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…
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…
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…
Esgian provides an update on semisub activities in Norway and Australia in its Week 23 Rig Analytics Market Roundup.Report SummaryContractsTransocean has announced contract fixtures for three harsh environment (HE) semisubmersibles. Together…
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, 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 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 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…
This week, Esgian reports in its Week 8 Rig Analytics Market Roundup that offshore drilling contractors have expressed their confidence in the strength and longevity of the current upcycle.Report outline:ContractsValaris has confirmed that the contract for the 8…
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, 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 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 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…
Israel's Energy Ministry said on Sunday it had awarded 12 licenses to six companies to explore for natural gas off the country's Mediterranean coast, aiming to create more competition and diversify suppliers.The license awards, which came as the Israel-Hamas conflict entered its fourth week…
Turan Drilling & Engineering has secured a contract extension with a value of $300 million, for the provision of offshore drilling operations and maintenance services in Azerbaijan.The two-year extension, effective from April 2024, will see the company…
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