Azerbaijan News


BP Invests $6 Bln in Offshore Azerbaijan Project

Apr 22, 2019

The British multinational oil and gas company BP and its partners will lead a $6 billion development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oil-field complex offshore Azerbaijan.The supermajor said that the Azeri Central East (ACE)…

Turan Tallies $500 Mln Contract from BP

Apr 16, 2019

Turan Drilling & Engineering announced Tuesday it has been awarded a $500 million contract from BP for work offshore Azerbaijan.The contract is for the operations and maintenance of seven platform drilling rigs operated by BP in the Caspian Sea…

Topaz Gets BP Extension for 12 Offshore Ships

Mar 22, 2019

The offshore energy logistics company Topaz Energy and Marine announced that it has signed contract extensions for 12 of its vessels currently supporting the offshore operations of BP Exploration (Caspian Sea) in Azerbaijan.According to a press…

Oil Edges Above $67

Mar 18, 2019

Oil edged further above $67 a barrel on Monday, supported by the prospect of prolonged OPEC-led oil supply curbs though concern that an economic downturn may dent fuel consumption curbed gains.OPEC and non-OPEC ministers who met in Azerbaijan…

Tendeka Appoints Area Manager in Russia

Feb 06, 2019

Independent global completions service company Tendeka has appointed Nizami Musayev as a new Area Manager in Russia as the company aims to grow its presence in the region.He will be responsible for introducing Tendeka’s existing portfolio and new technology such as Cascade3…

OPEC to Release Country Quotas for Oil Output Cut

Dec 20, 2018

Oil producer group OPEC plans to release a table detailing output cut quotas for its members and allies such as Russia in an effort to shore up the price of crude, OPEC's secretary-general said in a letter seen by Reuters on Thursday.Mohammad Barkindo said to reach the proposed cut of 1…

Chevron to Sell Stakes in Azeri Field, Pipeline

Dec 04, 2018

U.S. oil and gas company Chevron has decided to launch the sale of its stake in Azerbaijan's largest oil field as well as the Baku-Tbilisi-Ceyhan (BTC) pipeline, it said in a statement on Tuesday.'Chevron regularly reviews its global portfolio…

BP Producing 588,000 BPD in Azerbaijan

Nov 21, 2018

Oil output at the BP-led Azeri-Chirag-Guneshli oilfields in Azerbaijan totalled 588,000 barrels per day in the January to September period, BP-Azerbaijan said on Wednesday.(Reporting by Nailia Bagirova; Writing by Margarita Antidze; Editing by Jan Harvey)

Saipem Bags New Offshore E&C Deals Worth $400 Mln

Oct 16, 2018

Italian oil firm Saipem has signed new offshore E&C contracts in Azerbaijan, the North Sea and the Republic of Congo. The overall value of the contracts is approximately $400 million.In Azerbaijan, Total has awarded a SURF contract to the consortium between Saipem’s subsidiary…

KBR, SOCAR JV wins Azeri work

Jan 16, 2018

Azerbaijan’s SOCAR and US engineering firm KBR’s joint venture will provide front-end engineering design services (FEED) for a new production, drilling and quarters platform, Azeri Central East (ACE), for the Azeri-Chirag-Gunashli (ACG) field in the Caspian Sea…

Greenfields, SOCAR to jointly drill at Bahar

Dec 05, 2017

Greenfields Petroleum subsidiary Bahar Energy Operating Company (BEOC) and SOCAR Complex Drilling Works Trust (SDT), a subsidiary of the State Oil Company of the Republic of Azerbaijan (SOCAR), have signed a memorandum of understanding to…

Topaz inks Ashberon gig

Sep 25, 2017

Topaz Energy and Marine has inked a contract with Total to support operations offshore Azerbaijan. Total is operating, on behalf of Joined Operating Company for Absheron Project, a joint venture between SOCAR (50%) and Total (50%).  First discovered in 2011…

OE17: Azerbaijani opportunities

Sep 14, 2017

The UK Department of International Trade (DIT) is urging UK companies to invest in Azerbaijan’s oil and gas sector, citing the opportunities available in the “Motherland of Oil.' “People who think they know about Baku and Azerbaijan should take another look…

BP's "Contract of the Century" extended to 2049

Sep 14, 2017

In 1994, when BP and SOCAR signed a deal for the development of the Azeri, Chirag and Gunashli oil fields in the deepwaters of the Caspian Sea, it was dubbed the 'Contract of the Century.' Now, the 'Contract of the New Century' has been signed…

OE17: Opportunities in Azerbaijan

Sep 07, 2017

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