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Oman Gas Output Surges To Record 54.5bcm For 2024 With Further Expansions Eyed
...e single largest addition to upstream gas output since BP’s massive 1.5bn cfd Khazzan gas field started in 2017. Indeed, the gains at Mabrouk North East – whose output averaged 480mn cfd for 1H 2024 – were more than those for Oman overall, implying that output was cut at other gas fields to make sp...
Volume: 68Issue: 04Published at Fri, 24 Jan 2025 -
BP Spuds Egypt Well As Shell Eyes Higher WDDM Gas Price
...fshore infrastructure was sparse. But that has since changed with BP developing WND which came online from early 2017 (MEES, 12 May 2017). BP’s WND facilities have 1.4bn cfd of gas processing capacity, so there will still be 800mn cfd spare even after the two recent Raven wells are brought online. An...
Volume: 68Issue: 04Published at Fri, 24 Jan 2025 -
Trump’s Twin Desires: Energy Dominance & Low Prices
...rst term started in 2017. The year prior to his first term, liquids exports of 5.26mn b/d were well behind Saudi Arabia and Russia, but they have since doubled and have been running at more than 10mn b/d for the last two years. The US overtook Saudi Arabia in 2020 to seize the crown as the world’s la...
Volume: 68Issue: 04Published at Fri, 24 Jan 2025 -
Qatar Awards $6bn Contracts In Bid To Restore Al Shaheen Oil Capacity
...e blockade instituted against it in 2017 (MEES, 7 December 2018). Since then, Qatar has pursued an independent crude output policy. Back in 2020 when Opec+ producers made deep cuts Qatar continued supplying the market with its medium-sour crude, capitalizing on the price boost of Opec+ cuts wi...
Volume: 67Issue: 04Published at Fri, 02 Feb 2024 -
Oman Hits Record Gas And Condensate Output For 2023
...tput increases (see chart 1). The biggest gains came with the 2017 start-up and subsequent expansion of the huge Khazzan tight gas field on Block 61 (BP 40%op, OOC 30%, PTTEP 20%, Petronas 10%: MEES, 7 July 2023). Gas sector momentum shows signs of continuing into 2024, with international companies pu...
Volume: 67Issue: 04Published at Fri, 26 Jan 2024 -
Oman Oil Output Back Above 1mn B/D
...0,000 b/d for the first time in June 2020 it has stayed well above that mark ever since. Essentially, Oman is capitalizing on the December 2019 decision by Opec+ to bring the non-Opec cohort in line with Opec and exclude their condensate production from the cuts (MEES, 6 December 2019). Between January 2017...
Volume: 65Issue: 04Published at Fri, 28 Jan 2022 -
KRG: Key Fields Set For 2020 Gains
...ate firm Taqa 47.4%op, Canada’s Shamaran 27.6%, KRG 25%) and the Sarsang license (HKN 62%, Total 18%, KRG 20%). Atrush is the newest producing field in Kurdistan, with production only beginning in 2017. It has swiftly become a key producer, and output rose to a record 32,000 b/d last year. This wa...
Volume: 63Issue: 04Published at Fri, 24 Jan 2020 -
Oman: Blocks 3 & 4 Finish 2019 In Style
...ocks’ partners, it has to be noted that this comes while Omani output was capped at 970,000 b/d under the Opec+ agreement. Under the initial round of cuts in 2017-18, the blocks’ output was capped at 41,000 b/d (MEES, 20 January 2017), and while the cap was increased minimally in 2019, it is hard to see ho...
Volume: 63Issue: 04Published at Fri, 24 Jan 2020 -
Lebanon’s Gas Hopes Kicked Further Down The Road
...other extended political vacuum, the likes of which have had devastating consequences in recent years. Dysfunctional politics was a key reason why the country’s inaugural bid round-launched to considerable IOC fanfare in 2013 (MEES, 17 May 2013) – didn’t see contracts awarded until late 2017 (see ti...
Volume: 63Issue: 04Published at Fri, 24 Jan 2020 -
GCC Gas Integration: More Than Just A Pipe Dream?
...rough a 2bn cfd pipeline. Flows have continued despite the onset of the Qatar embargo in June 2017, with Dolphin reporting exports of 2bn cfd in 2017 (MEES, 9 June 2018). Rates have stayed flat in 2018. The rationale for gas integration has long been clear. Qatar and Oman aside, the GCC countries have fa...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Genel Farm-In Boosts Development Prospects At Chevron KRG Blocks
...0,000 b/d Tawke license (DNO 75%op, Genel 25%) has fared better. In Chevron, Genel gains a world class partner whose technical expertise could perhaps help avoid geology-related declines that have previously plagued Genel (MEES, 31 March 2017). “We are delighted to have been chosen as a partner to Ch...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Baghdad: KRG Budget Overture
...Iraq’s 2019 budget, passed by parliament 24 January, formalized the central government’s payments to KRG state workers and Peshmerga forces, further affirming the thawing relations between Baghdad and Erbil after the KRG’s ill-fated 2017 independence referendum (MEES, 29 September 2017). “Th...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Bahrain Looks To Parlay Upstream Potential Into Downstream Riches
...an leads the way with its 1bn cfd BP-operated Khazzan tight gas field (MEES, 29 September 2017). Meanwhile, Abu Dhabi awarded Total a contract to develop the Ruwais-Diyab unconventional gas concession in November 2018 (MEES, 23 November 2018). Most pertinently, Saudi Arabia is developing the nearby Ja...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Algeria State Oil Chief Strikes Conciliatory Tone
...tput,” said Mr Ould Kaddour. Two other significant deals were signed in the closing weeks of 2017. On 20 December Sonatrach signed a $500mn deal with its two partners on the 9bcm/y In Amenas gas field, the UK’s BP and Norway’s Statoil. The agreement, designed to extend commercial production to 2035, wi...
Volume: 61Issue: 04Published at Fri, 26 Jan 2018 -
GCC Dependence On LNG Imports Deepens
...Kuwait’s 5.4mn t/y (725mn cfd) Golar Igloo floating storage and regasification unit (FSRU) is currently moored offshore Dubai as it awaits routine maintenance during its scheduled downtime. It’s in need of a thorough checkup after being put through its most rigorous year-to-date in 2017, when it...
Volume: 61Issue: 04Published at Fri, 26 Jan 2018 -
Oman Rounds Out 2017 With Solid Export Revenue Gains
...Despite a ninth straight budget deficit, 2017 was a decent year for Oman energy. Exports held steady, revenues ticked up, and products output broke records. Despite crude and condensate output falling 34,000 b/d in 2017, and exports dropping 75,000 b/d to 806,000 b/d, Oman’s upstream se...
Volume: 61Issue: 04Published at Fri, 26 Jan 2018 -
Output At Key Kurdistan Oil Field Could Fall 60% in 2017
...Anglo-Turkish firm Genel suffered an annus horribilis in 2016 and a trading update released this week suggests things are only going to get worse in 2017. Genel confirmed this week that average output from its flagship Taq Taq field (Genel 44% op, Sinopec 36%, KRG 20%) fell 48% last year to...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
Libya’s NOC To Lift Investment Moratorium; But Divisions Remain
...nuf terminal. Switzerland-based oil trader Glencore is the only company with a contract to lift crude from Hariga, having signed an exclusive 18-month deal with NOC to ship the sweet Mesla and Sarir grades from the second half of 2015. The deal is up for renewal, MEES understands. NOC’s 2017 pr...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
Oman’s Reliance On Chinese Crude Export Markets Deepens
...st year, oil field consumption grew 0.4bcm. The 1bn cfd phase one development of the Khazzan gas field by BP is scheduled for completion in late 2017. This alone is set to raise annual production by around 10.3bcm, which ought to satisfy domestic demand growth until the planned 500mn cfd (5....
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
Iraq Pledges Higher Oil Exports Despite Market Pressure
...r production capacity of 8.5-9mn b/d by 2017, having already lowered its sights from the initial target of over 13mn b/d when the first oil auction was launched at end 2009. Mr ‘Abd al-Mahdi said after meeting Turkish Energy Minister Taner Yildiz in Baghdad, that SOMO would export 375,000 b/d th...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015