To increase
Archive
#1 (85), February 2014
Exclusive
The growth of oilfield services will be higher than the economy growth in a whole
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?
Once Again on the Kazakhstan Content in Procurements by Subsurface Users
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.
Projects
Kashagan Expects for Verdict
Production of oil at the Kashagan field stopped just after beginning, though Kazakhstan relied on this production for joining the top ten largest oil producing countries in the world, as early as by 2015. The Government and the shareholders of the North Caspian project are waiting for the verdict: what to do with the pipeline, extending from the wells at the artificial islands to the onshore processing complex. Even in case of the most negative scenario, the pipeline may have to be re-installed.
Moldovan Investors' Adventures in Kazakhstan
In the first days of January, Tristan Oil Company issued an official statement about winning the arbitration proceedings on the claim to the Government of Kazakhstan in the amount of $506 million. According to Tristan Oil, the cause of the action was Kazakhstan’s capture of investments of Tristan Oil in Kazpolmunai LLP and Tolkynneftegaz LLP, acting as guarantors of issue of the covered bonds of Tristan Oil maturing in 2016.
KPO Reports 2013 Performance
Commenting on 2013 performance results, Damiano Ratti, KPO General Director, said: “I am pleased to announce that KPO has sustained our ‘World Class’ safety performance in 2013 by reducing our lost time incident (LTI) rates as compared to 2012. This performance is benchmarked against other Oil & Gas companies within the Oil & Gas Producer’s (OGP) Association and this achievement signifies KPO personnel’s commitment to safety, health, and environmental practices and standards.
Technology
Resevoir Characterization
Award-winning technology for deepwater exploration.
Intergrates with seismic data to assist with determining pew-drilling subsurface hydrocarbon presence.
Uses environmentally-friendly low-frequency electromagnetic wawes.
Focus of the Issue
Kazakhstan Chance in the Project of the Century
The shareholders of the JV “Tengizchevroil” and the Government of Kazakhstan finally approved the Future Development Project of Tengiz production field. As it was expected, Kazakhstan oilfield service companies can look forward to the contracts within the scope of this project to the amount of USD 8 thousand million at the least
Emba is in the Process of Re-Energizing
The subsidiary of the national company EmbaMunayGas, having an actual production only in 3 of 43 fields, needs both commissioning of new reserves and the intensification at the old wells. This offers great opportunities for service companies that will be able to proffer their services at a competitive price
Efficient Project Management with ITToolset
The processes of systematization, arrangement and management of the sophisticated information flow that arises during implementation of the complex projects can be organized through development and application of individual (specially created for the project) or standard (borrowed) tools based on the software solutions. The main software platforms include MS Office products, Business Intelligence systems, remote collaborative software (groupware), and integrated cloud services for project the management.
We Sell End Result Not Working Hours of Equipment
The 25th Annual Conference of the Honeywell User Group (HUG) took place in November 2013, in Nice, France, where the up-to-date technology and solutions for industrial enterprises were presented, including the expanded line of offerings for the oil and gas industry. A special correspondent of our magazine was present at the Conference, whose reportage is published in “Petroleum” #6, 2013. In addition, Mr John Rudolph, Vice President for Lifecycle Solutions and Services of the Honeywell, gave an interview to “Petroleum” within the framework of the Conference.
Legislation
Comparative Analysis of International Courts of Arbitration
For many years, the investors, including subsoil users, have reasonably taken the state courts with mistrust. There are certain presuppositions for that. After all, if the state is a party to the dispute, the decision of the Court is often not only of usual civilian nature, but rather of political one. Therefore, the objectivity, independence and impartiality of judges of state courts suffer.
The General Issues of Contractual Stability in the Civil Law and Stability Terms in Subsoil Use Contracts
The dispositivity (principle of optionality) in the civil law lays special emphasis on a contract as an agreement of the parties to a civil transaction, which sets forth their rights and obligations. Article 2 of the Civil Code of the Republic of Kazakhstan specifies that parties are free to establish their rights and obligations on the basis of a contract and in the determination of contract terms and conditions, which do not contradict the law.