The Russian company Lukoil and Japan's Inpex have successfully completed testing of the first exploration well Erida 1 at Block 10 in southern Iraq.
Kazakhstan plans to increase oil exports to China by almost 3 times by the re-commissioning of the Kashagan deposit.
In January-October 2015 the State Oil Company of Azerbaijan (SOCAR) will pump 14 million 549.129 thousand tons of Azerbaijani oil via Baku-Tbilisi-Ceyhan (BTC), a message posted on the official website of SOCAR informs. In comparison with the same period of 2014 the export of oil via BTC dropped by 2 million 727.342 thousand tons, or by 15.8%.
Japanese companies hope to continue cooperation with Azerbaijan within further development of Azeri-Chirag-Guneshli blockEdited by Rhod Mackenzie / 2015-10-27 05:13:56
The Japanese companies Itochu and Inpex plan to continue their cooperation with Azerbaijan in the framework of the further development of the Azeri-Chirag-Guneshli block, the Ministry of Energy of Azerbaijan reports.
The participation of the Japanese companies in this project and in the construction of the Garadagh oil and gas processing and petrochemical complex was discussed by the Energy Minister, Natig Aliyev at the meeting with the Minister of Economic Revival, Social Protection and General Reform of Taxes, State Minister for Economic and Financial Policies of Japan Akira Amari in Baku.
Details of CIS Petrochemicals ,the leading event in Russia http://www.globuc.com/cispetrochemicals/
In January-July 2015 the Baku-Tbilisi-Ceyhan (BTC) pipeline, through which most crude oil in Azerbaijan it exported, transported 3.7 million tons of Turkmen oil compared to 3.1 million tons transported in the same period in 2014, the report of the State Statistics Committee of Azerbaijan for January-July 2015 informs.
In 2014 the BTC transported 5.6 million tons of Turkmen oil compared to 3.3 million tons transported in 2013.
In H1, 2015 the Azerbaijani International Operating company (AIOC), which develops Azeri-Chirague-Guineshly block of oil fields in the Azerbaijani sector of the Caspian Sea, produced the same volume of oil as during the six months of 2014.
According to an operator of the project BP Azerbaijan, oil production at the AChG block of deposits made up 641 thousand barrels of oil a day in H1, 2015. It reached 661 thousand barrels a day in the first quarter,
SOCAR and the largest oil company of Japan – INPEX – have discussed the issues of participation in joint projects in Azerbaijan and overseas. This issue was discussed in the framework of the visit of delegation of SOCAR headed by its President, R. Abdullaev, to Japan and his meeting with the President of INPEX Corporation, T. Kitamura.
The Vice-Presidents of SOCAR, S. Gasymov and T. Gakhramanov, extraordinary and plenipotentiary Ambassador of Azerbaijan in Japan, G. Islamadze, Vice-President of Inpex in Eurasia and Middle East, Y. Kanekhara, Vice-President of the company on the management over the assets in the projects “Azeri-Chirag-Gyuneshli” and “Baku-Tbilisi-Ceyhan”, A. Kurashina, participated in the meeting.
On Thursday Azerbaijan International Operating Company (AIOC the operator of the Azeri-Chirag-Guneshli fields) had stopped for 22 days production at the platform on the western part of the Azeri field, the press service of the AIOC told "Interfax-Azerbaijan".
"The work to stop the platform is maintained in accordance with the previously approved plan and is part of the annual work program on the Azeri-Chirag-Guneshli block of fields", - the company informs.
In February 20151.630 mln tons of Azeri oil were exported to the world market from the Turkish port Ceyhan, that is by 230 thousand tons more or by 16.4% against February 2014, the Department of Marketing and Economic Operations of SOCAR reports.
“In Jan-February 2015 the export of the Azeri oil from the Ceyhan port made up 3.328 mln tons, by 336 thousand tons or 11.2% more against the same period in 2014”, is reported.
The BTC oil pipeline was put into operation in July 2006. The length of the pipeline is 1,768 km.
The shareholders of BTC Co are: BP (30.1%); AzBTC (25.00%); Chevron (8.90%); Statoil (8.71%); TPAO (6.53%); ENI (5.00%); Total (5.00%), ITOCHU (3.40%); INPEX (2.50%), Conoco Phillips (2.50%) and ONGC Limited (2.36%).
In November, the price of Azeri oil BTC FOB Ceyhan fell by 35%, the marketing and economic operations department of SOCAR reports.
SOCAR oil exports from Ceyhan were 1.012477 million tons in November. It was supplied via BTC pipeline.
The global markets evaluated Brent by $78.90, Urals by $78.92, and BTC FOB Ceyhan by $79.70 in November 2014.
BTC pipeline with length of 1,768 km was launched in July 2006.