West Azeri platform, located in the Caspian Sea at Azeri-Chirag-Gunashli (ACG) oil field, has achieved 1 billion barrels total production.The announcement was made by BP, which is the operator of ACG oil field, on behalf of its partners SOCAR…
Kazakhstan is pressing ahead with $16.5 billion in claims against international oil majors over disputed project costs and has no plans for a possible out-of-court settlement, Energy Minister Almasadam Satkaliyev said on Tuesday.The legal wrangling…
Kazakhstan cut its oil production (excluding gas condensate) by 3% on a daily basis in May compared to April to 1.55 million barrels per day (bpd), Reuters calculations based on data from two sources familiar with preliminary data showed on Monday…
Kazakhstan's energy company KazMunayGas said on Saturday that it expects the Bolashak onshore processing complex at the giant Kashagan offshore oilfield to resume operations in the coming days after repair works at a complex unit. 'At the moment…
Dubai-based Dragon Oil signed a $1 billion deal to renew its production partnership in Turkmenistan with state-owned Turkmen Oil for 10 years after the current contract expires in May 2025, the United Arab Emirates state news agency WAM said on Monday…
Malaysian FPSO specialist and offshore support vessel owner Bumi Armada has decided to sell its icebreaking vessels operating in the Caspian Sea for Lukoil, in line with its plan to exit the offshore marine service business.Bumi Armada said…
Russian oil company Lukoil has agreed to acquire a stake in an offshore block in the Kazakh sector of the Black Sea.Lukoil's president Vagit Alekperov and Chairman of Kazakhstan's 'KazMunayGas' Alik Aidarbayev last Friday signed a sale and purchase deal for a 49…
Kazakhstan's environmental authorities will inspect an oil and gas processing plant at the country's biggest oilfield, Kashagan, after gas flaring at the plant caused plumes of black smoke on Monday, the ecology ministry said.NCOC, the consortium of global energy majors developing Kashagan…
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