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Apache Looks To Egypt Growth Following Contract Modernization
...5,000 b/d for 2022 and average growth of 8-10%/year out to 2025, hitting 190,000 b/d by the latter date. This would still be below output every year for 2011-2019, however, whilst for gas the news is less good with output merely “expected to remain relatively stable at 550-600mn cfd.” Stable that is with th...
Volume: 65Issue: 01Published at Fri, 07 Jan 2022 -
Majors Write Off $69bn in Year To Forget
...s’ (MEES, 13 June 2011). Exxon was not the only firm seen (with hindsight) to have overpaid. BP’s Q2 write-offs were heavily gas focused, including US shale gas assets acquired from Australia’s BHP Billiton in a $10.5bn 2018 deal. The $70bn that Shell paid for UK gas-focused firm BG in a 2015 deal al...
Volume: 64Issue: 01Published at Fri, 08 Jan 2021 -
Egypt Bags Major Investment In Frontier Areas
...stern neighbor Libya (see p5). The other seven blocks garnered no bids. These include Block 2, the northernmost of the coastal blocks on offer and the only one to have seen significant past exploration – US firm Hess drilled a duster in 2011. All bidders were given access to 2D seismic shot across th...
Volume: 63Issue: 01Published at Fri, 03 Jan 2020