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{{Infobox company
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| name = Nobel Oil Service <ref>{{cite web|title=Our Business (1st line)|url=http://www.nobeloil.com/Our-Business.aspx|website=Nobel Oil}}</ref>
| name = Nobel Oil Group
| native_name =
| native_name =
| native_name_lang = <!-- Use ISO 639-1 code, e.g. "fr" for French. Enter multiple names in different languages using {{tl|lang}}, instead. -->
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| image = Nobel Oil Group building.jpg
| image = Nobel Oil Group building.jpg
| image_caption = Office building in [[Baku]], where located Nobel Oil Group.
| image_caption = Office building in [[Baku]], where located Nobel Oil Service.
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The '''Nobel Oil Group''' is a [[corporate group]] operating primarily in the [[Republic of Azerbaijan]],USA, UK as well as in Romania. Registered in the UK, The Group provides integrated operating services within the oil and gas sector and is also developing its exploration and production capabilities.
The '''Nobel Oil Service'' <ref>{{cite web|title=Our Business(1st line)|url=http://www.nobeloil.com/Our-Business.aspx|website=Nobel Oil}}</ref>' is a [[corporate group]] operating primarily in the [[Republic of Azerbaijan]],USA, UK as well as in Romania. Registered in the UK, The Group provides integrated operating services within the oil and gas sector and is also developing its exploration and production capabilities.


== History and development ==
== History and development ==
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==Services==
==Services==


Nobel Oil has a number of services carried out by different subsidiaries of their company.<ref name="Nobel Oil">{{cite web|title=Our Business|url=http://www.nobeloil.com/Our-Business.aspx|publisher=Nobel Oil|accessdate=31 March 2015}}</ref>
Nobel Oil Service <ref>{{cite web|title=Our Business,1st line|url=http://www.nobeloil.com/Our-Business.aspx|website=Nobel Oil}}</ref> has a number of services carried out by different subsidiaries of their company.<ref name="Nobel Oil">{{cite web|title=Our Business|url=http://www.nobeloil.com/Our-Business.aspx|publisher=Nobel Oil|accessdate=31 March 2015}}</ref>


*Absheron Qazma: Provides integrated drilling and well management services. Such services include well design and planning, drilling operations, casing string design, well completion, well workover and more.
*Absheron Qazma: Provides integrated drilling and well management services. Such services include well design and planning, drilling operations, casing string design, well completion, well workover and more.

Revision as of 13:19, 16 January 2017

Nobel Oil Service [1]
IndustryOil and Gas
FoundedBaku, Azerbaijan (2005 (2005))
Headquarters
Baku
,
Azerbaijan
Number of locations
2- Baku, Azerbaijan and London, England
Area served
Azerbaijan, Romania, UK, USA
Key people
Nasib Hasanov (founder and owner), Ali Batu
(CEO)
ServicesTechnical service provider for the oil industry
RevenueUndisclosed
Undisclosed
Undisclosed
OwnerNasib Hasanov
Websitewww.nobeloil.com

The 'Nobel Oil Service [2]' is a corporate group operating primarily in the Republic of Azerbaijan,USA, UK as well as in Romania. Registered in the UK, The Group provides integrated operating services within the oil and gas sector and is also developing its exploration and production capabilities.

History and development

Nobel Oil Ltd was originally established in 2005[3] by Nasib Hasanov[4] as a technical service provider, offering services to the oil and gas industry in the Caspian region. These include wells’ work over, drilling, installation, construction, engineering and maintenance, repair and operations services.[5] Nobel Oil Ltd. has two shareholders: Allendorf SA (1%) and Technogas LTD (99%).[6] The holding company Nobel Oil Ltd. is legally registered as an offshore company in St. Kitts and Nevis,[7] as well as in the United Kingdom.[8] Nobel Oil (UK) Ltd. comprises at least seven subsidiaries: Nobel Oil Investment (UK) Ltd., Nobel Oil Services (UK) Limited, Nobel Oil E&P North Sea Limited, Nobel Oil E&P (UK) Limited, Nobel Oil E&P Caspian Limited, Nobel Oil E&P Management (UK) Limited, and Nobel Oil E&P North America (UK) Limited.[9]

Nasib Hasanov is also the owner of Nobel Upstream, engaged in oil and natural gas projects in Azerbaijan and Texas, United States. 2016 Nobel Upstream made an investment in the UK North Sea, buying a 7.59% stake in the Maclure oil field from Shell Oil.[10] Royal Dutch Shell sold North Sea oil field, in a transaction with UK Nobel Upstream for an undisclosed fee.[11] Later, Nobel Upstream’s CEO Jeremy Huck resigned; no farewell statement or reason was issued by the Group.[12]

Nobel Upstream is the majority shareholder of a large acreage position in the Permian Basin (North America). With its operating partner Three Span Oil & Gas, Nobel Upstream started producing oil and gas in August 2014.[13]

Owners and top management

Nasib Hasanov, an Azerbaijan-born businessman, is the founder and owner of Nobel Oil Group, registered in St. Kitts and Nevis. Ali Batu is the Chief Executive Officer (CEO).[14]

Development of Umid gas field

Main article: Umid gas field

Since 2008, the Group has been developing its exploration and production capabilities through its participation in the exploration of the Umid offshore gas-condensate field located 75 kilometres south of the Azerbaijani capital, Baku.[15]

The Umid offshore gas-condensate field is in the water depth range 40 – 80 m. It is being explored under the agreement between SOCAR and Nobel Oil Exploration and Production Ltd. The Parties have following participating interests in the Umid project: SOCAR – 80%, Nobel Oil Exploration and Production Ltd. – 20%.[16]

President Ilham Aliyev of Azerbaijan placed strong hopes in development of the Umid gas field, remarking in 2010, "This field has a great future."[17] He made similar comments in 2012.[18]

The joint venture with Nobel Oil Group has drilled three wells in the Umid gas field since 2012. One well failed, while the other two produced decreasing amounts of natural gas: in 2012 – 1,500 thousand cubic meters of gas, 2013 – 638,000 cubic meters, and in 2014 - 630,000 cubic meters of gas per day. The plan was to drill a total of six wells, producing one million to 1.5 million cubic meters of natural gas per day.[19][20]

But, as of October 2014, Nobel Oil Group and its partner decided to stop all drilling due to "technical problems in the production process."[21] They announced a new international tender for a foreign partner to lead the way and create a new strategy.[22][23] As of January 2016, they have not received such a tender.

Since March 2015 Nobel Oil Group and its partner decided to drill a new appraisal well to get a better estimate of gas reserves in Umid; they hope that this drilling expense will be absorbed by the future foreign partner.[24][25] The Nobel Oil Group and its partner require the new foreign partner to have not only the skills and experience of deep-water offshore drilling, but also have available cash reserves.[26]

According to analysts, the Umid ("Hope") gas field was too technologically challenging for the two companies developing it, despite their spending some $5 billion USD already by 2010. Given that this was a period of high gas prices, they projected about $45 billion in net operating income.[27] Since 2010 expenses have increased whilst natural gas market prices have fallen.[28]

Services

Nobel Oil Service [29] has a number of services carried out by different subsidiaries of their company.[30]

  • Absheron Qazma: Provides integrated drilling and well management services. Such services include well design and planning, drilling operations, casing string design, well completion, well workover and more.
  • Glensol Nobel: Provides equipment maintenance services, typically to customers in Azerbaijan’s energy industry.
  • Oil and Gas Proserve: Provides well intervention and enhanced oil recovery services.
  • Prokon: Offers project management services.
  • LLamrei: Offers procurement, logistics and warehouse activities.
  • Nobel Oil Downstream: Nobel’s retail gasoline service stations in Romania.

References

  1. ^ "Our Business (1st line)". Nobel Oil.
  2. ^ "Our Business(1st line)". Nobel Oil.
  3. ^ "Azerbaijan 2020". Foreign Affairs Magazine. 94: 8. Jan–Feb 2015.{{cite journal}}: CS1 maint: date format (link)
  4. ^ "Azerbaijani oil company acquires stake in UK field from Shell". intellinews.com. February 12, 2016. Retrieved 30 December 2016.

    Nobel Upstream, a UK company “with a best practice governance framework and sound risk management and internal control systems”, is owned by Nasib Hasanov, a “private oil and gas entrepreneur and philanthropist” from Azerbaijan, who is the sole shareholder of the Nobel Upstream group and Nobel Oil Services group of companies...
  5. ^ "About Company". Nobel Oil. Archived from the original on 11 September 2014. Retrieved 22 July 2014.
  6. ^ "Nobel Oil (UK) LTD". ICP. Retrieved 20 December 2016.
  7. ^ "Credit report, last updated on 14 April 2015". ICP. Retrieved 16 December 2016.
  8. ^ "MadeSimple, last updated on December 2015". Retrieved 17 December 2016.
  9. ^ "MadeSimple,last updated on 22 December 2015". companycheck.co.uk.
  10. ^ "Azeri Oil Baron Takes His First Stake in the UK North Sea". Energy Voice. Retrieved 11 February 2016.
  11. ^ "Offshore Post,last updated 29 November 2016". www.offshorepost.com.
  12. ^ "MADE SIMPLE, last updated on 20 November 2016". Company Check.
  13. ^ "Nobel Upstream,last updated on October 2016". Nobel Upstream.
  14. ^ "bne intellnews, last updated in 21 December 2016". BNEIntellnews.
  15. ^ "SOCAR set up a joint venture with Nobel Oil for works at Umid field". Bank of Baku.
  16. ^ "SOCAR Umid LLC". SOCAR. Retrieved 14 December 2016.
  17. ^ "Месторождение "Умид" увеличит газовый потенциал Азербайджана - президент". Azertaj. Retrieved 30 December 2015.
  18. ^ "President Ilham Aliyev speech (09.10.2012)". Government of Azerbaijan. Retrieved 30 December 2015.
  19. ^ "На морском газовом месторождении "Умид" сдана в эксплуатацию новая высокодебитная скважина (Бахрам Рустамбеков, В.Т.)". 1news.az. Archived from the original on 30 January 2014. Retrieved 30 January 2014. {{cite web}}: |archive-date= / |archive-url= timestamp mismatch; 4 April 2014 suggested (help)
  20. ^ "IN THE PIPELINE". thebusinessyear.com. 2014. Retrieved 16 December 2016.
  21. ^ "Azerbaijan's SOCAR issues tender for two Caspian Sea gas deposits". REUTERS. Retrieved 10 September 2015.
  22. ^ "SOCAR отказалась от бурения новых скважин на газоконденсатном месторождении Умид". ABC.az. Retrieved 9 October 2014.
  23. ^ "МЕСТОРОЖДЕНИE "УМИД" ОКАЗАЛСЯ SOCAR НЕ ПО СИЛАМ?". Haqqin.az. Retrieved 10 September 2014.
  24. ^ "SOCAR продолжает буровые работы на месторождении Умид". 1News.az. Retrieved 14 October 2015.
  25. ^ "SOCAR возобновляет бурение на месторождении Умид". Interfax. Retrieved 11 March 2015.
  26. ^ "SOCAR объявила тендер на совместную разработку газовых месторождений на Каспии". Caspian Oil & Gas. Retrieved 15 September 2014.
  27. ^ "Umid gas field to bring $45bn of net income, expert (by Akper Hasanov, 06 December 2010)". News.az. Retrieved 30 December 2015.
  28. ^ "SOCAR'S GAS EXPORT PRICE PLUNGES BY CUTTING DELIVERIES TO RUSSIA". Azerbaijan Centre for Oil Studies. Retrieved 21 January 2015.
  29. ^ "Our Business,1st line". Nobel Oil.
  30. ^ "Our Business". Nobel Oil. Retrieved 31 March 2015.

Official website

Retrieved from "https://en.wikipedia.org/w/index.php?title=Nobel_Energy&oldid=760353918"