Italian Saipem Will Carry Out Work at Shah Deniz and ACG for $300 Million
BP has signed a $300 million contract with a consortium led by Italy’s Saipem for work on the Shah Deniz and Azeri-Chirag-Gunashli (ACG) offshore projects in Azerbaijan. Under the contract, Saipem, in cooperation with BOS Shelf and BOS Shelf International, FZCO agreed with the operator of Azerbaijani projects BP on …
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 …
Turkmenistan Produced 40.2 Billion Cubic Meters of Gas and 4.2 Million Tons of Oil in the First Half of the Year
During the meeting, it was reported that gas production in the country in January-June 2024 exceeded 40.2 billion cubic meters, oil extraction amounted to 4.2 million tons, Interfax writes with reference to local media. However, comparative data with last year is not provided. Earlier, it was reported that for the …
Kazakhstan to Launch Large-Scale Offshore Project
In 2026, construction of offshore platforms will begin for the joint venture of KazMunayGas and LUKOIL. In Kazakhstan, development of the Kalamkas-Sea and Khazar offshore oil and gas fields is beginning. The project is planned to attract more than $6 billion in direct investment. Up to 2,000 new jobs will …
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 …
80 Wells Will Be Drilled in Kazakhstan in 2024 to Search for Oil
According to Vice Minister of Energy Askhat Khasenov, it is planned to drill 80 prospecting and exploration wells in Kazakhstan in 2024, a Kazinform agency correspondent reports. He explained that, given the annual decline in oil production at the fields of the Kyzylorda region, in 2024, drilling of a deep …
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 …
The Cost of LUKOIL’s Purchase of 50% in Kalamkas-Khazar Operating LLP Amounted to $200 Million
PJSC LUKOIL, which last year acquired 50% of Kalamkas-Khazar Operating LLP (KCO), paid $200 million for this share, according to the annual report of KazMunayGas (KMG). “On February 9, 2023, the company and PJSC LUKOIL signed a purchase and sale agreement for a 50% share in the authorized capital of …
Turkmenistan Wants To Attract Foreign Investors To The Exploration And Development Of The Caspian Shelf
Turkmenistan plans to attract foreign companies to the exploration and development of fields on the Caspian Sea shelf, said the country’s ambassador to Russia Esen Aydogdiev. “President Serdar Berdimuhamedov instructed to continue to ensure a reliable supply of natural gas to domestic and foreign consumers. At the same time, emphasis …
The Search For Oil And Gas Facilities At The Expense Of Government Funds Will Begin In The Astrakhan Region For The First Time In 20 Years
Work to find new promising oil and gas facilities at the expense of public funds will begin in the Astrakhan region for the first time in 20 years, reports the press service of the regional Ministry of Industry, Trade and Energy. “In 2024, it is planned to begin a set …