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Major Events in Caspian Countries' Oil and Gas Industry for Last Week (Aug. 20-24) |
27 August 2012SOCAR completed 3D seismic on large onshore fields
Geophysics and Geology Management of State Oil Company of Azerbaijan (SOCAR) and the Russian Integra Geophysics completed three-dimensional seismic survey in the area of 70 square kilometers of Hovsan-Zig block of fields and the adjacent coastal zone, SOCAR said. The works were carried out by order of the operating company Absheron Operating Company LTD. Materials obtained during field work, currently are being processed and interpreted by Integra Geophysics.
Iran to intensify work on perspective oil and gas fields
Iran has annonced it would intensify work on several of country's oil and gas fields, IRIB news reported. "Arvandan" oil and gas company's general director Salbali Karimi said until September 2012 a development contract on Karun West oil field will be signed, and a month later preparatory works on extraction would begin on those fields. Aside from Karun West, other oil and gas fields such as Sepehr, Sohrab, Jafir and Susangend will start production within next month. Salbali Karimi said that production on Yadavaran and Jafir fields would be increased by installing more oil rigs there.
Iran to have $1 billion in oil bonds in near future
National Iranian Oil Company's managing director Ahmad Qalebani said that Iran will soon have special $1 billion oil bonds, Shana news reported. Qalebani told Shana news that the $1 billion worth of investments include $500 million from Offshore Iranian Oil Company, and the other $500 million from "Pars" oil and gas company in Iran. Qalebani also said that Iran will be implementing oil futures some time next year. Qalebani noted that there were some issues related to the oil futures with stock exchanges, however now they have all been resolved. Speaking of oilfields, Qalebani said Iran will be increasing its oil production by 1 million barrels/day, and its gas production by 400 mcm per day.
U.S. companies seek incentive of Turkmenistan to participate in TAPI project
U.S. companies seek an incentive of Turkmenistan in order to participate in the TAPI (Turkmenistan-Afghanistan-Pakistan-India) pipeline project, U.S. Assistant Secretary of State for South and Central Asia Robert Blake told reporters during his visit to Central Asia. "Many American companies are very interested in participating," he said adding that the road show will be going to the United States but also other countries as well. Blake stressed that progress on this issue depends on what is on offer. "There are a lot of risks to participating in such a pipeline. Part of their consideration will be what kind of incentives Turkmenistan will be prepared to offer international companies to get involved in that project. We will see when the road show takes place," Blake said. He said there will be a road show that will take place sometime in September, at which they will begin to have concrete discussions about who is going to form and lead this consortium to actually build this pipeline. |
27 August 2012
Trend AZ
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