SPE Annual Caspian Technical Conference and Exhibition
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3. Energy Reserves, Pipeline Routes and the Legal Regime in the Caspian Sea
3. Energy reserves, pipeline routes and the legal regime in the Caspian Sea John Roberts I. The energy reserves and production potential of the Caspian The issue of Caspian energy development has been dominated by four factors. The first is uncertain oil prices. These pose a challenge both to oilfield devel- opers and to the promoters of pipelines. The boom prices of 2000, coupled with supply shortages within the Organization of the Petroleum Exporting Countries (OPEC), have made development of the resources of the Caspian area very attractive. By contrast, when oil prices hovered around the $10 per barrel level in late 1998 and early 1999, the price downturn threatened not only the viability of some of the more grandiose pipeline projects to carry Caspian oil to the outside world, but also the economics of basic oilfield exploration in the region. While there will be some fly-by-night operators who endeavour to secure swift returns in an era of high prices, the major energy developers, as well as the majority of smaller investors, will continue to predicate total production costs (including carriage to market) not exceeding $10–12 a barrel. The second is the geology and geography of the area. The importance of its geology was highlighted when two of the first four international consortia formed to look for oil in blocks off Azerbaijan where no wells had previously been drilled pulled out in the wake of poor results.1 The geography of the area involves the complex problem of export pipeline development and the chicken- and-egg question whether lack of pipelines is holding back oil and gas pro- duction or vice versa. -
17CTCE Onsite Prog A5+TD.Indd
Conference Programme SPE Annual Caspian Technical Conference and Exhibition Chasing the Margins 1 – 3 November 2017 I Baku, Azerbaijan CELEBRATING 20 YEARS OF THE SPE BAKU SECTION 1997-2017 Host Organisation: Platinum Sponsor: In Participation With: SM Fairmont Hotel, Baku Azerbaijan I www.spe.org/go/17ctce WELCOME FROM THE EXECUTIVE COMMITTEE CO-CHAIRS ABOUT SPE TABLE OF CONTENTS Dear Colleague, Society of Petroleum Engineers Sponsors 2 The Society of Petroleum Engineers About our Partners 3 As conference co-chairs, and on behalf of the Conference Executive and Technical (SPE) is a not-for-profi t professional Venue Floor Plan 4 Programme Committees, we thank you for attending the SPE Annual Caspian Technical association whose members are Schedule of Events 5 engaged in energy resources Conference and Exhibition. Committees 7 development and production. SPE serves more than 164,000 members Opening Ceremony 8 This year’s conference theme “Chasing the Margins” will focus on the current market in 143 countries worldwide. SPE is a Conference Programme and Panel Sessions 9 conditions facing the oil and gas industry, both globally and on a local level, and the ways key resource for technical knowledge Technical Programme 11 in which our industry should respond. The velocity and magnitude of price volatility has related to the oil and gas exploration Speaker Biographies 23 pushed the industry to shift focus from “chasing barrels” towards “chasing effi ciency” to and production industry and provides General Information 28 services through its publications, events, Student Development Summit 30 enhance the value of the ultimate products. The modernisation of the industry, the training courses, and online resources at collaboration between oil and gas operators, contractors, service providers and www.spe.org. -
2D Seismic Survey in Block AD- 10, Offshore Myanmar
2D Seismic Survey in Block AD- 10, Offshore Myanmar Initial Environmental Examination 02 December 2015 Environmental Resources Management www.erm.com The world’s leading sustainability consultancy 2D Seismic Survey in Block AD-10, Environmental Resources Management Offshore Myanmar ERM-Hong Kong, Limited 16/F, Berkshire House 25 Westlands Road Initial Environmental Examination Quarry Bay Hong Kong Telephone: (852) 2271 3000 Facsimile: (852) 2723 5660 Document Code: 0267094_IEE_Cover_AD10_EN.docx http://www.erm.com Client: Project No: Statoil Myanmar Private Limited 0267094 Summary: Date: 02 December 2015 Approved by: This document presents the Initial Environmental Examination (IEE) for 2D Seismic Survey in Block AD-10, as required under current Draft Environmental Impact Assessment Procedures Craig A. Reid Partner 1 Addressing MOECAF Comments, Final for MOGE RS CAR CAR 02/12/2015 0 Draft Final RS JNG CAR 31/08/2015 Revision Description By Checked Approved Date Distribution Internal Public Confidential CONTENTS 1 EXECUTIVE SUMMARY 1-1 1.1 PURPOSE AND EXTENT OF THE IEE REPORT 1-1 1.2 SUMMARY OF THE ACTIVITIES UNDERTAKEN DURING THE IEE STUDY 1-2 1.3 PROJECT ALTERNATIVES 1-2 1.4 DESCRIPTION OF THE ENVIRONMENT TO BE AFFECTED BY THE PROJECT 1-4 1.5 SIGNIFICANT ENVIRONMENTAL IMPACTS 1-5 1.6 THE PUBLIC CONSULTATION AND PARTICIPATION PROCESS 1-6 1.7 SUMMARY OF THE EMP 1-7 1.8 CONCLUSIONS AND RECOMMENDATIONS OF THE IEE REPORT 1-8 2 INTRODUCTION 2-1 2.1 PROJECT OVERVIEW 2-1 2.2 PROJECT PROPONENT 2-1 2.3 THIS INITIAL ENVIRONMENTAL EVALUATION (IEE) -
Kashagan and Tengiz
KashaganandTengiz—CastorandPollux DanielJohnstonandDavidJohnston AdaptedfromPetroMinMagazine–15December,2001. The recently announced super giant Kashagan discovery in the Kazakhstan sector of the NorthCaspianSeaistheworld’slargestdiscovery in three decades. Kashagan, located in shallowwater,isananalogtotheonshoreTengizfieldlocatedapproximately130to150km (85miles)tothesoutheast. KashaganandTengizarethetwolargestfieldsinKazakhstan—theiroilreservesalonerival theUnitedStates22Billionbarrelsofoil,yettheyhavehardlybeguntoproduce.Tengizin 10yearsofproductionhasproducedlessthan10%ofit’srecoverablereserves.Andwhile Kashaganwasonlyjustdiscovered,thereareothersimilarstructuresintheKashaganlicense areathatareyetundrilled.Overall,thedevelopmentcostswilllikelycosttensofbillionsof dollars but revenues to the Contractor group (the oil companies) and the Kazakhstan Governmentcouldexceed onetrilliondollars . TheKashaganprospect,(Figure1)namedafterthegreatKazakhpoet,wasidentifiedbythe Soviets in the early 1970s. However, the extremely promising prospect, located in an environmentallysensitiveandhighcostenvironment,wasnotdrilledatthattime. Threewellshavebeendrilledonthestructuresincelate2000andtheprospecthaslivedupto it’spromise.Appropriately,theKashaganproduction sharingagreement (PSA) is about as 1 famousasthediscovery. Every single percentage point (1%) take (either Government or Contractor take) could representfrom$1.5to$2billioninprofitsforthefirst10billionbarrelsalone.Thisisabig one. Thediscoveryisratedat6.4to100billionbarrels. 2However,itislikelythatagoodworking -
Central Asia's Oil and Gas Reserves
JANUARY 23-25, 2010 THUN, SWITZERLAND EURASIA EMERGING MARKETS FORUM Central Asia’s Oil and Gas The Emerging Markets Forum was created by the Centennial Group as a not-for-prot Reserves: initiative to bring together high-level government and corporate leaders from around the To Whom Do world to engage in dialogue on the key economic, nancial and social issues facing They Matter? emerging market countries. Martha Brill Olcott The Forum is focused on some 70 emerging market economies in East and South Asia, Eurasia, Latin America and Africa that share prospects of superior economic performance, already have or seek to create a conducive business environment and are of near-term interest to private investors, both domestic and international. Our current list of EMCs is shown on the back cover. We expect this list to eveolve over time, as countries’ policies and prospects change. Further details on the Forum and its meetings may be seen on our website at http://www.emergingmarketsforum.org Emerging The Watergate Oce Building, 2600 Virginia Avenue, NW, Suite 201 Markets Forum Washington, DC 20037, USA. Tel:(1) 202 393 6663 Fax: (1) 202 393 6556 A nonprofit initiative of the Centennial Group Email: [email protected] Bringing people together to accelerate growth and well-being in emerging markets Central Asia’s Oil and Gas Reserves: To Whom Do They Matter? Martha Brill Olcott¹ Summary Iolathan-Osman gas field, a field confirmed as one of the world’s top five deposits in an independent audit It seems like anytime one opens the business section by Gaffney, Cline and Associates. -
Kazmunaygas National Company JCS - Climate Change 2019
KazMunayGas National Company JCS - Climate Change 2019 C0. Introduction C0.1 (C0.1) Give a general description and introduction to your organization. JSC National Company “KazMunayGas” (KMG) is a vertically integrated national oil and gas company that operates across upstream, midstream and downstream segments, representing the interests of the state in the oil and gas industry of Kazakhstan. Outside of Kazakhstan, KMG has more than a thousand fuel sales points in Romania, Moldova, Bulgaria, and Georgia. KMG International N.V. is a strategic enterprise for oil refining and marketing in Romania and the countries of the Black Sea and Mediterranean basins with the access to the end-user market with a population of more than 300 million people. The company accounts for 26% of the total oil and gas condensate and 15% of natural and associated gas production in Kazakhstan, 56% of oil transportation via oil pipelines and tankers from the port of Aktau, as well as 79% of natural gas transportation via main gas pipelines and 82% of oil refining in Kazakhstan with a share of oil products retail market amounting to 17%. KMG also contributes to the economic growth of Kazakhstan and Romania by employing over 83 thousand people. We recognise that our long-term success depends on how effectively, transparently and responsibly we conduct our business. We are committed to support and develop the expertise and knowledge of our human capital as well as to work closely with the communities to ensure operational excellence in regions where we operate. We also understand that the company holds the responsibility to continuously improve its environmental performance by reducing its environmental footprint, improving the products and introducing innovative green technologies. -
Production of First Barrels of Oil from the Kashagan Field in the North Caspian Sea, the Republic of Kazakhstan
September 12, 2013 NEWS RELEASE ｗｗｗ.jogmec.go.jp Japan Oil, Gas and Metals National Corporation Contact: Project Department TEL：03-6758-8668 Media Relations: Public Relation Division TEL：03-6758-8106 Production of First Barrels of Oil from the Kashagan Field in the North Caspian Sea, the Republic of Kazakhstan JOGMEC (President: Hirobumi Kawano) announced today that the first well was opened and initial volumes of oil are being produced from the giant Kashagan field in the North Caspian Sea, the Republic of Kazakhstan on 11 September 2013, where INPEX North Caspian Sea Ltd. participates enjoying JOGMEC’s equity financing and loan guarantee programs. The giant Kashagan field is located 80 km offshore Atyrau in the northern part of the Caspian Sea of the republic of Kazakhstan with spanning an area of 75km by 45km; water depth 3-5 m; 4,200 m below the seabed. North Caspian Production Sharing Agreement (NCSPSA）was signed 1997 with the government of the Republic of Kazakhstan, the oil discovery was declared in 2000 followed by declaration of commerciality in 2004. INPEX North Caspian Sea Ltd. acquired the participating interest in September 1998 and has proceeded the development of the giant Kashagan field with consortium partners of KazMunayGas (KMG), Eni, Shell, ExxonMobil, Total, ConocoPhillips through the project operator NCOC. The production rate in the initial period is planned at 180,000 barrels per day (b/d). Thereafter the production is anticipated to be progressively ramped up towards a production capacity of 370,000 b/d. ■ Background Information 1. Corporate Data: INPEX North Caspian Sea Ltd. -
Special Energy Issue on Kazakhstan |April 2018
Special Energy Issue on Kazakhstan |April 2018 CONTENTS GENERAL ........................................................................................................................... 1 OIL & GAS PRODUCTION .................................................................................................. 3 OIL & GAS EXPORT & TRANSPORTATION ......................................................................... 3 OIL & GAS INFRASTRUCTURE ........................................................................................... 5 PROCESSING & REFINERY ................................................................................................. 6 RENEWABLE ENERGY ........................................................................................................ 6 INDUSTRY EVENTS IN 2018 .............................................................................................. 7 CONTACTS ........................................................................................................................ 7 The Economic Section of the Embassy of the Kingdom of the Netherlands in Kazakhstan intends to distribute this newsletter as widely as possible among Dutch institutions, companies and persons from the Netherlands. The newsletter summarises economic news from various Kazakhstani and foreign publications and aims to provide accurate information. However, the Embassy cannot be held responsible for any mistakes or omissions in the bulletin. SPECIAL ENERGY ISSUE, April 2018 Embassy of the Kingdom of the Netherlands GENERAL -
Massive and Misunderstood Data-Driven Insights Into National Oil Companies
Massive and Misunderstood Data-Driven Insights into National Oil Companies Patrick R. P. Heller and David Mihalyi APRIL 2019 Contents EXECUTIVE SUMMARY ............................................................................................................................... 1 I. UNDER-ANALYZED BEHEMOTHS ......................................................................................................... 6 II. THE NATIONAL OIL COMPANY DATABASE .....................................................................................10 III. SIZE AND IMPACT OF NATIONAL OIL COMPANIES .....................................................................15 IV. BENCHMARKING NATIONAL OIL COMPANIES BY VALUE ADDITION .....................................29 V. TRANSPARENCY AND NATIONAL OIL COMPANY REPORTING .................................................54 VI. CONCLUSIONS AND STEPS FOR FURTHER RESEARCH ............................................................61 APPENDIX 1. NOCs IN NRGI’S NATIONAL OIL COMPANY DATABASE ..........................................62 APPENDIX 2. CHANGES IN NOC ECONOMIC DATA AS REVENUES CHANGED..........................66 Key messages • National oil companies (NOCs) produce the majority of the world’s oil and gas. They dominate the production landscape in some of the world’s most oil-rich countries, including Saudi Arabia, Mexico, Venezuela and Iran, and play a central role in the oil and gas sector in many emerging producers. In 2017, NOCs that published data on their assets reported combined assets of $3.1 trillion. -
New Insights Into Hydrocarbon Plays in the Caspian Sea, Kazakhstan
introductionThematic Article18X10.1144/1354-079311-045D. Okere & S. ToothillNew insights into hydrocarbon plays, Caspian Sea 2011-0452012 Downloaded from http://pg.lyellcollection.org/ at Oregon State University on December 1, 2014 New insights into hydrocarbon plays in the Caspian Sea, Kazakhstan Davies Okere* and Steve Toothill Multi-client and Global New Ventures Geoscience, CGGVeritas Services (UK) Ltd, Crompton Way, Manor Royal Industrial Estate, Crawley RH10 9QN, UK *Corresponding author (e-mail: [email protected]) ABSTRACT: New exploration opportunities and improved imaging of already known prospects in the Caspian Sea, Kazakhstan, are presented, based on the acquisition, processing and interpretation of long-offset 2D seismic data acquired by CGGVeritas from 2006–2009. We have identified further examples of three already successful plays in the Caspian Sea and onshore, within open blocks in the North Caspian and North Ustyurt basins and a fourth, relatively unknown play, in the North Ustyurt basin. The already known plays include Devono-Carboniferous carbonate reefs and clastics, Triassic–Tertiary post-salt clastics and carbonates in the North Caspian basin and Jurassic–Cretaceous post-thrust clastics and carbonates in the North Ustyurt basin. The fourth play that we have identified comprises thrust faults, anticlinal structures with Late Palaeozoic–Early Mesozoic clastic and carbonate reservoirs in the North Usty- urt basin which, to our knowledge, has not been tested elsewhere in the region. INTRODUCTION both onshore and offshore have been identified in the open blocks offshore and these are estimated to hold significant The study area is situated in the northernmost part of the hydrocarbon reserves in the northern Caspian Sea. -
Materials for the Extraordinary General Meeting of Shareholders of Kazmunaigas Exploration Production JSC (“Company”) 14 April 2014
Materials for the Extraordinary General Meeting of Shareholders of KazMunaiGas Exploration Production JSC (“Company”) 14 April 2014 An extraordinary general meeting of shareholders (“EGM”) has been called pursuant to resolution adopted on 28 January 2014 by the Board of Directors of KazMunaiGas Exploration Production JSC (“KMG EP” or “Company”). The EGM is to be held on 14 April 2014 at: 17 Kabanbay Batyr, Astana at 10:30AM with the following agenda: On 28 January 2014 the Board of Directors of KazMunaiGas Exploration Production JSC (“KMG EP” or “Company”) called an extraordinary general meeting of shareholders (“EGM”) for 14 April 2014 to be held at: 17 Kabanbay Batyr, Astana at 10:30AM with the following agenda: 1. Appointment of members to the Board of Directors; 2. Amount and terms of compensation package for the members of the Board of Directors of KMG EP. Pursuant to Article 10.16 of the Company’s Charter, the notice of the EGM was published in the Kazakhstanskaya Pravda and Yegemen Kazakhstan newspapers on 8 February 2014. 1. Appointment of members to the Board of Directors Pursuant to the resolution adopted by the extraordinary general meeting of Company’s shareholders adopted on 16 April 2013, the term of the Board was set at three years, i.e. through 15 April 2014. The EGM is held following a resolution adopted by the Company’s Board on 28 January 2014. The notice of the EGM was published in the Kazakhstanskaya Pravda and Yegemen Kazakstan newspapers on 8 February 2014 (pursuant to Article 10.16 of the Company’s Charter). -
Kazakhstan Systematic Country Diagnostic
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Report No. 125611-KZ A new growth model for building a secure middle class Kazakhstan Systematic Country Diagnostic April 2018 Contents Acknowledgments .......................................................................................................................... viii Abbreviations .................................................................................................................................... x 1. Setting the stage: Poverty, shared prosperity, and jobs in a changing economic context .................. 1 1.1 Trends in poverty reduction and shared prosperity ........................................................................... 4 1.2 Jobs, earnings, and productivity ........................................................................................................ 13 1.3 Looking ahead—four mutually reinforcing strategic pillars for building a secure middle class ....... 18 2. Strategic Pillar 1: Economic management for diversification ......................................................... 21 2.1 Understanding the components of economic growth in Kazakhstan ............................................... 21 2.2 Fiscal and monetary policy during commodity cycles ....................................................................... 26 2.3 Governance and public sector effectiveness ...................................................................................