Total Oil

SOCAR to receive 20% in Tap project

SOCAR to receive 20% in Tap project

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Yamal LNG shareholders have agreed about exports at a rate of up to 50% of the plant's capacity

Yamal LNG shareholders have presented to the Ministry of Energy the data that they have agreed about LNG exports to the APO region at a rate of up to 50% of the LNG plant capacity, the Minister of Energy A. Novak says. These agreements are the recently signed contract with CNPC and the agreements with the traders about gas supplies to APO. Yamal LNG project proposes construction of an LNG plant with annual capacity of 16.5 million tons. the shareholders are Novatek and Total. Before October 1, CNPC is going to get a share of 20% in the project.

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Total increases its share in Novatek’s authorized capital

Novatek has received a notice from its shareholder Total E&P Arctic Russia about increase of its share in the Novatek’s authorized capital to 16%, the Russian company’s press centre reports.

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Tajikistan to sign an agreement with Total SA and CNPC

An agreement among the Government of Tajikistan and companies Total SA and China National Petroleum Corporation (CNPC) on joining of these companies to production sharing agreement will be signed in the capital of Tajikistan today. It is a question of acquisition of a share (33% by each of the companies) in the contract of sharing of production from oil and gas perspective areas, located in the territory of southern Tajikistan.
As it became known from the report of the Novosti Tajikistana, after the signing of the contract obligations to invest the search and extraction at perspective hydrocarbon areas in southern Tajikistan will be shared among three foreign investors.

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Tajikistan’s Gas Boom: Prosperity or Conflict?

hina’s vigorous quest to secure consistent gas supplies may help underwrite a natural gas-fuelled boom in Tajikistan, which so far has been Central Asia’s poorest and most energy-starved republic. A gas boom in Tajikistan will require astute financial and political management to minimize disruptions that sudden, large foreign investments and revenue inflows could cause. Dushanbe will also face foreign policy challenges from increased competition between Russia, which considers Tajikistan part of its Near Abroad, and China, which will likely become Tajikistan’s most important economic partner.
Tajikistan’s Bokhtar region – which at 35,000 square km is larger than the American state of Maryland – could hold as much as 114 trillion cubic feet of gas and 8.5 billion barrels of crude oil and/or condensate, according to Gustafson Associates.  As such, Tajikistan’s gas and oil reserve base could ultimately prove to be on par with that of the world-class offshore gas discoveries being made off East Africa. In March 2013, CNPC spent US$4.2 billion to purchase a 20 percent stake in Mozambique’s Area 4 from Eni of Italy. Area 4 could contain 75 trillion cubic feet of gas – enough to supply China’s annual consumption for 14 years, based on 2011 demand levels.  Yet in Tajikistan, CNPC could potentially access even larger reserves, with the added bonus that geographic and security constraints make them captive supplies for China’s large and growing natural gas market.

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Production of oil at the Kashagan deposit should start before September 2013 after another delay

The production of oil at the Kashagan oil deposit in the Kazakh sector of the Caspian Sea should start before September 2013, the Minister of Oil and Gas of Kazakhstan S. Mynbayev says. If it starts later then in accordance with the agreement of 2008 the consortium will bear expenses that will not be compensated by Kazakhstan.

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Integra to provide the services of operational drilling at Yamal LNG until 2018

The Group of companies Integra has signed a long-term contract on the providing of services to Yamal LNG (which shareholders are Novatek and Total). Within this contract Integra will provide the services of operational drilling on the basis of daily rate at the South-Tambei deposit, located in Yamal, the company reports.

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Novatek to attract at least 2 partners to Yamal LNG project

The largest independent gas producer Novatek is going to attract at least 2 partners to Yamal LNG project, the CFO M. Gateway says. The destiny of the project depends on the sales market and does not depend on the decision of the Russian Government about liberalization of LNG exports.  Novatek negotiates now about LNG supplies to Japan, and regard the APO market as the main priority. The current partner of Novatek in Yamal LNG project is Total.
Translated by Nadezhda Poltoratskaya       

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Rosneft, Lukoil and Novatek have successfully passed through the selection for participation in the tender for Lebanon shelf

Three Russian companies Rosneft, Lukoil and Novatek have successfully passed through the pre-qualification selection process for participation in the first license round for geological exploration at the Lebanon shelf, the Minister of Energy of Lebanon J. Basil says.

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Industrial gas production from Absheron will start in 2020

Industrial gas production from the Absheron offshore gas deposit will start in 2020, the President of Total Azerbaijan, C. Guticelli says. By 2014, Total will present to SOCAR the program of the deposit development. Within the first stage the company is going to annually extract 3-5 billion cubic m of gas. They will also perform the special work for the necessary infrastructure construction. Now Azerbaijan does not have a free semi-submersible drilling rig and that’s why no wells drilling is presupposed at the deposit.

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