Socar estimates proven hydrocarbon reserves at 4.5 billion tons

Socar estimates proven hydrocarbon reserves at 4.5 billion tons Azerbaijan`s proven hydrocarbon reserves are estimated at 4.5 billion tons of equivalent fuel, head of the state oil company Socar, Rovnag Abdullayev, said in Baku on Tuesday. Addressing a forum on the construction of a huge complex for oil and gas refining and petrochemical production in Azerbaijan, Abdullayev said the country`s projected hydrocarbon reserves are estimated at 10 billion... Read More

Is Total join to TANAP?

Is Total join to TANAP? French energy major company Total may join Azerbaijan-Turkish Trans-Anatolian pipeline project (TANAP), which will transport Azerbaijani gas from the eastern border of Turkey to the country’s western border, Bloomberg reported with the reference to Total E&P Azerbaijan general manager Christian Giudicelli. According to Giudicelli, Total was invited to take part in TANAP. “We are evaluating the Tanap proposal... Read More

EU wants ambitious and long-term solution to Southern Gas Corridor

EU wants ambitious and long-term solution to Southern Gas Corridor The European Union wants an ambitious and long-term solution to the Southern Gas Corridor and wants to see unified transportation framework for the shipping the Shah Deniz-2 gas, off other prospective Azerbaijani gas and eventually also Turkmen gas in the future, head of the EU delegation to Azerbaijan, Ambassador Roland Kobia said at a press conference in Baku on March, 06, 2012. Kobia... Read More

Romanian Transgaz to contribute to Nabucco’s budget

Romanian Transgaz to contribute to Nabucco’s budget The shareholders of Romanian National Gas Transmission Company Transgaz S.A. sanctioned a decision to contribute to the consolidated budget of Nabucco Gas Pipeline International GmbH (NIC), Romanian ACTMedia news agency reported with the reference to a statement sent to the Bucharest Stock Exchange on Friday. According to a decision, sanctioned by Ordinary General Shareholders Meeting of Transgaz... Read More

Shah Deniz-2 drilling plans announced

Shah Deniz-2 drilling plans announced Drillings of new test wells and boreholes as part of the second stage of the Azerbaijani Shah Deniz offshore gas condensate field development is not allowed until authorisation of the second phase, a source in the oil and gas market told Trend news agency on Monday. Currently work on the SDX-07а test well drilling is being carried out, the source said. “The second phase involves a multi-billion dollar... Read More