It is planned to produce first gas from the Absheron gas condensate field in 2019, First Vice-President of the Azerbaijani state oil company SOCAR Khoshbakht Yusifzade said. He said that the reserves of the Absheron gas condensate field were estimated at 350 billion cubic meters of gas and 45 million tons of condensate, according to…
Malaysia’s oil and gas company Petronas will conduct exploration at the Goshadash structure in the Azerbaijani sector of the Caspian Sea, First Vice President of the Azerbaijan’s state oil company SOCAR Khoshbakht Yusifzade said. Yusifzade said that the exploration could be deepened in future, but currently general works, including seismic works, were underway. “If the…
The Southern Gas Corridor (SGC) project will enhance Azerbaijan’s role in forming eastern and western energy corridors, said the country’s Deputy Energy Minister Natig Abbasov. Despite the decline in oil prices, Azerbaijan continues to implement large transnational projects, said the deputy minister. As a country located at the intersection of Europe and Asia, Azerbaijan has…
Azerbaijan is considering the possibility of transporting Iranian gas through its territory to Europe, said Azerbaijan’s Deputy Energy Minister Natig Abbasov. He noted that it would become possible through Iran’s joining the Trans-Anatolian Natural Gas Pipeline (TANAP) project. Abbasov didn’t exclude possibility of transporting Iraqi gas through Azerbaijan to Europe. TANAP project envisages transportation of…
Germany’s antimonopoly authority Bundeskartellamt has approved of establishment of a joint venture between Russian oil major Rosneft and British BP called Yermak Neftegaz. Rosneft and BP signed legally binding documents to establish Yermak Neftegaz for geological exploration of fields in West Siberia and the Yenisei-Khatanga Basin in June. Under the agreement, Rosneft will own a…
Head of Luhansk civil and military administration Yuriy Harbuz said Chinese investors were interested in launching photovoltaic (PV) panel production in the region. “Recently I had met with investors from China under the industry development program. We are looking for an option to organize PV panel production here”, he said. He said that the region…
As part of the Technical Upgrading and Revamping Program, Transneft – Kozmino Port got down to two 100,000 square meter tank construction at the tank farm. A floating roof will be used in high tech structures of the new tanks, just as in other tanks with a similar volume, being operated in the tank farm…