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Baker Hughes Finally Inks Gas Processing Contract in Southern Iraq
...Oil, amounting to a huge 51.3% of wellhead output (see chart). Yet for Iraq, these poor figures count as something of a success. Total gas flared last year was the lowest since 2014, while the proportion flared is similar to that of 2010. Since then, crude output grew rapidly following contract aw...
Volume: 64Issue: 04Published at Fri, 29 Jan 2021 -
Oman: Blocks 3 & 4 Finish 2019 In Style
...w the partners were not overproducing. Official Omani figures showed the sultanate broadly compliant each month, implying falls elsewhere. The CCED-operated assets have performed strongly in recent years, nearly doubling from 25,000 b/d in 2014. They now account for a sizeable chunk of Oman’s 97...
Volume: 63Issue: 04Published at Fri, 24 Jan 2020 -
Genel Farm-In Boosts Development Prospects At Chevron KRG Blocks
...uple of months before the first well was spudded. Sarta-1 tested at 1,000 b/d of heavy crude from the Jurassic reservoir. A second promising well, Sarta-2 was spudded in July 2013, but it was not enough to keep OMV onboard as the firm relinquished in early 2014 (MEES, 28 February 2014). Chevron was fo...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Oman Rounds Out 2017 With Solid Export Revenue Gains
...ound $61/B. If exports remain at 2017 levels, $61/B would bring in about $18bn in 2018 for oil exports alone versus $15.1bn for 2017. Meanwhile, a $70/B oil price would push oil export revenues north of $20bn for the first time since 2014 and could drive the budget deficit down as low as $750mn (MEES, 5 Ja...
Volume: 61Issue: 04Published at Fri, 26 Jan 2018 -
Output At Key Kurdistan Oil Field Could Fall 60% in 2017
...nel 75% op, KRG 25%) and Bina Bawi (Genel 80% op, KRG 20%) gas fields are also suffering further. The operations update strikes a pessimistic stance regarding progress at the fields in 2017. TAQ TAQ RELEGATED TO SECOND TIER In 2014, Taq Taq was the largest producing field in Iraqi Kurdistan – ou...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
Libya’s NOC To Lift Investment Moratorium; But Divisions Remain
...TAGE Crude output of 715,000 b/d on 22 January was the highest level since November 2014, according to MEES figures. But this level, up from December’s average figure of 600,000 b/d, didn’t last for long. Output subsequently dropped by about 60,000 b/d due to a fire at a substation supplying power to...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
Oman’s Reliance On Chinese Crude Export Markets Deepens
...13 2014 Oil Output 1004 +23 981 1007 -2 +18...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
Post-Sanctions Iran Courts Admirers
...lling to just 1.1mn b/d in 2014, prospects for a major resumption of Iranian imports look slim. However, Mr Rohani met with Eni CEO Claudio Descalzi in Rome on 26 January, and discussions will doubtless have covered resuming purchases of Iranian crude. Eni figures show that the company purchased $74...
Volume: 59Issue: 04Published at Fri, 29 Jan 2016 -
Iran Gas Production Set To Rise While Exports Remain Low
...an’s producing oil fields have decline rates of between 5-8%. Iran therefore needs to utilise enhanced oil recovery (EOR) techniques involving reinjecting natural gas to achieve its oil production targets. Iran injected 31.75 bcm of gas into oil reserves in 2014, down from 35.37 bcm in 2012 and well be...
Volume: 59Issue: 04Published at Fri, 29 Jan 2016 -
Iraq Pledges Higher Oil Exports Despite Market Pressure
...l prices, virtually the country’s only source of revenues. With the economy burdened by excessive spending in 2014, when the government operated without a budget, and given the more than $60/B slide in oil prices since June last year, the Iraqi minister has his work cut out. In addition to tr...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Iraq, Shell Sign For $11Bn Nebras
...bsequently to 7mn t/y. Baghdad’s later Integrated National Energy Strategy envisages 15.6mn t/y by 2030. However, Nebras faces major hurdles besides Iraq’s perilous security situation: BGC’s work is behind schedule (MEES, 10 December 2014); and tumbling oil prices are undermining investment. Shell an...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Oman Targeting Record Oil Output In 2015
...tput from 2014, which at 943,000 b/d was already at a 13-year high. Oman has since mid-2013 been talking up its potential to boost domestic oil production to 1mn b/d, having achieved year-on-year increases in output every year since 2007 (see graph), primarily driven by majority state-owned Pe...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Oman’s Abu Tabul Gas Starts Up
...salination and petrochemicals sectors. Project operator, state-owned Oman Oil Company Exploration and Production (OOCEP), officially inaugurated the field late last week, though production has been running since November 2014. Output, currently at 27mn cfd of gas and 2,500 b/d of condensate, is expected to...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Bid Round Puts Algeria’s New Hydrocarbon Law To The Test
...lumes by end-2013. Maersk says output was 84,000 b/d at end-2013, implying the third of the plant’s three trains had yet to start. Current production is from 53 wells, with a further 27 to be brought onstream with the third train, Sonatrach says. Algeria: Blocks On Offer In 2014 Bid Ro...
Volume: 57Issue: 04Published at Fri, 24 Jan 2014 -
Gas The Priority For Iran’s New Oil Team
...mber of phases,” he explains, opting instead to focus on just one phase at a time, so as to get an incremental 1.8bn cfd boost in as short a time as possible. “This should begin to close the [gas] supply gap,” he says. In this Iranian year (March 2013-March 2014) the state has had to limit gas su...
Volume: 57Issue: 04Published at Fri, 24 Jan 2014