OKIOC: Pending Big Oil
In late July the management of OKIOC officially confirmed that immense oil reserves have been found at the East Kashagan field in the Kazak sector of the shelf of the Caspian Sea, OKIOC senior manager Ê. Dallard reported. details >>
TCO: The Most Intriguing Deal
The official procedure of signing the agreement between the Government of Kazakhstan and Chevron Overseas Corporation on the purchase of a 5% stake in Tengizchevroil took place late in August. details >>
Export of Kazakhstan's Oil: The West Dominates
Kairgeldy Kabyldin, Vice-President of KazTransOil Of the three directions of Kazakhstan oil exportation, the Western direction is considered to be dominating as to the quantity of used, projected and prospective routes. Also, the main export volumes will be directed to the Black Sea and Mediterranean regions. details >>
Rehabilitation of CPC Pipeline
To date the Caspian Pipeline Consortium is the only project being really implemented of all proposed projects for transportation of Kazakhstan oil to world markets. The CPC construction moves according to schedule.
The Turkish company Tekfen won the last of five main contracts of CPC for modernization of the Kazak section of the Tengiz-Novorossiisk pipeline. Today we have a talk with Ilkham Ildenis, regional manager of Tekfen in Kazakstan. details >>
Produktive Assets of KazTransOil Cost T111 bln
For revaluation of committed assets KazTransOil selected the American Appraisal (AAR) Inc. which evaluated the main group of productive assets at T111 bln as of December 31, 1999. details >>
Port of Aktau
Completion of reconstruction of the port of Aktau funded by European Bank for Reconstruction and Development ($54 mln) has turned it to one of the most advanced and technically equipped ports on the Caspian See. Annual potential throughput capacity of the port has increased to 1,5 mln tons of dry cargo and 8 mln tons of oil. details >>
Transportation
Feasibility Study of Iranian Oil Transportation Project is under Development.... details >>
DOWNSTREAM
Recurrent Crisis on the Oil Products Market
Export of diesel fuel from Kazakhstan was banned since July 1. The press-service in the Ministry of Energy, Industry and Trade informed that the Government has taken this action temporarily until 1st of October in order to supply domestic agricultural producers with diesel fuel before the forthcoming harvesting campaign. details >>
Reconstruction of Atyrau Refinery Is Postponed Until 2003
As K.Tokaev stated the government is ready to grant guarantees for borrowed funds to reconstruct the Atyrau Refinery. However they could be provided only next year as according to agreements with IMF the limit for state guarantees has been already used up for this year. The Kazak party managed to reduce the value of the Japanese project from $400 mln to $300 mln. Getting the state guarantee for $200 mln is in question. details >>
INVESTMENT CLIMATE
Asian Davos
Economic Summit brought together in one «spot» all the planet's biggest capitals and representatives of all major countries. It's very likely that one day this Summit will become one of the most important and biggest economic forums to be held on a regular basis.
One of the main results of the Summit was the confirmation of international community on Caspian resources. details >>
Petroleum cardinal
Following the successful completion of the deal, James Giffen gained the reputation of a talented negotiator and tough businessman. He elaborated a strategy for Kazakhstan to conduct negotiations involving the sale of concessions for the development of Caspian blocks by OKIOC. In 1996 an instruction of the Prime Minister was issued that the Mercator company would be Government’s consultant in all oil and gas projects until the end of 2000 details >>
ECONOMICS
Oil Fund To Be Established in Kazakhstan
Kazakhstan is planning to establish an oil fund worth of $1 bln at minimum in order to secure future generations with profits from the country's raw riches. details >>
NEIGHBOURHOOD
The Khvalynskoye Oil Field: Who Is the Owner?
In late March, the Russian company LUKoil discovered oil at the Khvalynskoye field on the Caspian. The Russian party estimated its recoverable reserves at 300 million tons. details >>
Baku Becomes a Gas Importer
Azerbaijan has officially announced its intention to import 2 bln cubic meters of gas annually. Supply will most likely start in October.
Annual gas extraction in Azerbaijan is equal to 6 bln cubic meters; at the same time national demand constitutes 14 bln cubic meters. details >>
Gas OPEC
An idea to create a «gas OPEC» first appeared a year ago. At that time, a majority of the specialists saw it as absolutely hopeless. details >>
Baltic Pipeline System Goes On
The president of Russia Putin stated that financing and construction of the Baltic Pipeline System (BPS) is of strategic importance for energy and transport security of Russia. Based on various estimates, currently Russia loses about $1,5 bln from cargo transportation through the ports of Baltic countries. details >>
Iran's «Gas» Enlivening
Tehran began active backstage negotiations aimed at calling of a special meeting of the states - gas exporters, which should take place in Iran in the nearest future. Experts believe that the reason for such activity is Iran's intention to establish a single organization of the states-gas exporters, which will be a pro-type of OPEC - organization uniting oil producing states. details >>
Redistribution of Industry Is a Normal Occurrence
Last year 50% of shares in the Kherson Refinery were transferred for management to Kazakhoil. The Group Alliance deals with the coordination of this project as well as supplies of Kazakhstani oil to Ukraine’s refinery. The Kazakhstani audience will be interested to read the interview with the acting president of Group Alliance Ìusa Bazhaev given to one of Russia’s magazines. Here he tells about the business and development strategy of the company. details >>
Industrial Radiation Safety
Timur Zhantikin, Chairmen of Kazakhstan Atomic Energy Committee
Hydrocarbon and prospecting companies using ionizing radiation sources in their activities, should have a license to work with such sources. details >>
Golden Telecom in Kazakhstan
Golden Telecom is one of the leading telecommunication holdings in Russia and CIS. It appeared in July 1999 when a US Global TeleSystems Group (GTS, Inc.) merged all of its Russia/CIS assets. details >>
Pre-Mature Space Launch
The personal satellite system Iridium -one of the most ambitious telecommunication projects of 20th century, which cost $5.5 bln - has failed. details >>
Geological Studies of the Caspian Shelf
In 2000 the republic celebrates the 75th anniversary of the Kazakhstan geophysics. The article resents the history of development of geophysics of Kazakhstan, its progress, analysis of activities and future forecasts. details >>
LEISURE
A Trip to Big Buddha
You may want to know how to locate Big Buddha. Many people in Almaty know a little bit about Big Buddha, and they regard that name as a geographical place as well as the thing that is there when you arrive. However, it is rare to find anyone who has actually visited Big Buddha and even rarer to find anyone who claims to know anything about Big Buddha. details >>
