Rus News Journal

The new oil project

In the Caspian consortium the Russian interests

In Azerbaijan will be presented yesterday work on preparation for signing with a consortium of the western oil companies of the contract on joint working out of deposits on a shelf of Caspian sea Azeri and Chirag is finished. Contract signing should pass 15 - on August, 25th in the USA. In a definitive variant of the contract it is provided 10 - percentage participation in the project of the Russian oil company LUKOIL . It is remarkable that participation of the Russian company in the project will promote that Ministry of Fuel and Energy were kept by control over extraction and oil transportation in territory of the former USSR.

Negotiations about signing of the developmental contract of the Azerbaijan deposits of Azeri and Chirag where it is concentrated to 500 million tons of oil, are conducted some years. After long negotiations by the first achievement there was a report on intentions on working out of deposits on a shelf of Caspian sea which on November, 2nd last year was signed by the government of Azerbaijan and a consortium of the western oil companies in structure BP, Shell, Amoco, McDermott, Shevron, Turkish Petroleum. Azerbaijan in the project is presented by Gosudapstvennoj the oil company. Russian thermal power station has from the very beginning become interested in this project, and its interests at negotiations were represented by the oil company LUKOIL . As a result it has received 10 - a percentage share in the project, and, accordingly, its share in the future profits will be not less. As a whole, according to the experts, project cost on working out of deposits - $7 mlrd, and the income of oil recovery - $50 billion Besides these investments are necessary about $1,4 mlrd on building of the oil pipeline with an exit to the Mediterranean terminal Jumurtalik in Turkey. The variant at which at the first development cycle of deposits for transportation the Russian oil pipelines will be used is possible.
to forthcoming signing of the contract the great attention is given by the Azerbaijan opposition. According to the vice-president of opposition party of national independence of Azerbaijan Nazima Imanova, contract signing will mean a step towards integration of the Azerbaijan economy in world and will bring to republic very essential increase to currency incomes that will allow to soften morbidity of processes of transition to market economy. However there are also opposite opinions. As vice-president Sotsial - democratic party of Azerbaijan considers Zardusht Alizade, that variant of the contract which is prepared for signing, does not meet requirements of Azerbaijan, but is rather favourable to a clan, correcting the country. At this Alizade means Aliev`s clan (Ilham Aliyev, Heydar Aliyev`s son, - the vice-president of the State oil company of Azerbaijan).
Despite the various points of view stated in Baku concerning the project, Russia in case of its realisation obviously appears in a prize. The project gives to Moscow the additional currency income; except that, the oil part will be exported anyway through the Russian territory. It quite is equitable to interests of Ministry of Fuel and Energy which are pursuing a policy of preservation of control over extraction, processing and oil transportation in territory of the CIS countries. The permission to Kazakhstan to increase through territory of Russia oil transit for export began last rather remarkable step to this direction. Under the information from the Central dispatching management of Ministry of Fuel and Energy if in II quarter the volume of export of the Kazakh oil did not exceed 200 - 250 thousand tons a month now it has reached 500 thousand tons. Thus Ministry of Fuel and Energy quite logically declares that this step is favourable also to the oil and gas enterprises of Kazakhstan, a unique which source of existence is the oil receipt.

MARAT - SALIMOV