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Shah Deniz-2 partners selected TAP over Nabucco The Shah Deniz-2 partners, BP from UK, Total from France and the State Oil Company of Azerbaijan (SOCAR) have preferred the Trans-Adriatic Pipeline (TAP) project over Nabucco to export their natural gas from Azerbaijan to Europe. At the scale of these giant projects, TAP offers the shortest and simplest […]

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Tackle each challenge with safe, reliable and innovative solutions Headquartered in San Donato Milanese, next to Milano in Italy, Saipem is a subsidiary of the Italian national oil company ENI S.p.A. (ENI) operating in the engineering and contracting services. Previoulsy wholly owned, ENI floated 57% of the shares in 1984 in Milan Stock Exchange. Initiated in […]

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Harness natural energy resources for human benefit In 1991, the Russian Government published the decree to establish the Langepas Uray Kogalymneft Petroleum Corporation. In 1993, the Langepas Uray Kogalymneft Petroleum Corporation was transformed in open joint stock company under the name of Lukoil Oil Company. Today, Lukoil is listed in London Stock Exchange with the capital dominantly […]

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An international oil and gas company  Based in Vienna, OMV Aktiengesellschaft  (OMV) is one of Austria’s largest listed industrial companies with 29,800 employees in 2011 Historically, OMV is an integrated upstream–midstream–downstream company with activities mostly concentrated in Europe. Upstream, OMV explore and produce oil and gas in Romania and Austria and holds working interests all […]

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Shah Deniz consortium decided to commence Front End Engineering and Design (FEED) Shah Deniz Stage 2, or Full Field Development (FFD), is a giant project that will bring gas from Azerbaijan to Europe and Turkey. This will increase gas supply and energy security to European markets through the opening of the new Southern Gas Corridor. […]

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Russian tax incentive unlock foreign investments The key factor that prompted the companies to sign the agreement was the steps taken by the Government of the Russian Federation to introduce tax incentives for offshore production, including cancelling export duties and introducing a reduced Mineral Extraction Tax rate of 5-15% depending on project complexity. The Russian Government also offered guarantees that the favourable tax regime will remain in […]

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