Vitol Plans Liquefied Petroleum Gas Foray in Kazakhstan
Vitol, the world’s top oil trader, plans to access liquefied petroleum gas (LPG) from the giant Kashagan field in Kazakhstan and may finance the construction of a processing and export facility, industry and company sources told Reuters. LPG is mainly a by-product of oil development at the field and at …
LUKOIL and Eni Signed Agreement on Projects in Mexico
JSC “LUKOIL” and Eni signed Farm-Out Agreement on Blocks 10, 12 and 14 in the Mexico’s shallow waters. The Agreement enables to expand LUKOIL’s exploration portfolio in the region, diversify risks and build up exploration competencies. According to the Agreement, LUKOIL assigns 40% in Block 12 to Eni, retains the …
Energy Majors to Pay Kazakhstan $1.1 Billion to Settle Karachaganak Row
Energy majors developing the Karachaganak gas condensate field will pay $1.1 billion (£844 million) to Kazakhstan to settle a profit-sharing dispute, Kazakhstan’s Energy Ministry said on Monday. Kazakhstan and the consortium led by Shell <RDSa.AS> and Eni <ENI.MI> will also amend the terms of their production-sharing agreement so that the …
Eni: Standard & Poor’s Raises Long Term Credit Rating to A-
Rating agency Standard & Poor’s has raised Eni’s long-term credit rating to ‘A-’ with Stable outlook. Standard & Poor’s also confirmed Eni’s ‘A-2’ short-term credit rating. S&P‘s decision is based on the improvement in Eni’s current and forecasted credit metrics, thanks to the company’s debt reduction and cash flow generation. …
Luca Vignati, Executive Vice President, Central Asia Region at Eni, Talks About the Firm’s Journey in Kazakhstan, its Key Achievements Over the Last Year, and Support from the Authorities
How would you describe Eni’s remarkable journey in Kazakhstan since the company first established in the local market in 1992? The past 25-plus years in Kazakhstan have been an incredibly exciting for Eni, and we are very proud to have been engaged in two world-class projects—Karachaganak and Kashagan—since their inception. …
Karachaganak: Dispute to End Shortly?
Kazakhstan aims to settle its profit-sharing dispute with energy majors developing the Karachaganak gas condensate field within a month, the energy minister said on Thursday. The former Soviet republic expects a large one-off payment from the companies and a higher share of future revenues from the development of one of …
Eni: HPC4 Supercomputer Delivers Record Breaking Reservoir Model Simulations
Eni’s industry-leading HPC4 supercomputer, recently deployed in Eni’s Green Data Center facility, performed a breakthrough calculation, opening the path to a new era for reservoir engineering numerical modeling. HPC4 executed 100,000 high-resolution reservoir model simulation runs, taking into account geological uncertainties, in a record time of 15 hours. In comparison, …
Rosneft: Completes Super Deep Maria-1 Well at the Zapadno-Chernomorskaya License Area
Rosneft has completed the drilling of the first super deep exploration and appraisal well Maria-1 on the Zapadno-Chernomorskaya license area offshore the Black sea. The water depth at the drilling site reaches 2109 meters. The actual well depth is 5265 meters. Drilling this well discovered a unique carbonate structure with …
Eni: Full Year 2017 and Fourth Quarter Results
Exploration & Production Hydrocarbon production at record level: – reached 1.92 million boe/d in December 2017, marking an all-time high for Eni; – produced an average of 1.89 million boe/d in the fourth quarter, the highest quarterly production in the last seven years (up by 1.9%); FY production averaged 1.82 …
Eni: Acquires 50% of the Isatay Block in Kazakhstan
The Ministry of Energy of the Republic of Kazakhstan, Eni and KazMunayGas (KMG) signed yesterday the agreement to transfer to Eni 50% of the subsoil use rights of the Isatay block, located in the Caspian Sea, for exploration and production of hydrocarbons. The block is estimated to have significant potential for …