Page 13 - FSUOGM Week 28 2019

FSUOGM
NEWS IN BRIEF
FSUOGM
Belarusian re ners for losses incurred as a result of Russia’s dirty oil crisis. Demin said on July 11 that Transne was not ready to agree on an increase, however.
Uzbekistan offers up RSAs for 50 mature oilfields
Uzbekistan plans to o er foreign investors rights to 50 elds where oil production
is falling under risk-service contracts (RSCs), the head of national oil company Uzbekne egaz (UNG), Bahodirjon Sidikov, announced on July 15.
According to Sidikov, these elds are mostly small and contain di cult to recover reserves. Uzbekistan plans to draw up plans for a tender for the RSAs this year.
Grant Thornton to prepare report on transparency in Azerbaijan’s extractive industry
Grant ornton will prepare a consolidated report on transparency in Azerbaijan’s extractive industry for 2018-2019, the Trend news agency reported on July 13, citing Azerbaijan’s sovereign oil fund.
e decision was made at a meeting of Azerbaijan’s Extractive Industries
Transparency Commission (EITC) on July 12. A tender was held to nd a company to
prepare the report. Besides Grant ornton, Baker Tilly, BDO Azerbaijan, Nexia EA and ABAK-AZ Crovve also submitted o ers in the contest.
CENTRAL ASIA & C A U C A S U S
SOUTH
Block shores up control over West Rustavi
London-listed Block Energy has consolidated control of the West Rustavi project in Georgia, raising its share of the licence from 71.5% to 100%.
e explorer said on July 15 it had paid the equivalent of $750,000 in cash and shares for the stake, formerly held by state-owned Georgia Oil and Gas.
West Rustavi holds 0.9mn barrels in 2P oil reserves, along with 38mn barrels of oil and 17.2bn cubic metres of gas in best-estimate contingent resources. Block is preparing to undertake a drilling programme at the site, aimed at li ing oil output and testing the area’s gas discoveries.
Week 28 17•July•2019
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