The Kazakhstan Ministry of Oil and Gas cannot name the date of resumption of oil production on the Kashagan field, Minister Uzakbay Karabalin told journalists after the government session on Tuesday.
“We do not have final information available yet. The results have not been submitted yet. As soon as we get the results, we will have a clear picture,” Karabalin said.
The signs of gas leakage were detected during check-up of the gas pipeline from the Island D to the Bolashak plant on October 9, 2013.
The source close to the project said that the reasons of the gas leakage on Kashagan will be announced after December 15, 2013.
The same source said that the production has been suspended, because of the gas transportation system, which connects the island and the Bolashak plant.—0—
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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