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Petroleum / Mining in Central Asia

  • No decision yet on financing production increase at Tengiz oilfield

    KAZAKHSTAN, 2016/05/28 The Wellhead Pressure Management Project / Next Increase Project (WPMP / FGP), which will make it possible to significantly increase oil production at the Kazakh Tengiz field, are being considered, but a decision on their financing hasn't been made from presently on, Tengizchevroil (TCO) Consortium engaged in the development of the field, told Trend. "Large capital projects of the TCO undergo thorough and rigorous consideration to be coordinated with the partners in order to ensure their further safe, profitable and timely implementation," said the consortium.
  • Energy-rich Turkmenistan intends to launch the third stage of development of the giant Galkynysh gas field

    TURKMENISTAN, 2015/11/28 Energy-rich Turkmenistan intends to launch the third stage of development of the giant Galkynysh gas field and bring the field's production capacity to 95 billion cubic meters of gas in the near next. This was announced by Ashyrguly Begliyev, the Chairman of the Turkmengaz National Concern, at a recent Oil and Gas of Turkmenistan conference in capital Ashgabat. He said that one of the major oil and gas projects in Turkmenistan is the industrial development of the Galkynysh field, which is known as the second major in the world. This field will serve as a major source of natural gas for next export pipelines.
  • Turkmenistan ready to up fuel supplies to Ukraine

    TURKMENISTAN, 2015/10/29 Turkmenistan is ready to increase supplies of the domestic fuel and energy sector products to Ukraine, implement joint cooperation projects in this area, the President of Turkmenistan Gurbanguly Berdimuhammadov said next talks with his Ukrainian counterpart Petro Poroshenko Oct.29. The Turkmen president mentioned the fuel and energy sector part the significant areas of partnership, local media reported. Speaking about trade and economic bilateral relations, President Gurbanguly Berdimuhammadov as well noted the long-term cooperation with Ukrainian companies working in the country in the construction of urban and transport infrastructure in other sectors of the economy. Today, 29 enterprises with participation of Ukrainian capital have been registered in Turkmenistan, additional than 80 investment projects worth a total price of almost $3.5 billion are being implemented.
  • The Uzbekistan-Korea Tungsten joint venture will start the construction

    SOUTH KOREA, 2015/10/26 The Uzbekistan-Korea Tungsten joint venture will start the construction of a tungsten mining and processing complex on the basis of the Sautbay field (Navoi region, the central part of Uzbekistan) in the second half 2016, one of the representatives of the Korean Shindong Resources Co., which is co-founder of the joint venture, said. He made the remarks during the international conference“Investment potential of hard minerals of Uzbekistan” held in Tashkent. The total preliminary cost of the tungsten mining and processing complex construction project is about $150 million. In August 2011, the Korean Shindong Resources Co Ltd and Uzbek National Geology Committee signed an agreement on establishing a joint venture called Uzbekistan-Korea Tungsten to develop the Sautbay tungsten deposit. The joint venture, in which the share of the Uzbek National Geology Committee is 49 %, and the share of Korean companies is 51 %, was established in 2013.
  • The Scottish oil field services company Wood Group

    KAZAKHSTAN, 2015/10/14 The Scottish oil field services company Wood Group will provide the Tengizchevroil crude storage capacity project at the Tengiz field with detailed engineering, control hardware and remote instrument enclosures in order to help increase its storage capacity. Wood Group will assume control over the work at the Tengiz field as part of a multi-million dollar arrangement, which the group had won in Kazakhstan from US civil engineering outfit Bechtel.
  • Oil output in Kazakhstan to decrease by 20,000 barrels

    KAZAKHSTAN, 2015/10/14 The Organization of the Petroleum Exporting Nations forecasted the decrease in Kazakhstan’s oil production by 20,000 barrels per day in 2015 to average 1.62 million barrels per day. As compare with its September oil market statement, OPEC predicted that Kazakhstan’s oil production will decrease by 10,000 barrels per day in 2015. OPEC said that Kazakhstan’s August output declined compared to July by a steep 86,000 barrels per day to 1.51 million barrels per day, the lowest level since October 2014. This was due to a 0.1 million barrel per day decline in Tengiz field output.
  • Oil and gas exploration and production company Tethys Petroleum Limited

    TAJIKISTAN , 2015/10/14 Oil and gas exploration and production company Tethys Petroleum Limited may withdraw from developing the large Bokhtar gas field in Tajikistan due to missing payments for its share of costs. Recently, the Tethys Company announced that it has not made payment for the September Cash Call in an all of over $1.28 million and an all of approximately $0.78 million for October 2015. Therefore, the Company has received a notice from the joint venture partners Total E&P Tajikistan B.V and China National Petroleum Corporation Central Asia B.V. to withdraw from the Bokhtar exploration project in Tajikistan.
  • Trans-Caspian gas pipeline, promising project for Turkmenistan

    TURKMENISTAN, 2015/10/13 Turkmenistan’s President Gurbanguly Berdimuhammadov emphasized the Trans-Caspian gas pipeline as a promising project for the country's plans to diversify Turkmen energy supplies in the direction of European markets during the last governmental conference. In his statement, Berdimuhammadov praised the role of the transnational pipelines as a real contribution to creating international energy cooperation and as an effective stabilizing factor to have a positive impact on the process of strengthening socio-political stabilization. Having the fourth major proven gas reserves in the world, Turkmenistan is actively implementing an energy strategy aimed at diversifying its supply routes to the major world markets, where the request for energy resources is growing.
  • Uzbekistan decreases coal production

    UZBEKISTAN, 2015/08/26 Uzbekistan decreased coal production by 11.4 % to 1.789 million metric tons in January-June 2015 compared to the same period of 2014, Uzbekugol JSC, the major producer of solid fuel in the country, reported on August 20. Uzbekugol JSC produced about 1.674 million metric tons of coal (10.3 % decrease), Shargunkumir JSC – 63,300 metric tons (58.3 % increase) and Apartak Ltd. – 51,800 metric tons (54.2 % decrease), according to the company. The total volume of overburden operations decreased by 6.5 % to 9.1 million cubic meters.
  • New gas field opens in Turkmenistan

    TURKMENISTAN, 2015/08/26 Turkmenistan secured its leading position in gas resources next the discovery of a new gas field at the Bagley-1 area in the Karakum Desert located in the Mary region. The search for new deposits of oil and gas in southeastern Turkmenistan yielded successful results next the initial exploration reached a depth of 4,690,000 meters and the operational column omitted 230 meters above. The daily hydrocarbon output of the new field will exceed 1.5 million cubic meters and is located only a few dozen kilometers away from the gigantic Galkynysh field, which is famous worldwide for its explored and proven natural gas reserves. The energy neighborhood has the potential to yield even better gas discoveries.