Page 12 - FSUOGM Week 38 2021

FSUOGM PROJECTS & COMPANIES FSUOGM

Singapore firm wins seismic

contract in west Turkmenistan

TURKMENISTAN A Singapore-based company called Yug-Neft- to bring it into commercial development was
egaz has won an international tender to under- launched in 2018. The Turkmen government has
Goturdepe is situated take exploration activities at the Goturdepe been seeking investors for North Goturdepe for
near the Caspian Dea oilfield in west Turkmenistan, local state media years but is yet to forge any partnerships.
some 90 km from reported on September 16. Russian oil company Tatneft is also active at
Balkanabat. It is one of The oilfield services group, which according the Goturdepe field, and in December last year
Turkmenistan's oldest to its website is active in Azerbaijan, Tunisia and its contract for enhanced oil recovery (EOR)
fields. Turkmenistan, will undertake a 3D seismic sur- at the site was extended for another eight years
vey at Goturdepe, as well as a 2D seismic survey until 2028.
at the South Burun area. Yug-Neftegaz’s owners are Panama-regis-
Goturdepe is situated near the Caspian Sea tered Moston Foundation and Ukrainian busi-
some 90 km from Balkanabat and is one of Turk- nessman Igor Burkinskiy, who also serves as the
menistan’s oldest oilfields. It was first drilled in company’s director. It has been carrying out seis-
1948 and was brought into production in 1959. mic surveys at Goturdepe and other Turkmen
Its operator is state oil concern Turkmenneft. fields for more than a decade. In 2019, it was
Turkmen geologists discovered another revealed that it had agreed a new investment
field nearby, North Goturdepe, in 2010. The project with Turkmenneft to drill 60 exploration
field straddles the Caspian shore, and a project and production wells in the country.™
NEWS IN BRIEF

RUSSIA success in its latest attempts," the BCS GM foreign markets, potentially driving down
analyst believes, attributing the shift to the revenues.
Russian oil major Rosneft simultaneous launch of Nord Stream 2 and
record-high gas prices in Europe.
gets closer to gas exports additional 10bn cubic metres of exports as Russia to suspend gas
While Rosneft’s oil business is huge, an
The Russian Ministry of Energy will report it’s requesting would move the needle only supplies via Sila Sibiri
to the government on potentially allowing relatively modestly for either company.
state oil giant Rosneft access to gas exports However, BCS GM still expects strong pipeline Sept 21-29
"in the coming days", according to Interfax resistance from Gazprom not to allow other
quoting Vice-Prime Minister curating the players other than Rosneft to follow. Gas supplies via Russia’s Sila Sibiri natural
energy sector Alexander Novak. Consensus expectation for EBITDA gas pipeline will be suspended from
As covered in detailed by bne for Rosneft for 2021 is $30bn, BCS GM Wednesday through September 29 due to
IntelliNews, most recently Russia’s most reminds, and calculates that exporting 10 scheduled technical maintenance, gas giant
influential oilman, Igor Sechin, head of bcm in the course of a full year at a gas price Gazprom said in its Telegram channel late
Rosneft, has renewed his push to allow the of $400 per 1,000 cubic metres would make on September 19.
company to export gas by pipeline, in spite $4bn in revenues, which would net to $2bn The timetable for the technical
of Gazprom’s monopoly over these supplies. given pipeline tariffs and others costs. operations twice a year, in spring and
"Rosneft’s long-running attempts to "Gazprom’s EBITDA for 2021 and 2022 in autumn, was agreed by Gazprom and
break Gazprom’s export monopoly may will likely exceed $40bn each year, so on China’s CNPC in 2020.
finally bear fruit, with the launch of Nord the face of it, the above value transfer
Stream 2 and record-high European gas would be of smaller importance for it.
prices providing the impetus required to However, the issue for Gazprom is not so Russian oil exports to China
change long-standing policy," BCS Global much the potential loss of 10 bcm or 5%
Markets commented on September 15. of our long-term assumption of 200 bcm fall 1.7% to 6.53mn tonnes
The analysts see the potential policy year of European exports. Rather, it is the
change as more negative for Gazprom than potential impact on overall pricing as a in Aug
positive for Ronseft, while maintaining a result of Russian gas-on-gas competition in
Buy call for shares of both companies. European gas markets," Smith writes. Russia’s oil exports to China decreased
Senior BCS GM oil & gas analyst Ronald Sechin and his company have long 1.7% on the month to 6.53 million tonnes
Smith reminds that all previous attempts by coveted Gazprom’s role as Europe’s biggest in August, Bloomberg reported on Monday
Rosneft to access pipeline gas exports have gas supplier. But despite years of lobbying citing China’s customs data.
been successfully rebuffed in the halls of efforts, he has failed to convince the Russia remained the second largest oil
government by Gazprom. government to liberalise pipe gas exports. exporter to China, while Saudi Arabia held
"However, pre-announcing the report Moscow feared that doing so would mean the first place with 8.06 million tonnes, a
may be a hint that Rosneft might meet with Russian gas competing with Russian gas in 21% rise.

P12 www. NEWSBASE .com Week 38 22•September•2021