The Azerbaijan State News Agency

POLITICS

TO SATISFY GLOBAL NEEDS IN POWER RESOURCES REQUIRES MUCH OPPORTUNITIES
FIRST SESSION OF THE INTERNATIONAL EXHIBITION - CONFERENCE “CASPIAN OIL AND GAS - 2004 ” CONDUCTED UNDER SUCH MOTTO

In the first session which has been conducted on June 2 in the Baku hotel "Europe" co-chaired by the minister of fuel and power of Azerbaijan Republic Majid Kerimov and special representative of the Prime Minister of the Great Britain on development of opportunities of business, Member of Parliament Brian Wilson, took part representatives of the state, the local and foreign companies, and also experts of this branch took part.

At the session, were delivered the reports on the topic “Role of projects on extraction and transportation of oil and gas in sector of power of the Caspian region in satisfaction of global needs for power resources, the latest data on their realization and plans for the future” have been heard.

The minister who spoke of fuel and power of the Republic Majid Kerimov has told that Azerbaijan, which during ancient times has become famous for the oil, fairly was called “The Country of Fires”, about the industrial oil recovery which has begun here from 1847 and stages of development of branch. The Minister has noted, that the new period of development of the petroleum industry of independent Azerbaijan is connected to the name of our national leader Heydar Aliyev and today's achievements are real result of his long-term oil strategy. This strategy, having created favorable conditions for inflow to our country of large investments, has opened large opportunities for realization of activity in Azerbaijan of the companies of the US, Russia, England, France, Norway, Turkey, Canada, Italy, Japan, Saudi Arabia, China, Iran and other states, attraction in the oil industry of new technologies, development of small and medium business, and also for strengthening scientific and cultural links. Now, in Azerbaijan some thousand joint ventures function, and worldwide carry out activity more our 25 cultural centers. 22 contracts have been concluded with 33 companies of 15 states, which have interested in our oil-and-gas deposits and perspective structures. Within the last years in this branch, foreign investments for the sum over 8 billion US dollars have been involved. Since 1997, as a result of development of deposits "Azeri-Chirag-Guneshli” has been extracted more than 31 million tons of oil and over 6 billion cubic meter of natural gas.

Further, the lecturer with optimism has told about realization by immediate course of large-scale projects, about promotion under the schedule of construction within the framework of the said projects of Sangachal terminal, the Baku-Tbilisi-Ceyhan export oil pipeline and a spadework to construction of the Southern - Caucasian gas main, and also about real condition of operational and chisel works on sea deposits, has noted, that for the works stipulated at stages the Phase - 1, the Phase - 2 and the Phase - 3 of project "ACG, means for the sum of 12 billion US dollars will be spent, that construction of the oil pipeline will come to an end of this year, and the first oil will be put in port Ceyhan in the second quarter 2005, that, alongside with it, similar rates go the works stipulated in project "Shahdeniz”, construction of the gas main will begin in the first of June of the current year, and will end in September 2006.

The Minister spoke also about the international links of Azerbaijan in the field of power, successful activity of the foreign oil companies, their active participation in the public life of the Republic. He has expressed confidence that as a result of deliveries of power resources of the Caspian region to the markets of Europe and the world cooperation between the countries, which are included in the energy corridor East-West, will rise on higher level.

The deputy foreign minister of the Russian Federation, special representative of the President of Russia on settlement of legal status of the Caspian Victor Kalyuzhny in his report has emphasized, that in the Caspian region there has come the new historical period in extraction and export of oil and gas, that between our countries strong business ties were established, the company " LUKoil" carries out successful activity on the structure "Yalama-Samur", has told also about concurrence of positions of Azerbaijan and Russia on the question of division of the seabed of the Caspian.

Speaking at the event, the president of the company "bp-Azerbaijan" David Woodward with satisfaction has noted, that within 10 years after the conclusion of the "Contract of the Century ”, have been drilled 12 prospecting wells, by this time from deposit "Chirag" has been extracted 250 million barrels of oil, in works were involved more than 500 local companies, including more than 1500 citizens of Azerbaijan that move ahead under the schedule as civil work on Sangachal terminal, and there are no problems in construction of export oil-and gas mains in the territories of all three countries, and in this area, at the same time, was achieved transparency in all spheres.

The president of the Company "Statoil-Azerbaijan" George Gundersen has noted, that they take part in all oil-and-gas projects carried out in Azerbaijan, modern technologies from Norway are used and on the Caspian. At the same time, he has informed participants of the Conference, that oil projects would play an important role not only for Azerbaijan, but also for all region and the countries of Europe.

Other orators spoke about prospects of hydrocarbon resources in the Caspian region, the new technologies used in drilling and extraction, about transportation of passing gas coast, the role of Turkey as the power bridge between the East and West, deliveries of gas to Greece, and there from to Europe, and about other questions.

On June 3, the Conference has continued its work.

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