Azerbaijan News

 

Greece Teams up with Egypt on Gas Supply, Infrastructure

Nov 25, 2021

Greece and Egypt agreed on Thursday to expand their cooperation in the supply of liquefied natural gas (LNG) and examine the possibility of constructing a subsea gas pipeline between the two countries, the Greek energy ministry said.Greece, which mainly imports gas from Algeria…

Wood Wins Contract for Turkey’s Largest Gas Reserve

Nov 25, 2021

Consulting and engineering firm Wood said it has been appointed by Turkish Petroleum (TP) as the integrated project management partner for the Sakarya Gas Field Development Project, located 150km off the coast of Turkey in the Black Sea.As Turkey’s largest gas reserve…

Shah Deniz Field: Azerbaijan Signs New Gas Supply Deal with Turkey

Oct 14, 2021

Azerbaijan has signed a new deal with Turkey to supply gas from its giant offshore Shah Deniz I field, Azerbaijan's energy minister Parviz Shahbazov told Reuters on Thursday.Azerbaijan halted gas supplies from Shah Deniz I to Turkey in April after the contract expired…

Azerbaijan: Lukoil to Buy Petronas' Shah Deniz Field Stake for $2.25B

Oct 07, 2021

Russian oil and gas company Lukoil has agreed to acquire a 15.5% stake in the Shah Deniz offshore gas field in the Azerbaijan sector of the Caspian Sea from Malaysia's Petronas.Lukoil said the value of the transaction was $2.25 billion, with the completion is subject to certain conditions precedent…

Azerbaijan: Lukoil Buys Into BP's Caspian Sea Project

Sep 29, 2021

Russian oil firm Lukoil has agreed to acquire a stake in a BP-operated offshore project in the Azerbaijan part of the Caspian Sea.Lukoil will take a 25% stake from BP, which will retain a 25% stake and remain the operator of the project called…

BP Suspends Offshore Platform in Azerbaijan for 25-day Maintenance

Sep 23, 2021

British oil company BP will suspend its Chirag platform in Azerbaijan on Sept. 23 for planned maintenance that will last for 25 days, BP Azerbaijan said on Thursday.The oil major uses the Chirag platform to produce oil at the Azeri-Chirag-Guneshli (ACG) fields in the Caspian Sea…

SOCAR Wants to Power Offshore Oil Rigs with Floating Wind. Signs Pact with Technip Energies

Jul 15, 2021

Azerbaijan's national oil company SOCAR has signed a cooperation agreement with energy services firm Technip Energies for a floating wind pilot project.SOCAR said the two firms would study sustainability measures in the offshore upstream activities…

Azerbaijan: Shah Deniz Gas Field Nears Plateau as Deep-water Flank Brought Online

Jul 06, 2021

Azeri Shah Deniz giant offshore field is set to near its plateau gas production goal by starting up the East South deep-water flank, project leader BP said on Tuesday.The giant Shah Deniz gas project in the Caspian sea, split into two phases…

Report: SOCAR Says Platforms Safe after Fire Offshore

Jul 05, 2021

Azerbaijan’s state energy company, SOCAR, said on Sunday its offshore gas platforms in the Caspian Sea were safe after media reports of a large fire in the area.Videos and photos published online showed smoke rising above the sea off the coast…

Can the Caspian Still Compete for Upstream Capital?

Jun 28, 2021

The Caspian region – home to 6 million barrels of oil equivalent per day of liquids and gas production – has been near the forefront of the global energy sector since the 19th century. It is core to most of the majors and has a resource base that should be primed for longevity…

Petrofac, SOCAR JV Net $25M Deal to Support BP's Azeri Central East Project

Jun 24, 2021

Oilfield services firm Petrofac, in a joint venture with Azerbaijan's SOCAR, has won a contract to support BP's Azeri Central East (ACE) project, in the Caspian Sea, offshore Azerbaijan.Under the contract valued at about  $25 million, the Petrofac…

Collab in Sight? Turkey Shares Data on Giant Black Sea Gas Find with ExxonMobil, Chevron

Jun 11, 2021

Turkey has shared data on its Black Sea discovery with U.S. energy majors Chevron and Exxon Mobil ahead of possible cooperation in extracting the gas, a Turkish official with knowledge of the matter told Reuters.Ankara has so far insisted it…

Turkey Finds More Natural Gas in the Black Sea

Jun 04, 2021

Turkey has discovered 135 billion cubic meters of additional natural gas in the southern Black Sea, President Tayyip Erdogan said on Friday, raising the total discovery in the region to 540 billion cubic meters.Last year, Turkey's drillship…

TAP Taps NDT for Pipeline Survey

Mar 10, 2021

NDT Global has won a contract to complete a baseline inspection survey for Trans Adriatic Pipeline, a company operating the namesake European pipeline carrying gas from the Caspian Sea to the EU.TAP is a European leg of a pipeline transporting gas from the Azeri section of the Caspian Sea…

In a First, BP Offers Employees Shares in Rallying Cry for Low-carbon Shift

Feb 17, 2021

Oil major BP is launching its first share award scheme to rally its more than 60,000 employees around CEO Bernard Looney’s plan to shift to renewable energy following a bruising year of mass layoffs, bonus suspensions, and spending cuts.The distribution of the shares…

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