Azerbaijan

This paper aims to showcase examples of how integrated analysis of surveillance data in the Azeri-Chirag-Gunashli field has improved reservoir understanding and informed reservoir-management decisions.

Gran Tierra will refocus its investment strategy to strengthen its portfolio in Canada and Azerbaijan while Maurel & Prom, majority owned by Pertamina’s international upstream arm, grows its South American footprint in Colombia and Ecuador.

Saipem has launched offshore operations in Suriname, while Repsol is expanding exploration efforts in Venezuela and partnering with MOL Group and TPAO in the Mediterranean. Petronas, Shell, and Murphy Oil reported new discoveries in Suriname, Namibia, and Côte d’Ivoire, respectively, as Occidental acquired a stake offshore Trinidad and Tobago and BP began gas producti…

BP said it expects to keep the Azeri-Chirag-Gunashli (ACG) project in production into the 2040s by tapping into separate nonassociated gas reservoirs.

Updates about global exploration and production activities and developments.

The US and UK sanctioned Russian independent Lukoil International and state-owned Rosneft in a bid to pressure Russia over Ukraine.

BP’s new electric gas compression platform at Shah Deniz, Azerbaijan’s largest natural gas producer, is expected to sustain exports to Europe even as the field enters decline.

The $2.9 billion Shah Deniz Compression project, expected online in 2029, will enable additional production of around 50 Bcm of gas and 25 million bbl of condensate.

SOCAR’s expansion of its exploration footprint in Israeli waters could position Azerbaijan as a future player in EastMed gas.

Updates about global exploration and production activities and developments.