Page 14 - FSUOGM Week 19 2021

FSUOGM NEWS IN BRIEF FSUOGM

In January 2021, Gazprom transported CENTRAL ASIA & SOUTH additional 184 wells have been overhauled.
124.51 mcm per day on average through Bakhrambek Ismailov, head of the
Ukraine; in February, 104 mcm, and in CAUCASUS Regional Business Unit Central Asia, ERIELL
March, 119.5 mcm. Group, said: “In the face of many technical
Petro Matad makes and logistical challenges, we were able to
complete the required works successfully
Nord Stream 2 completion progress in Mongolia and on time, with our specialists displaying
high levels of expertise and commitment.
expected end-Sept Petro Matad Ltd, a Mongolia-based I believe our dynamic and highly efficient
team was instrumental in unlocking the
and London-listed oil exploration and
Russia's pipeline to Germany via the Baltic development company, on May 10 said full potential of these assets and providing
Sea Nord Stream 2 (NS2) may be completed that the Mongolian Mineral Resources feedstock for the Ustyurt Gas Chemical
by late September, before Germany’s Professional Council has agreed to approve Complex. Collaboration between ERIELL
parliamentary elections on September its plan for the development of Heron field, Group and Uz-Kor Gas is yet another
26, according to Sergei Nechaev, Russia’s Alliance News reported. example of achieving stable gas supplies
Ambassador to Germany, as cited by The company said that the plan would be from the country’s own resources, producing
Vedomosti daily. approved once some technical clarifications value-added products as well as satisfying
"The latest indications from high-level was provided. The items requiring Uzbekistan’s growing energy needs.”.
Russian sources indicate NS2 should be clarification have been received from the
completed by end-September, in line with council, Petro Matad said.
our expectations, if less optimistic than "We are pleased to have received Eriell Group works over 328
some. We think the completion of NS2 the support of the Mineral Resources
remains a material catalyst for Gazprom Professional Council for our Heron field Uzbek wells
[shares]," BCS Global Markets commented plan of development and we are working
on May 11. with the designated representatives to International oilfield services group
Previously various timescales indicated provide clarification and complete any ERIELL has announced it has completed
that NS2 could to be finished no later than minor amendments as soon as possible," the workover of 328 gas wells as well as the
September, BCS GM markets reminds, said chief executive Mike Buck. commissioning of seven new gas wells in
while affirming a Buy call on Gazprom's the Kashkadarya and Bukhara regions of
shares. Uzbekistan.
In early April, Pavel Zavalny, Head of Eriell wins Uz-Kor contract “We are very pleased that, as a result
the State Duma Committee on Energy, had of our successful collaboration with
postulated that both lines of NS2 could for oilfield works Uzbekneftegas, 328 wells were given
be finished as early as June, while earlier a complete workover and are back in
estimates had put Line B being finished by International oilfield services group ERIELL operation. We are also delighted to have
June and Line A, on which construction said it has won an Uz-Kor Gas Chemical brought online seven new wells, which
only recently restarted, seeing completion tender and has signed a contract to work on proves the world-class nature of our onshore
in September (in-line with BCS GM 150 wells in the Surgil field in the Republic gas play. The investments made into this
assumption). of Karakalpakstan, northwestern Uzbekistan. extensive work also help Uzbekistan
"Given the negative headlines generated The tender involves ERIELL Group carrying meet the growing gas demand. This gives
around the line over the last few years, we out workovers and side-tracking works at the us confidence that we are well on track
think Nord Stream-2’s physical completion bottom of the Aral Sea. with progressing the state program of gas
– even if continued sanctions efforts by The project is to be implemented in line commercialization and monetisation in
the US government keep shipments from with presidential decrees on the construction Uzbekistan,” said Bakhrambek Ismailov, head
beginning immediately – will be positive for of the Ustyurt Gas Chemical Complex. It is of RBU Central Asia, ERIELL Group.
Gazprom’s stock," senior oil and gas analyst to utilise gas from the Surgil field. Founded in 2004, ERIELL Group provides
Ronald P Smith argues. As things stand, preparatory works have well construction and workover services to
Furthermore, as BCS GM expects Line begun to allow the implementation of radial major oil and gas companies in Central Asia,
B indeed to be finished by mid-summer, drilling technology - an innovation used the Russian Federation and the Middle East
the de-risking of Gazprom’s stock could to stimulate oil and gas wells by reaching It cooperates with leading Russian
start well before construction on the entire remote parts of productive geological and international companies such as
project is completed, be that in the summer formations. Rosneft, NOVATEK, Gazprom, Gazprom
or late September, Smith believes. Overall, at the Surgil field in Neft, LUKOIL, Uzbekneftegaz, Gazprom
Karakalpakstan’s Muinak region, ERIELL International, Petronas, CNPC, MOL Group
Group has completed the construction and others.
and commissioning of 85 wells, while an

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