Ilham Aliyev Expects for the First Gas From the Caspian Field “Absheron” This Year
Baku is waiting for the first gas from the Absheron field in the Caspian Sea already in 2023, Azerbaijani President Ilham Aliyev said at the fourth international conference on the topic “Formation of the geopolitics of Greater Eurasia: from past to present and future”, which is taking place in Shusha. …
Associated Gas Production in Azerbaijan Decreased by 3% in the First Quarter
Associated gas production in Azerbaijan in the first quarter of 2023 amounted to 3 billion 809.09 million cubic meters, which is 2.9% lower than in January-March 2022, a source in the oil and gas market told Interfax-Azerbaijan. “In the reporting year, 3 billion 809.09 million cubic meters of associated gas …
Gazprom and SOCAR Review Potential Cooperation Prospects
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Rovshan Najaf, President of the State Oil Company of the Azerbaijan Republic (SOCAR), took place today. The parties discussed the ongoing interaction between the companies and potential avenues for their cooperation. Source
SOCAR Increases Drilling Works by 19% in 2022
The volume of drilling by SOCAR’s drilling departments in 2022 amounted to 73,084 meters, SOCAR told Interfax-Azerbaijan. “In 2022, drilling volumes for the company amounted to 73,084 thousand meters. Compared to 2021, the company increased the volume of drilling work by 18.6% last year,” SOCAR said in a statement. As …
LUKOIL Increases its Share in the Shah Deniz Project in the Caspian Sea
PJSC LUKOIL announces conclusion of an agreement on acquiring 15.5% interest in the Shah Deniz natural gas project in the Azerbaijan sector of the Caspian Sea from PETRONAS. The value of the transaction will amount to $2.25 billion, and the completion is subject to fulfilment of conditions precedent, including approval …
LUKOIL: Enters Exploration Project in Caspian Sea
On 28 September 2021, PJSC LUKOIL signed an agreement on acquiring a 25% participating interest in the Shallow Water Absheron Peninsula (SWAP) exploration project in the Azerbaijan sector of the Caspian Sea from bp. The deal is expected to complete before the end of 2021, following its approval by the …
SPE’s 8th Annual Caspian Technical Conference Returns to Baku
The Society of Petroleum Engineers (SPE) will hold the 8th edition of the Caspian Technical Conference (CTC) across 5-7 October 2021. Returning to Baku, Azerbaijan, this year’s theme covers: ‘Adapting to New Realities – Maximising Efficiencies and Productivity’. The oil and gas industry has experienced highs and lows in recent times …
SOCAR, Equinor Confirm Discovery of Karabagh Oil Field in Azerbaijan
SOCAR and Norway’s Equinor have confirmed a discovery of Karabagh field located 120 kilometers offshore, east of Baku, in the Azerbaijan sector of the Caspian Sea. Drilling of the first appraisal well at Karabagh oil field was started on December 23, 2019. The well was drilled in water depth of …
Uzbekneftegaz, SOCAR Eyeing Joint Oil Production in the Caspian Sea
Uzbekneftegaz and SOCAR are set to explore the opportunities for joint oil production in the Caspian Sea, the Uzbekistan Ministry of Energy said. The First Deputy Minister of Energy of Uzbekistan, Jurabek Mirzamakhmudov and Chairman of Uzbekneftegaz, Bakhodir Sidikov during the talks in Baku with SOCAR President, Rovnag Abdullayev discussed …
Uzbekistan Says Three Upstream Gas Deals Close to Signing
Uzbekistan plans to sign at least three deals with large foreign energy companies this year and five more next year as it aims to boost its natural gas output, chief executive of state energy firm Uzbekneftegaz said on Friday. The list of potential partners in exploration and development agreements includes …