Europe / Caspian / CIS
Country summary: Azerbaijan
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Azerbaijan - recent news
|25 Jun 20
||Azerbaijan: Zenith Energy completes handover of Contract Rehabilitation Area to SOCAR
Zenith Energy has announced that the handover process of the Contract Rehabilitation Area ('CRA') to SOCAR in the Republic of Azerbaijan has now been successfully concluded and the Company has ceased all oil production operations in Azerbaijan.
|21 May 20
||Azerbaijan: ExxonMobil relaunches sale of stake in giant Azeri oilfield - Reuters
ExxonMobil is reported to have relaunched the sale of its stake in Azerbaijan’s largest oilfield. The Company first tried to sell its 6.8% stake in the Azeri-Chirag-Gunashli (ACG) field in the Caspian Sea in 2018, as Chevron launched the sale of its own 9.57% stake in the field.
|16 Apr 20
||Azerbaijan: Chevron sells Azerbaijan assets to MOL Hungarian Oil and Gas
Chevron has announced that its affiliate companies have sold their non-operating interests in the Azeri-Chirag-Deepwater Gunashli (ACG) oil fields (including interests in the Western Export Route Pipeline) and the Baku-Tbilisi-Ceyhan (BTC) oil pipeline located in Azerbaijan, to MOL Hungarian Oil and Gas for a consideration of $1.57 billion.
|31 Mar 20
||Azerbaijan: SOCAR and Equinor confirm participation in the development of the Karabagh field
SOCAR and Equinor have confirmed participation in the development of the Karabagh field, located 120 kms offshore, east of Baku, in the Azerbaijan sector of the Caspian Sea. On March 19, 2020, the parties confirmed the discovery of the Karabagh field, a new field with 60 million tons of oil reserves, as a result of successful appraisal drilling.
|05 Mar 20
||Azerbaijan: AIOC awards services contract in the Caspian Sea to Worley
Azerbaijan International Operating Co (AIOC) has awarded Worley a contract for engineering, procurement and construction services as part of a gas lift project. AIOC is operated by BP. Under the contract, Worley will provide engineering, procurement and construction services to support production operations on the Chirag platform in the Caspian Sea.
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