A Framework Agreement Was Signed with BP on Operations on the Caspian Shelf of Azerbaijan
The total cost of services is estimated at about $ 300 million. The framework agreement on underwater work in the territorial waters of Azerbaijan in the Caspian Sea was signed in Milan on July 12, 2024. This was reported in the Italian company Saipem. The document was signed between the …
BP and Trinidad and Tobago’s State Energy Company NGC Have Won a US License to Develop Gas in Venezuela
BP and Trinidad and Tobago’s state energy company NGC have been granted a two-year license by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) to develop the Cocuina and Manakin gas fields, which cross the border with Venezuela, according to the Trinidad and Tobago Energy Chamber’s website. Washington …
BP Receives US Permit to Extract Gas in Venezuela
British BP and its partner from Trinidad and Tobago, NGC, were able to obtain a license from the US authorities to work in Venezuela. The license was issued for 2 years to explore the Manakin-Cocuina gas asset, Reuters writes, citing the Trinidad Ministry of Energy. It is specified that BP …
BP Suspends Negotiations with Venezuela to Develop Manakin-Cocuina Gas Field
BP has suspended negotiations with Venezuela on the development of a gas project on the maritime border with Trinidad and Tobago. This was reported by Reuters with reference to a company representative. BP’s negotiations with Venezuela and Trinidad to develop the Manakin-Cocuina field in the Caribbean, which is common to …
Italian Saipem Has Signed a Contract with Azule Energy to Develop the Ndungu field offshore Angola
The contract value is $850 million. Italian energy company Saipem has awarded a contract to Azule Energy, a joint venture between Eni and BP, to develop the Ndungu field as part of the Agogo Integrated West Hub project offshore Angola. Saipem is one of the largest in the world, an …
Uzbekistan Plans to Enter the Shah Deniz project in the Caspian Sea
Uzbekneftegaz plans to become a participant in the project to develop the Shah Deniz gas field in the Azerbaijani sector of the Caspian Sea, Minister of Investment, Industry and Trade of Uzbekistan Laziz Kudratov told reporters on Tuesday. “Uzbekneftegaz” and SOCAR (State Oil Company of Azerbaijan, SOCAR) may sign an …
Exxon and Chevron Are Ahead of European Rivals Due to Production in Guyana and the United States
ExxonMobil and Chevron are increasing production in some production regions, with oil becoming the driver of growth. ExxonMobil and Chevron forecast that their production in the Permian Basin will increase by 10% this year. Exxon also reported that oil production in Guyana in the first quarter increased by 70% compared …
BP is Simplifying its Organisational Structure, Supporting Delivery of the Priorities it set out in February 2024 to Grow the Value of BP
Simplified structure reduces duplication and reporting line complexity. William Lin to lead gas & low carbon energy business, following retirement of Anja- Isabel Dotzenrath. Emeka Emembolu to lead technology function, following Leigh-Ann Russell’s decision to leave bp for an external opportunity. bp is simplifying its organisational structure, supporting delivery of …
British BP Announced the Start of Oil Production from a New Offshore Platform in Azerbaijan
The British company expects production at ACE to reach about 24 thousand barrels per day in 2024. The British company BP announced the start of oil production from a new platform in the Azerbaijani sector of the Caspian Sea. “As part of the development of the Azeri-Chirag-Gunashli (ACG) field, the …
BP Predicted Production Growth in the Upstream Segment in the First Quarter
British oil and gas company BP Plc expects an increase in production in the upstream segment in the first quarter compared to October-December 2023, it said in a statement. In the gas and low-carbon energy subsegment, a slight increase in production is expected, while in the oil subsegment – a …