Bulletin Political News
Bulletin Economical News
Bulletin Energy News
Bulletin Finance News
Markets review
Political Monitoring
Economic Review
* * *
Want to Say
Photo sessions
Actual report
Significant Azeris
«Georgian case»
* * *
Enter Main - TURAN.AZ AZ ... RU

Energy news
Bulletine Energy 

2017 October 11 ( Wednesday )  10:27:53
Print version


Statoil Discovers Oil Field on British Shelf

Baku/11.10.17/ Turan: Norwegian Statoil ASA has discovered an oil field on the British shelf. Its reserves are estimated at 130 million barrels, the company said in a press release.

"We confirmed the presence of oil in high-quality oil sands with good reservoir performance, but much work remains to be done," Geza Everti, Statoil"s Senior Vice President for Geological Exploration in the North Sea, is quoted as saying. -0-

Price of Oil Growing Due to News on Reduction of Saudi Arabian Exports

Baku/11.10.17/ Turan: World oil prices noticeably grow amid reports of Saudi Arabia"s export decline in November, according to the auction, RIA Novosti reported.

As of 23:57 Tuesday, the price of December futures for the North Sea oil blend of Brent rose by 1.42% - to 56.57 US dollars per barrel. The cost of November futures for WTI crude oil rose by 2.54% - to $ 50.86 per barrel.

Investors continue to use information that Saudi Arabia is planning a record drop in oil exports in November. The State Oil Company of Saudi Arabia (Saudi Aramco) intends to cut shipments by about 560 thousand barrels per day - to 7.15 million barrels a day.

Now, market participants expect the release of data on the US oil reserves from the American Petroleum Institute (API) on Wednesday and from the US Department of Energy on Thursday. --0

Azneft Announces Production Figures

Baku/11.10.17/ Turan: Production Association (PA) Azneft (structure of SOCAR for oil and gas production) in January-September 2017 produced 4 million 624.8 thousand tons of oil and 3.87 bcm of gas.

According to the PA, over 9 months of 2016, Azneft produced 4 million 703.7 thousand tons of oil and 4.2 bcm of gas. Thus, oil production by the PA for the reported period in 2017 decreased by 1.7%, and gas production decreased by 7.9%.

Since the beginning of 2017, according to the order of the PA Azneft, 55 new wells have been commissioned, and as a result 91,000 tons of oil was additionally extracted.

Out of the idle fund, 81 wells were returned to the operating in January-September 2017 and 42.6 thousand tons of oil was additionally extracted.

* According to the plans, in 2017, Azneft plans to produce 6.3 million tons of oil and 5.55 bcm of gas.

SOCAR Commissions New Well in Caspian Sea

Baku/11.10.17/ Turan: SOCAR will additionally produce about four thousand tons of oil annually due to commissioning of a new well in the offshore field Neft Dashlari (Oil Rocks), the State Oil Company said.

Oil with a debit of 11 tons per day will be extracted in the range of 1,840 - 1,836 meters.

It should be noted that the field Neft Dashlary has been developed since 1952. -12B-

Historical Artifacts Discovered during Construction of TANAP Pipeline

Baku/11.10.17/ Turan: During the construction of the TANAP pipeline in the province of Kutahya in the west of Turkey, historical values ​​as well as ancient tombs dating back to the Roman Empire were discovered.

According to the administration of the Governorate of the Kutahya province, at the present time excavations are being conducted at this site in order to investigate the discovered historical values.

The report also says the discovery of historical artifacts had no impact on the progress of construction work on the TANAP project.

Earlier in a number of Turkish provinces, during the construction of the TANAP pipeline, ancient tombs and other historical artifacts were discovered.

It should be noted that the physical work on the construction of the Trans-Anatolian pipeline has already been completed by 82 percent. The total length of TANAP is 1,850 kilometers. -0

81-year-old Vice-President of Azerenergy Has Health Problems

Baku/11.10.17/ Turan: The Vice-President of Azerenergy OJSC Marlen Askerov is facing health problems. Marlen Askerov explained the report on the situation with his health and said he is currently continuing treatment at home in the countryside.

According to information, because of health problems, Marlen Askerov has lost the ability to walk. For this reason, it is expected that he will be operated on in the coming days.

It should be noted that Askerov was born on November 17, 1936 and is an electrical engineer. Since October 2005 he has been the Vice-President of Azerenergy OJSC. -0-

Free Gas Use Era Ended in Turkmenistan Due to Crisis

Baku/11.10.17/ Turan: It is considered expedient to gradually introduce payments for the use of electricity, gas, water and salt. Such a statement was made on October 10 during the speech at the Council of Elders by Turkmen President Gurbanguly Berdymuhammadov, the press service of the head of state said.

"The main goal of granting unprecedented benefits in those years was the creation of favorable conditions amid the difficult economic situation in the world, and the adaptation of citizens to the market economy conditions," the head of state said.

According to him, the deep integration of the country"s economy into the market relations system requires careful, rational, economical and highly efficient use of the national wealth.

Recall that for the first time the proposal to abolish free benefits was voiced during the meeting of the Council of Elders in 2015. In April 2016 Berdymuhammadov agreed with the proposal, stating that the benefits "do not justify themselves" and "hamper the transition to a market economy."

However, later, in June 2016, the head of state suddenly announced that the country"s budget allows saving benefits for the population.

A year later, in June 2017, the President again stated that the system of benefits had become completely ineffective and ordered them to be canceled, adding that "benefits should not be given to everyone in a row, but only to those who really need social assistance."

However, as experts note, the state budget of Turkmenistan is formed by 80% due to the export of gas and gas products. Since 2016, gas prices have fallen dramatically. In addition, Russia has refused to purchase Turkmen gas, and Iran has not been able to fully pay for gas imports of more than 7 bcm. -0

High-Yield Well Launched in Galkynysh Gas Field

Baku/11.10.17/ Turan: Specialists of Turkmengaz Engineering and Construction Department of Turkmengaz State Concern launched Production Well No. 280 in the Galkynysh gas field. The production rate of the well is 2 mcm of natural gas per day.

According to Turkmengaz, for the first time in the gas production, the installation of technological equipment and wellhead control instruments was carried out by the Turkmengaz Group"s own specialists without involving foreign companies.

Electric assembly, high-precision welding and other kinds of works at the wellhead were carried out by specialists of Turkmengaz using equipment from Petrofac (UAE).

Now brigades of the Turkmengaz Engineering and Construction department complete the installation of equipment and metric control devices and prepare for the launch of three more high-yield wells in Galkynysh that will be also connected to the export gas transmission system.

From the Galkynysh field gas is exported to the People"s Republic of China. --0-