Page 17 - FSUOGM Week 36 2019

FSUOGM PROJECTS & COMPANIES FSUOGM
Zenith announces positive drilling results at Jafarli field
AZERBAIJAN
Zenith is developing Azerbaijan’s biggest onshore oil project.
ZENITH Energy’s recent drilling at Azerbaijan’s Jafarli field discovered three untapped oil-bear- ing clastic layers, the company said on Septem- ber 9.
According to the company, the deepening of well C-37 successfully identified three untapped oil-bearing clastic layers in the Middle Eocene formation with a total net pay zone of approx- imately 16 metres. Oil and gas shows recorded during tje drilling of these intervals indicated the presence of favourable reservoir facies, it added. Meanwhile, civil works at well C-30 are expected to begin shortly.
“The first indications we have received from drilling operations at well C-37 are
very encouraging,” commented Zenith CEO Andrea Cattaneo. The company’s confidence was “confirmed” by the pay zone identified and “the merits of deepening well C-37 in order to materially increase our daily pro- duction of oil.”
“I am also delighted with the performance of Zenith’s service company subsidiary, Zena Drilling, during its first operational activities in Azerbaijan with our recently acquired 1,200hp drilling rig. We expect the speed of execution and efficiency of Zena to progressively optimise as we go forward in implementing our system- atic drilling programme in Azerbaijan,” Catta- neo added. ™
Russia’s Rosneft oil major
claims Druzhba crisis still
unresolved
Russian oil major Rosneft claims that state oil pipeline operator Transneft has failed to resolve all the issues with chlorine contaminated oil, Reuters reported on September 3 citing the announcement of Russia’s largest crude oil producer.
“Currently the destination of mixed oil [clean oil mixed with contaminated oil] remain undetermined, the claims of affected counteragents and sellers are not settled,” Rosneft claims despite previous reports suggesting the opposite.
Exports and output of Rosneft and Tatneft oil companies suffered the most when this spring oil supplies through Druzhba pipeline and Ust-Luga port were botched by chlorine- contaminated crude.
Rosneft had been hard-pressing the government and Kremlin for compensations, not only for Druzhba disruption, but also for lower output under the Opec+ output cut deal and Arctic extraction development.
The company also claims that Transneft
is single-handedly deciding how to mix the contaminated oil that has been pumped back to Russia with clean crude, without letting the sellers control the quality of oil.
As reported by bne IntelliNews, the revenues of Tatneft were flat q/q at $3.4bn in 2Q19 under IFRS, despite 9% q/q increase in oil price, due to 20% export duty q/q increase
NEWS IN BRIEF
and issues related to crude contamination in Druzhba pipeline system.
bne IntelliNews, September 3 2019
Novatek, Saibu Gas, sign heads of agreement
Today, in the presence of the Minister of Economic Development of the Russian Federation Maxim Oreshkin and the Minister of Economy, Trade and Industry of Japan Hiroshige Seko, Novatek and Japan’s Saibu Gas Co signed a Heads of Agreement.
According to the Agreement, the Parties intend to establish a joint venture focused on marketing LNG and natural gas to end customers and developing the business for bunkering and gas-fired power generation in Japan and the Asian region, as well as constructing and operating a new LNG storage tank at the Hibiki LNG terminal.
“We have made another important step forward in implementing our strategy
to enter the end customer market in key
gas consuming countries, among which Japan is one the biggest markets and long time consumer of LNG,” – noted Leonid Mikhelson, Novatek’s Chairman of the Management Board. “The creation of
our joint venture with Saibu Gas allows
us to increase the marketing flexibility of natural gas supplies and create additional opportunities for LNG sales in this important gas consuming region”.
Novatek, September 5 2019
Gazprom, KOGAS looking to expand cooperation on LNG
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Hee-Bong Chae, President and Chief Executive Officer of KOGAS, took place today at the 5th Eastern Economic Forum in Vladivostok.
The meeting participants reviewed the state and prospects of cooperation between the companies, highlighting the stability of LNG supplies under the contract between Sakhalin Energy Investment Company Ltd. and KOGAS.
The parties expressed interest in further expanding their cooperation in the area
of LNG and continuing their sci-tech collaboration.
Gazprom, September 5 2019
Gazprom, Mitsui discuss cooperation-related issues
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Masami Iijima, Chairman of the Board of Directors of Mitsui & Co., Ltd., took place today at the 5th Eastern Economic Forum in Vladivostok.
The parties discussed issues related to their cooperation, expressing appreciation for the Sakhalin II project, which turned 25 years old this year. It was noted that LNG and oil from Sakhalin II have been purchased by as many
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