Oil Production at Kashagan Halted for Scheduled Maintenance
Scheduled major repairs began on Monday at the Kashagan oil and gas field in Kazakhstan. The Ministry of Energy reported that the repairs, initially planned to start on October 3, were rescheduled to October 7. Energy Minister Almasadam Satkaliyev informed reporters that the maintenance would last 30 to 40 days, with management from the NCOC consortium aiming to complete it in 30 days. In 2023, the field produced 18.8 million tons of oil. NCOC shareholders include KMG Kashagan B.V., Shell Kazakhstan Development B.V., Total EP Kazakhstan, and others.
Energy
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The State Oil Fund of Azerbaijan (SOFAZ) reported revenues of $364.465 million from the “Shah Deniz” gas field in the Caspian Sea's Azerbaijani sector from January to September this year, this is by $818.535 million or 3.2 times lower than the same period in 2023.
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European Union (EU) countries increased their gas imports from Azerbaijan by 5.5% in the period from January to July 2024, totaling 297,765 terajoules (TJ) compared to the same period last year.
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From January to September this year, over 1150 students interned at the State Oil Company of Azerbaijan (SOCAR), SOCAR President Rovshan Najaf announced during a panel discussion titled "Synergy Turning Knowledge into Value" at the Education Development Forum. He emphasized that collaboration between industry and academia can occur in several areas, stating that educational institutions are a source of human capital for industries.
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Currently, 11 vessels are being constructed at the Baku Shipyard under contracts with the Azerbaijan Caspian Shipping Company (ASCO). The total contract value for these orders is $260.2 million.
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