KNOC to exit Kazakhstan field
Kazakhstan KNOC Kazakhstan
KNOC’s decision follows a disappointing exploration campaign, which kicked off April 2008 and saw drilling activity in 2013 and 2014. “After discovering less oil reserves than expected, we are in discussions with our Kazakhstan counterpart to drop out of the oil field project,” the spokesperson noted. KNOC and its South Korean partners have invested some USD 250 million in the 2,000-square-kilometre field.
KNOC holds a 9.45% share of the 27% Korean interest in the Zhambyl block, which it jointly operates with KazMunayGas.
Recent Posts
Iberdrola to triple offshore wind assets to $18 billion
Spain's Iberdrola plans to triple its offshore wind assets in the coming years, bringing their value to USD 18 billion,… Read More
Angola’s Azule Energy awards Saipem $850-million contract
Saipem has been awarded a USD 850-million contract for subsea works in Angola by local BP-Eni joint venture Azule Energy,… Read More
Arrow Exploration spuds new well in Colombia
Arrow Exploration has spud a new production well on the Tapir block in Colombia’s Llanos Basin, the company announced on… Read More
Petronas makes discovery off Suriname
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japan’s JERA slates $32 billion for LNG, renewables, new fuels
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron planning UK North Sea exit
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More