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Kuwait Upstream Capacity Tops 3mn B/d
...pacity back up from 563,000 b/d in 2020 to 700,000 b/d (MEES, 26 July 2024), though capacity will remain below its 2017/18 peak of 760,000 b/d. Also in northern Kuwait, a boost came from heavy oil reserves, with KOC earlier this month stating that capacity here has hit 90,000 b/d from 75,000 b/d in 20...
Volume: 68Issue: 05Published at Fri, 31 Jan 2025 -
Iran Sets New Production Targets As Owji Offers Oil To The World
...rget is a flashback to 2015 when the Joint Comprehensive Plan of Action (JCPOA) was signed and Iran sought to bring foreign firms back into the country. Back then Iran targeted 5.7mn b/d by 2017-18 (MEES, 25 September 2015), but few firms were willing to take the plunge. TECHNICAL & FINANCIAL CH...
Volume: 65Issue: 05Published at Fri, 04 Feb 2022 -
Kuwait Cuts Long Term Targets For Giant Burgan Field
...ude oil and associated gas recovered from the Arifjan, Marat, Minagish Oolite and Burgan Wara sour reservoirs. The EPC for the facility was awarded to British firm Petrofac in March 2017, and the plant was originally due online in mid-2020. Start-up has since been delayed and the latest timeframe an...
Volume: 64Issue: 05Published at Fri, 05 Feb 2021 -
Iraq Breaks From The Past In Fifth Bid Round
...ES, 22 September 2017). The addition of revenue sharing is new to this round, although cost recovery terms still differ from the production sharing agreement model prevalent elsewhere in the region. Still, the majors’boycotting of the licensing round – with the exception of Eni’s optimistic bi...
Volume: 63Issue: 05Published at Fri, 31 Jan 2020 -
Tunisia’s Net Energy Imports Hit Record In 2018
...nual price for Brent crude (see chart 4). Net oil import volumes were actually down a touch thanks to a dip in demand from 2017’s record levels. Whilst in gross terms, Tunisia’s spending on energy imports remains well below the $4bn-plus import bills seen in 2012-14 when crude was largely over $10...
Volume: 62Issue: 05Published at Fri, 01 Feb 2019 -
Eni Discovery Doubles Cyprus Reserves; Is It Enough To Make It A Gas Producer?
...pth, it is a relatively modest 80km from the same company’s Egyptian 24tcf Zohr field, which entered production at the end of 2017 (MEES, 15 December 2017). Eni has regularly touted Zohr as a potential hub for East Med gas development. Eni’s Block 6 find, if confirmed, would be Cyprus’ second gas di...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
Energean Makes Moves In Israel, Still No FID
...en it had reached 3bcm/y of gas sales from the field, which it did by the end of 2017. In December last year local investment group Ofer signed up for 2.6bcm/y of Karish gas, pushing total sales to 4.4bcm/y (see table) but again it baulked at announcing FID, delaying it a further three months (ME...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
KRG To Struggle For Minor 2018 Production Gains
...Reeling from the loss of 280,000 b/d production when Iraqi forces captured key Kirkuk fields in October 2017, the Kurdistan Regional Government (KRG) is unlikely to see sizeable production gains from fields under its control in 2018 threatening IOC payments and potentially fomenting further in...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
Egypt Plots Upstream Revival, If It Can Find The Cash
...,500 b/d for 2017 as a whole with a planned $40mn capex spend. Its receivables had fallen to $14.4mn by September 2016, down from a peak of $216mn in Q3 2014. The firm expects to recoup between $15-$17mn from the sale of 350,000 barrels of oil production in Q1 this year, implying around $45/B, or a $10...
Volume: 60Issue: 05Published at Fri, 03 Feb 2017 -
Is Morocco’s Offshore Boom Over Before It Began?
...nference call. “We are very focused on maturing our Morocco… licenses for 2016 and 2017 drilling,” he adds. However with the firm’s first well offshore Morocco – last April’s FA-1 well in 600ms water depth on the Foum Assaka block offshore Agadir – “fail[ing] to find hydrocarbons in commercial qu...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
ExxonMobil Mum On Abu Dhabi Onshore Plans
...re qualified to bid for the onshore license, where production is set to rise to 1.8mn b/d by 2017. ...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
BP Lays Out Eastern Shift In Global Gas Demand
...rket eastward. In fact, BP sees the US as a net gas exporter as early as 2017. Shale gas production will be one of the key global energy trends through 2035. In the US, shale gas production will likely more than double by 2035 – to 65bn cfd, which will account for 70% of total US gas production. Fo...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014