUTE KAZAKH SECTOR OF CASPIAN SEA

 

Oleg Mitvol, Deputy Chief of Rosprirodnadzor, is going to inspect petroleum companies operating on Kazakh shelf of the Caspian Sea.

 

  

GAS

 

AZERBAIJAN SUGGESTS SIGNING AGREEMENT UNDER NABUCCO PROJECT

 

Joseph R. Wood, Vice President Dick Cheney's Deputy Assistant for National Security Affairs, sounded the US interest in hydrocarbons transportation from Middle Asia via Azerbaijan to Europe.

 

 

NORD STREAM OFFSHORE PIPELINE TO BE INSTALLED IN ACCORDANCE WITH ENVIRONMENTAL STANDARDS

 

The debate about the environmental impact of infrastructure projects in the Baltic Sea needs to finally be approached in a more rational manner, says the release of Nord Stream delivered to Caspian Energy Investor.

 

 

 

MEP

 

MO SOCAR ANNOUNCES A WINNER OF THE MARKETING TENDER ISSUED 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 winner of the marketing tender issued to sell the next 14th consignment of profit oil of Azerbaijan.

 

 

TRANSPORTATION

 

 

 

 

 

 

 

 

 

 

 

EXHIBITIONS

 

14th CASPIAN OIL&GAS EXHIBITION AND CONFERENCE DUE IN BAKU

 

The 14th International Exhibition and Conference "Caspian Oil&Gas" is taking place on June 5 to 8 in Heydar Aliyev Sports and Exhibition Complex in Baku.

 

 

ECONOMY

 

IMF SEES THE GROWTH BOOM CONTINUING IN THE CAUCASUS AND CENTRAL ASIA

 

IMF's East and Central Asia Department Sees the Growth Boom Continuing in the Caucasus and Central Asia, but Highlights the Need for Vigilance Against Inflationary Pressures and Excessive External Borrowing.

 

 

MILLI MEDJLIS OF AZERBAIJAN APPROVES 2007 BUDGETARY DEFICIENCY RISE TO 2.4% OF GDP

 

The Milli Medjlis (parliament) of Azerbaijan during its last Friday's plenary session `adopted the amendments to the 2007 state budget covering the increase of budgetary deficiency to AZN 544 million or 2.4% of GDP.

 

 

AZERBAIJAN BECAME ENERGY REGULATORS REGIONAL ASSOCIATION MEMBER

 

A representative of the Tariff (Price) Council of Azerbaijan took part in the next annual meeting of the Energy Regulators Regional Association (ERRA) and 6th conference for energy regulation and investments in Istanbul.

 

 

AZERBAIJAN, BRAZIL SIGN ENERGY COOPERATION MEMORANDUM

 

Minister of Industry and Energy of Azerbaijan Natig Aliyev held a meeting with Cesario Melantonia Neto, Ambassador of Brazil to Azerbaijan and Turkey.

 

 

THOMSON FINANCIAL LIMITED AWARDED SOFAZ TENDER

 

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) completed 2 tender procedures, which started on January 14, 2007 for selection of IT solution for Portfolio Management/Portfolio Accounting System and General Ledger (Main Accounting System).

 

 

AZERBAIJAN TO TAKE PART AT NUCLEAR AND RADIATION PHYSICS CONFERENCE IN ALMATY

 

The 6th International Scientific Conference Nuclear and Radiation Physics, dated to the 50th anniversary of Nuclear Physics Institute, will take place on June 4, 2007 in Kazakhstan.

 

 

SOCAR

 

 

 

CONSORTIA

 

 

 

COMPANIES