Without much international fanfare, the world’s largest offshore oil field and the largest discovered in the last 40 years, Kazakhstan’s Kashagan Field, is on the verge of finally moving beyond Continue Reading
A deal by BP to extend oil production-sharing in Azerbaijan by 25 years is profitable at current oil prices even after paying a signing bonus and cutting foreign companies’ stake Continue Reading
A contract for the largest oil complex offshore Azerbaijan could lead to billions of dollars in investments and billions more in oil barrels, analysis finds. British energy company BP led Continue Reading
BP’s stake in Azerbaijan’s vast oilfields is expected to shrink under a new production-sharing agreement with state energy company SOCAR, two industry sources familiar with the talks told Reuters. Azerbaijan Continue Reading
Energy Minister Kanat Bozumbayev said at an industry conference in Istanbul over the weekend that Kazakhstan’s withdrawal from its pledge to the cap will take place gradually, Russian news agency Continue Reading
The head of the oil and gas division of GE says Kazakhstan has a significant role to play in global energy industries. Photo courtesy of the North Caspian Operating Company Continue Reading
Crude oil production from Kazakhstan could increase by the end of the year once operations at its Kashagan oil field are optimized. Photo courtesy of North Caspian Operating Company. June Continue Reading
Kazakhstan could add at least another quarter million barrels of oil per day to the market through new field development, a country assessment found. The U.S. Energy Information Administration updated Continue Reading
U.S. engineering services company KBR said it secured a contract for conceptual studies for oil field basins located in the Kazakh waters of the Caspian Sea. The North Caspian Operating Continue Reading
Production from part of Kashagan oil field in the Kazakh waters of the Caspian Sea should reach capacity by the end of the year, an operating company said. According to Continue Reading
More than 7 million barrels of oil produced and exported from the Kashagan oil field off the coast of Kazakhstan since late 2016. Photo courtesy of the North Caspian Operating Continue Reading
An explosion has occurred at a gas pipeline near Azerbaijan’s capital Baku early on Monday, the country’s Emergencies Ministry said, the second such incident in a week. An explosion hit Continue Reading
When the first snow fell in late November in Tajikistan, it caught many by surprise, including the country’s power providers. The last two years have accustomed Tajiks to unusually short Continue Reading
Azerbaijan can’t seem to turn the page on what’s been a year of currency jitters following its 50 percent devaluation in 2015. Dollars are again in short supply in Azerbaijan’s Continue Reading
Kazakhstan’s authorities are looking at whether the Karachaganak oil and gas venture, which includes Royal Dutch Shell Plc and Eni SpA, has unpaid taxes. “The tax authorities have tax issues Continue Reading
OPEC may ask oil producers outside the cartel to make big cuts in output, Azerbaijan said on Thursday, highlighting the challenges in striking a deal as the two sides enter Continue Reading
Commercial production from the giant Kashagan oil field in the Caspian waters of Kazakhstan has begun, a spokesperson for a regional operating company said. Production at Kashagan, which holds an Continue Reading
Kazakhstan’s Kashagan oil field produced about 201,000 tons of oil in October, its first full month of operation, data from the Energy Ministry’s analytical center showed. MOSCOW, Nov 14 (Reuters) Continue Reading
The first batch of crude oil from the giant Kashagan oil field off the coast of Kazakhstan has been processed and is destined for exports, an operator said. “North Caspian Continue Reading
Giant Kazakh deposit pumps crude for export to world markets Offshore, onshore commissioning work continues at Kashagan Kashagan, a vast oil field in the Caspian Sea, sent its first crude Continue Reading
Commercial-scale production at Kazakhstan’s giant Kashagan field in the Caspian Sea has started at a daily rate of 90,000 barrels, the country’s Energy Minister Qanat Bozumbaev said . The field Continue Reading
One of the world’s largest oil projects could soon come online, bringing a rush of new supply that could delay the oil market balance. The Kashagan oilfield is years behind Continue Reading
Kashagan won’t hit Eni’s 2017 output goal until 2020s: WoodMac OPEC heeds Eni’s forecast, raising its non-OPEC supply outlook Kazakhstan’s giant Kashagan oil field has taken 16 years and more Continue Reading
Two major Caspian Sea oil fields scheduled to come on stream this year will together produce at least 200,000 barrels of crude per day (bpd) by the end of 2016, Continue Reading
A BP subsidiary working in the Caspian Sea announced it reached a landmark for oil pulled from Azeri waters with its 3 billionth barrel. BP’s regional office for Azerbaijan, Georgia Continue Reading
Opium Farming Afghanistan may have mouth-watering oil riches, but opium still rules this economy amid a lack of any real investment in getting oil and gas out of the ground. Continue Reading
Projects meant to exploit the strategic position of the Caspian Sea and its oil and natural gas are national priorities, Azerbaijan, Iran and Russia said. The Iranian and Russian presidents Continue Reading
Russia and Turkey signaled that they would resuscitate the development of a natural-gas pipeline between them, potentially undermining European efforts to reduce reliance on Russian energy with fuel piped in Continue Reading
The investment in the expansion of the field known as Tengiz—one of the world’s largest—comes on top of around $37 billion already spent by Chevron, the operator, and its partners: Continue Reading
The investment in the expansion of the field known as Tengiz—one of the world’s largest—comes on top of around $37 billion already spent by Chevron, the operator, and its partners: Continue Reading
Chevron Corp. has decided to go ahead with the $36.8 billion expansion of the Tengiz oil project in Kazakhstan. The company and its partners will spend $27.1 billion on facilities, Continue Reading
U.S. oil major Exxon Mobil ( XOM.N ) and Britain’s BP ( BP.L ) are at loggerheads over a giant oil production deal with Azerbaijan, blocking renewal of what was Continue Reading
Kazakhstan expansion would add a Libya of new supply Tengiz is only major new project on Chevron’s 2016 agenda Chevron Corp. may shortly give a green light to the most Continue Reading
Though some geopolitical conflicts may impede the progress, Azerbaijan is positioned to become one of the region’s key players in natural gas, analysis finds. A review from the U.S. Energy Continue Reading
Tengiz Oil Field I wrote Wednesday about Australia’s Oil Search making a major $2.2 billion investment in Papua New Guinea natural gas. Noting this as a sign the right projects Continue Reading
A Chevron Corp.-led consortium is set to invest up to $37 billion as it increases output at a giant oil field in Kazakhstan, the country’s energy minister Kanat Bozumbayev said Continue Reading
A BP subsidiary trying to pull gas from offshore Azerbaijan said it doled out a $1.5 billion contract to help get gas flowing within the next two years. BP, working Continue Reading
In January 2016, the Russian media reported that Russia’s gas giant, Gazprom, had discontinued all purchases of natural gas from Turkmenistan and was not planning to resume imports any time Continue Reading
Bringing natural gas through a pipeline from Turkmenistan will help address chronic energy shortages in Pakistan, the Asian Development Bank said. ADB officials were on hand for the signing of Continue Reading
Armenians and Azeris reported dozens of soldiers and civilians killed as the worst fighting in two decades threatened to spread beyond the disputed Nagorno-Karabakh territory. Twenty Armenian servicemen have died, Continue Reading
Georgian Energy Minister Kakha Kaladze struck a deal with Rovnag Abdullayev, the president of the State Oil Company of Azerbaijan Republic (SOCAR), Civil Georgia reported March 4. Under the terms Continue Reading
Ilham Aliyev, Azerbaijan’s president Officials from the International Monetary Fund and the World Bank are heading to Azerbaijan to discuss a possible $4bn emergency loan package in what risks becoming Continue Reading
Slowly but surely, a four-lane highway is beginning to take shape on the sparsely populated Central Asian steppe. Soviet-era cars, trucks and aging long-distance buses weave past modern yellow bulldozers, Continue Reading
Kazakhstan’s $55 billion sovereign-wealth fund helped pull the country through the global financial crisis and offered funding for the country’s bid to host the 2022 Winter Olympics. But the collapse Continue Reading
The U.S. is helping Iran with an arrangement to send part of its nuclear fuel stockpile to the Central Asian nation of Kazakhstan, a step that would speed the lifting Continue Reading
Kazakhstan stepped up measures to limit speculation on the tenge, the world’s worst currency, as the government braced for further declines in the price of oil. “Currently, we are working Continue Reading
A stream approaching Jowzjan Province in Afghanistan. Photo by U.S. Embassy Kabul, Afghanistan KABUL, Afghanistan, Nov. 20 (UPI) — The Afghan government said it’s closer to finalizing a deal with a consortium of energy companies that could pave the way for gas exploration and production. A consortium of Turkish and Afghan energy companies reached a preliminary agreement with the Afghan Ministry of Mines and Petroleum to review the potential for natural gas work in the northwestern provinces of Faryab and Jawzjan. "We have reached a favorable and equitable agreement that will create jobs and revenue for our country, while decreasing our need to import energy," Afghan Minister of Mines and Petroleum Daud. S. Saba said in a statement. According to the Afghan government, most of the country’s gas exploration and infrastructure is in Jawzjan province. As of February 2011, the last full year for which the government has data, […]
Parties to a gas pipeline planned east from Turkmenistan sign long-awaited shareholder agreement to steer project forward. File photo by Hamid Forotan/ISNA MANILA, Oct. 26 (UPI) — Roughly 15 years in the making, a multilateral agreement on the planned Turkmenistan- Afghanistan -Pakistan-India natural gas pipeline was signed during meetings in Ashgabat, the capital of Turkmenistan. Members of a pipeline consortium planning the gas pipeline east from Turkmenistan announced their preliminary shareholder arrangements at a steering committee. Sean O’Sullivan , director general for the region at the Asian Development Bank, which supports the project, said the momentum was a welcome milestone for the project . "ADB looks forward to the stakeholders continuing to build on the strong momentum in the implementation of the TAPI pipeline project," he said in a statement. Project leaders include Turkmengaz, the consortium leader and state-run gas company of Turkmenistan, and Indian energy company GAIL. Turkmengaz […]
No updates in plans for offshore Kashagan oil field, the deputy energy minister in Kazakhstan says. Photo courtesy North Caspian Operating Co. ASTANA, Kazakhstan, Sept. 29 (UPI) — There are no changes in the operational plans for the giant Kashagan oil field off the coast of Kazakhstan, the country’s deputy energy minister said. Kazakh Deputy Energy Minister Uzakbai Karablin told an audience at an investment conference in the capital Astana commercial production from the field was expected about six weeks after operations are slated to begin in late 2016. "All the work was planned for this period, and there are no changes for now," he was quoted by the regional Trend news agency as saying. Kashagan is among the largest oil fields in the world, with an estimated 16 billion barrels of oil reserves. Production was halted in October 2013, less than a month after it started, when a […]
Kazakh government expects oil boom once troubled Kashagan oil field resumes operations. Photo courtesy North Caspian Operating Co. MOSCOW, Aug. 21 (UPI) — Russia’s Lukoil said it sold its stake in a Kazakh oil producer to a rival in Beijing just as China’s economy falters and Kazakhstan’s gets a $1 billion loan. The Russian company said it sold its 50 percent in oil producer Caspian Investments Resources to Sinopec, a rival company based in China, for $1 billion, giving the Chinese oil company full control . The Caspian producer plays a role in the development of five separate fields in Kazakhstan. Lukoil said cumulative production since 2006 has amounted to 95 million barrels of crude oil and around 1 billion cubic feet of natural gas. The investment from Sinopec comes amid a slowdown in the Chinese economy. To stave off declines, the Chinese government devalued the national currency. This […]
