Oil & Gas - The Times Of Central Asia

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Uzbekistan Offered Opportunity to Invest in Gas and Oil in Afghanistan

Afghanistan has offered Uzbekistan the opportunity to invest in oil, gas, and copper deposits in the provinces of Ghazni and Herat, and to create mineral processing plants. Nuriddin Azizi, the acting Afghan Minister of Industry and Trade, has proposed a meeting with Bobir Islamov, the Uzbek Minister of Mines and Geology. "Islamov reacted positively to the idea of an agreement on mutual support for investment between the two countries. He noted that two large copper processing plants are already under construction in Uzbekistan, which need to receive raw materials," reports state. It was also noted that following the talks, the parties agreed that a delegation from Uzbekistan would visit Afghanistan to conduct research and technical work.

Export/Import Oil & Gas Economy Judiciary

Case Opened Against Subsidiary of Russia’s Lukoil in Uzbekistan

The Committee for the Development of Competition and Consumer Protection of Uzbekistan has initiated a case against Lukoil Overseas Supply and Trading Ltd, a subsidiary of Russia's Lukoil, the Committee's press service has reported. The Committee's staff state that they identified signs of the manipulation of the price of technical sulfur by Lukoil in their selling of products through exchange trading. As a result, the price of technical sulfur rose between 10 to 50%, meaning the company violated the law "on competition." Additional information will be made available once the Committee reaches a decision on how it will proceed. Lukoil Overseas Supply and Trading Ltd was established in April 2010 as part of a marketing campaign for the sale of joint products during the implementation of production sharing agreements in respect to several gas fields. It entered the exchange-trade market for technical sulfur in Uzbekistan in 2015. Today, the company and Uzbekneftegaz dominate the technical sulfur market.

Investments China Oil & Gas Export/Import Economy

China Invests over $5 billion in Tajikistan’s Energy Sector

Since gaining independence, Tajikistan has implemented 35 energy projects with financial assistance from China of over $5.3 billion, reports Tajikistan's Ministry of Energy and Water Resources press service The Export-Import Bank of China has provided $880 million in soft loans to support projects financed by the PRC include the Dushanbe TPP-2, the Dushanbe-500 and Sughd-500 500 kW electric substations, the South-North 500 kW power transmission line (263.8 km), Rogun (263.8 km), Rogun-Dushanbe (198 km), 220 kW substations in Lolazor, Khatlon, Aini, Shakhriston, and Shahrinav, as well as 220 kW transmission lines from Lolazor to Khatlon and from Khujand to Aini. Tajikistan's energy sector has also benefitted from direct investments of $197 million by Chinese companies. Participants in the realization of investment projects in the country, as contractors and suppliers of equipment, currently include: leading design and construction company, Power Construction Corporation of China Limited (Power China), electrical and photovoltaic company TBEA Company Limited, one of the world's largest telecommunications companies, Huawei, energy company Sinohydro International Engineering, transformer equipment manufacturer Pinggao Group Co Ltd, and one of the largest electronics manufacturers Shenzhen Kaifa Technology. Within the oil and gas sector, Tajikistan has established cooperation with China National Petroleum Corporation (CNPC). The company, which conducts geophysical work, will begin seismic exploration of an area covering thousands of square kilometres, at the end of July 2024. Over the past year, memoranda on renewable energy development have been signed with TBEA and Powerchain leading to the funding and construction of a series of solar and wind power plants with a total capacity of 1,500 MW in Tajikistan.

Oil & Gas TAPI

Turkmenistan Discusses TAPI Pipeline with Officials from UAE, Pakistan

The Turkmenistan-UAE business forum was held in Turkmenistan on June 25. According to the portal Chronicles of Turkmenistan, the country has signed a memorandum of understanding with Abu Dhabi National Oil Company (ADNOC) on cooperation in developing the third stage of the Galkinish field, a potential primary supply source through the TAPI gas pipeline. This gas pipeline is essential for the country from an economic point of view, both at the national level and for transit countries and consumers. Turkmenistan's president Serdar Berdimuhamedov, and his father, the former president Gurbanguly Berdimuhamedov -- who is now the chairman of the country's People's Council -- discussed with Pakistan's minister for industries Rana Tanveer Hussain the construction of the TAPI (Turkmenistan-Afghanistan-Pakistan-India) gas pipeline project, and the TAP (Turkmenistan-Afghanistan-Pakistan) route. The discussions covered high-level visits between the two countries, trade and economic cooperation, transport communications, transit and trade collaboration, parliamentary cooperation, and people-to-people relations.

Karachaganak Green Energy Energy Oil & Gas

French Company Signs Contract With Karachaganak Consortium

Technip Energies NV, a French engineering and technology company in the energy sector, has entered into a five-year service agreement with Karachaganak Petroleum Operating B.V. (KPO) to develop the Karachaganak field in northwest Kazakhstan. According to representatives of Technip, the agreement covers a wide range of services, from consulting and conceptualization to detailed design of facilities and infrastructure. The project will be implemented through the joint venture TKJV LLP, created by Technip Energies in cooperation with the Kazakh company KPSP. Technip Energies is already engaged in projects in Kazakhstan, including the production of "green hydrogen" (Hyrasia One) and the construction of a gas processing plant at Kashagan. Earlier, Kazakhstan's energy minister, Almasadam Satkaliyev, announced the implementation of investment projects to expand Karachaganak. These projects are planned until 2028 and will maintain the production shelf at 11 million tons annually.

Oil & Gas Finance Export/Import Economy

Virtual Standstill in Tajikistan’s Baljuvan Oil Production

Production of oil and gas in the Baljuvan district in the southern mountains of Tajikistan, has virtually ceased. It previously provided natural gas to the neighbouring districts of Khovaling, Vosei, and Kulyab, According to the authorities, oil reserves in the area of Khatlon Oblast have all but disappeared. Baljuvan's oil wells currently reach a depth of 2,400 meters and for production to continue, wells must now be drilled to a depth of up to 6,000 meters . Referencing the situation, district chairman Bakhtiyor Safarzoda said, "Unfortunately, the same volume of oil is not being produced today as it was under the Union. The equipment here is already physically obsolete and worn out." Attempts to attract foreign investment in oil production in Baljuvan have now been ongoing for several years and a visit by Chinese investors to the wells two years ago, came to nought. According to the chairman of the Baljuwan district, foreign companies which initially agreed to develop new oil wells, reversed their decision after familiarizing themselves with the field, its characteristics, and forecasts. It should be noted that Tajikistan's proven reserves of oil raw materials are insignificant, amounting to 2.2 million tons, and the country's registered oil fields amount to just 28.