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KMG EP Moves To Ease Zhanaozen Crisis
...CASPIAN KMG EP Moves To Ease Zhanaozen Crisis KMG EP, the upstream arm of Kazakh state oil and gas firm KazMunaiGaz (KMG), announced on 9 January that it had decided to establish two new subsidiaries that will re-employ the majority of the 2,000 oil workers laid off since June 2011, wh...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Turkmen President Again Replaces Turkmengaz Chairman
...rough BTC Almost Doubled In 2011 The Socar Trading subsidiary of the State Oil Company of Azerbaijan Republic (Socar) announced last week that Turkmen oil exports via the Baku-Tbilisi-Ceyhan (BTC) pipeline had almost doubled in 2011 compared with 2010, to 2.24mn tons. The company added that Tu...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Cyprus And Israel Sign Defense Cooperation Agreements
...e exchange of classified information. Relations between the two countries have become steadily closer over the last year since a proposal was made a year ago by Israel’s Delek Group that a joint LNG facility be created on the island’s southern coast (MEES, 17 January 2011). The Delek proposal fo...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Tamar Partners Sign Gas Sales Contracts
...cember 2011). In its 15 December statement, the IEC said: “As long as only one gas pipeline connecting the production rig and transmission system exists, the company shall purchase only limited quantities of natural gas from the Tamar partners, in order to enable other customers to purchase gas from th...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Noble To Resume Work On Leviathan-1 Well In Search Of Crude
...ock 12 in the Cyprus exclusive economic zone (EEZ). Noble announced on 28 December the discovery of 7 trillion cu ft of natural gas at the Aphrodite field in Block 12, a year after Noble made a discovery of 16 tcf (now revised to 17 tcf) in Leviathan on the Rachel block (MEES, 3/10 January 2011). In it...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Jordan Considers More Targeted Subsidies For Basic Items
...t happen in the near future. This could force the government to lift subsidies on electricity and water for high consumers in society. He explained that the 2012 budget is projecting foreign aid of JD870mn ($1,227mn), compared to JD 1,196mn ($1,686mn) in 2011, and warned that should this aid fall be...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Oman’s 2012 Budget Maintains High Level Of Social Spending
...frastructure. The budget, approved by Royal Decree 1/2012 issued by Sultan Qabus on 2 January, is based on an oil price assumption of $75/B, up 29.3% on $58/B for 2011, and average oil production of 915,000 b/d. Announcing details of the budget in a press conference, Oman’s Minister for Financial Affairs Da...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
'Abd Allah Al-'Attiyah Accorded Rank Of Prime Minister
...nuary 2011, when he was appointed Head of the Ruler’s court (Amiri Diwan), while remaining Deputy Prime Minster in Qatar (MEES, 24 January 2011). More recently, on 29 December 2011 he was also appointed Chairman of the Administrative Control and Transparency Authority, a new entity which was set up to co...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Ex-Im Bank Approves $638Mn For Qurayyah IPP
...rea. This is the second IPP that Ex-Im Bank has financed in Saudi Arabia. Hajr for Electricity Production Company is 50:50 owned by the project developers and SEC. Saudi company ACWA signed an agreement on 21 September last year with SEC to develop Qurayyah (MEES, 26 September 2011). Originally co...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
RAK Petroleum And DNO International Complete Merger
...troleum as consideration for the merger, increasing the Emirati firm’s shareholding in the Norwegian company from 30% to 42.8%. This merger, however, did not proceed without a share of drama. Oslo-based Petrolia made a bid on 7 November 2011 to buy up to 33.3% in DNO International’s outstanding shares at...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Attack Halts Production At Hunt-Operated Oil Field In Yemen
...thority (PEPA). This is the latest in a long line of tribal attacks on the war-torn country’s oil infrastructure this year, with one oil executive telling MEES earlier this month that “OMV’s pipeline [from its 15,000-20,000 b/d S2 block] has been attacked 13 times since October [2011].” And with Pr...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Yemen LNG Meets Supply Targets For 2011 Despite Balhaf Attacks
...YEMEN Yemen LNG Meets Supply Targets For 2011 Despite Balhaf Attacks Yemen LNG successfully delivered all of the liquefied natural gas (LNG) it had committed to supply in 2011, despite an attack on a key gas pipeline in October last year, and is planning this year to export as much LN...
Volume: 55Issue: 03Published at Mon, 16 Jan 2012 -
Tethys Wins Approval For Doris Production Program
...ris oil discovery on the Akkulka block. The approval allows Tethys to install production facilities for the planned 3,000-4,000 b/d production target for the second quarter of 2011. Currently the company is producing 750 b/d of oil from Doris under a test production permit. Once the pilot program is...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Khanaliyev Appointed Turkmengaz Chairman
...800ms, one in Keimir oil field to a depth of 4,500ms, and two in the Ekerem oil field to a depth of 3,800ms. Ria Novosti reported that the value of the contract is $32.95mn and that the work program is expected to run from June 2011 to February 2012....
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Dragon Completes Testing Of Dzheitune Development Well
...illed to a depth of 3,512ms and flowed 2,656 b/d of oil. The drilling rig will be moved to drill Dzheitune 28/152, the third development well of an 11-well program planned for 2011. A second development well, Dzheitune B/150, is currently being completed and is scheduled to undergo production te...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Jordan’s Economic Growth Projected To Reach 4.25% In 2011, IMF Says
...Middle East Economic Survey VOL. LIV No 3 17-Jan-2011 Jordan Jordan’s Economic Growth Projected To Reach 4.25% In 2011, IMF Says Real economic growth in Jordan is likely to rise further to 4.25% over the coming year, after posting a growth figure of 3.5% for 2010, the IMF sa...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Energy Minister Joins Lebanon Cabinet Exodus
...ploration in the Lebanese offshore (MEES, 20 December 2010). The ministry held a first workshop on procedures for the implementation of the oil and gas law and was planning a second workshop in February 2011 (MEES, 29 November 2010). Mr Basil also expected that Lebanon would launch its first offshore li...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Middle East Power Projects To Regain Momentum In 2011, Says Frost & Sullivan
...Middle East Economic Survey VOL. LIV No 3 17-Jan-2011 REGIONAL Middle East Power Projects To Regain Momentum In 2011, Says Frost & Sullivan New power generation projects in the Middle East region are expected to regain lost traction in 2011 since demand is projected to nearly do...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Islamic Financial Institutions At A Crossroads, Ernst & Young Say
...Middle East Economic Survey VOL. LIV No 3 17-Jan-2011 REGIONAL Islamic Financial Institutions At A Crossroads, Ernst & Young Say Islamic financial institutions are at a crossroads entering 2011, Ernst & Young said on 9 January. The industry will continue to be resilient in th...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011 -
Government Spending Driving Saudi Economic Growth In 2011, Says Jadwa
...Middle East Economic Survey VOL. LIV No 3 17-Jan-2011 SAUDI ARABIA Government Spending Driving Saudi Economic Growth In 2011, Says Jadwa The Saudi economy is expected to strengthen in 2011. Economic performance will improve though it will remain driven by government sp...
Volume: 54Issue: 03Published at Mon, 17 Jan 2011