Archive for January 14th, 2008
Canadian Junior Tethys Petroleum Aims To Prove It Is Not Just The Mega Projects For The Major Oil Companies That Make Kazakhstan Attractive
From oilbarrel.com on December 17, 2007
By Anthony Robinson
Mention Kazakhstan and what comes to mind are huge, deep on and offshore deposits of sour, high pressure oil and gas - and very expensive “green field” projects which only the oil majors can tackle. David Robson’s Kyzyloi development in western Kazakhstan, north west of the Aral sea and close to the border with Uzbekistan, could not be more different - at this initial stage at least.
Robson, who is the Chairman, President and Chief Executive Officer of Toronto main board listed Tethys Petroleum Limited (symbol TPL) told his audience at two presentations during the KIOGE conference in Almaty recently that gas was about to flow from the first stage of what he called “the development of a new gas province in western Kazakhstan.”
Unlike gas and oil from the big, deep greenfield developments further west, Kyzyloi gas is sweet and dry. It comes from a shallow deposit of only 450 metres, and thanks to its location it does it require the costly infrastructure investment and new pipelines needed to get oil and gas to market from Kashagan, Tengiz or Karachaganak.
News Roundup - January 14, 2008
Financial Times: Kazakhstan reaches Kashagan accord with consortium
Kazakhstan agreed a deal with an Eni-led consortium on Sunday night to develop the Kashagan oilfield. The consortium – which includes ExxonMobil of the US, Royal Dutch Shell and Total of France – agreed to pay Kazakhstan $2.5bn-$4.5bn in compensation for the project’s late start…
Wall Street Journal: Kashagan dispute ends as state doubles stake
A long-running dispute over one of the world’s biggest oil-development projects was finally resolved last night with an agreement to let the Kazakhstan state oil and gas company double its stake in the multibillion-dollar venture…
Reuters: Eni Group cedes greater stake to Kazakhs in Kashagan
Eni SpA and its partners in the Kashagan oil development agreed to cede a greater stake to Kazakhstan’s state-run KazMunaiGaz National Co…
Bloomberg: Eni-led Kashagan group meets Kazakh Premier in Astana
Eni SpA and partners met with Kazakh Prime Minister Karim Masimov in talks ahead of a Jan. 15 deadline to resolve a dispute over the Kashagan oil field, the world’s largest crude discovery in three decades…
Neweurasia.net: 48 hours to go
The Russian news agency Interfax featured a very explosive exclusive in its news wires last Friday: “Kazakh govt ready to cancel Kashagan deal with Eni consortium” read the headline…
New York Times: Report stirs concern Kazakh oil deal may be scuttled
Shares in the Italian oil company Eni dipped on Friday after a Russian news agency reported that the government of Kazakhstan was preparing to cancel a contract with a consortium led by Eni that is developing the Kashagan field, one of the world’s largest oil projects…
Rescuers called off the search for dozens of miners missing two days after a deadly coal mine explosion in central Kazakhstan, saying Sunday there was no chance of finding them alive. Authorities put the death toll at 30…
AFP: ArcelorMittal CEO ’summoned’ to Kazakhstan after deadly mine blast
The CEO of ArcelorMittal, the world’s largest steelmaker, is to visit Kazakhstan on Monday following a blast that killed at least seven people at one of his Kazakh mines, officials said…
Reuters: Kazakh coal mine blast kills at least seven
An explosion killed at least seven coal miners on Friday and left another 23 missing in a Kazakh mine owned by the world’s largest steel maker, Arcelor Mittal…
New Europe: KazMunaiGaz eyes Russian oil fields
Kazakhstan, whose oil reserves have earned it recognition worldwide, is planning to buy oil fields in neighbouring Russia. According to specialists, this is a necessary measure for the Kazakh government to control the prices of oil products…
Reuters: Petrolinvest pays $512 mln in Kazakh expansion
Polish oil company Petrolinvest signed preliminary all-share deals worth $512 million to expand its presence in the potentially lucrative Kazakhstan oil market, sending shares up as much as 7 percent on Friday…
Kazinform: Kazakh PM met with US Senator R. Lugar
Prime Minister of Kazakhstan Karim Massimov has met today with US Senator Richard Lugar at Ukimet Uiy (House of Government), Kazinform has learnt from PM’s press service…
Kazinform: Chevron officials, Kazakh PM had a talk
Prime Minister of Kazakhstan Karim Massimov met with officials of Chevron Eurasia Corporation led by Guy Hollingsworth at Ukimet Uiy (House of Government) today, Kazinform has learnt from PM’s press service…
Today’s Zaman: Questions about the Nabucco pipeline
The title was dramatic: Nabucco. This operatic title was given to a pipeline that was planned to be a route from Azerbaijan to Europe stretching some 3,300 kilometers, reducing the energy dependency of the continent on Russia…
Eurasia Daily Monitor: The rebirth of pan-Turkism
As the USSR recedes further into history, the post-Soviet Turkic nations of the Caucasus and Central Asia are rediscovering their linguistic and cultural affinities with Turkey, and activists are promoting closer cultural, economic, and political ties…
finchannel.com: JSC “Bank TuranAlem” attracts DEG loan for 82 million USD
JSC “Bank TuranAlem” has entered into loan agreement with international organization DEG (Deutsche Investitions Und Entwicklungsgesellschaft MBH, Germany) to attract loan for 82 million dollars USA…
