A Barrel Fulll Archive

February 6, 2020  Mitsui Oil Exploration Co.,Ltd. ("MOECO", Head Office: Tokyo, President and CEO: Hiroyuki Tsurugi) is pleased to announce that Mitsui E&P Italia A S.r.l ("MEPIT"), which is our affiliated company in Italy, jointly established with Mitsui & Co.,Ltd. has been successfully started first oil production at onshore oil field in Italy, Tempa Rossa in December 2019. Tempa Rossa is currently producing 25,000 barrels as ramp up phase. MEPIT has a 25% stake in the onshore field which is expected to produce 50,000 barrels of oil a day at its peak for Italian and overseas markets. The operator is Total E&P Italia S.p.A (50%) with Shell Italia E&P S.p.A holding the other 25% share. The oil is being exported via an existing pipeline to Taranto refinery in southern Italy where it is being used as feedstock or exported. The field will also produce 240 metric tons of liquefied petroleum gas (LPG) and 80 metric tons of sulfur a day. Six out of eight...

10th DEC 2021 Santos is pleased to announce that the merger with Oil Search is now effective following the approvals by Oil Search shareholders and the National Court of Papua New Guinea. Oil Search shareholders will receive 0.6275 new Santos shares for each Oil Search share held on the record date of 14 December 2021. Santos Chairman Keith Spence said: “The merger combines two industry leaders to create a regional champion of quality, size and scale with a unique and diversified portfolio of long-life, low-cost oil and gas assets. “We look forward to integrating our businesses to create one high performing team – with a vision of becoming a global leader in the energy transition,” Mr Spence said. Santos Managing Director and Chief Executive Officer Kevin Gallagher said: “Santos and Oil Search are stronger together and will have increased scale and capacity to drive a disciplined, low-cost operating model and unrivaled growth opportunities over the next decade. “The merger creates a co...

SEPTEMBER 30, 2019 ConocoPhillips (NYSE: COP) today completed its previously announced transaction to sell two ConocoPhillips United Kingdom (U.K.) subsidiaries to Chrysaor E&P Limited for $2.675 billion, plus interest and customary adjustments. Together, the subsidiaries indirectly held the company’s exploration and production assets in the U.K., as well as approximately $1.8 billion in asset retirement obligations. Proceeds will be used for general corporate purposes. “We are pleased that Chrysaor recognizes the value of our U.K. exploration and production assets, and will continue their development in the future,” said Ryan Lance, chairman and chief executive officer. “Our business legacy in the U.K. reflects a 50-year history of achievement and operational excellence. Our workforce there should be proud of their accomplishments, and we look forward to maintaining our commercial trading business in London and continuing as operator of the Teesside oil terminal.” ConocoPhillips N...

1 April 2021 Harbour Energy plc is pleased to announce that, following the completion of the all-share merger of Chrysaor Holdings Ltd (Chrysaor) and Premier Oil plc (Premier), the Group’s enlarged ordinary share capital will be admitted to trading on the London Stock Exchange’s Main Market at 0800 BST today. A new global independent oil and gas company Harbour is a global independent oil and gas company, producing over 200,000 barrels of oil equivalent per day from the North Sea and South East Asia. The Group has a cash-generative diversified UK business with a significant operated position and competitive operating costs, providing resilience to commodity price volatility. In addition, Harbour has a broad set of international growth opportunities, including an attractive development and exploration portfolio and a management team with a track record of value creation through disciplined M&A transactions. The Group has a strong balance sheet and the financial flexibility to fund...

19/11/2013 Coastal Energy Company ("Coastal" or the "Company") (TSX:CEN) (AIM:CEO) announced today that it has entered into a definitive merger agreement providing for the acquisition by Compañia Española de Petroleos, S.A.U. ("CEPSA") of all of the issued and outstanding shares of Coastal at a price of C$19.00 per common share in cash. The purchase price represents a premium of 28% to the closing price of the Company's common shares on the TSX on November 18, 2013. The purchaser is a newly-incorporated CEPSA controlled entity in which Strategic Resources (Global) Limited ("SRG") is an investor. The proposed transaction has an aggregate value of approximately C$2.3 billion including the assumption of C$51 million of net debt. The transaction, which will be completed by way of statutory merger, is expected to close in the first quarter of 2014. Commenting on the acquisition, Randy Bartley, CEO of Coastal said, "This transaction delivers s...

September 2014 Chevron Netherlands Holdings has agreed to an offshore asset transfer with Petrogas International E&P, a subsidiary of Oman-based Petrogas E&P LLC. The transaction includesChevron Exploration and Production Netherlands’ interests in 11 offshore blocks in the Dutch North Sea, which last year generated net production of around 2,000 b/d of crude oil and 41 MMcf/d (1.2 MMcm/d) of natural gas; and 100% of the shares in Chevron Transportation B.V., which owns offshore and onshore crude oil and natural gas handling and transportation infrastructure. “Our decision…was a result of the company’s drive to focus on assets more aligned with our long-term strategic growth objectives,” said Craig May, managing director, Chevron Upstream Europe. Chevron Netherlands Assets A and B Blocks Gas Fields Development - A Barrel Full

04/04/05 ChevronTexaco Corporation (NYSE: CVX) and Unocal Corporation (NYSE: UCL) announced today that ChevronTexaco would acquire Unocal in a stock and cash transaction valued at approximately $18 billion, including net debt. The acquisition, which is subject to approvals by Unocal shareholders and certain regulatory agencies, will significantly enhance ChevronTexaco's position as a leading global energy provider. "Unocal is a unique independent with supermajor assets that are an excellent fit with our existing portfolio and our long-term strategies -- to grow profitably in core upstream areas, build new legacy positions and commercialize our large undeveloped natural gas resource base," ChevronTexaco Chairman and CEO Dave O'Reilly said. "It is an attractive transaction that provides value in both the near- and long-term." "Over the past several years Unocal has been highly successful in building a portfolio of major international and deepwater assets...

March 21, 2019 PTT Exploration and Production Public Company Limited (PTTEP), makes a success acquisition in Murphy Oil Corporation’s business in Malaysia worth USD 2,127 million which is expected to promptly add sales volumes by 15% and operating cash flow right after the deal is completed. Furthermore, the company also announces the success in winning two exploration blocks off Malaysia coast. These demonstrates PTTEP’s significant business progress in Malaysia. Phongsthorn Thavisin, PTTEP President and Chief Executive Officer, said PTTEP HK Offshore Limited (PTTEP HKO), a wholly-owned subsidiary of PTTEP, has signed a Share Sale and Purchase Agreement (SSPA) to acquire the 100% of Murphy Oil Corporation’s business in Malaysia through the equity in two subsidiaries - Murphy Sarawak Oil Company Limited and Murphy Sabah Oil Company Limited. The acquisition includes five petroleum exploration and production projects – the Sabah K project, the SK309 & SK311 project, the Sabah H proj...

28 October 2014 First oil was achieved from Cendor phase two in early September, marking a major milestone in the development of Block PM304. Petrofac is the operator for Block PM304, which includes the Cendor and nearby West Desaru oil fields, alongside its joint venture partners PETRONAS, Kuwait Foreign Petroleum Exploration Company and PetroVietnam. The original Cendorphase one mobile offshore production unit has been disconnected, and a bridge linking the phase one wells to the phase two wellhead platforms has been installed. The West Desaru tie-in to the new Cendor FPSO has been safely and successfully completed. Production from Block PM304 is expected to ramp up in the near-term as the facilities are fully commissioned and new wells are brought on line.

30 July 2021 PETRONAS is pleased to announce that the East Cendor field in Block PM304 located 140 kilometers offshore Peninsular Malaysia has achieved its first oil production on 23 June 2021. The field was developed by Petrofac (Malaysia) Limited (Petrofac), Kuwait Foreign Petroleum Exploration Company and PETRONAS Carigali Sdn Bhd, under the Block PM304 Production Sharing Contract. Petrofac is the operator of the block. East Cendor represents the fourth in the series of development in Block PM304, after Cendor, West Desaru and Irama. The project comprises the development of a single new Wellhead Platform (WHP) and installation of a new 6.3km pipeline linking the field to the existing FPSO Cendor. The field's production rate is expected to peak at over 7,000 barrels of oil per day which will further extend the economic life of Block PM304. PETRONAS Senior Vice President of Malaysia Petroleum Management, Mohamed Firouz Asnan said, "East Cendor's first oil success proves ...

14 May 2016 PETRONAS’ first floating liquefied natural gas (LNG) facility, PFLNG SATU has set sail to the Kanowit gas field , offshore Sarawak, making its historic 2,120 nautical mile journey to Malaysia on 14 May 2016. At 365-metre-long and with a dry weight of 132,000 tonnes, PFLNG SATU was towed from the Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME) shipyard in Okpo, South Korea for the offshore phase of the project. The PFLNG SATU will proceed with the installation, hook-up and commissioning of the floating facility once moored at the Kanowit gas field, 180 kilometres offshore Sarawak. PETRONAS’ Advisor of Global LNG Project – Project Delivery and Technology, Datuk Abdullah Karim said the sail away of the floating LNG facility marked a significant milestone in PETRONAS’ bold decision to deliver a game changer in the global LNG business as it paves the way for opportunities to monetise the greater availability of stranded gas reserves. “The sail away of PFLNG SATU is...

16th December 2014 Repsol has entered into an agreement to acquire 100% of Canadian oil company Talisman Energy worth US$8.3 billion (EU6.64 billion) plus debt. The transaction has been unanimously approved and recommended by the Boards of Directors of Talisman Energy and Repsol. The deal will transform Repsol into one of the largest energy groups worldwide, increasing its presence in politically-stable OECD countries and reinforcing its upstream business, which has become the company’s growth engine. Repsol intends to demonstrate the benefits to Canada and is excited to include Talisman’s talent and assets in its own world class operations. Calgary (Canada) will become one of the largest corporate centers outside Spain. Talisman will contribute first class producing and exploration assets in North America (Canada and U.S.), South-East Asia (Indonesia, Malaysia and Vietnam) as well as Colombia and Norway, amongst others. Repsol will increase its output 76% to 680,000 barrels of oil eq...

DECEMBER 8, 2021 ConocoPhillips (NYSE: COP) today announced two transactions intended to core up the important Asia-Pacific segment of its diverse global portfolio. The company announced it has entered into an agreement to sell the subsidiary that indirectly owns the company’s 54% interest in the Indonesia Corridor Block Production Sharing Contract (PSC) and a 35% shareholding interest in the Transasia Pipeline Company. The sale to MedcoEnergi for $1.355 billion is subject to customary adjustments and is expected to close in early 2022, subject to certain conditions precedent. The Indonesia assets being sold produced approximately 50 thousand barrels of oil equivalent per day (MBOED) for the nine months ended Sept. 30, 2021, and had year-end 2020 proved reserves of approximately 85 million barrels of oil equivalent. The effective date for the transaction will be Jan. 1, 2021. In addition, through its Australian subsidiary, the company announced that it has notified Origin Energy that...

About a decade ago Malaysia faced growing concerns about gas shortages on Peninsular Malay, where about 80 per cent of the population lives. At the same time the country faced the challenge of how to develop a group of large natural gas fields in the Gulf of Thailand, that had been considered stranded resources. The ten fields, which were estimated to contain approximately 1.7 trillion cubic feet (TCF) of gas resources, lay approximately 300 kilometers offshore Peninsular Malaysia, across three blocks. In 2012, U.S. independent energy company Hess Corporation, was selected by the Malaysian national oil company, PETRONAS, to help develop these fields in what would become known as the North Malay Basin (NMB) Integrated Gas Project . The project would be equally owned by Petronas and Hess with Hess also becoming operator. A long and strong partnership and presence in South-East Asia Prior to its entry into the NMB Project, Hess had enjoyed a long presence in South-East Asia, and was not a...

26 September 2022 PETRONAS is pleased to announce that the North Malay Basin (NMB) Phase 3 project in Block PM302, located 290 kilometres offshore Peninsular Malaysia, has recently achieved its first gas production. Block PM302 is operated by Hess Corporation’s subsidiary, Hess Exploration and Production Malaysia B.V. (Hess) with a 50 per cent participating interest, in partnership with PETRONAS Carigali Sdn Bhd, which owns the remaining 50 per cent. The NMB Phase 3 project was sanctioned in 2019 and is part of a multi-phase development. It includes the installation of the new Bergading-B Wellhead Platform that adds another 100 million cubic feet per day (MMscfd) of gas supply from Block PM302, bringing the total production to 400 MMscfd. PETRONAS Senior Vice President of Malaysia Petroleum Management (MPM), Mohamed Firouz Asnan said, “We are pleased that Hess has taken a long-term view of the business in Malaysia across industry cycles, demonstrating confidence in Malaysia's upst...

Jun. 21, 2012 Hess Corporation (NYSE: HES) announced today that it has signed agreements with PETRONAS to develop the North Malay Basin , located offshore Peninsular Malaysia. The agreements creating the North Malay Basin Integrated Gas Development Project include amendments to the existing Production Sharing Contract for Block PM302, which is operated by Hess. The amendments enlarge the contract area to include nine discovered fields in the North Malay Basin for production of natural gas. PETRONAS has also awarded Blocks PM325 and PM326B to Hess and PETRONAS Carigali that will be explored, appraised and developed. "The North Malay Basin Integrated Gas Development Project is consistent with our strategy to invest in long life, low risk reserves with attractive returns and exploration upside. It also builds upon our strategic partnership with PETRONAS," said Greg Hill, President of Worldwide Exploration and Production for Hess. Hess will have a 50 percent working interest and ...

November 10, 2016  Ophir Holdings & Ventures LTD ("Ophir"), a wholly owned subsidiary of Ophir Energy plc, and OneLNGSM, a joint venture between subsidiaries of Golar LNG Limited and Schlumberger, announce that they have signed a binding Shareholders' Agreement to establish a Joint Operating Company ("JOC") to develop the Fortuna project , in Block R, offshore Equatorial Guinea utilising Golar's FLNG technology. OneLNG and Ophir will have 66.2% and 33.8% ownership of the JOC respectively (with economic entitlements materially consistent with the equity interest in the JOC1). The JOC will facilitate the financing, construction, development and operation of the integrated Fortuna project and, from Final Investment Decision ("FID"), will own Ophir's share of the Block R licence and the Gandria FLNG vessel. This innovative structure aligns investment across the value chain and provides a framework to promptly deliver a fully financed project. ...

21 Aug 2017 The Ministry of Mines and Hydrocarbons ("MMH"), Ophir Equatorial Guinea (Block R) Ltd, OneLNG SA and La Compania Nacional De Petroleos De Guinea Ecuatorial ("GEPetrol") have nominated Gunvor Group Ltd ("Gunvor") as its preferred LNG Buyer for offtake from the Fortuna FLNG project . All parties have agreed the principal commercial terms subject to finalising a Sale and Purchase Agreement ("SPA") for the offtake ahead of the Final Investment Decision ("FID") on the Fortuna FLNG project. Gunvor is committed to take the full contract capacity of the Gandria FLNG vessel of 2.2 MMTPA which will be purchased on a Brent-linked, Free on Board ("FOB") basis for a 10 year term. The contract structure allows flexibility for up to 1.1mmtpa of the Fortuna capacity to be marketed on an alternate basis. Consequently the agreement gives the Fortuna partners alongside the State of Equatorial Guinea, the potential to sell volume...

3rd MARCH 2023 Equinor UK Limited has signed an agreement to acquire Suncor Energy UK Limited for a total consideration of USD 850 million. The transaction includes a non-operated interest in the producing Buzzard oil field (29.89%), an additional operated interest in the Rosebank development (40%) and Suncor employees based in the UK who work with these assets. “This transaction is in line with Equinor’s strategy of optimizing our oil & gas portfolio and deepening in our core countries. We are building on our longstanding position as a broad energy partner to the UK, strengthening our position as a reliable energy provider in Europe, while continuing to deliveron our ambition of becoming a net-zero company,” said Philippe Mathieu, executive vice president for Exploration and Production International. Equinor has been a reliable, broad energy partner to the UK for almost 40 years, developing domestic energy resources, generating low-carbon electricity, and supplying the equivalen...

9 Mar 2021 Shell Egypt and one of its affiliates have signed an agreement with a consortium made up of subsidiaries of Cheiron Petroleum Corporation and Cairn Energy PLC to acquire Shell’s upstream assets in Egypt’s Western Desert for a base consideration of US$646 million and additional payments of up to $280 million between 2021 and 2024, contingent on the oil price and the results of further exploration. The transaction is subject to government and regulatory approvals and is expected to complete in the second half of 2021. The package of assets consists of Shell Egypt’s interest in 13 onshore concessions and the company’s share in Badr El-Din Petroleum Company (BAPETCO). “Today’s announcement is consistent with Shell’s efforts to shift our Upstream portfolio to one that is more focused, resilient and competitive” said Wael Sawan, Shell’s Upstream Director. “The deal will deliver value to Shell and to Egypt. It will enable Shell to concentrate on its offshore exploration and integra...

30 April 2015 Edison announces the acquisition from Apache Beryl I Ltd (a subsidiary of Apache Corporation) of its assets in license P185 Block 15/22 in the UK Central North Sea, which include non-operated equity stakes in the Scott (10.5% unitised Working Interest “WI”), and Telford (15.7% unitised WI) fields. The transaction has a total value of 41 million euro and will increase Edison’s reserves by 8.7 Million barrel of oil equivalent (85% oil and 15% gas). In 2014 the equity production of Scott and Telford fields has been 1.276 million barrels of oil equivalent and it is expected to remain stable in the next 3-4 years - ensuring an average of 3,500 barrel of oil equivalent per day to Edison. Thanks to the operation Edison expects to reach an overall UK production of 6,500 barrel of oil equivalent per day, increasing Edison total daily production to 53,500 barrels of oil equivalent. Scott and Telford fields are operated by Nexen, one of the most reputable and experienced operators ...

August 2, 2022 Saipem has been awarded an offshore E&C contract by Enimed, a subsidiary of Eni S.p.A., for the Transportation and Installation of an offshore gas pipeline connecting the four wells of Argo and Cassiopea Fields to the Sicilian coast (Italy), worth approximately 300 million Euro.  With a length of 60 km and a maximum water depth of 660 mt, the 14” gas pipeline will be installed by Castorone and Castoro 10, both globally recognized as first class pipelay vessels. Moreover Saipem 3000 vessel will install umbilicals connecting Cassiopea wells to the Prezioso Platform.  The Cassiopea project represents a strategic and complementary infrastructure in the frame of the Italian gas supply, which has been recently affected by the geo-political scenario, setting Saipem as one of the main Contractors able to effectively support clients and to provide tangible solution to the current energy crisis.

July 4, 2019 Edison announces the signing of a sale and purchase agreement with Energean Oil and Gas to sell the 100% of Edison Exploration and Production (E&P) and its subsidiaries in the hydrocarbons exploration and production business (oil and natural gas). The Edison Board of Directors approved the transaction on July 3, 2019. The price of the transaction is based on an enterprise value of USD 750 million, with an additional consideration of USD 100 million contingent on the commissioning of Cassiopea development gas project in Italy. Additionally, Edison will be entitled to royalties associated with further potential developments in Egypt that would bring the aggregate value close to USD 1 billion. The transaction includes also the transferring to the buyer of all Edison future decommissioning obligations. Edison Exploration and Production manages all of Edison’s activities, mining titles and corporate shareholdings in the hydrocarbons business in Italy and abroad. In particul...

15 JUNE 2021 Eni has signed an agreement with the Arab Republic of Egypt, the Egyptian General Petroleum Corporation (EGPC) and Lukoil for the merger of the concessions of Meleiha and Meleiha Deep, in Egypt's Western Desert, and their extension to 2036, with the possibility of reaching further to 2041. The agreement, which marks another important result for Eni in the prolific basin of the Egyptian Western Desert, will unlock, through enhanced contractual terms, the area’s considerable resources, thanks to a high-resolution 3D seismic acquisition and an intensive exploration and development drilling campaign. Moreover, the construction of a new gas treatment plant, which will be connected to the Western Desert Gas Complex in Alexandria, will allow to further exploit region's gas reserves, strengthening Eni's role as the largest gas producer in Egypt. The company will leverage on the skills of local contractors already involved in the implementation of important projects in...

Wednesday, March 1, 2023 Cepsa has signed an agreement with TotalEnergies to sell its E&P business in the United Arab Emirates, comprising the transfer of Cepsa’s 20% participating interest in the Satah Al Razboot , Umm Lulu , Bin Nasher and Al Bateel concession (the “SARB and Umm Lulu Transaction”) and the subsequent transfer of its 12.88% indirect interest in the Mubarraz Concession through the sale of its shares in Cosmo Abu Dhabi Energy Exploration & Production Co. Ltd (the “Mubarraz Transaction”). The SARB and Umm Lulu Transaction and the Mubarraz Transaction shall be jointly referred to as the “Transaction”. The Transaction is subject to satisfaction of customary conditions precedent, including formalization of documentation and final approvals. The Transaction is to have an effective date of January 1st, 2023. The Transaction achieves key objectives set out in Cepsa’s 2030 “Positive Motion” strategy advancing the group’s transformation into a leader in sustainable mobi...

July 28, 2021 ExxonMobil today said it made a discovery at Whiptail in the Stabroek Block offshore Guyana. The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high quality oil bearing sandstone reservoirs. Drilling is also ongoing at the Whiptail-2 well, which has encountered 167 feet (51 meters) of net pay in high quality oil bearing sandstone reservoirs. Drilling continues at both wells to test deeper targets, and results will be evaluated for future development. The Whiptail discovery is located approximately 4 miles southeast of the Uaru-1 discovery that was announced in January 2020 and approximately 3 miles west of the Yellowtail field. Whiptail-1 is being drilled in 5,889 feet (1,795 meters) of water by the Stena DrillMAX. Whiptail-2, which is located 3 miles northeast of Whiptail-1, is currently being drilled in 6,217 feet (1,895 meters) of water by the Noble Don Taylor. “This discovery increases our confidence in the resource size and quality in the southeast...

30.06.2021 As part of the second start-up complex of the project «First stage of the reverse section of the « Kenkiyak-Atyrau» Oil Pipeline with a capacity of up to 6 million tons per year», the main pumping station and technological facilities of the «Aman» Oil Pumping Station were put into operation on June 30, 2021. The project is one of the stages of construction and development of the «Kazakhstan-China» oil pipeline system. Putting it into operation will increase the transportation of Kazakh oil to China to 6 million tons per year and will ensure a stable loading of raw materials for oil refineries of the Republic of Kazakhstan. The investment project «First stage of the reverse of the «Kenkiyak-Atyrau» oil pipeline section with a capacity of up to 6 million tons per year» is being implemented by «MunaiTas» LLP. «MunaiTas» LLP – a joint venture of «KazTransOil» JSC (51 %) and CNPC Exploration and Development Company Ltd (49 %), created for the purpose of implementing a project fo...

15.05.2023 KazTransOil JSC has concluded an additional agreement with PJSC «NK «Rosneft» to the contract for the provision of services for the transportation of Russian oil through the territory of the Republic of Kazakhstan to the People's Republic of China. The document will become effective from the date of entry into force of amendments and additions to the agreement between the Government of the Russian Federation and the Government of the Republic of Kazakhstan on cooperation in the field of transportation of Russian oil through the territory of the Republic of Kazakhstan to the People's Republic of China dated December 24, 2013. An additional agreement to the agreement between KazTransOil JSC and PJSC «NK «Rosneft» provides for the extension of the agreement until January 1, 2034, transportation of 10 million tons of Russian oil per year to the People's Republic of China and maintaining the current tariff. Currently, the tariff of KazTransOil JSC for the service of t...

31.08.2023 KazTransOil JSC carried out work on connecting the newly constructed sections of the pipeline of the main oil pipeline Uzen - Atyrau - Samara Ø720 mm at 1190.4 - 1235.4 km and the acceptance point at 1235 km. To connect the replaced sections of the pipeline with a total length of 45 km, a scheduled shutdown of the Uzen-Atyrau-Samara oil pipeline was required at the Atyrau-Samara section for 72 hours. All technical work was completed on time, in compliance with the requirements of industrial safety and labor protection. 188 employees of the Mangystau, Atyrau, Aktobe and Pavlodar oil pipeline departments, as well as employees of the operation department of KazTransOil JSC and the main dispatching department of the branch Oil Transportation Control Center of KazTransOil JSC were involved in the activities to connect sections of the oil pipeline after reconstruction. The number of equipment involved is 78. Due to the fact that the work was carried out on the territory bordering...

13 May 2014.  KazMunaiGas Exploration Production Joint Stock Company (“KMG EP” or “the Company”) announces a new discovery in the Bashkirian tier’s sediments of the Carboniferous period in the Rozhkovskoye field . Inflow of light dry crude oil and gas with maximum flow rates of 1.9 kboe/day and 6 million cubic feet/day, respectively, with 24/64” (9.5 mm) choke, was produced while carrying out tests in reservoirs of the Bashkirian period at the U-24 well drilled in 2013 in the north-east wing of the field. Previous exploration at this part of the field targeted hydrocarbons in the Bobrikovskiy and Tournaisian horizons. Oil reserves of the new discovery have not been included in Miller & Lents Ltd.’s 2013 year end reserve assessments. Positive test results from the new Bashkirian deposit increase the prospects of growing field’s reserves. A quantitative evaluation of reserves growth will occur following the results of further exploration. Mr. Abat Nurseitov, the Chief Executive O...

On 11 December 2022, Chairman of the Management Board of JSC NC “KazMunayGas” Magzum Mirzagaliyev met with Vice President for Technology and New Developments at Chevron Phillips Chemical Venka Chandrashekar. During the event, the parties signed a License Agreement and a Design Agreement for implementation of “Construction of integrated gas chemical complex in Atyrau Region, Phase II (polyethylene)” project . The Agreement provides for development of design documentation for a polyethylene production unit using MarTECH® ADL technology, and provision of a corresponding license for production of 625 thousand tonnes of polyethylene per year. Chevron Phillips Chemical’s technology will enable production of a wide range of products at the future Kazakh plant, including premium high-density polyethylene that is projected to maintain a long-term growth in global demand. The second polymerisation unit, with capacity of 625 thousand tonnes of polyethylene per year, is at the stage of final negot...

June 5, 2018 President of LUKOIL Vagit Alekperov and Chairman of the Management Board of the National Company KazMunayGas Sauat Mynbayev signed a Principles Agreement on Zhenis license area , in Astana today. According to the agreement, the parties will establish a consortium upon completion of relevant procedures, required for the agreement to enter into force, and negotiate with a competent authority of the Republic of Kazakhstan to qualify for exploration and production at the block. Zhenis area is located in the Kazakhstani sector of the Caspian Sea, at depths varying from 75 to 100 meters, close to fields with proven hydrocarbon reserves, 80 kilometers offshore and 180 kilometers away from the port of Aktau (Kazakhstan). ​The new Caspian project is an important milestone in terms of sprawling of the company's resource base in the strategically critical region, where the company has already gained significant competencies. ​

5 July 2019  The Kazakh Ministry of Energy, KazMunayGas (KMG) and Eni signed a protocol of direct negotiations to grant the subsoil use right for exploration and production of hydrocarbons within joint operations on Abay, an offshore area in the Kazakhstani sector of the Caspian Sea. The Abay block is located in the northern part of the Kazakhstan sector of the Caspian Sea, approximately 50 km from the coast in a water depth of less than 10 meters. The block is estimated to have significant potential for hydrocarbon resources. Eni and KMG will each hold a 50% share in the Abay block and Eni will carry KazMunayGas’s share of the costs during the exploration period. The block will be operated by the “Isatay Operating Company”, equally owned by Eni and KMG, that also operates the Isatay block, in order to maximise synergies and operation efficiencies. This is the first case in Kazakhstan where one Joint Company will operate two projects. The Company will benefit from Eni’s proprietar...

February 9, 2023 PJSC LUKOIL and JSC NC KazMunayGas signed several agreements today in Astana regarding the Kalamkas-Sea, Khazar, Auezov subsoil area development project in the Kazakhstan sector of the Caspian Sea. They define rights and obligations of the subsoil user during joint development activities in the area. The agreements will come into force following the completion of the sale and purchase transaction between LUKOIL and KazMunayGas that will result in both companies holding equal shares in Kalamkas-Khazar Operating LLC, the operating company for the project.​ In late 2021, LUKOIL signed a principles agreement on the Kalamkas-Sea, Khazar, Auezov project and became Kazakhstan's strategic partner in the development of these Caspian offshore subsoil areas.

27.12.2022 JSC NC “KazMunayGas” (KMG) and Univation Technologies (USA) signed a licensing agreement for the second polymerisation unit with an annual capacity of 625,000 tonnes of polyethylene, for the  Kazakhstan IPCI Petrochemical Project .  The agreement between KMG and Univation covers a Process Design Package (PDP) for the polyethylene (PE) unit based on UNIPOL™ PE Process and a corresponding licence for the production of 625,000 tonnes of PE per year. UNIPOL™ PE Process will enable the production of a wide range of mass and premium grades of polyethylene, while achieving maximum flexibility in supplying highly competitive products to domestic and foreign markets. The agreement also covers the supply of Univation’s PE polymerisation catalyst systems, including UCAT™ B and UCAT™ J catalysts, which, when used together, will enable the mass production of blown high-density PE (HDPE), linear low-density PE (LLDPE) film and cast high-density PE (HDPE) grades. PRODIGY™ process ...