azerbaijan

Abu Dhabi National Oil Company Adnoc has agreed to buy a 30% stake in the Absheron gas field in the Caspian Sea, the state company said in a statement. Azerbaijan’s state oil company Socar and its French partner TotalEnergies SA will sell Abu Dhabi’s national oil company Adnoc a 15% …

Contracting companies for bp projects in Azerbaijan in the first half of 2023 completed orders worth $718.5 million, which is 10% higher than in January-June 2022, the bp-Azerbaijan press service told Interfax-Azerbaijan. “Out of the indicated amount, 14 joint ventures completed orders for $356 million, $22.3 million – 18 state-owned …

The French company TotalEnergies together with SOCAR (State Oil Company of Azerbaijan) has started production as part of the first phase of the development of the Absheron gas condensate field in the Caspian Sea. “TotalEnergies and its partner in the project, SOCAR, announced the start of production as part of …

The International Energy Agency (IEA) predicts an increase in oil production in Azerbaijan in 2024-2025 to 570,000 barrels per day (bpd). The IEA told Interfax-Azerbaijan that according to the agency’s estimates, in 2023 oil production in the country will amount to 520,000 barrels per day. In 2024, production will increase …

The international rating agency S&P Global Ratings predicts a decline in oil production in Azerbaijan by about 7% in 2023-2026. “Although oil prices were favorable, Azerbaijan’s production continued to decline. Azerbaijan is one of the oldest oil producers in the world, having started commercial production in the 19th century. Existing …

Gas production from deep-seated reservoirs (deep-gas) of the Azeri-Chirag-Guneshli (ACG) block of fields is planned by the end of 2024, Azerbaijani President Ilham Aliyev said. “If everything goes according to our plan, then by the end of next year we will have the first gas production (from deep-seated layers of …

Associated gas production in Azerbaijan in the first quarter of 2023 amounted to 3 billion 809.09 million cubic meters, which is 2.9% lower than in January-March 2022, a source in the oil and gas market told Interfax-Azerbaijan. “In the reporting year, 3 billion 809.09 million cubic meters of associated gas …

  MOL Group receives shipment of Azeri Light crude oil from ACG field in Azerbaijan, in which MOL is the third largest shareholder Seavelvet tanker carrying 90,000 tons of crude shipped from the Port of Ceyhan in Turkey to Omisalj in Croatia, from where the crude is transported to Slovnaft …

Turkmenistan and Azerbaijan signed a memorandum on joint exploration, development and development of the Dostluk (Druzhba) field in the Caspian Sea. The documents were signed by the Foreign Ministers of Turkmenistan Rashid Meredov and Azerbaijan, Jeyhun Bayramov. The event was received by videoconference by the head of Turkmenistan, Gurbanguly Berdimuhamedov, …

BP and partners have sanctioned the Azeri Central East (ACE) project, the next stage of development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oilfield complex in the Azerbaijan sector of the Caspian Sea. The $6 billion development includes a new offshore platform and facilities designed to process up to 100,000 barrels …