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Russia and Caspian upstream in brief

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20 September 2019

Russia and Caspian upstream in brief

Report summary

The Russia and Caspian upstream in brief provides Wood Mackenzie's expert opinion and analysis of the key events impacting the upstream industry in the region. We draw upon our upstream database and data tools to help deepen our clients' understanding of the region. The report primarily focuses on exploration and appraisal drilling, project developments, production, licensing, fiscal and regulatory changes, geopolitics, and corporate and M&A activity.

Table of contents

    • BP signs construction contracts for new ACE phase at Azerbaijan’s ACG megaproject
    • Russian Ministry of Finance to support Baltic LNG
    • Here to stay: Russian tax increment could become permanent
    • NOVATEK and Gazpromneft go east
    • LNG agreements dominate Russia’s 5th Eastern Economic Forum
    • Nord Stream 2 inches ahead
    • Chart of the month: understanding direct and indirect ownership in Russia
    • Russia did not comply with the OPEC+ cut in August
    • Russia's Gazpromneft to build a gas pipeline from Novoportovskoye to Yamburg
    • 24 billion boe of prospective resources are up for auction in Russia
    • Russia’s Federal Antimonopoly Service (FAS) increases Gazprom market trading quota
    • New Arctic exploration opportunities
    • Gazprom connects the Chayandinskoye field to Power of Siberia pipeline
    • One year on – revisiting the landmark Caspian Sea agreement
    • NOVATEK starts tender process for its new Obskiy LNG
    • Wildfires and clogged pipelines: Russian oil production falls again
    • Transneft compensates for Druzhba oil pipeline incident
    • NOVATEK Q2 2019 results – quickly building the LNG portfolio
    • ExxonMobil queries restrictions on foreign-flagged vessels
    • President Putin meets Shell CEO in St. Petersburg
    • Russia introduces a moratorium on new tax reliefs for oil fields
    • Gazprom awards RUB 51 billion contract to RusGazDobycha for the Kirinskoye field development
    • NOVATEK gets nod to build transhipment terminal near Murmansk
    • Uzbekistan’s reform drive moves up a gear with NOC restructuring
    • CPC oil pipeline approves US$600 million project to boost Kazakh capacity
    • Gazprom on the hunt for gas in the Kara Sea
    • Arcticgas progresses with Achimov development in Russia
    • Georgia's 2018 licensing round falls flat despite awards
    • 15 more years at Dunga – Total and partners secure Kazakh contract extension
    • Gazprom signs five-year gas sales agreement with Turkmenistan
    • Russia extends cut with the OPEC+ group
    • TANAP and TAP pipelines maintain Southern Gas Corridor momentum
    • Mitsui and JOGMEC to get 10% in Russian Arctic LNG-2
    • Equinor adds to resurgent IOC exploration pipeline in Azerbaijan
    • Putting a price on Russian gas
    • Upstream tax changes on the horizon in Russia
    • LUKOIL makes progress in the Caspian Sea
    • PTTEP buys Partex – what is the Kazakh angle?
    • Kazakh-focused Nostrum Oil & Gas is open to offers
    • Progress at Nord Stream 2 despite headwinds
    • Taking stock of Kazakhstan's presidential election
    • High-profile deals in St. Petersburg
    • Striking deals in St. Petersburg
    • Druzhba contamination weighs down on Russian oil production
    • Neftegazholding to start development drilling at Paiyakhskoye
    • NOVATEK plans new Obski LNG for 2022
    • LUKOIL develops new offshore fields in the Baltic Sea
    • Kashagan production restarts after successful maintenance downtime
    • Gazprom makes world-class discovery
    • NOVATEK select TechnipFMC as EPC contractor on Arctic LNG-2
    • BP exploration pact and petchem deal headline Uzbek energy conference
    • Oil flows at Mingbulak for CNPC and Uzbekistan's NOC
    • Rosneft could abandon the FEPCO project
    • FID for final plateau extension project at Kazakhstan's Karachaganak megaproject
    • Five thoughts from a Silk Road trip to Uzbekistan
    • Contamination scare for Druzhba
    • Turkmen NOC keeps up drilling pace at its deepest field
    • Azerbaijan gets positive news on two key offshore gas wells
    • Chinese players buy 20% in Arctic LNG-2
    • Vysotsk LNG inaugurated by President Putin
    • Kashagan production shutdown – what to watch at Kazakh megaproject
    • Gazpromneft starts oil developments at Yamburgskoye, Pestsovoye and Yen-Yakhinskoye
    • Igor Sechin outlines his plan for the Arctic with President Putin
    • BP takes FID on new platform at Azerbaijan's ACG oil field
    • Total to invest in NOVATEK's LNG terminals
    • Gazprom makes its first Turkmen gas purchases in three years
    • NOVATEK signs first agreements on supply from Arctic LNG-2
    • Tajikistan's pre-salt: what happened to Central Asia's exploration wildcard?
    • Kamchatka LNG transhipment terminal construction to start in 2020
    • Gazprom launches development of Kharasaveiskoye
    • Kazakhstan's president resigns: what does it mean for the upstream sector?
    • Equinor gets a rig for Karabakh appraisal in Azerbaijan
    • NOVATEK commissions Vysotsk LNG
    • Eni signs initial agreements for new Kazakh offshore exploration block
    • LUKOIL faces domestic gas sales in Uzbekistan
    • Russian operators to reach OPEC+ cut level by early April
    • Will exports be the only driver of Russia’s long-term energy growth?
    • LUKOIL 2018 results released, D41 and South Messoyakhskoye fields to be brought onstream in 2019
    • EU reaches provisional agreement on regulations affecting Nord Stream 2
    • Siemens to produce Arctic LNG-2 compressors in Russia
    • Turkmen oil exports switch route after Vitol triumph
    • SIBUR to take FID on Amur gas chemical complex (GCC) before year-end
    • BP Azerbaijan confirms strong 2018 performance at its megaprojects
    • Gazprom signs an agreement with Almaz-Antey for the supply of subsea equipment
    • LPG sales under evaluation at Kazakhstan's Kashagan megaproject
    • The RDIF could acquire 30% in Eurasia Drilling Company (EDC)
    • Resource capture in Russia and Caspian
    • Azerbaijan to use Kazakhstan's stacked Satti jack-up rig
    • Salym Petroleum Development expands in Khanty-Mansi region
    • Siemens to provide compressor units for Arctic LNG-2
    • TurkStream volumes to flow into Serbia
    • NOVATEK ready to swap assets with Gazpromneft
    • Kazakh oil and condensate production impresses in 2018
    • Georgia launches onshore licensing round
    • Trans Adriatic Pipeline (TAP) completes EUR 3.9 billion project financing
    • Russia: Gazprom launches Kaliningrad FSRU
    • Uzbekistan GTL secures critical US$2.3 billion financing
    • Gazpromneft and Repsol acquire ASB Geo
    • Commercial oil production launched at Yaro-Yakhinskoye
    • Lundin Petroleum exits Russia's upstream
    • NOVATEK signs new deals for GBS construction, equipment for Arctic LNG-2
    • Kazakhstan breaks ground on Saryarka gas pipeline to Astana
    • OPEC and Russia ink new production cut deal
    • December editorial - Enhancing Russia's oil production
    • Chevron and ExxonMobil evaluating exit from Azerbaijan
    • LUKOIL signs up for offshore Kazakh exploration
    • Yamal LNG exports first 100 cargoes in less than a year
    • Line C of Turkmenistan-China Gas Pipeline reaches design capacity
    • Gazpromneft wins the licence for the South Obski block
    • Nostrum Oil & Gas further downgrades Kazakh production guidance
    • Yamal LNG commissions the third train
    • BP Azerbaijan – production strong, exploration rebounding
    • TurkStream offshore section complete
    • CNPC and NC KazMunaiGas relinquish Kazakh offshore exploration blocks
    • NOVATEK continues its successful exploration campaign
    • Gazpromneft makes a billion barrel discovery offshore Sakhalin
    • Azerbaijan-focused Greenfields Petroleum to list in London
    • Azerbaijan evaluates its gas import needs for 2019-20
    • November editorial - Georgia's upstream sector - why's it on our mind?
    • Trans Adriatic Pipeline (TAP) upheld by new Italian government
    • Eni exits Black Sea project with Rosneft
    • Kazakhstan agrees to increase gas exports to China
    • Gazprom set to resume Turkmen gas purchases
    • Total signs MoU to evaluate Uzbek exploration
    • NOVATEK intends to commission Vysotsk LNG in 2018
    • Get ready for Arctic LNG-3
    • October editorial - Russia looks east again
    • How high can Russian production go?
    • Kazakhstan and Eni/Shell-led Karachaganak consortium to settle PSC dispute
    • LetterOne and BASF merge upstream assets to form Wintershall DEA
    • Total acquires extra 0.5% share in NOVATEK
    • Resource upgrade at Neptune
    • NOVATEK increases reserves at Salmanovskoye (Utrenneye)
    • ONGC Videsh to exit offshore Kazakh exploration project
    • BP buys into Azerbaijan's onshore, with exploration in mind
    • FID for debottlenecking at Kazakhstan's Karachaganak megaproject
    • Rosneft withdraws from Pechora LNG
    • Gazpromneft deal with Mubadala and RDIF completed

Tables and charts

This report includes 61 images and tables including:

  • Azerbaijan – key contract awards for Azeri Central East (ACE) platform
  • Location of the North Vrangelevski block
  • Nord Stream 2 location map
  • Russia monthly liquids production
  • Announced licence auctions in Russia
  • Location of licences to be auctioned in 2019
  • Licence awards on the Taimyr and Gydan Peninsula
  • Russia's Far East
  • Uzbekistan – what to watch in H2 2019
  • CPC pipeline capacity – the need for debottlenecking
  • Kara Sea E&A
  • Georgia licence awards
  • Kazakhstan – Dunga field
  • Russian liquids production outlook
  • Southern Gas Corridor value chain
  • Azerbaijan: Aypara-1 well
  • LUKOIL's liquids production in the Russian part of the Caspian Sea
  • Nostrum Oil & Gas' portfolio in northwest Kazakhstan
  • Gazpromneft's new partnerships with Shell and Repsol
  • Russian oil and condensate production
  • Paiyakhskoye field (Krasnoyarski krai)
  • Offshore fields in Russia's Kaliningrad region
  • Kashagan growth options
  • Gazprom's discoveries in the Kara Sea
  • Uzbekistan: new exploration agreements
  • FEPCO project in the Far East
  • Karachaganak megaproject: liquids production outlook (base case)
  • Uzbekistan sales gas outlook
  • Turkmenistan: ultra-deep Uzynada field
  • Caspian Sea: top 10 deepest E&A wells
  • Kashagan oil production
  • Caspian region: key 2019 maintenance periods
  • Liquids production in Russia
  • Russia primary energy demand by fuel (2005-35)
  • BP-operated production in Azerbaijan
  • Kazakhstan 2018 oil and condensate production
  • Georgia 2018 licensing round blocks on offer
  • Saryarka gas pipeline
  • IOC value in Azerbaijan (upstream and midstream)
  • Location of the Zhenis block in the Caspian Sea
  • Chinarevskoye sales production
  • Ayashski block in Russia's Far East
  • Gazprom purchases of Turkmen gas, 2008 onwards
  • Russian monthly production since 2016
  • Karachaganak PSC Settlement Agreement
  • Evolution of Total's participation in NOVATEK
  • NOVATEK's LNG projects
  • Karachaganak megaproject: liquids production outlook (base case)

What's included

This report contains:

  • Document

    Russia and Caspian upstream in brief

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