Azerbaijan News

 

Joint Venture Partners Ink Commercial Deals to Develop Gas Reserves at Azerbaijan’s ACG Field

Sep 23, 2024

The international joint venture (JV) partners, led by BP as the operator, have signed commercial agreements for the development of gas reserves at the giant Azeri-Chirag-Gunashli (ACG) gas field offshore Azerbaijan.After the State Oil Company of the Republic of Azerbaijan (SOCAR) and BP…

TotalEnergies Signs 10-Year LNG Supply Deal with Turkey’s Botas

Sep 18, 2024

Turkish state energy company Botas has signed a 10-year agreement to import liquefied natural gas (LNG) from French oil major TotalEnergies beginning in 2027, Turkish Energy Minister Alparslan Bayraktar said on Wednesday.The deal, which was…

Apollo Takes Share of BP’s Trans Adriatic Pipeline in $1B Deal

Sep 16, 2024

BP and Apollo have entered into an agreement for Apollo-managed funds to purchase a non-controlling stake in BP Pipelines TAP Limited, BP’s subsidiary that holds a 20% share in Trans Adriatic Pipeline (TAP), in a transaction valued at approximately $1 billion…

Equinor Exits Suriname

Aug 07, 2024

Equinor and ExxonMobil Corp said on Wednesday they have transferred their stakes in a deepwater oil and gas exploration block off Suriname to Hess Corp, with the Norwegian oil producer exiting the South American country.The exit aligns with…

India’s ONGC Buys Stake in Caspian Sea Oil Assets from Equinor for $60M

Jul 19, 2024

India’s Oil and Natural Gas Corporation Limited (ONGC) Videsh has signed a definitive $60 million sale and purchase agreement (SPA) with Equinor to increase its stake in the offshore Azeri Chirag Gunashli (ACG) oil field and associated pipeline in Azerbaijan…

Saipem Hooks BP’s Job in Caspain Sea Off Azerbaijan

Jul 12, 2024

Italian offshore energy services firm Saipem has signed a framework agreement with BP for the delivery subsea services at the Shah Deniz and Azeri-Chirag-Gunashli fields, offshore Azerbaijan.The contract with BP was signed by Saipem, in consortium with BOS Shelf and BOS Shelf International FZCO…

BP Shares Dip After Warning Weak Refining Will Hit Q2 Profits

Jul 09, 2024

Weak refining margins and lower oil trading results will dent BP's second-quarter profit by up to $700 million, the company said on Tuesday, sending its shares down by over 3%.The warning, which led several analysts to lower their earnings estimates…

BP Suspends Production at Azerbaijani Platform for Maintenance Works

Apr 29, 2024

BP, as the operator of the Azeri-Chirag-Deepwater Gunashli (ACG) field development in the Caspian Sea, has kicked off planned maintenance (turnaround - TAR) works on the Deepwater Gunashli platform.In accordance with the plan, production from…

BP Starts Oil Production at Major New Platform Offshore Azerbaijan

Apr 17, 2024

BP, as the operator of the Azeri-Chirag-Gunashli (ACG) project, has started oil production from the new Azeri Central East (ACE) platform as part of the ACG field development in the Azerbaijan sector of the Caspian Sea.The ACE platform is the…

BP's Carbon Emissions Rise for the First Time Since 2019

Mar 08, 2024

BP said on Friday its overall carbon emissions climbed in 2023 for the first time since 2019 as the company started up new oil and gas projects and increased its production levels.BP's so-called Scope 3 emissions, caused by the burning of the oil and gas produced by the company…

BP Starts Production at East North Flank of Giant Shah Deniz Gas Field

Feb 27, 2024

BP has started production from the East North flank of the Shah Deniz field in Azerbaijan, which is one of the largest gas-condensate fields in the world and the largest gas discovery ever made by BP.The East North flank, part of Shah Deniz 2 development…

BP Launches Its ‘Largest-Ever’ Seismic Program at Azerbaijan Oil Field

Jan 24, 2024

BP has started a new four-dimensional (4D) high-definition ocean bottom node seismic program on its Azeri-Chirag-Deepwater Gunashli (ACG) oil field in the Caspian Sea, offshore Azerbaijan.This is the largest-ever seismic acquisition commitment made by BP globally by all its aspects – area size…

West Azeri Platform Marks 1 Billion Barrels Milestone

Dec 29, 2023

West Azeri platform, located in the Caspian Sea at Azeri-Chirag-Gunashli (ACG) oil field, has achieved 1 billion barrels total production.The announcement was made by BP, which is the operator of ACG oil field, on behalf of its partners SOCAR…

Equinor Divests All Remaining Oil Assets in Azerbaijan

Dec 22, 2023

Equinor and SOCAR (State Oil Company of Azerbaijan Republic) have signed an agreement by which the Norwegian energy industry giant will divest all its remaining assets in Azerbaijan to SOCAR.The assets comprise a 7.27% non-operated interest…

Serbia Signs Gas Supply Deal with Azerbaijan

Nov 15, 2023

Serbia signed a deal with Azerbaijan to purchase 400 million cubic meters of natural gas per year from 2024, Azerbaijan's energy ministry said on Tuesday.Serbia, which is almost fully dependent on Russian gas supplies, has long planned to purchase…

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