Kaliningrad Offshore Area Transferred to Caspian Oilmen
LUKOIL-Kaliningradmorneft has been placed under the management of LUKOIL-Nizhnevolzhskneft LLC. The restructuring was carried out to centralise the management of LUKOIL’s offshore projects. The changes took place in the fourth quarter of 2025, according to Interfax. The managing company is expected to conduct production and commercial activities aimed at the …
LUKOIL Reduced Oil and Gas Production in Russia in 2025, While Refining Partially Recovered After 2024 Maintenance
LUKOIL reduced oil production in Russia in 2025 by 2.1% compared to 2024, while refining increased by 2.3%. This follows from the company’s 2025 annual report, published in materials for the shareholders’ meeting scheduled for April 23, 2026. Financial Aspect The company does not separately disclose financial results for 2025, …
KazMunayGas Suspends Development of Caspian Fields with LUKOIL Due to Sanctions
The implementation of a project involving LUKOIL for the development of the Kalamkas-Sea and Khazar fields in the Kazakh sector of the Caspian Sea has been suspended, Chairman of the Management Board of KazMunayGas, Askhat Khassenov, said during a video conference with analysts. “Last year, we completed the design phase …
Tengizchevroil Reported an “Incident” at Tengiz on March 11
An incident occurred at the Tengiz field on March 11, the press service of Tengizchevroil (TCO) told Interfax-Kazakhstan. “TCO confirms that on March 11, 2026, an incident occurred at one of the facilities at the Tengiz field. There were no casualties, and the company is conducting a root cause assessment …
BP Stated That Sanctions Against LUKOIL Do Not Affect Oil Production at Shah Deniz
Production at the Shah Deniz field in the Caspian offshore continues at full capacity despite Western sanctions against LUKOIL, which holds nearly 20% in the project, said BP Regional President for Azerbaijan, Georgia and Turkey Giovanni Cristofoli at a press conference in Baku. “Management of the company’s share and revenues …
Due to the Caspian Sea Shallowing KazMunayGas and LUKOIL Will Build a Canal
A “one-time” passage is necessary for the development of the Kalamkas-Sea and Khazar hydrocarbon fields. KazMunayGas and LUKOIL will build a canal in the Caspian Sea to develop the Kalamkas-Sea and Khazar fields. This will have to be done due to the drop in the Caspian Sea level. Thus, the …
LUKOIL Faces Logistics Challenge in Kazakhstan Project Due to Caspian Sea Shallowness
KazMunayGas (“KMG“) and LUKOIL will build a channel in the Caspian Sea to develop the Kalamkas-Sea and Khazar fields. This is stated in the project participants’ environmental impact assessment report. The contract area is located in the Kazakh sector of the Caspian Sea, 120 km southwest of the Kashagan field. …
Sierra Leone to Auction 60 Offshore Oil and Gas Blocks at the End of the Year
Sierra Leone will delay its new oil and gas auction until the end of the year as the country awaits results from a large-scale seabed survey that has just concluded — the first such study in over ten years, according to Reuters. Last month, the company GeoPartners, together with the …
Tatneft Prepares for CO2 Injection into the Reservoir
Tatneft has received a subsurface license for the Tukaevsky-1 site in Tatarstan for the construction and operation of underground facilities where the company plans to store carbon dioxide (CO2). The site covers the territories of the Nizhnekamsky, Tukaevsky, and Zainsky districts, according to Interfax. According to the State Register of …
Ministry of Energy of the Republic of Kazakhstan: The Tengiz Field Will No Longer Increase Oil Production
Oil production in the Republic of Kazakhstan rose by 2% from the April average, reaching 1.86 million barrels per day (bpd) between May 1 and May 19, according to Reuters. The Tengiz field alone contributed 932,000 bpd to this total. In April, Kazakhstan reduced its oil output by 3% month-on-month, …