Oil & gas news

SALYAN OIL TO COMMISSION WELL IN DECEMBER

Salyan Oil is expected to commission a new exploration well it is currently drilling on the Kursangi-Garabagli field by the end of December, the company said Monday. The well depth reached 2000 meters before a two-day stoppage came following the breakdown of part of the drilling rig. The drilling is currently underway.

Salyan Oil is the operator of Kursanghi-Garabagli. The first well on the field was bored in May-June 2001 and the second in September.

SHIRVAN OIL DEVELOPS OIL OUTPUT BOOST PROGRAM

Shirvan Oil joint venture has developed work and investment programs to achieve fivefold increase in oil production volume. The WB-considered programs envision preparations for drilling new wells in 2002, increasing the well stock and restoring part of the liquidated wells, SOCAR said Thursday.

CONOCO, PHILIPS PETROLEUM MERGING

UN Conoco and Philips Petroleum reached initial agreement to merge on November 17, the Conoco Baku office reported Thursday. The process is expected to take 6 months.

Conoco possesses a 20%-stake in the PSA of the Zafar-Mashal field, while Philips Petroleum shares Tenghiz and Karachanganag fields in Kazakhstan.

NOVEMBER OIL PRODUCTION PLAN FULFILLED

In November 2001, 742,400 tons of oil were produced with the plan of 731,700. The plan has been fulfilled both off- and onshore, with 609,000 tons (100%) extracted offshore and 133,400 (108.7%) onshore, according to SOCAR.

The November gas production plan was not fulfilled, with 439,500,000 cubic meters (91.4%) produced instead of the planned 480,900,000. Offshore, 373,400,000 cubic meters were produced despite the plan of 391,500,000 (95.4%), while onshore 21,400,000 cubic meters were produced with the plan of 21,500,000 (110.5%). A total of 394,800,000 cubic meters (95.6%) were produced by SOCAR enterprises.

2,168,476,853 TONS OF AZERI CRUDE DISPATCHED

The SOCAR foreign economic relations department dispatched 162,200,015 tons of automobile gasoline, 401,397,269 tons of diesel fuel, 189,714,573 tons of aviation kerosene, 11,637,303 tons of stove fuel, 2,951,150 tons of technical butane, and 20,921,554 tons of coke from January 1 till November 30, the SOCAR said Tuesday.

A total of 2,168,476,853 tons of Azeri crude was dispatched through the northern Baku-Novorossiysk pipeline.

OIL PRODUCTION PLAN FULFILLED

In January-November 2001, 8,263,200 tons of oil were produced despite the plan of 8,143,800 (101.5% of the plan). This is also over last year's 11-month performance by 15,000 tons, or by 1.3%.

According to SOCAR, the 11-month offshore plan has been over- fulfilled both offshore, with 6,804,500 tons produced (100.4%), and onshore, with 1,458,700 tons (107%).

Gas production in January-November 2001 fell short of the plan at 5,095,200,000 cubic meters (95.6%). 4,063,500,000 cubic meters of gas was produced offshore (96.3%) and 218,700,000 onshore (104.9%). The AIOC produced 813,000,000 cubic meters of gas (90.1%).