Royal Dutch Shell Plc, Eni SpA and their partners in the Karachaganak oil and gas venture may be required to pay an additional $1 billion to settle a dispute with Kazakhstan over revenue sharing, said people familiar with the matter.
A brawl between Kazakh workers and their Arab colleagues in one of Kazakhstan's largest oil fields has left 30 people injured and led to an outcry in Lebanon and Jordan.
How should poor countries which find themselves rich in oil and gas use their wealth to build a sustainable future for their people? There is a wide range of options and plenty of examples of how to get it wrong.
Italian energy company Eni has signed an agreement to renew the conditions for the transfer to Eni of 50% of the subsoil use rights in the Isatay block in the Caspian Sea off Kazakhstan.
Ellon-based integrity monitoring specialist North East Corrosion Engineer (NECE) has won its first contract of the year in Kazakhstan.
A policy of nationalizing chunks of an economy inevitably creates oligarchs who skim profits off the country's natural resources.
Kazakhstan has agreed to continue talks over a tax dispute with a consortium of oil majors led by Shell and Eni.
Kazakhstan said it may offer to freeze its oil output at last month's level at talks between Opec and non-Opec producers in Vienna later today.
Kazakhstan said it's state security service has detained several people suspected of stealing oil and fuel from a refinery which has been linked to radical Islamists.
Kazakhstan's Energy Minister said he has not yet decided whether to attend the meeting of OPEC members and other oil producers in Vienna.
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.
Central Asia focused Tethys Petroleum suffered a 46% slump in third quarter revenues due to a drop in production and the devaluation of the Kazakh currency.
Production resumed today from the giant, $50billion Kashagan oil and gas field in the Caspian Sea, Kazakhstan’s energy ministry said in a statement.
Wood Group said today it had won a $700million contract to provide automation contractor services to a partnership in Kazakhstan.
Chevron today confirmed its 50% owned affiliate, Tengizchevroil (TCO), will go-ahead with a $36.8billion aimed at increasing production in Kazakhstan to one million barrels of oil equivalent a day.
Nostrum Oil and Gas saw pre-tax profit fall by more than two thirds last year as it was hit by lower production and falling oil prices.
Kazakhstan's President has replaced the current energy minister Vladimir Shkolnik with a regional governor.
Russia is responsible for 25 key crude and natural gas projects expected to commence operations by 2025, dominating the Former Soviet Union’s (FSU) oil and gas production, according to a new report.
One thing that oil producers congregating in Davos agree on is that the oil rout can’t go much further. There’s less consensus about when the recovery will arrive. Officials from Kazakhstan and Nigeria to Azerbaijan and Saudi Arabia, speaking at the World Economic Forum, concur that the global glut will begin to dissipate this year as the lowest prices in 12 years force cuts in spending and production.
Roxi Petroleum, the Kazakhstan-focused independent said it has improved its flow rates from its flagship Well 143, whilst still encountering blockages from its deeper wells.
Tethys Petroleum has agreed to extend the previously agreed exclusivity period with Kazakh investor Olisol Investments until December 7.
Caspian Energy said it had produced positive results on two of its existing wells in Kazakhstan. The company’s subsidiary, Aral Petroleum, has just completed a period of test production at the East Zhagabulak field in Aktobe Oblast. After 10 months of inactivity, operating staff performed basic geological and mechanical tests which involved re-opening the wells and testing oil pressure.
Roxi Petroleum, the Kazakhstan-focused independent, has spudded a new deep well at its flagship BNG asset in the Asian country.
Securing 40 trade deals with Kazakhstan worth £3 billion was “not bad for one afternoon’s work”, David Cameron declared after talks with the country’s president. The Prime Minister said he saw Britain and the oil and mineral-rich central Asian state as “partners in prosperity and partners in progress” as he oversaw a signing ceremony at the Foreign Office alongside Nursultan Nazarbayev. Downing Street said Mr Cameron raised the issue of human rights with his counterpart, who was recently re-elected with 97.75% of the vote and is regarded by critics as an autocrat. Mr Nazarbayev insisted he was committed to widespread reforms including ending corruption, improving the justice system and ensuring “an open, liberal government that is accountable to the people”.
Roxi Petroleum said it expects to spud the Deep Well A6 in Kazakhstan in the next few days for a fixed cost of $8.5million. The new deep well has a planned depth of 5,000metres targeting pre-salt intervals in the Cretaceous and is expected to take four months to reach its planned total depth. A further two deep wells will also be drilled in the next 12 months with the timing and location dependent on findings from other existing deep wells.