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New Egypt Gas Projects To Boost Output
...y IOCs for their gas. But this price was increasingly seen as unattractive by IOCs, contributing to a 2011-15 investment hiatus: output had slumped to a 12-year low of 3.891bn cfd by early 2016. Cairo evidently needed to revise terms if it was to re-attract the big firms. It changed the pricing fo...
Volume: 62Issue: 06Published at Fri, 08 Feb 2019 -
Oxy Advances Mena Strategy 2.0
...ploration blocks in November (MEES, 9 November 2018). Prior to that, it hadn’t added to its Mena portfolio in 11 years, since signing up to develop the Shah field in 2011 (MEES, 24 January 2011). The reason for the hiatus was a 2013 decision to move forward with a strategic restructuring aimed at st...
Volume: 62Issue: 06Published at Fri, 08 Feb 2019 -
Algeria Oil Output On The Slide
...ng-term decline, collective output is the lowest since El Merk’s first full year of output in 2014 (see chart). At just 174,000 b/d for 2018, combined HBNS and Ourhoud output is half 2011 levels and a mere 31% of the 470,000 b/d 2007 figure. Anadarko says the completion of a water treatment pr...
Volume: 62Issue: 06Published at Fri, 08 Feb 2019 -
Sudan, South Sudan Claim Oil Production Boon, But How Much?
...OC), a consortium of China National Petroleum Corporation (CNPC), Malaysia’s Petronas and ONGC Videsh (all state-owned) and local firm Nilepet. Since South Sudan’s independence in July 2011, GPOC has been responsible for operating those parts of Blocks 1, 2 and 4 that lie south of the border with Su...
Volume: 62Issue: 06Published at Fri, 08 Feb 2019 -
IMF: Praise, $2bn For Egypt
...rong remittances, while unemployment has declined to its lowest level since 2011.” A combination of “the authorities’ fiscal consolidation efforts and high nominal GDP growth” means Egypt’s public-debt-to-GDP ratio “declined markedly” from 103.2% for 2016-17 to 92.6% for 2017-18 and a forecast 86...
Volume: 62Issue: 06Published at Fri, 08 Feb 2019