Azerbaijani Deputy Prime Minister Shahin Mustafayev met with Iranian Oil Minister Mohsen Paknejad in Tehran, APA’s Tehran bureau reports. Shahin Mustafayev, who is visiting Tehran, and the delegation accompanying him met with Mohsen Paknejad today as part of the visit and discussed prospects for the development of bilateral cooperation. During the meeting, the existing opportunities […]
TotalEnergies and partners SOCAR and XRG have taken final investment decision (FID) on the full-field development of the Absheron gas and condensate field offshore Azerbaijan, targeting startup in 2029. The development will increase overall Absheron production capacity to 6 billion cubic meters per annum (Bcma) of gas and 47,000 bpd of condensate. Gas production will […]
In January-July of this year, AZN 3,708.6 million was invested in Azerbaijan’s oil and gas sector, APA-Economics reports, citing the State Statistical Committee.
Vulcan Completion Products has expanded its presence in the Caspian region by opening a new office and warehouse in Baku, Azerbaijan, following the extension of a contract with a major operator in the country.
INPEX Corporation has signed a share purchase agreement to acquire the remaining 49% stake in INPEX South West Caspian Sea Petroleum Co., Ltd. (ISWCS), making it a wholly owned subsidiary. The shares are being acquired from Japan’s Ministry of Economy, Trade and Industry (METI) through an open bid process. Financial terms were not disclosed. Through ISWCS, […]
The State Oil Company of the Azerbaijani Republic (SOCAR) and Gran Tierra Energy Inc. have signed a production sharing agreement (PSA) covering exploration and development of a prospective onshore block in Azerbaijan’s Guba-Caspian region.
bp has renewed a long-term offshore operations and maintenance contract in Azerbaijan’s Caspian Sea covering eight production platforms across its operated Azeri Chirag Gunashli (ACG) oil field and Shah Deniz gas development. The renewed agreement with Turan Drilling & Engineering Company LLC—a joint venture between SOCAR AQS and Helmerich & Payne—has an initial term of five years, with three […]
Azerbaijani President Ilham Aliyev met Russell Hardy, Chief Executive Officer of Vitol, on January 21 on the sidelines of the World Economic Forum in Davos, with discussions focusing on energy cooperation and supplies to Europe.
MOL Group and SOCAR have signed a comprehensive onshore exploration, development and production sharing agreement covering the Shamakhi-Gobustan region of Azerbaijan, strengthening their long-standing upstream partnership in the Caspian region. Under the agreement, MOL Group will serve as operator with a 65% working interest, while SOCAR will hold the remaining 35%. The fully termed deal follows a preliminary […]
bp, together with its partners, has entered into a series of agreements that will build and expand on its major oil and gas interests in Azerbaijan, paving the way for growth and additional production while deepening its partnership with the country and state oil company, SOCAR.