2020 was a bad year for most businesses, and for offshore gas projects in Romania especially. Almost a year and a half after Exxon Mobil announced its intention to sell its 50% share in the Neptun Deep offshore project on Romania’s Black Sea shelf, a buyer has yet to be found. And despite the government’s […]
Exploration
The creation of a consortium for building the Trans-Caspian Gas Pipeline (TGP) made up of Edison Technologies, MMEC Mannesmann, Air Liquid Global E&C Solution, and the SINOPEC Engineering Group was announced in August 2019. Analysts believe, however, that the likelihood of the plans announced by the consortium being achieved are minimal due to a current lack of the necessary political, legal, financial and economic conditions for the project.
In recent years production of crude oil in Azerbaijan has been steadily declining. In 2015 Azerbaijan, a former Soviet Transcaucasian Republic and a large global oil- and gas-market player, produced 41.7 million tonnes of ‘black gold’, whereas in 2016 production was a million tonnes less. Over the first six months of this year Azerbaijan produced […]
The Arctic shelf: cold but not that cold Recent turmoil in international oil and gas markets combined with increasing environmental concerns has helped calm a fever over hydrocarbon development in the Arctic region. Nonetheless, these territories with fragile ecosystems and abundant natural resources attract major players. According to the US Geological Survey, the Artic shelf […]
Russian Gazprom to complete a successful import substitution Two years after the West imposed sanctions, they remain a controversial matter for the Russian economy. While some experts point out the threats of technological isolation, others claim import restrictions are a blessing for domestic industrial production. The oil and gas industry was hit the hardest. The […]