KAZAKHSTAN WON A VICTORY FOR KASHAGAN
Kazakhstan and the participants of the international consortium Agip KCO have reached an agreement on “the country's principal participation as a shareholder” in the project for Kashagan field development. The agreement was reached in London in the course of talks between Kazakhstani representatives and Agip KCO consortium members regarding the Kazakhstan's purchase of BG Group's share in the North-Caspian project. The Energy and Mineral Resources Minister Vladimir Shkolnik stated this at a briefing in London. Over the last few years Kazakhstan had repeatedly emphasized its interest in the participation in the Production sharing agreement for Kashagan field. details >>
ADVANTAGES OF PREEMPTIVE RIGHT
The amendments adopted by the Parliament show that today Kazakhstan may not only grant the rights to subsoil use but to return them back for strategically significant fields which underwent the stage of exploration. details >>
NR BUYS THE FOURTH KAZAKHSTANI COMPANY
At an open auction held by KazMunaiGas on November 24, 2004 Nelson Resources Limited (NR) offered a maximum price of KZT1.4 bln ($10.8 mln) for 50% share in LLP Arman. Starting price of the share was KZT1.27 bln, NP press service reported to Oilreview.kz. details >>
CHINESE DRAGON COMES TO ATYRAU
Chinese company Sinopec has purchased US-based First International Oil Company (FIOC) holding oil assets in Atyrau oblast, for more than $160 million. details >>
CASPIAN
OFFSHORE INFRASTRUCTURE DEVELOPMENT
The year 2004 is drawing to its close, and this allows one to sum up results of the passing year. This year was successful for the oil and gas sector of Kazakhstan, but the far-reaching plans of the industry are yet to come. They are linked to the Caspian development. The efficient implementation of large-scale oil and gas offshore operations needs to be supported by the advanced development of the latest industrial and social infrastructure. details >>
SHARING PROJECT RENT
It is important that Kazakhstan feels that it is receiving the fair share of its oil wealth to which it is entitled. But to make that wealth flow, investors also need to have a return that is competitive by international standards. Inevitably, this leads to a process of trial and error to find the balance that will serve the needs of both sides. It seems clear that the answer will lie in developing a range of terms for different types of opportunity. details >>
COMMENTS ON THE DEVELOPMENT OF THE KAZAKHSTAN CASPIAN SECTOR
A key to the success of developing Kazakhstan's offshore petroleum industry is the long-term relationship between Kazakhstan and its industry partners. This relationship is increasingly important as Kazakhstan, as one of the major hydrocarbon resource holders, prepares to play its role in expanding its productive capacity against the background of expanding world oil demand. The international oil companies remain ready to play their role. Their ability to contribute will depend on whether the conditions the government sets will leave enough space for them to be able to add real value. details >>
LUKOIL TO DRILL AT TYUB-KARAGAN
Upon completion of processing and interpreting the seismic data, the project participants are planning to drill the first exploration well in the Tyub-Karagan structure in 2005. details >>
CPC: TO EXPAND IN A TIMELY MANNER
New export routes from the Caspian are fully justified by the region's oil field developments and will provide exporters with choices. CPC has a competitive advantage but will retain that advantage only if it is expanded in a timely manner. details >>
ATASU-ALASHANKOU: IT HAS BEEN COMMENCED
An opening ceremony of Atasu-Alashankou pipeline construction was held at Atasu settlement on September 28. Energy and Mineral Resources Minister Vladimir Shkolnik, KazMunaiGas President Uzakbai Karabalin, CNPC President Chen-Gen and KazStroyService General Director Erlan Upushev took part in this event. details >>
KMG STARTED ASSETS RESTRUCTURING
KazMunaiGas plans to sell 40% interest in Karakudukmunai, 50% interest in LLP Arman, 69% interest in LLP KazMunaiGas-Telf and 52.69% share in LLP Embavedoil until yearend. The auction will be held by an English method in order to determine a market price of the shareholding sold. details >>
KARACHAGANAK HYDROCARBONS FOR THE BENEFIT OF THE NATION
The International consortium Karachaganak Petroleum Operating B.V. (KPO), operating the gigantic Karachaganak oil and gas condensate deposit (West Kazakhstan Oblast) with reserves of liquid hydrocarbons of more than 1.2 billion tonnes and 1.3 trillion cubic metres of gas, entered international markets this year. The delivery of stabilised condensate and light oil produced at the deposit to global consumers through the CPC pipeline system began during spring of 2004. This has become probably the most important event for KPO for the current year. This is how the consortium has proceeded to the next stage of its development. details >>
CPTDC: New Technologies – Way To Success
With the annual increase in oil and gas production in Kazakhstan a demand is steadily growing for technological equipment to be used in oil and gas operations. At present, well maintenance requirements became stronger due to toughening of ecological requirements and need for making well-workover operations. details >>
CONOCOPHILLIPS PURCHASED LUKOIL'S STATE SHAREHOLDING
ConocoPhillips purchased the last LUKOIL'S shareholding owned by the state amounting to 7.59% in authorized capital stock for $1.988 bln via Spring Time Holding Ltd registered on British Virgin Islands, AK&M reported. There are three companies participating in the auction, Promsvyazbank and Promregionholding in addition to Spring Time Holding Ltd. details >>
COMPETITION FOR RUSSIAN OIL
Decision on building a pipeline to Datsin (China) maybe taken until the end of the year in case ecological assessment of the project is finalized, Economic Development Ministry Head German Gref reported. Answering the question as to loading the pipeline, Gref said: "At the first stage it would be 20-30 mln tons of oil produced mainly in West Siberia". details >>
NEIGHBOURS' NEWS
Gasprom Board Chairman Alexei Miller signed a Resolution of a founder on establishing Gaspromneft. Sergey Bogdanchikov, President of NC Rosneft is appointed as General Director of the new company, which is created by the accession of Rosneft to Gasprom. details >>
