Kazakhstan is pressing ahead with $16.5 billion in claims against international oil majors over disputed project costs and has no plans for a possible out-of-court settlement, Energy Minister Almasadam Satkaliyev said on Tuesday.The legal wrangling…
Kazakhstan cut its oil production (excluding gas condensate) by 3% on a daily basis in May compared to April to 1.55 million barrels per day (bpd), Reuters calculations based on data from two sources familiar with preliminary data showed on Monday…
Oil output at Kazakhstan's giant Kashagan oilfield fell this month after its operator shut two offshore injection wells on May 20 following the detection of sour gas during routine sampling, the company said on Thursday.The North Caspian Operating…
Kazakhstan has started arbitration proceedings against companies developing its Kashagan and Karachaganak oilfields over $13 billion and $3.5 billion, respectively, in costs deducted as part of profit-sharing deals, its energy minister said on Tuesday…
Oil majors operating Kazakhstan's Kashagan and Karachaganak oil fields are being taken to arbitration by the country over allegations including unapproved spending, Bloomberg News reported on Wednesday, citing people familiar with the matter…
Kazakhstan-focused oil and gas company Caspian Sunrise has won a contract for its offshore drilling vessel, Caspian Explorer.The company, which bought the shallow-water drilling vessel back in 2020, said Tuesday the vessel would drill a well…
Liebherr-MCCtec Rostock recently shipped four new offshore cranes to the Umid Babek Operating Company (UBOC) for the Umid-2 gas project in Azerbaijan. The delivery of the Board Offshore Crane (BOS) series units marks Liebherr Rostock’s first offshore crane shipment to Azerbaijan…
Russian oil firm Lukoil has signed several agreements with Kazakhstan's KazMunayGas in Astana regarding the Kalamkas-Sea, Khazar, Auezov subsoil area development project in the Kazakhstan sector of the Caspian Sea. They define the rights and…
Oil major BP, as the operator of the consortium behind the Azeri Shah Deniz field, has started drilling a new exploration well (SDX-8) in the contract area, in the Caspian Sea, offshore Azerbaijan.The company is using the Heydar Aliyev semi-submersible drilling rig…
BP produced 20.4 million tonnes of oil in Azerbaijan in 2022, the energy ministry said on Friday.Gas production from the Azeri-Chirag-Guneshli (ACG) field totaled 13.4 billion cubic meters (bcm), the energy ministry said, while 25.2 bcm was produced from the Shah Deniz gas project…
UAE-based AD Ports Group and KMTF (Kazmortransflot), an offshore logistics and services subsidiary of the Kazakh National Oil Company (KazMunayGas), have signed a deal to launch a joint venture that will provide offshore and shipping services for energy companies in the Caspian Sea…
Oil major BP said Tuesday that the jacket of the Azeri Central East (ACE) platform built at the Heydar Aliyev Baku Deepwater Jackets Factory (BDJF) was ready for load-out to sail away to its permanent location in the ACG contract area in the Caspian Sea…
Kazakhstan's Energy Minister Bolat Akchulakov told Reuters that the giant offshore Kashagan oilfield will resume production of 400,000 barrels per day (bpd) by the end of October after maintenance.Speaking on the sidelines of the Russian Energy Week in Moscow…
Kazakhstan's vast Kashagan oilfield, where production sharply declined following an emergency gas release last month, will resume output at usual levels 'in October at best', Kazakh Energy Minister Bulat Akchulakov told Reuters on Friday.Production at Kashagan…
Output at Kazakhstan's Kashagan giant oilfield will remain below normal at least until the end of September due to maintenance following a gas leak early in August, two sources familiar with the situation told Reuters on Wednesday.Daily oil production on Kashagan stayed close to 100…
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