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OMV’s Upstream Focus Drifts East
...only began producing there in the second half of 2018 when the Sarb & Umm Lulu concession began production. But the firm’s links to the UAE are deep and go back much further than this. Abu Dhabi state investor Mubadala took compatriot’s IPIC 24.9% stake in OMV after the two funds merged in 2017 – IP...
Volume: 66Issue: 06Published at Fri, 10 Feb 2023 -
KRG: DNO Buys Out Exxon At Baeshiqa, Eyes Development
...rformance in recent years – growing year-on-year output since 2018 – the gains have all been from expansion at existing fields. Until Chevron brought the 20,000 b/d Sarta field online in late 2020 (MEES, 22 January), there had been no greenfield startups since 2017’s Peshkabir and Atrush. But good news th...
Volume: 64Issue: 06Published at Fri, 12 Feb 2021 -
Qatar Seizes Golden Opportunity For US Cooperation
...rst investment in the United States, and is certainly not going to be our last. It represents a significant part of the plans that Qatar Petroleum announced to invest $20bn in the US energy sector.” Mr Kaabi had told MEES in December 2017 that “we are working on buying upstream assets and reserves in...
Volume: 62Issue: 06Published at Fri, 08 Feb 2019 -
Majors Take Integrated Approach To US Shale Boom, Gulf NOCs Join The Ride
...th deepwater Guyana and Brazil, the Permian forms the centerpiece of the major’s investment plans. Exxon only went big on the Permian with the $6.6bn purchase of key acreage in early 2017. But its Permian output rose 93% year-on-year to 300,000 boe/d (of which around 80% is liquids) for Q4 2018 with th...
Volume: 62Issue: 06Published at Fri, 08 Feb 2019 -
Major Threat For Opec With Offshore Exploration Boom
...e years to come. This the same message that the IEA has been seeking to drive home since late 2015, as it warns that “the recent spectacular decline in upstream oil and gas investment” presages “major concerns about the prospects for the adequacy of supply” (MEES, 21 July 2017). Based on ex...
Volume: 61Issue: 06Published at Fri, 09 Feb 2018 -
NOC Charm Offensive To Encourage Resumption Of Investment
...vestment in the country. According to NOC projections shared by chairman Mustafa Sanalla at London’s Chatham House in late January, the state firm is targeting oil production of 1.25mn b/d by the end of 2017 (see chart 1). If NOC meets its objectives, Libya will average just short of 800,000 b/d in Fe...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
OMV Expands in Libya With Purchase Of Oxy Zueitina Stake
...175,000 b/d from the field in the near future. OMV also has a share in production from the small Shatira field (Block NC163, Area 106) which has capacity of about 1,100 b/d. OMV expects its Libya production to reach an average 10,000 b/d in 2017, said the 2 February statement. “Subject to on...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Morocco Inaugurates 160MW Solar Plant, Starts On Two More
...rmany’s KfW. The completion of Noor 1 takes Morocco’s installed generating capacity to 7.85GW. Morocco’s solar program is part of a government plan to reduce reliance on fossil fuel imports. However, it is also developing coal-fired plants with 320MW and 1.39GW capacity, due online in 2017 and 2018 (MEES, 16...
Volume: 59Issue: 06Published at Fri, 12 Feb 2016 -
Total Still Leads The Pack On UAE’s Adco Concession
...om 2017, when total production from the onshore fields, operated by the renamed Abu Dhabi Company for Onshore Petroleum Operations Limited (Adco), is set to rise to 1.8mn b/d. WORTH THE COST “The second aspect is that it is for 40 years, which is quite unique in terms of length,” Mr Michel sa...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
ADCO: BP Expects No DecisionFor At Least A Year
...e UAE. Politics is expected to play a part in the decision of who ends up with a stake in the prized concession, where production is set to increase to 1.8mn b/d by 2017 with a number of new European players invited to bid alongside Chinese, Japanese and South Korean players more likely to bid ag...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014