Caspian Energy Investor ¹ 39 (272) 5 December 2007
ACCENT
KASHAGAN: NO CONSENSUS
ALL CONSORTIUM MEMBERS EXCEPT ONE HAVE AGREED IN PRINCIPLE TO THE TRANSFER OF A PORTION OF THEIR INTERESTS TO KMG
The talks as regards the extension of commercial production start terms at Kashagan (Kazakh sector of the Caspian Sea) from 2008 to 2010 have moved from the dead stop. It is not the first time when the terms of production start at Kashagan, the largest oil field worldwide discovered over the recent three decades (minimum 7-9 bln bbl of recoverable reserves), are postponed. Originally, pilot commercial development was scheduled for mid 2005. However, due to financial and technical problems the operator faced, the terms were postponed to late 2008.
On July 26 Eni, (the operator, North Kashagan project) submitted the official report to the Ministry of Energy and Mineral Resources of the Republic of Kazakhstan to inform about a new shift of terms at Kashagan from 2008 to 2010. The reason was the necessity to perform more preparatory works at the field to ensure safety of people living near Kashagan, workers and environment. That time Minister of Energy and Mineral Resources of Kazakhstan Bahtikoja Izmuhambetov said: “We launch studying calculations on new project costs to reveal how reasonable they are. We are scrutinizing this issue to maximum observe all environmental requirements”.
REQUIREMENTS TO SUBSOIL USERS GET TOUGHER IN KAZAKHSTAN
KASHAGAN PROJECT MIGHT GET FROZEN
The talks as regards the extension of commercial production start terms at Kashagan (Kazakh sector of the Caspian Sea) from 2008 to 2010 have reached a deadlock. It is not the first time when the terms of production start at Kashagan, the largest oil field worldwide discovered over the recent three decades (minimum 7-9 bln bbl of recoverable reserves), are postponed. Originally, pilot commercial development was scheduled for mid 2005. However, due to financial and technical problems the operator faced, the terms were postponed to late 2008.
CIBC
CASPIAN INTEGRATION BUSINESS CLUB HOLDS MEETING IN BAKU ON ICT DEVELOPMENT IN AZERBAIJAN
On November 29 the companies with the Caspian Integration Business Club (CIBC) hold the meeting with the Head of Information Resources and Technologies Department of President’s Office Elmir Velizadeh and Deputy Minister of Communication and IT of Azerbaijan Iltimas Mammadov. Represented in the meeting were virtually all national PC, laptop and software manufacturers.
EXCLUSIVE
«WE ALWAYS COUNTED ON OUR RESOURCES» - NATIG ALIYEV
«Azerbaijan has another global task, to come as an independent seller to markets of Turkey, Greece and Italy. And for this, we need information on transit terms. And we will arrange deliveries of the kind, as Europe today is interested in gas supplies from Azerbaijan», said Natig Aliyev, Minister of Industry and Energy of the Republic of Azerbaijan, in his exclusive interview with Caspian Energy Investor.
«EVERYONE INTERESTED IN USIGN NABUCCO CAPACITIES IS WELCOMED» - JOHANN GALLISTL
«The concept of Nabucco is that you have to prepare with one entity, Nabucco Gas Pipeline Company, International, Nabucco gas pipeline that starts from Turkish border and ends in Austria. And when you enter the South Caucasus Pipeline system into Nabucco, then you have a full capacity for Nabucco and you go out along the way – there will be outlets along the way», said Johann Gallistl, Vice-President Nabucco Gas Pipeline International GmbH, in his exclusive interview with Caspian Energy Investor.
CASPIAN REGION
Kazakhstan
NEW OILFIELD DISCOVERED IN KAZAKHSTAN
Oilfield was discovered in one of sections within Kazakh sector of the Caspian Sea, said President KazMunayGas JSC Nursultan Nazarbayev on November 30 following his meeting with President of Kazakhstan Nursultan Nazarbayev.
BY 2009 MEMR DRAW UP A NEW ENERGY SAVING LAW
The final sitting of the Coordination Council presided by J. N. Marabayev was held in Astana to discuss development of oil-and-gas and energy sectors of KazEnergy Association.
Turkmenistan
Russia-Kazakhstan
Russia
CASPIAN ECOLOGY
WORKSHOP WIHTIN OIL POLLUTION PREVENTION CONVENTION IN BAKU
GAS
TRANSPORTATION
Baku-Novorossiysk
SOCAR KEEPS RUNNING OIL VIA NORTHERN ROUTE
Marketing and International Operations Department (MO) with SOCAR has finalized the tender on sale of 2007’s 9th oil load in Novorossiysk.
TRACECA
NEXT MEETING OF TRACECA INTERGOVERNMWENTAL COMMISSION DUE IN ASTANA ON DECEMBER 12-13
The next, VI meeting of intergovernmental commission of TRACECA corridor will take place December 12-13 in Astana, Azerbaijan’s Coordinator on TRACECA Akif Mustafayev told Caspian Energy Investor.
CIBCNews
AZERI PARLIAMENT ADOPTED 2008 BUDGET
On November 30 the Milli Majlis during its plenary sitting has adopted the Law «2008 State Budget», Caspian Energy Investor reports.
AZERENERJI READY TO PROVIDE ELECTRICITY TO THE COUNTRY DURING WINTERTIME AT 100%
AZERENERJI CAN REJECT JBIC’S CREDIT FOR CONSTRUCTION OF SECOND COMBINED-CYCLE UNIT AT SHIMAL POWER PLANT
Electricity shortfalls in Baku and regions of Azerbaijan have nothing to do with Azerenerji’s operations, said during press conference (November 30) Marlen Asgarov, Vice-President Azerenerji.
STATE STANDARDIZATION AGENCY TOUGHENED CONTROL OVER ALCOHOLIC BEVERAGE MAKERS
In accordance with decrees and resolutions of Azerbaijani President and orders of the Cabinet of Ministers of Azerbaijan, the State Agency for Standardization, Metrology and Patents of Azerbaijan toughened the state control over alcoholic beverage producers.
AZERBAIJAN ACQUIRES LATVIAN EXPERIENCE IN E-REGISTRATION OF LEGAL ENTITIES
Azerbaijani delegation of employees of Ministries of Economic Development and Taxes is in Latvia.
SECOND STAGE OF STATE URLS MONITORING UNDERWAY
In December 2007 through May 2008 the Information Freedom Development Coalition is launching the second stage of information transparency monitoring of webpages of state agencies of Azerbaijan, Caspian Energy Investor reports with reference to the Ministry of Communication and IT of Azerbaijan.
SSC REGISTERED SHARES OF 10 COMPANIES IN NOVEMBER
The State Securities Committee (SSC) under President of Azerbaijan registered equity issue of 10 companies in November.
OIL COMPANIES, IFC LAUNCH ACCESS TO FINANCE PROGRAMME IN WESTERN AZERBAIJAN
BP on behalf of its co-venturers, through its Regional Development Initiative, yesterday signed a $1 million grant agreement with the International Finance Corporation (IFC), a member of the World Bank Group, to support access to finance for micro and small enterprises (MSE) in Azerbaijan’s western regions.
AZERBAIJANI PRODUCTION PRESENTED AT IFE FOODAPEST EXHIBITION
Five Azerbaijani companies took part in IFE FOODAPEST International Food Product Exhibition held in Budapest at support of Ministry of Agriculture and Rural Development of Hungary.
HIGH RATES OF DESPOSITS ATTRACTION BY BANKS PERSISTED BY NOVEMBER
In October 2007, the high rates of banks’ attraction of deposits from physical persons and legal entities persisted, Caspian Energy Investor reports with reference to the National Bank of Azerbaijan (NBA).
SOCAR
Export
SOCARMO EXPORTED 159,404TON OF CRUDE VIA NOVOROSSIYSK
SOCARMO EXPORTED 11,520TON OF GASOLINE IN NOVEMBER
SOCAR’s Marketing and Operations Department (SOCARMO) in November exported 11, 520ton of gasoline, 113, 529 ton of diesel fuel, 13, 360ton of aviation kerosene and 86,808ton of black oil, SOCAR officials told Caspian Energy Investor.
Drilling
COMPANIES
WORLD MARKET
NO DECREASE IN OIL PRICES EXPECTED
OPEC DOES NOT PLAN TO RAMP UP OIL PRODUCTION
Now the level of global oil prices has approached USD 100/bbl. Ğrice boost can be explained by a number of reasons such as enhanced oil demand worldwide, decrease in oil reserves, growing cost of oil production, political instability in Middle East and slump of US dollar’s.