PSA

Norwegian oil and gas companies Aker BP and Equinor have explored new oil reserves near the Munin field in the North Sea. This was reported by the press service of the Norwegian Offshore Directorate (NOD). Exploration drilling at block 30/12 The Norwegian Ocean Industry Authority (NOIA), formerly known as the …

Indonesia has approved a development plan for the Rokan block, which involves increasing oil recovery by displacing oil with steam. Reuters reports this. Let us recall that steam displacement of oil is a method of enhanced oil recovery (EOR) of formations, the most common when displacing high-viscosity oil. The volume …

PSA, which oversees the production sharing agreement for the North Caspian and Karachaganak oil and gas projects in Kazakhstan, will be supporting this year’s SPE Caspian Technical Conference and Exhibition (CTCE), taking place in Astana from 1-3 November. PSA has agreed to be a supporting partner for the event, alongside …

BP and SOCAR (the State Oil Company of the Republic of Azerbaijan) today signed a new production sharing agreement (PSA) to jointly explore for and develop potential prospects in the shallow water area around the Absheron Peninsula in the Azerbaijan sector of the Caspian Sea. This new agreement is part …

Production sharing under Sakhalin-2 Project has begun. Starting March this year Russian Federation and Sakhalin Region will receive its share of profit production. “Production sharing began ahead of plan. This is not only a result of favourable market conditions, but first of all result of efforts of the whole company …

The history of the oil industry in the Caspian Sea is one of the oldest tales known in the Exploration & Production business. Few are those who are not aware of the role that the Caspian holds as the original oil producing centre of the world, with 3,000 producing wells …