Azerbaijan’s ACG field is on the cusp of a significant transformation following the signing of a Non-Associated Gas (NAG) agreement. A consortium of energy giants, including ONGC Videsh, bp, the State Oil Company of Azerbaijan (SOCAR), and others, has added a crucial new addendum to the existing Production Sharing Agreement (PSA) for the Azeri-Chirag-Deepwater Gunashli […]
TotalEnergies and its partner, the State Oil Company of the Republic of Azerbaijan (SOCAR), have announced the commencement of production from the first phase of development of the Absheron gas and condensate field. The field, situated about 100 km southeast of Baku in the Caspian Sea, promises to bolster the gas supply in response to […]
PJSC Lukoil has wrapped up the previously announced $1.45 billion acquisition of an additional 9.99% stake in the Shah-Deniz gas project, offshore Azerbaijan from Petronas. The Russian oil and gas company has now increased its stake in the Shah-Deniz field in the Caspian Sea from 10% to 19.99%. The deal was announced last October under […]
UK-based oilfield services company Expro has secured a four-year contract extension from BP for the $28 billion Shah Deniz Stage 2 project offshore Azerbaijan as per the latest oil and gas industry news. Shah Deniz Stage 2 project Contract Extension Under the extended contract, Expro will continue to provide subsea landing string equipment and services to […]