Page 10 - FSUOGM Week 29 2019

FSUOGM
NEWS IN BRIEF FSUOGM
RUSSIA
Belarus, Russia to form
working group to resolve
bilateral issues
Russia’s Sibur and Gazprom Ne now control 100% of Poliom, a polypropylene (PP) producer in Omsk, a er together buying a 50% stake in the company from Titan Group.
Poliom is one of Russia’s largest PP manufacturers. It was launched in 2013 and Gazprom Ne and Sibur bought into the venture in 2014.
July 22 2019
Lukoil to start up
Rakushechnoye field in
2023
Russia’s Lukoil intends to start development drilling at the Caspian Sea’s Rakushechnoye oil eld in 2021 and launch production two years later, company CEO Vagit Alekperov told reporters on July 23.
e eld, discovered in 2001, has initial recoverable resources of 39mn tonnes of oil and condensate and 33bn cubic metres of gas. Output is expected to plateau at 1.2mn tonnes per year. According to Alekperov, Lukoil will also start drilling at the Khazri deposit in the Caspian Sea next year
July 23 2019
Lukoil to consider processing dirty oil
Lukoil is prepared to consider re ning oil containing high quantities of organic chlorides, its CEO Vagit Alekperov said on July 23.
Alekperovnotedthatthecompany’sNizhny CENTRAL ASIA & SOUTH Novgorod re nery was designed to re ne highly
sulphuricoil. CAUCASUS
Millions of barrels of Russian oil were contaminated earlier this year with organic chlorides, which are used in drilling but can cause damage to re ning equipment if le in the oil.
July 23 2019
Novatek launches Western Siberian field
Novatek has started commercial production at the South-Khadyryakhinskoye gas eld in the Purovsky district of Yamalo-Nenets. e eld’s output is slated to reach 1bn cubic metres per year, the company said in a statement on July 24. According to CEO Leonid Mikhelson, the deposit’s close proximity to other producing assets has lowered development costs. Its C1+C2 gas resources were estimated at 28bcm at the end of last year, according to Novak.
July 24 2019
EASTERN EUROPE
Courts reject Gazprom appeals in Naftogaz case
Courts in the Netherlands and Luxembourg have rejected appeals by Russia’s Gazprom relating to a Stockholm arbitration award
to Ukraine’s Na ogaz, the latter company reported on July 18.
Gazprom had contested whether the courts had jurisdiction in enforcing the award, which requires the state company to pay $2.56bn to Na ogaz in compensation for transit contract violations. But its appeals were rejected on July 8, Na ogaz said.
July 19 2019
Georgia reports on Azeri oil transit volumes
Azerbaijan transited 133.9mn barrels of
oil via Georgia, which is 4.7% less than the corresponding period of 2018, according
to state-owned Georgia Oil & Gas. Transit volumes fell 6.8% yr/yr in the second quarter, arriving at 64.6mn barrels.
In the rst six months, Azeri supplies via the Baku-Tbilisi-Ceyhan (BTC) pipeline that runs through Georgia and Turkey fell 3.1% to 120.5mn barrels.
July 22 2019
NCOC eyes further growth at Kashagan
e North Caspian Operating Co. (NCOC) managing Kazakhstan’s o shore Kashagan project plans to hoist output by undertaking upgrades and developing two satellite elds.
In a statement to S&P Global Platts, the consortium said “preliminary engineering” was underway to raise the eld’s output to 450,000 barrels per day, from the current 370,000bpd. e group also plans to submit a development plan this quarter for developin the Khazar and Kalamkas elds located near to Kashagan. Output at these elds could reach 100,000bpd, and a nal investment decision (FID) is anticipated no later than 2022.
July 22 2019
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Week 29 24•July•2019