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MURADKHANLI CLOSING DOWN?
The cloud of rumors surrounding the Ramco-operated "Muradkhanli" field has been further enlarged, as Russian ITAR-TASS news agency has quoted the Ramco head office as saying that drilling operations on the field have been suspended, while Ramco is considering leaving Azerbaijan.
A source from the Ramco Baku office told AssA-Irada Tuesday that the talks with SOCAR are underway and it is premature to talk of the closure of the project. But according to a SOCAR source, the project will most likely be closed.
Ramco has long sold its interest in the Contract of the Century and only held a 50% stake in the "Muradkhanli" project. Besides, the company has 1.55% interest in the BTC group of sponsors.
"ALBERTA ENERGY" IN TALKS WITH SOCAR
Canadian "Alberta Energy" has voiced its intention to join the Group of BTC Sponsors. A source from SOCAR told AssA-Irada Thursday that talks are already underway between the two companies.
Besides preliminary negotiations with "Alberta Energy" and French "TotalFinaElf", SOCAR is currently in talks with "Chevron" over the company's interest in the MEP project and potential funding of a part of the SOCAR's share.
According to the source, the interest in the BTC project has considerably expanded of late.
LUKOIL INTRODUCES NEW FINANCIAL STANDARDS
Russian Lukoil has elevated its financial system to the level of world standards. An audit conducted on March 22 is going to allow the company to access the international securities market. The transition has provided Lukoil with the opportunity of placing its shares in international financial markets.
According to a source from the company, as where in 1992 a share cost $2.5 and in 1999 $15, last year's indicator was twice higher.
RAMCO EMBARKS ON TALKS WITH SOCAR
After the unsuccessful completion of drilling operations on the first exploration well on "Muradkhanli", the project operator, Ramco, has started negotiations with SOCAR.
A Ramco source told AssA-Irada Monday that considering a particular importance of the talks, their gist is not being elaborated. The only information available is that the negotiations are focusing on two alternatives: suspension of work on the field and further benefits from SOCAR.
EXXONMOBIL BREAKS RECORD
ExxonMobil appears to have earned most of all oil companies, $17 billion, following the announcement of the company's financial performance in 2000.
A report from ExxonMobil's head office says the record-breaking profit was largely earned thanks to soaring crude prices last year. In the last quarter of 2000 alone incomes exceeded expectations by 89%, making up $5.12 billion as opposed to $2.7 billion in 1999.
ABSHERON DRILLING COMPLICATION REPORT PROVES FALSE
Media publications concerning alleged complications in drilling of the first exploration well on "Absheron" contradict reality, as drilling operations are progressing according to the schedule, a spokesman for "Chevron", project operator, told Azernews Monday.
According to him, publications suggesting high reservoir pressure are wrong. No high pressure has been registered in the well, where drilling has already reached the mark of 4,800 meters. The Chevron representative brushed off reports that drilling is progressing at the rate of 5 to 8 meters per hour, adding that it will be completed as scheduled - this summer.
The designed depth of the first exploration well is 6,700 meters. Drilling operations are being conducted off the "Istiglal" semi-submersible drilling rig in 517 meters of water.
MARCH OIL TRANSIT PLAN FULFILLED
The last of 145,000 tons of oil in March was transported through the Baku-Novorossiysk pipeline on March 28 and further oil transit has been suspended till the end of March, SOCAR press-service told Azernews Friday.
150,000 tons of crude are to be transported in April.
Azernews
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Issue No.14(196), 2001
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