Page 9 - AfrOil Week 33

AfrOil NRG AfrOil

Turkey has previously drilled wells in waters same period of 2020.
claimed by Cyprus. Yavuz is currently one of two Natural gas exports fared somewhat bet-
Turkish drillships in the Eastern Mediterranean, ter, with shipments climbing from 6.7bn cubic
and a third is reported to be coming to the region metres in January-July 2019 to 7.7 bcm in the
soon. same period of 2020. The value of the country’s
European Union foreign ministers have held gas exports climbed from $1.2bn to $1.4bn.
urgent talks on the matter, with Turkey indicat- The country’s output of gasoline expanded
ing a willingness to enter a dialogue with the bloc 0.3% year on year in the period to 715,900
over the issue. However, there is no sign of the tonnes, while diesel production grew by 4.4% on
tensions being scaled down as yet. the year to 1.3mn tonnes. Investment in Azer- Azerbaijan
Meanwhile, normal oil and gas operations baijan’s oil and gas sector grew by 22.9% y/y to
– and decommissioning – continue in other AZN3.4bn ($2bn) in the first seven months. expects to start
European waters. This week, offshore contrac- Azerbaijan produced 554,100 barrels per day
tor Allseas announced that it had completed the of crude in July and another 96,000 bpd of con- up the Karabakh
removal of processing and accommodation top- densate, according to the Energy Ministry. The field in the
sides and flare jackets as part of the Tyra redevel- Azeri-Chirag-Guneshli field delivered 435,100
opment project for Total in Danish waters. The bpd of crude, while State Oil Company of Azer- Caspian Sea
structures will be transported to specialist yards baijan Republic (SOCAR) produced 119,000
in Denmark and the Netherlands for recycling. bpd. The country has agreed to limit its pro- before the end
A new platform will be installed at Tyra, which duction to 554,000 bpd in May-July under the
produces around 90% of Denmark’s gas output, OPEC+ production framework. of 2022
by 2022. Looking further ahead, the county expects to
Allseas is now preparing to remove the Nin- start up the Karabakh oil and gas field in the Cas-
ian Northern platform, which is located east of pian Sea before the end of 2022, the head of the
Shetland in the UK North Sea. This will be the Karabakh operating company, Tahir Dadashov,
final job of the year for Allseas’ Pioneering Spirit told Reuters last week.
heavy-lift vessel, which also carried out the Tyra “In the early years, oil production at the
removals. Karabakh field will amount to more than 1.5mn
tonnes per year [30,000 bpd],” Dadashov said on
If you’d like to read more about the key events shaping August 12. He added that gas production would
Europe’s oil and gas sector then please click here for reach 4.5mn cubic metres per day.
NewsBase’s EurOil Monitor. The Karabakh operating company, which is
a joint venture between SOCAR and Norway’s
FSU: Azeri export volumes steady Equinor, has been developing the field since May
While Azerbaijan kept export volumes of crude 2018. Dadashov estimates the field has 21mn
and oil products steady in the first seven months tonnes (153,93mn barrels) of recoverable oil
of this year, according to local media reports cit- reserves.
ing State Customs Committee data, the value of The executive said support blocks for a new
the shipments plunged. platform would be installed in the first quarter of
The Central Asian country sold 19.5mn next year, with engineering works on platform to
tonnes of petroleum in January-July, flat on the be wrapped up by the end of 2022.
19.5mn tonnes exported in the same period of
2019, AzerNews reported on August 17. The If you’d like to read more about the key events shaping
value of said exports, however, slid from $9.5bn the former Soviet Union’s oil and gas sector then
in the first seven months of 2019 to $6.3bn in the please click here for NewsBase’s FSU Monitor .

Week 33 19•August•2020 www. NEWSBASE .com P9