Page 15 - AsianOil Week 33

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bloc over the issue. However, there is no sign of diesel production grew by 4.4% on the year to
the tensions being scaled down as yet. 1.3mn tonnes. Investment to Azerbaijan’s oil and
Meanwhile, normal oil and gas operations gas sector grew by 22.9% year on year to AZN3.4bn
– and decommissioning – continue in other ($2bn) in the first seven months.
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 bod of con-
removal of processing and accommodation top- densate, according to the Energy Ministry. 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-
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-
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.
by 2022. Looking further ahead the county expects to
Allseas is now preparing to remove the Ninian start up the Karabakh oil and gas field in the Cas-
Northern platform, which is located east of Shet- pian Sea before the end of 2022, the head of the
land in the UK North Sea. This will be the final job Karabakh operating company, Tahir Dadashov,
of the year for Allseas’ Pioneering Spirit heavy-lift told Reuters last week.
vessel, which also carried out the Tyra removals. “In the early years oil production at the Kara-
bakh field will amount to more than 1.5mn
If you’d like to read more about the key events shaping tonnes per year [30,000 bod],” Dadashov said on
Europe’s oil and gas sector then please click here for August 12. He added that gas production would
NewsBase’s EurOil Monitor. reach 4.5mn cubic metres per day.
The Karabakh operating company, which is
Azeri energy export volumes steady, value a joint venture between SOCAR and Norway’s
tumbles 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 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 please
in the first seven months of 2019 to $6.3bn in the click here for NewsBase’s FSU Monitor.
same period of 2020.
Natural gas exports fared somewhat bet- A better month for the LNG market
ter, with shipments climbing from 6.7bn cubic Things are looking up for the global LNG mar-
metres in January-July 2019 to 7.7 bcm in the ket after several challenging months on both the
same period of 2020. The value of the country’s supply and demand fronts.
gas exports climbed from $1.2bn to $1.4b. US LNG exports are picking up, with Reuters
The country’s output of gasoline climbed 0.3% reporting this week that they are on track to rise
year on year in the period to 715,900 tonnes, while for the first time in six months. This follows a

Week 33 20•August•2020 www. NEWSBASE .com P15