The 4th SOCAR International Caspian and Central Asia Downstream Forum on Trading, Logistics, Refining and Petrochemicals is underway in Baku on April 22, 2019.
The event is attended by about 300 representatives of the oil and gas sector of Azerbaijan, Europe and Central Asia including representatives of the biggest oil and gas companies, refineries, trading companies, ports, terminals, banks and analytical agencies.
Speaking at the event, First Vice President of Azerbaijan’s State Oil Company SOCAR Khoshbakht Yusifzade said that Azerbaijan supplied 506 million tons of oil to foreign markets so far, including 383 million tons transported via the Baku-Tbilisi-Ceyhan (BTC) pipeline.
Azerbaijan’s Energy Minister Parviz Shahbazov spoke about the country’s biggest gas project, the Shah Deniz field. He said that as of today, 104.2 billion cubic meters of gas and 25.1 million tons of condensate were produced at this field including 9.1 billion cubic meters of gas in January-March this year.
In his turn, BP Azerbaijan Vice President Bakhtiyar Aslanbayli talked about the Azeri-Chirag-Guneshli (ACG) block of fields and noted that there are plans to extract 3 billion barrels of oil from the block until 2049. According to him, $36 billion have been invested in the development of the ACG block, and 3.5 billion barrels of oil have been produced.
Azerbaijan’s Minister of Ecology and Natural Resources Mukhtar Babayev spoke about the impact of industrial production on the environment. He said that great attention is paid to environmental protection in Azerbaijan.
The forum will be held until April 25. The participants are discussing, among other issues, the development of energy sector of Azerbaijan, Uzbekistan, Turkmenistan and Kazakhstan; the SOCAR oil refining and petrochemical cluster in Turkey; the latest refining technologies for refineries; regional gas projects; possible imbalances in the global hydrocarbon market in 2019; new fields in the region and their impact on trade flows and export routes; and Caspian and Central Asian oil in a global context. The event participants will also visit the urea plant of SOCAR, SOCAR Polymer and the BP Sangachal terminal.
Having analysed the trends of the virus outbreak, with health and safety of our attendees, speakers, contractors and personnel in mind, after careful consideration the relevant SOCAR management in charge of the event and Confidence Capital have jointly taken a decision to move 5th SOCAR International Caspian and Central Asia Downstream Forum and SOCAR Drilling and Completions Forum dates to 29 June – 1 July 2020.
With regard to the outbreak of COVID-19 globally, Confidence Capital continues to monitor and follow the latest health and government authorities’ guidelines for the countries where we deliver our events and the markets we service as well as the advice provided by the World Health Organisation www.who.int.
For the first time in 17 years, Oil Traders’ School will be held not in Western Europe, but in Kazakhstan. Oil Traders’ School Confidence – the leading integrated training and professional development course for traders, oil and gas of companies’ management, operators.