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Shell Plans To Double Egypt Output By 2030
...om 50-70ms and was drilled a total of three times by BP between 1999 and 2014. The field could hold up to 1.4tcf, but BP still walked away in 2019 (MEES, 5 April 2019). Its proximity to Shell’s now depleted Rosetta field should provide a relatively cost-effective tie-back option for development. Th...
Volume: 69Issue: 06Published at Fri, 06 Feb 2026 -
Chevron’s Neutral Zone Operations Return To Growth
...uck around in the PNZ despite a rocky recent history there. Kuwait was unhappy that it wasn’t consulted when Saudi Arabia renewed the operating agreement with SAC for 30 years in 2009. Grievances over management of the PNZ came to a head in 2014/15 when the offshore and onshore portions were shut-in, on...
Volume: 69Issue: 06Published at Fri, 06 Feb 2026 -
Oman Launches 2025 Bid Round With Three Onshore Blocks
...set in 2012 and 2014 but failed to sign anyone up (MEES, 8 August 2014). One previous exploration well “failed to reach the target” according to the ministry, but “active hydrocarbon seepage found in the block” supports the likelihood of a “working petroleum system.” The ministry also claims it is su...
Volume: 68Issue: 06Published at Fri, 07 Feb 2025 -
Majors Outspend Capex Targets Amid Record Profits
...y of $100/B. But they were higher over the years to 2014. The big change since then has been that capital spending remains restrained. The five firms’ total 2022 outlay of $95.6bn was less than half 2013’s $195.5bn, meaning much plumper margins (see chart). All five firms, nevertheless, su...
Volume: 66Issue: 06Published at Fri, 10 Feb 2023 -
Tethys Eyes Modest 2022 Rebound As EOG Walks From Block 49
...pex to $91mn for 2022, up from $35.2mn for 2021. Not just is this significantly above last year’s pandemic-hit capex figure, but it is significantly higher than in 2014 before the initial oil price downturn (see chart 2). The capex will be front-loaded. This investment surge is being funded by la...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Libya’s Noc Eyes Algeria Border Fields Potential
...natrach on 10 February signed an MoU in Tripoli that “aims to resume Sonatrach’s activities in Libya in order to fulfill its contractual obligations and begin to develop the discovered fields.” Sonatrach was forced to abandon its exploration activities on the Libyan side of the Algeria-Libya border in 2014...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Qatar Seizes Golden Opportunity For US Cooperation
...C) contract for the project, with work to start this quarter. Chiyoda and McDermott previously carried out FEED work under a 2014 contract. Chiyoda has also been heavily involved in the ongoing development of Qatar’s LNG sector. Work includes the construction of three liquefaction trains of ap...
Volume: 62Issue: 06Published at Fri, 08 Feb 2019 -
Major Threat For Opec With Offshore Exploration Boom
...hlumberger CEO Paal Kibsgaard told his 19 January earnings call. LONG TERM: DEEPWATER FOCUS Mexico’s latest bid round last week was by far the most successful since the country opened up its upstream to international investment in 2014. Total investment commitments were $93bn with 19 of 29 de...
Volume: 61Issue: 06Published at Fri, 09 Feb 2018 -
Total Still Leads The Pack On UAE’s Adco Concession
...ell, like BP and ExxonMobil, have reported lower production in 2014, due to the loss of their 9.5% stake in the lapsed Adco concession. ADCO HIT Shell’s overall production averaged 3.1mn barrels of oil equivalent per day (boe/d) in 2014, down 100,000 boe/d on the year, partly due to the expiry of...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
ADCO: BP Expects No DecisionFor At Least A Year
...UAE ADCO: BP Expects No DecisionFor At Least A Year BP, like ExxonMobil, has written off 140,000 b/d of production from the loss of its onshore Abu Dhabi concession in 2014 and does not see a decision by the Abu Dhabi government on a renewed concession for at least a year if...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
Dana Gas Sees Production But Also Receivables Rise in 2013
...low the company to continue with its recent string of production success in Egypt into 2014. Dana’s overall 2013 net profit fell by 5%, to $156mn, due to “an increase in royalty payments to the Egyptian government, a higher depreciation, depletion and amortization expense in Egypt as well as lower sa...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014