PARTNERS OF SOCAR

Ramco is going to mine a shallow part of "Guneshli" together with the company TotalFinaElf

As Ramco has exclusive rights on a shallow part of a field "Guneshli", other companies can not claim for its mining without involvement of Ramco, the manager on public relations of the company Ramco Energy LTD Lisa Newman has notified Turan.

Now Ramco carries out engineering negotiations with the company TotalFinaElf on mining a shallow part of this field, then the commercial issues will be considered, she has marked.

Ramco has the agreement with TotalFinaElf regarding the contract on mining of a field "Guneshli". According to this document, TotalFinaElf has agreed to bear expenses completely on a field instead of Ramco. At that Ramco has the right to acquire a additional share of in the project, has told the representative of the British company.

The company also is the participant of sponsor's group (1,55 %), created for building the Main Export Pipeline Baku - Tbilisi - Jeyhan.

The Russian-Byelorussian company "Slavneft" is going to sign the memorandum with SOCAR

Russian-Byelorussian Company "Slavneft" is going to sign with SOCAR the memorandum on a rehabilitation of a shallow part of a field "Guneshli". As it became known to Media-Press from the informed sources, "Slavneft" in this connection plans to acquire for SOCAR all geology-geophysical materials on this field.

The company plans to complete as soon as possible a scheme of financing of the project and to choose the partner. "And in one year after the start of work on a field it will be possible to obtain the maiden profitable oil", - has marked a source.

The autumn of past year the memorandum of co-operation, stipulating analysis by the company of a series of offshore and on-shore oil-gas projects in Azerbaijan, was signed between SOCAR and "Slavneft". Almost right after that the representatives of "Slavneft" have declared, that they already carry on particular negotiations on "Guneshli". SOCAR in turn has refuted this information, having marked, that only some data on a field were transmitted to this company.

Relevantly to mark, that "Slavneft" has practically no expertise of carrying out of oil-gas operations at the sea, and SOCAR values this project as difficult from technical point of view.

It was declared to Media-Press in State Oil Company of Azerbaijan, that they can not divulge yet, which memorandum will be signed, however was marked, that after that "Slavneft" will open the office in Baku.

Some representatives of "Slavneft" stated earlier, that are ready to invest in the project a little more than $ 100 million. In judgement of a series of the experts SOCAR, for mining shallow part "Guneshli" will be needed, as the minimum, $ 1 billion. The contract area will include two parts - currently mined by SOCAR and "new", on which one it is still necessary to construct stationary offshore platforms and drill new wells. We shall remind, that now on a shallow part of a field more than 10 platforms work, from where about 250 wells are exploited. 65 % of entire Azerbaijan oil or 83 % of marine oil of Azerbaijan is mined on a field. The residual reserves of the area are valued as 94-130 million tons of oil.

ITERA will invest up to 1,5 billion dollars in development and exploitation of gas fields per the proximate 7-10 years.

Transnational group of companies "ITERA" will invest up to one and half billions of dollars in development and exploitation of gas fields per the proximate 7-10 years, has declared on Thursday on being held in London international conference "Russian gas" the president of "ITERA-HOLDING" Valeriy Otchertsov. As he said, "ITERA" will increase the volume of natural gas production up to 80 billions cubic meters by 2011. Now specialists of TGC study a problem on involvement of the company in mining of Kadym of fields in Uzbekistan and of the Fedorov block in Kazakhstan, ITAR-TASS informs. Valeriy Otchertsov has pointed out, that neither State, nor "Gazprom" does not finance the holding "ITERA", and Gazprom did not give the company "any fields or licenses for their mining". As PRIME-TASS informed earlier, having invested in gas industry of Russia in general over 500 millions dollars, "ITERA" now produces more than 25 billions cubic meters of gas annually. In 2000 "ITERA" has delivered in countries of CIS and Baltic more than 90 billions cubic meters of natural gas, that has put it on the second position among the gas companies world-wide.

Profit of Shell under the totals of 2000 formed 12,719 billion dollars.

The corporation Shell summarises 2000. So, the profit of Shell for the 4th quarter of 2000 in comparison to the similar period of 1999 has increased to 21 percent and has reached 3,113 billions dollars. The profit under the totals of 2000 has formed 12,719 billions dollars, that is on 48 percent more than the profit in 1999. "Shell News" informs so. In the end of 1998 was elaborated the program of a financial readjustment of corporation, which is to be realised to the end of 2001. As the chairman of Shell's Executive Directors Committee Mark Moody-Stewart said, greater results, than counted in concern were achieved and faster, than scheduled. The success reached by corporation, in many respects share also the companies of Shell in Russia. So, in 2000 for the first time the essential income of crude oil production on Sakhalin was obtained. Becoming a prime contractor and having increased own share in this strategically relevant project from 37,5 to 55 percent, Shell has laid the foundation for the beginning of successful mining Lunsk gas field and all-up exploitation Piltun-Asokh oil-field. Sakhalin - 2 becomes, apparently, will become most considerable investment project in Russia for the foreign investors per the proximate years and will help Shell to occupy a worthy place in Russian oil-gas field. Companies of Shell, engaged with marketing of petroleum products, also achieved good results in Russia. The series of the interesting programs invoked to boost demand for Shell products is scheduled to 2001.

Shell has achieved to harden a leading position among the foreign oil companies working with the Russian extracting plants. In particular, relations with the traditional partners - "Norilsk Nickel" and "Alrosoy" were developed further. In the St.-Petersburg market of petroleum products a beginning of sale on Shell filling stations of unleaded gasoline V-Power, designed by specialists of Shell together with the engineers of the company Ferrari became noticeable event.

As the representatives of Shell mark, the presence of the company at Russia became appreciable and under condition of favourable variations will be expanded further.