Business Overview

Nobel Upstream currently has two non-operated production businesses in its portfolio and is actively reviewing additional acquisition opportunities and partnerships in specific regions.

 

  • Nobel Upstream is a partner with SOCAR (State Oil Company of Azerbaijan Republic) in a large natural gas and condensate field in offshore Azerbaijan, through the Socar-UMID Joint Venture.
  • In March 2014, Nobel Upstream acquired a large acreage position in the Permian Basin in Texas and commenced first production from both conventional and unconventional reservoirs.
  • Through its US subsidiary (Nobel Upstream North America), drilling operations in the Permian Basin began in June 2014.
  • Nobel Upstream is currently reviewing additional acquisition opportunities in the UK (North Sea), Russia and other countries in the Caspian region.
  • The Nobel Upstream Management Team is made up of senior managers who have worked for such companies as BP, Shell, Hess and Schlumberger. In addition to the company’s headquarters in London, there are technical and commercial teams based in Baku, Azerbaijan and Houston, Texas.