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Last November , w hen Azerbaijan hosted COP29 , the United Nations annual climate summit , i t was a sort of coming-out party for the country. This green energy corridor could help shore up energy security in the European Union, replacing the Russian natural gas that Europe used to import. It could help the E.U.
Yet-to-find (YTF) resources will contribute to around 30% of the total production of natural gas worldwide by 2050, according to Yury Sentyurin, the Secretary General of the Gas Exporting Countries Forum (GECF). Senturin made his remarks during the 25 th Oil & Gas of Turkmenistan Conference. —Secretary General Sentyurin.
Devon Energy Corporation has entered into agreements to sell all of its assets in the deepwater Gulf of Mexico, Brazil and Azerbaijan to BP for $7.0 In Azerbaijan, acquisition of Devon’s 5.63% stake in the ACG development will increase BP’s operating interest in the fields to 39.77%. billion in cash.
Earlier in December, Cobalt International Energy announced a significant discovery at its Lontra well in the pre-salt play offshore Angola, in which BP holds a 30% interest. The discovery well encountered both a high liquids content gas interval and an oil interval. Click to enlarge. —Joseph H. Bryant, Cobalt’s Chairman and CEO.
It will also establish fast transportation links connecting Astana and Aktobe with the major oil and mineral–rich city of Atyrau, and the country’s only international commercial seaport in Aktau.
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