Tag Archives: British Petroleum Co. (BP)

Big Oil’s Spending Plans for 2022

The global upstream sector is set for a rebound next year, when overall investment in exploration and production is expected to exceed $400 billion for the first time in three years. Yet, despite record high cash flows and oil at over $70 a barrel, reinvestment rates will stay at near …

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Lukoil to Acquire Caspian Sea Interest from BP

PJSC Lukoil agreed to acquire a 25% participating interest in the Shallow Water Absheron Peninsula (SWAP) exploration project in the Azerbaijan sector of the Caspian Sea from bp. The SWAP project area, south of the Absheron peninsula, lies in water depths up to 40 m. In 2016, a 3D seismic …

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