Iran has discovered a natural-gas field in the Caspian Sea, the Ministry of Petroleum’s news website Shana reported, citing Oil Minister Rostam Qasemi.
A probe into the cause of a leak at Kazakhstan’s largest oilfield depends on inspection of offshore installations that has to wait until ice melts on the Caspian Sea, one of the partners in the project said.
Total SA, Europe’s third-biggest oil company, has made a “major” natural gas discovery in the Caspian Sea off Azerbaijan that may boost supplies of the fuel pumped to the European Union.
OAO Lukoil , Russia’s second-largest oil producer, is set to boost profit from deposits in the Caspian Sea after the government extends tax breaks to oil produced there starting next year.
Chevron Corp., which leads Kazakhstan’s biggest oil exporter, will build a shipyard on the central Asian country’s Caspian Sea, President Nursultan Nazarbayev said.