MVM Group, a Hungarian energy company, has entered into an agreement to purchase a 5% stake in the Shah Deniz gas-condensate field located offshore Azerbaijan from Southern Gas Corridor (SGC), a state-owned entity of Azerbaijan. This deal, which was formalized during the Baku Energy Week, marks a significant step in MVM Group’s strategy for diversification […]
KBR said that SOCAR-KBR, the company’s joint venture (JV) with SOCAR, has won a contract pertaining to the Shah Deniz compression project, offshore Azerbaijan. The optimization stage engineering services contract was won by the joint venture from BP Exploration (Shah Deniz). Located in the Caspian Sea, the Shah Deniz compression project is in the early […]
Lukoil signed a deal worth $2.25 billion with Malaysian oil and gas company Petronas for acquiring an additional stake of 15.5% in the Shah Deniz gas project. The Russian oil and gas company will be able to increase its stake in the offshore gas project from 10% to 25.5% through the deal. Energy giant BP […]
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 […]