Zenith Energy snaps up rig for £250k
Azerbaijan-focused Zenith Energy has struck a deal to buy a new workover rig for £250,000.
Azerbaijan
Global opportunities on show at Subsea Expo 2018
UK subsea service companies will have a chance to broaden their horizons at the sector’s main annual conference and exhibition.
Azerbaijan’s Socar to ditch Calgary base
Azeri state oil firm Socar's will close its North American division's Calgary office and move all commercial and support functions to Houston, a news report said.
BP’s second Shah Deniz 2 platform installed offshore
BP said today that the second topsides unit for its Shah Deniz Stage 2 project has been installed in the Caspian Sea.
IKM sign on to be part of Azerbaijan drilling operation
Service company IKM Cleandrill have signed a contract to be brought on-board the Absheron Project in the Caspian Sea.
Zenith Energy raise production from Azeri well
Calgary-based Zenith Energy said today that it had increased production from the M66 well on Azerbaijan’s Muradkhanli field.
Five offshore workers injured in Caspian Sea crash
Five offshore workers in Azerbaijan have been injured following after a seismic vessel crashed into a platform in the Caspian Sea.
Azeri energy minister dies
Azerbaijan’s energy minister has died in Turkey while receiving treatment following a heart attack, officials say.
Shah Deniz gas project gets $500m loan
The Asian Development Bank (ADB) will provide a $500million loan to support the Shah Deniz 2 gas project in the Caspian Sea, the Azeri finance ministry said.
EnerMech nets £40m worth of Caspian deals
Engineering services firm EnerMech said today that it had won £40million worth of contracts in the Caspian region.
Opinion: The secret wealth of the world’s richest oil billionaires
A policy of nationalizing chunks of an economy inevitably creates oligarchs who skim profits off the country's natural resources.
Zenith Energy kicks-off Azerbaijan campaign
Zenith Energy has taken over operatorship of Azerbaijan's largest onshore producing oilfield.
Aberdeen firm EnerMech announces £85m of new work
Aberdeen oil and gas engineering firm EnerMech said yesterday its cranes and lifting division had enjoyed an £85million boost from contract wins, extensions and renewals.
Technip wins contract to upgrade Azeri petrochemicals plant
France’s Technip has won a contract to upgrade a petrochemical complex in Sumgait, Azerbaijan.
Shipments from Azerbaijan via Russia down in 2016
Azerbaijan's state oil company SOCAR said it has shipped 728,768 tonnes of oil via Russia from the start of the year.
In pictures: BP’s Shah Deniz platform begins sail away to Azerbaijan
A jacket for one of the Shah Deniz stage 2 platforms has begun its sail away for offshore installation.
Lenders limit dollar sales in Baku as Azeri currency wilts amid oil price rout
Dollar sales in the Azeri capital have all but seized up as demand from households still reeling after two devaluations last year leaves most banks running on empty, with the manat plunging the most globally against the U.S. currency on Friday.
Rise in oil and gas output fail to prevent Azeri economy shrinking
Azerbaijan’s oil production went up 0.7% to 24.7million tonnes in the first half of 2016, while natural gas output rose by 500million cubic metres, according to the country’s statistics committee.
Azerbaijan produces 21m tonnes of oil in first half of 2016
Azerbaijan has produced more than 21million tonnes of oil in the first six months of the year, according to new data.
Wood Group wins $500m BP contract, creates 200 jobs
Wood Group has won a $500million contract with BP operated projects offshore Azerbaijan creating 200 new positions.
Sweeping search for missing oil workers called off
Authorities have stopped a sweeping search for 18 oil workers who disappeared from an oil platform in the Caspian Sea.
Azerbaijan raises rates first time since 2011 as oil jolts Manat
The Azeri central bank increased its key interest rate for the first time in almost five years as it struggles to restore confidence in the national currency after the collapse in crude prices.
Azerbaijan needs reforms to weather cheap oil – IMF
The International Monetary Fund (IMF) today urged Azerbaijan to boost reforms and diversify its economy in order to withstand a plunge in global crude prices which has badly hit growth, budget revenues and the manat currency.
BP to spend $150m on Baku-Supsa pipeline upgrade
BP plans to spend $150 million to upgrade some parts of the Baku-Supsa oil pipeline which runs from Azerbaijan to Georgia, the Georgian government said on Thursday.
Seven confirmed dead in oil rig fire, 23 still missing
The confirmed death toll after a fire swept through an offshore oil platform in Azerbaijan has increased to seven.