It is not enough to open a hydrocarbon field; we should also give it a name, which will bring the good luck. What are the principles of choosing a name for the fields? Journalist Ryan Halliwell from the Houston Chronicle newspaper analyzed, how it happens in the world. And in its turn, the Petroleum Journal did the same in Kazakhstan.
For violation of the Energy Charter Treaty and “deprivation of the oil business» caused to the Moldovan businessman Anatol Stati, the owner of an offshore company Tristan Oil Ltd., International Court of Arbitration awarded Kazakhstan to pay $ 1.5 billion.
From April 1 the Agency of the Republic of Kazakhstan on Regulation of Natural Monopolies approved the increase of the tariff rate and the tariff estimates on the oil pumping through the oil pipeline system regulated service, provided by JSC KazTransOil . The tariff on the oil pumping through oil pipeline system regulated service, provided by JSC KazTransOil, has been approved in the amount of: for export - T5817, 2/1000 TKM exclusive of VAT; for the domestic market-T2931, 8/1000 TKM exclusive of VAT.
KazMunaiGas National Company is rightly considered to be one of the country’s economy locomotives. Today it provides about a third of overall oil production, nearly 96% of gas transportation, 67% of the pipeline transportation and 83% of oil refining in the country.
The largest national producing Company of the country - JSC KazMunaiGas Exploration Production (KMG EP) celebrates its 10th anniversary with good financial results: in the first half of 2014, the profit of the Company increased in 5.4 times.
Following the results of the first six months of the year, KazTransOil JSC, the national main oil pipeline operator of the Republic of Kazakhstan, has received a net profit of 36 billion 755 million KZT, which is 10% higher than in the same period of 2013. The agreements reached within the framework of the Eurasian Economic Union development gives confidence in further stable growth of indexes. The company took an active part in the preparation of a draft Treaty of the EAEC, and it is worth noting that Kazakhstan side managed to consolidate its position and interests in the energy area. Kairgeldy Kabyldin, the Executive Director of KazTransOil JSC speaks on the company expected future development.
On June 12, 2014, under the chairmanship of the President Nursultan Nazarbayev, 27th plenary session of the foreign investors Council was held, during which the President of Kazakhstan and the Prime Minister of Italy Matteo Renzi gave a new impulse for bilateral cooperation and further implementation of joint projects in Kazakhstan.
The National Company’s operational results of 2013 were summarized and its priorities for the current year were defined at the expanded Board of JSC National Company KazMunayGaz.
The Government of Kazakhstan is targeted at significant liberalization of the investment climate. It is a forced measure - according to official statistics, last year, the foreign direct investment inflow in the country decreased by $ 4.8 billion - up to $24,137 billion against $28,935 billion in 2012. Significant reputational damage to positioning of Kazakhstan as the "Oil Klondike" was caused by the accident at the Kashagan field almost immediately after the start of production in the autumn of last year.
The results of oil and gas industry operations within the year 2013 were summed up at an expandedsession of the board of the RoK, with the participation of the Ministry of Oil and Gas and Serik Akhmetov, the Prime Minister
Career prospects for women in the oil and gas industry have improved in recent years and an increasing number of women are taking advantage of those opportunities, according to the majority of energy professionals in the inaugural Global Diversity and Inclusion Report.
KUDAIBERGEN Almas Shayikbekuly, the Chairman of Service Companies Association of Kazakhstan KazService answers Petroleum questions.
– Almas, the Association KazService, which is chaired by you, consolidates oilfield service companies, working in different sectors of EPC services market. Therefore, it seems that you might know this market better than anyone. What are the main problems and hot buttons that you can see on it?
Despite the measures being taken by the State to develop the Kazakhstan content in procurements by subsurface users, this problem still remains topical and, in anticipation of the Kazakhstan’s accession to the WTO, is becoming an urgent imperative.
Minister of Oil and Gas of the Republic of Kazakhstan Uzakbai Karabalin gave exclusive interview to Petroleum magazine.
– Uzakbai Suleimenovich, first of all, let me congratulate you on your appointment as Minister for Oil and Gas of the Republic of Kazakhstan. You are an old friend and contributor to our magazine and we'd like to extend our special gratitude to you for agreeing to give this interview for readers of Petroleum.
Peter Costello, President & Asset General Manager BG Kazakhstan, answers the following questions for Petroleum
– Mr Costello, you have been appointed to the position of BG Kazakhstan President. Please, tell our readers a bit more about your previous roles.
Currently, the national company KazMunayGas is a vertically-integrated oil and gas producer performing the complete cyclical turnaround of operations ranging from exploration and production of hydrocarbons, their transportation and processing to rendering specialized services.