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 …
KazMunayGas Will Drill 3 Exploration Wells in 2024
The Chairman of the Board of KazMunayGas (KMG) M. Mirzagaliev took part in an international scientific and practical conference dedicated to the oil and gas future of the Mangystau region, where he spoke about the prospects for the development of geological exploration and the company’s plans in this area. This …
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 …
Investments in Project of LUKOIL and KMG in Caspian Sea Could Amount to $6.5 Billion
Deputy Chairman of the Board of KazMunayGas Kuanysh Kudaibergenov clarified that KMG’s share in the project is 50% The volume of investments in the project of the national oil and gas company of Kazakhstan Kamunaigaz (KMG) and the Russian Lukoil Kalamkas – Khazar Operating may amount to about $6.5 billion. …
Lukoil Intends to Invest 14.5 Billion Rubles in Geological Exploration in Komi and the Nenets Autonomous Okrug Over Four Years
It is planned to construct seven prospecting and five exploration wells. LLC Lukoil-Perm (a subsidiary of PJSC Lukoil) intends to invest 14.5 billion rubles in geological exploration in the Komi Republic and the Nenets Autonomous Okrug over the next four years. The company expects to annually increase 5 million tons …
Lukoil May Increase Investments In Geological Exploration By 30% In 2024
According to the head of the company’s geological exploration department, Alexander Semyanov, investments could grow to 47 billion rubles compared to 36 billion rubles in 2023. Lukoil’s investments in geological exploration may grow by 30% this year – to 47 billion rubles, compared to 36 billion rubles in 2023, follows …
LUKOIL Will Again Not Receive The Nadezhda Shelf Area In the Baltic
The government again refused to issue a license to LUKOIL: this time it is asking the company to update the environmental study on the project. Since 2016, LUKOIL has been unable to obtain permission from the authorities to issue a license for the Nadezhda offshore hydrocarbon area located in the …
Tengiz Expansion Project is Planned to be Completed at the End of 2024 – Head of the Ministry of Energy of Kazakhstan
Work on the implementation of the Future Expansion and Wellhead Pressure Management Project (FGP-WPMP) at the Tengiz field is progressing behind schedule and is scheduled for completion at the end of 2024, said Kazakhstan’s Energy Minister Almassadam Satkaliyev. “The reasons why there was a delay in the implementation of the …
Costs For Tengiz Increased By Another $1.5 Billion
The operator of the project for the development of the Kazakh Tengiz field, American Chevron, has again increased the amount of necessary investments in the expansion of the project. The cost of expanding production at the giant Tengiz oil field in Kazakhstan has increased by another $1.5 billion, Bloomberg writes, …
KazMunayGas Plans To Drill Three Exploration Wells This Year
“KazMunayGas plans to drill more than three exploration wells this year,” said Magzum Mirzagaliyev, Chairman of the Company’s Board, in an interview with the press service. Equipment is already being mobilized at a well in the Kyzylorda region at the Turgai Paleozoi site; it is planned to go to great …