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$17B in New Deals for World’s Largest Gas Field May Indirectly Go to Russia

OilPrice

Its South Pars field spans 3,700 square kilometres and holds an estimated 14.2 trillion cubic metres (tcm) of gas reserves plus 18 billion barrels of gas condensate. Iran has awarded US$17 billion of contracts to attempt to reverse a dramatic projected production decline from the worlds biggest gas reservoir.

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Chevron Field in Israel Allowed to Resume Production

Rigzone

Israeli authorities allowed the Chevron-operated Leviathan natural gas and condensate field to restart production, after ordering a pause about two weeks ago amid Israel's exchange of attacks with Iran.

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ADNOC’s XRG Takes Stake in Offshore Gas Block in Turkmenistan

OilPrice

XRG, the newly created energy investment firm of Abu Dhabis national oil company ADNOC, has taken a 38% stake in a production sharing contract for an offshore block of gas and condensate fields in Turkmenistan. As part of the transaction, XRG and Petronas signed a long-term gas sales agreement (GSA) with Turkmengas.

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Kazakhstan Expects to Top Its Oil Output Plan in Defiance of OPEC+

OilPrice

Kazakhstan is likely to top its oil production plan this year, due to the expansion of the Chevron-led Tengiz field, Kazakhstans Energy Minister Erlan Akkenzhenov said on Friday, in yet another snub at OPEC+ quotas. million tons of crude oil and condensate in 2025, or about 2 million barrels per day (bpd), which would be 9.7%

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OPEC tensions build as Kazakhstan’s oil production hits all-time high

Oil & Gas 360º

Total oil and condensate production rose to 2.15 Most of the increase came from Tengiz—the Chevron-led mega-field—where output surged from 813,200 bpd in May to 953,000 bpd in June. In the first half of 2025, Kazakhstan’s crude oil production (excluding condensates) averaged 1.79 million bpd in June, up from 2.02

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ADNOC Acquires Stake in Turkmenistan Block

Rigzone

ADNOC's XRG acquired a 38 percent stake in the Petronas-operated Block I gas and condensate fields on Turkmenistan's side of the Caspian Sea.

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Kazakhstan can’t make supermajors cut oil production

Oil & Gas 360º

The deal doesnt cover condensate production and has no limits on it. Last week, Akkenzhenov said that Kazakhstan is likely to top its oil production plan this year, due to the expansion of the Chevron-led Tengiz field. million tons of crude oil and condensate in 2025, or about 2 million bpd, which would be 9.7%

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