Major events in Caspian countries' oil and gas industry for last week

BP specifies plans on oil production from Azeri-Chirag-Gunashli for 2013

As a follow up to discussions between BP and SOCAR to manage oil production, BP has completed an in-depth review of Azeri-Chirag-Gunashli (ACG) field performance, BP said on Friday.
"The purpose of the review was to analyse plans for 2013 production delivery and identify opportunities to respond to the technical challenges presented by the field," the statement said.
The review was conducted by a group of representatives of senior global functional leadership in the area of production management, led by Head of Subsurface Ian Cavanagh.
"The review concentrated on identifying actions to address critical areas which we believe are vital to underpinning production in 2013 and beyond," Cavanagh said. BP plans to bring to Baku 12 subsurface specialists that have been specifically selected to support the team in Azerbaijan. These specialists have been hand-picked from BP's assets around the world where similar issues have been encountered before.

Istiglal floating rig resumes work in Azerbaijani Shah Deniz field in Caspian Sea

After completing the certification process of a block of preventers (BOP), Istiglal modified offshore drilling unit (MODU) started work at the Shah Deniz Azerbaijani gas condensate field in the Caspian. According to the source, testing work by the drilling unit is currently underway on one of the wells in the Shah Deniz field. "After completion of this work, the drilling work will be carried out by the MODU in the shallow wells in the field," the source said.
Previously, due to lack of BOP as part of the pre-drilling programme on the second stage of the Shah Deniz development, shallow wells were drilled at the field. This was necessary in order to implement the pre-drilling programme and to avoid delays in the implementation of the project.

Iran allocates $900 million for offshore oil development plans

Iran's Energy Fund has allocated $900 million for implementing development projects at offshore oilfields in the current Iranian calendar year which ends on March 20, 2013, IRNA, quoted Iranian Offshore Oil Company (IOOC) managing director Mahmoud Zirakchianzadeh as saying.
On October 14, Zirakchianzadeh said that Iran has prepared new oil development plans with an estimated cost of $14 billion, related to oilfields located in the Persian Gulf. "During the past two years as much as $20 billion worth of deals have been signed," he said, "Some $14 billion worth of new deals have been prepared and will be offered to contractors," he added. The deals are related to Farzad A & B, Soroush, Esfandyar, Tossan and Alfa fields, Zirakchianzadeh noted.

Turkmengaz: Turkmen natural gas supply restored to Iran

Turkmen natural gas is being supplied to Iran on the basis of existing long term contracts, Turkmengaz state concern said on Friday.

'Gas supply via the Artyk-Lyutfabad pipeline was suspended a few days ago at the request of the Iranian side due to the need for repair work on their territory', the text stated. Upon completion of the work the gas supply was restored.

Turkmengaz state concern stated there is no disagreement over the terms of contracts.
This message from Ashgabat was a reaction to the information of Iranian and foreign media which quoted Iranian Oil Minister Rostam Qasemi as saying that "gas supplies from Turkmenistan to Iran were suspended because of a dispute over the terms of purchase."

Kashagan shareholders reach interim decision on financing second phase

Partners in the international NCOC consortium, implementing the project to develop Kazakhstan's Kashagan oil and gas field, reached an interim decision on financing the second phase of the project at a meeting in Astana on Thursday, a senior source in the Kazakhstan oil sector told Trend on Thursday.
The source did not disclose the essence of the interim decision.
The budget of the second phase was one of the disputed issues between the Kazakh government and shareholders of the consortium.

Turkmenistan to overhaul oil fields

In order to increase hydrocarbon production and modernize existing wells the state concern Turkmennebit (Turkmenneft) is conducting various activities together with foreign experts, the Ministry of Petroleum and Mineral Resources said.
Turkmen oilmen in collaboration with Tatneft, Yugneft, Sinopec companies are conducting overhaul in the fields located in the west of the country, by introducing the most advanced technology.
According to the information, in addition, work is underway on protection of the wells from sand, water, clay fractions, to increase the impact of oil wells and flow rate.
Ashgabat hosts international oil and gas conference OGT-2012

A three-day international exhibition and conference Oil and Gas (OGT-2012), organised by the Ministry of Industry and the Chamber of Commerce of the country with the participation of British Summit Trade Events Ltd opened in Ashgabat on Wednesday.

According to the organisers, the representatives of the world's business community will receive information about the status and prospects of the oil and gas industry and given the opportunity to determine the forms of future cooperation and investment opportunities in the Turkmen market.

Itera implements project in Turkmen sector of Caspian Sea

The total cost of the project to develop oil and gas resources of Block 21 in the Turkmen sector of the Caspian Sea will be $5-6 billion, $300 million of which accounts for investments during the exploration phase, First Deputy Chairman of the Management Board of Itera Gennady Skidanov said on the eve of the 17 th International Conference Oil and Gas of Turkemnsitan. Currently processing and interpretation of seismic 2D/3D data, performed with the assistance of a database of previous research within Block 21, is completed. Thus obtained geological and geophysical materials allowed to determine the spatial and depth limits of identified promising objects, and to assess the hydrocarbon resources for the planning of exploration drilling.
Skidanov noted that as a result of geochemical studies five anomalous zones prospective for hydrocarbons were found in Block 21, areas for priority search were identified. It is about the eastern and north-western parts of the structure of West Erdekli.

Lukoil Uzbekistan launches next stage of equipping gas condensate fields

The Lukoil Uzbekistan Operating Company (operator of the Lukoil national company in Uzbekistan) has approved a working draft of equipping the gas condensate fields of South-Western Hissar in the Kashkadarya region (south of Uzbekistan) with necessary facilities, the operator said. 'According to the project, the fields 'reserves are estimated at 82.3 billion cubic meters and the maximum volume of production in the period of constant selection will exceed 4.2 billion cubic meters of gas per year', the report said.

Seven fields have been explored in the contract area of South-West Hissar. The Southern Kyzylbayrak and Koshkuduk oil fields have been exploited since 2008. The development of gas condensate fields Adamtash, Gumbulak and Jarkuduk - Yangi Kyzylcha started 2010. Drilling of the wells is under completion. The facilities with 'early gas' in the Jarkuduk-Yangi Kyzylcha field, five exploitation wells, a gas gathering station, a gas pipeline and ensuring production of 1.1 billion cubic meters of gas a year were put into operation within the project in December 2011.
It is planned to drill more than 40 wells, to construct a line of external power supply, a system of collection and preparation of gas and engineering infrastructure facilities to ensure putting the fields into operation on time. A total volume of investments will reach more than $1.2 billion.


/Trend/