THE 14TH CASPIAN INTERNATIONAL

OIL & GAS CONFERENCE INCORPORATING

REFINING AND PETROCHEMICALS

6th-7th June, 2007

Hyatt Regency Conference Centre,
Baku, Azerbaijan

REPORT
 The 14th Caspian International Oil & Gas Conference, one of the largest
specialised forums in the region was held on the 6th-7th of June in the Hyatt
Regency Conference Centre, Baku, Azerbaijan. About 500 delegates from 30
countries participated in the conference.

Organisers:
ƒ ITE Group Plc
ƒ Iteca Caspian LLC

Official support:
ƒ Ministry of Industry and Energy of Republic of Azerbaijan
ƒ State Oil Company of Azerbaijan Republic (SOCAR)

Sponsors:
ƒ Bos Shelf
ƒ BP
ƒ CISCO Systems International B.V.
ƒ ConocoPhillips
ƒ Cross Caspian Oil and Gas Logistics LLC
ƒ Edison S.p.A.
ƒ McDermott Caspian Contractors, Inc.
ƒ OMV
ƒ Platts
ƒ Pricewaterhousecoopers
ƒ Salans
ƒ Statoil
ƒ Total
ƒ Wintershall Holding AG

Information sponsor:
ƒ Caspian Energy

Information support:
ƒ Argus Media Ltd
ƒ APA Information Agency
ƒ Azerbaijan Review International Tourism Magazine
ƒ Azerbaijan Today International Magazine
ƒ Azernews Newspaper
ƒ The Baku Post Newspaper
ƒ Burman Sanderson & Co.
ƒ Caspian Energy International Publishing House
ƒ Caspian Publishing House
ƒ Consulting and Business Magazine
ƒ Contact Business Magazine
ƒ Data Media Systems
ƒ The Exhibitor Magazine
ƒ Expoua Promo-Center
ƒ Fuel & Energy Publishing House
ƒ Geoinformmark Ltd
ƒ Gulf Oil and Gas
ƒ Heren Energy
ƒ Inbaku Magazine
ƒ Kaspiy Daily Newspaper
ƒ Maximov Publication Ltd
ƒ MVDV Complex
ƒ Neftegaz International
ƒ Neft i Kapital Publishing House
ƒ Neft Rossii Magazine
ƒ Newsbase
ƒ Oil & Gas Eurasia
ƒ Oil & Gas Journal
ƒ Oil & Gas Production and Practical Magazine
ƒ The Oil & Gas Vertical Journal
ƒ Oilmarket International Magazine
ƒ Petrochem Group LLC
ƒ Pipeline magazine
ƒ Pipeline Transport: Theory and Practice
ƒ Research and Technology Magazine
ƒ Region Plus Magazine
ƒ Rogtec Magazine
ƒ Rusenergylaw LLC
ƒ Rusmarket.ru
ƒ Russian Petroleum Investor / Caspian Investor
ƒ SK Co. Ltd
ƒ Slant Ltd
ƒ CJSC SRIDS INJGEO
ƒ Templeton Thorp
ƒ Territoriya Neftegas Journal
ƒ Times Publications
 ƒ Transportweekly
ƒ Trend Analytical Information Agency
ƒ Upstream
ƒ Vistavochniy Most Information Agency
ƒ The Business Journal World Energy
ƒ World Pipelines
ƒ Yellow Pages International Publishing House
ƒ Yeni Igtisadiyyat
ƒ Zaman Group Ltd

Participants:

ACE Trading
Agence France Presse
Agip KCO
Amcham
AMEC
Argus Media
ASOA
Scientific Research Institute of “Geotechnological Problems of Oil, Gas and
Chemistry”
Austrian Federal Ministry of Economics and Labour
AVRO
Azerbaijan Today
Azerbaijan-Russia Chamber of Commerce and Industry of Business
Partnership
AZPROMO
Baker Petrolite
Batumi Oil Terminal
Belarusneft
Belarus State Concern of Oil and Chemical
Beltransgaz
BG Group
Bharat Petroleum Corporation Ltd.
Bloomberg News
Borusan Makina
Bos Shelf LLC
Boskalis Offshore bv
BOTAS-BIL, Ankara
BP
Bulgargaz-Holding EAD
Buzachi Operating Ltd
Caspian Analysis
Caspian Business News
Caspian Energy
Caspian Integration Business Club
Caspian Publishing House
Caspian Wireline Services Ltd
Chevron Khazar, Ltd
China National Offshore Oil Corporation
CISCO Systems International B.V.
ConocoPhillips
Consulate of Sweden
Consulate of the Thailand
Contact
Cross Caspian Oil and Gas Logistics LLC

Deloitte
Deloitte + Touche
Department of State's Bureau of European and Eurasian Affairs, USA
Department of Trade and Industry, UK
EBRD
EconGas GmbH
Edison S.p.A.
EGL AG
Embassy of Egypt
Embassy of France
Embassy of Georgia
Embassy of India
Embassy of Iraq
Embassy of Islamic Republic Iran
Embassy of Israel
Embassy of Italy
Embassy of Japan
Embassy of Kazakhstan
Embassy of Kingdom of Saudi Arabia
Embassy of Latvia
Embassy of Libya
Embassy of Pakistan
Embassy of People's Republic of China
Embassy of Poland
Embassy of Republic of Bulgaria
Embassy of Romania
Embassy of Russia
Embassy of Switzerland
Embassy of the Federal Republic of Germany
Embassy of the Hellenic Republic
Embassy of the Republic of Belarus
Embassy of the Republic of Korea
Embassy of the Republic of Moldova
Embassy of the State of Kuwait
Embassy of the United Kingdom of Great Britain and Northern Ireland
Embassy of Turkey
Embassy of Ukraine
Embassy of the United States of America
Embassy of Uzbekistan
Enel Trade SpA
Exxon Azerbaijan Limited
ExxonMobil Corporation
ExxonMobil International Limited
Facet Deutschland GMBH
Federal Ministry for European
and International Affairs
Federal Ministry of Economics and Labour of Austria
Federal Ministry of Economics and Technology, Germany
Foster Wheeler Bimas
Gas. Oil. Business of Tatarstan
GAZPROM
General Electric Oil & Gas
GOGC
Gomel Department of the Gas Mains
Heren Energy
Hydromashservice
ILF Consulting Engineers - Turkey
ITE Group Plc
Input/Output, Inc.
InterCom
Interpipe
Italian Trade Commission
Japan Oil, Gas and Metals
National Corporation
JSC Transneft
JSC Wissol Petroleum Georgia
Kaztransoil JSC
KNOC (Korea National Oil Corporation)
Kurmangasi Petroleum
McDermott Caspian Contractors, Inc.
Michael Wilson & Partners
Millennium Challenge Georgia Fund
Minimax Media Holding
Ministry of Economic Development of Italy
Ministry of Economic Development of the Republic of Azerbaijan
Ministry of Energy of Georgia
Ministry of Energy of Turkey
Ministry of Industry & Energy of the Republic of Azerbaijan
Ministry of Petroleum of Iran
MOL Plc
Morgan Stanley
Nefte Compass
Nexen Petroleum International Co.
Nobel Oil Ltd
Norwegian MFA
Oil & Gas Eurasia
Oil Capital
OLERNI LTD, Oil & Heavy Equipment Spare Parts Supply
OMV Gas International GmbH
OMZ Oil and Gas Projects
ORLEN Upstream Sp. z o.o.
OSCE
Permanent Representation of Republic of Tatarstan
PETROM S.A.
Petrovietnam Exploration -
Production Corporation
PGNIG (POLISH OIL and GAS COMPANY)
Platts
PricewaterhouseCoopers
Public Gas Corporation of Greece (DEPA)
Region Plus
Representation of Republic of Dagestan
Rogtec Magazine
Royal Norwegian Embassy
Royal Norwegian Ministry of Petroleum and Energy
RusEnergy
Russian News & Information Agency RIA Novosti
Russneft
RWE Dea AG
SALANS
Selberg Stern
Shell Azerbaijan Exploration & Production B.V.
Sinam
Single Buoy Moorings Inc.
Sinochem Kazakhstan Rep. Office
Sinochem Petroleum Exploration & Production Co., Ltd
Smith Production Technology
SOCAR
SOFAZ
Statoil
STX Energy Co. Ltd
Sumitomo Mitsui Banking Corporation Europe Limited
Territoriya Neftegas
Texas Nafta Industries, Inc.
The Economic & Commercial Consulate Office of the Embassy of People's
Republic of China
The International Bank of Azerbaijan
TOTAL
TPAO
TPIC (Turkish Petroleum Int. Co.)
Trade Representation of Russian Federation
Turkish Association of Petroleum Geologists (TPJD)
Representation of Turkish Republic of Northern Cyprus in Baku
TUSIAB
U.S. Department of Commerce
UCTEA Chamber of Geophysical Engineers
University of Calgary, Faculty of Law
University of Oxford
 Upstream
Vietsovpetro JV
VNG - Verbundnetz Gas AG
Wintershall Holding AG
Witteveen + Bos Kazakhstan
World Energy

This year's conference was devoted to Azerbaijan’s role in the sustainable

development of the Caspian’s oil and gas operations. Thanks to live intellectual
discussions it was possible to judge how strongly large scale oil and gas
projects in Azerbaijan have developped and which routes will be important
for oil and gas transporation throughout the Caspian Region.

At the opening ceremony of the conference Sir Andrew Wood GCMG,

Senior Advisor of ITE Group Plc and Rovnag Abdullayev, President of SOCAR
welcomed the delegates.

The topic of the plenary session was strategic development of the

Caspian Sea’s oil & gas operations. During the session, the delegation heard
presentations from the following speakers: Matthew J. Bryza, Deputy
Assistant Secretary, Department of State's Bureau of European and Eurasian
Affairs, USA, Ambassador Dr. Martin Eichtinger, Secretary General, Austrian
Federal Ministry of Economics and Labour, Anita Utseth, Deputy Minister, Royal
Norwegian Ministry of Petroleum and Energy, Hartmurt Schneider, Vice Minister,
Federal Ministry of Economics and Technology of Germany, Yusuf Yazar, Deputy
Undersecretary, Ministry of Energy & Natural Resources of Turkey, Bill Schrader,
President of BP Azerbaijan.

The second session was devoted to th exploration & production of

Azerbaijan’s oil and gas reserves. The keynote presentation was given by
Rovnag Abdullayev, President of SOCAR who spoke about gas production in
Azerbaijan and bringing its level to 8 billion cubic meters in 2008. The other
speakers of the session were Vincenzo De Luca, Diplomatic Advisor and General
Director for International Relations at the Italian Ministry of Economic
Development, Bjorn Ragnar Jacobsen, Senior Vice President Gas Marketing,
Statoil ASA, Daniel M. Houser, President of McDermott Caspian Contractors,
Inc., James Hogan, Partner, Salans.

The subject of the third session was international cooperation and

investment in the Region. Niyazi Safarov, Deputy Minister of Economic
Development of Azerbaijan gave the keynote presentation in this session.
During the session Dr. Walid Adnan Kurdi, Crude Oil Editor, Russian Urals and
Mediterranean grades, Platts Markets, Michael Munro, Director for Energy and
Materials of CISCO, Jean-Patrick Marquet, Senior Banker, EBRD Natural
Resources, Hasan Guney, Senior Geologist (M.Sc), TPAO Exp. Dept. Eastern
Black Sea Project gave presentations.

The second day of the conference started with the welcome address by
Sir Andrew Wood GCMG, Senior Advisor of ITE Group Plc and Academician
Khoshbakht Yusifzade, First Vice President of SOCAR, who gave the keynote
presentation at the plenary session devoted to safe and reliable transportation
of the Caspian's oil and gas resources. Gunther Newcombe, HSE Director of BP,
Philippe Morel, Deputy General Manager of KCTS Project, Total, John Roberts,
Energy Security Specialist of Platts gave presentations during the session.

The subject of the second session of the second day of the conference
was Azerbaijan and Turkey as regional oil and gas transportation hubs where
the alternative options were also discussed. The focus was on Nabucco, the
new gas transport project, 4 thousand kilometers in length which will supply
Central Asian and Caspian gas to Europe through Azerbaijan, Georgia, Turkey,
Bulgaria, Hungary and Austria. The estimated cost of ths project stands at
5 billion Euros. The keynote presentation was given by Elshad Nassirov,
Vice-President for Investment and Marketing of SOCAR. The other speakers
of the session were Mahmood Khaghani, Director General Caspian Sea
and CIS Countries Oil and Gas Affairs of the Ministry of Petroleum of Iran,
Reinhard Mitschek, Managing Director of Nabucco Gas Pipeline International
GmbH, OMV, Elio Ruggeri, Project Leader, IGI Project Development Team of
Edison S.p.A., Dr. Jennifer Coolidge, Department of Politics and International
Relations, University of Oxford, Naila Mehrabova, General Director of Cross
Caspian Oil and Gas Logistics LLC.

In the frame of the COG Conference 2007 there was a session devoted to
the extractive industries transparency initiative (EITI) where global norms for
revenue transparency were discussed. Anita Utseth, Deputy Minister of
Royal Norwegian Ministry of Petroleum and Energy gave the keynote
presentation of the session. The other speakers of the session were Shahmar
Movsumov, Chairman of the National EITI Committee, Executive Director of
State Oil Fund of Azerbaijan (SOFAZ), Suleyman Gasimov, Vice-President for
Economic Affairs of SOCAR, Sverre Olden Mala, Government & Public Affairs
Manager of Statoil, Clare Bebbington, Communications and External Affairs
Director of BP, Sabit Bagirov, EITI coalition, Jonas Moberg, Head of EITI
Secretariat, David Narmania, Georgian NGO Coalition “Transparency of Public
Finance”, Dorjdari Namkhaijantsan, EITI Mongolia, Malik Issabekov, EITI
Kazakhstan, Anarkul Dautalieva, Member of EITI Consortium, Kyrgyzstan.

Photo Gallery

Plenary Session of Day 1

Interviews
Delegates during the Conference

EITI Session
Coffee-Breaks
Speeches by Shahmar
Movsumov, Elshad Nassirov,
Daniel Houser, Naila Mehrabova, Elio Ruggeri, Michael Munro, Dr. Jennifer
Coolidge, John Roberts.
 In comparison with last year's conference, this year saw a good increase
in delegate participation, including a larger number of VIP delegates. This confirms
the elevated interest in Azerbaijan as a key route in transportation of Caspian
energy resources to Europe and USA. The conference has always played a large
the role in facilitating the signing of large contracts and the strenghthening
partnership relations among countries. We are sure that next year's event will see
further growth in what has become the main conference of the Caspian region.

The 15th Anniversary Caspian International Oil and Gas Conference will be
held on the 4th-5th of June, 2008 in the Hyatt Regency Conference Centre, Baku,
Azerbaijan.

If you need more detailed information on the conference please contact:

Mr Nicolas Peers
Conference Manager
ITE Group Plc.
105 Salusbury Road
London, U.K.
Tel: +44 207 596 5145
Fax:+44 207 596 5106
E-mail:nicolas.peers@ite-exhibitions.com