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Kuwait’s Upstream Foreign Investment Drive Begins
...indication as to where the focus of any exploration would be. Total has previously looked at investing in Kuwait, with then-oil minister Isam al-Marzuq saying in 2017 that the French IOC and Russia’s Lukoil were to be awarded ETSAs for heavy oil development (MEES, 2 June 2017). Those plans ul...
Volume: 69Issue: 06Published at Fri, 06 Feb 2026 -
Egypt’s Cheiron: FID For 150mn Cfd West El Burullus
...e ‘East Alexandria’ block which was put on offer last month in a bid round launched by state gas firm Egas (MEES, 6 January). Cheiron purchased West El Burullus from Engie in 2017 (MEES, 19 May 2017), with the French firm the previous year having taken FID on the stand-alone development of the WE...
Volume: 66Issue: 06Published at Fri, 10 Feb 2023 -
Iraqi Kurdistan Gas Pipeline Boost: Turkey Exports Next?
...reement, Kurdistan was to supply Turkey with an initial 4 bcm/year from 2017, rising to 10 bcm/y by 2020 with the option of increasing to 20 bcm/y (MEES, 17 January 2014). A 2017 agreement for Rosneft to construct a pipeline with up to 30 bcm/y capacity also came to naught. Progress since then has been es...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Syria Says Oil Sector War Damages Hit $100bn As Assad Loyalists Scoop Contracts
...y asset in Kurdish-held territory is the 20,000 b/d Block 26 along the Iraqi border, which since January 2017 has been operated by Syrian state firm GPC under a revenue-sharing deal with the local Kurdish authorities (MEES, 11 June 2021). Despite GPC’s operatorship, production from Block 26 appears to...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Oman’s Majan: Heavy Challenge At Block 71
...tput (MEES, 7 December 2018). PDO discovered the field in the 1980s but failed to develop it, instead attempting to attract a potential developer in 2017 to no avail. Has Majan the tools to crack Habhab? While the field contains an estimated 2bn+ barrels in reserves, its sub-10°API bituminous crude wi...
Volume: 64Issue: 06Published at Fri, 12 Feb 2021 -
Sweden’s Tethys Eyes Big Year Ahead In Fashionable Oman
...nerated to snap up three exploration blocks since 2017 and says that its acreage now covers 18% of Oman. Oman’s upstream sector is undergoing a renaissance, with IOC interest in the sultanate growing tremendously since BP started up the Khazzan tight gas field in 2017 (MEES, 29 September 2017). Tethys Ma...
Volume: 64Issue: 06Published at Fri, 12 Feb 2021 -
Algeria: BP/Equinor Drop
...eadily declined since a $700mn compression project saw volumes hit a record 815mn cfd in 2017. Unfortunately, there wasn’t much of a Q4 rebound for In Amenas where volumes on a quarterly basis in 2020 have stayed somewhat steady. This suggests the overall slump is likely to be structural. 1: IN...
Volume: 64Issue: 06Published at Fri, 12 Feb 2021 -
Egypt's 2020 Gas Output Down 9% On Enforced Shut-Ins. Now For The Rebound?
...quefaction plants, ties in with their desire for upstream projects that can provide a rapid return on investment (see p12). Eni repeatedly flagged up such benefits for Zohr, which came online just 28 months after the field’s August 2015 discovery (MEES, 15 December 2017), and whose price tag of $10.6bn is...
Volume: 64Issue: 06Published at Fri, 12 Feb 2021 -
UAE Gets Major Gas Boost With Jebel Ali Discovery
...ll as supplies from Adnoc’s operations in Abu Dhabi, it is contracted to take 730mn cfd through the Dolphin pipeline from Qatar and imports LNG through a 960mn cfd (7.2mn t/y) FSRU. Dubai imported just 770,000 tons (100mn cfd) of LNG in 2018, down sharply from 2.47mn tons in 2017. Dubai’s limited of...
Volume: 63Issue: 06Published at Fri, 07 Feb 2020 -
KBR Bags Key Adnoc Contract
...Dubai (see p2). Eni says it is targeting first gas from the Dalma portion of the project in 2022, with the larger Hail & Ghasha project starting up in 2024. KBR has previously worked at the assets. In 2017 it was awarded a PMC contract for FEED work at the Dalma and Detailed Design and Su...
Volume: 63Issue: 06Published at Fri, 07 Feb 2020 -
BP Key Egypt Project Sees 12-Month Delay
...ree or four years of projects coming in below cost, on budget and, in some cases, ahead of schedule.” IT ALL STARTED SO WELL BP, which holds an 82.75% operator’s stake at WND, announced the start-up of the Phase-1 Libra and Taurus fields in late March 2017 “eight months ahead of start-up sc...
Volume: 63Issue: 06Published at Thu, 06 Feb 2020 -
New Egypt Gas Projects To Boost Output
...d Atoll project (MEES, 14 December 2018). BP says it hopes to raise Atoll output to 400mn cfd. The field came online in December 2017, the same month as Zohr, and is one of three discoveries the UK firm has made in the North Damietta concession in the Nile Delta, along with Qattameya and Sa...
Volume: 62Issue: 06Published at Fri, 08 Feb 2019 -
Algeria Oil Output On The Slide
...ude. Algeria’s average 2018 output of 1.04mn b/d was the lowest since 2003. Though Algeria ostensibly linked lower output for 2017 and 2018 to solidarity with Opec cuts, in reality a threadbare pipeline of new projects has translated into long-term output decline. Drilling activity fell to the lowest le...
Volume: 62Issue: 06Published at Fri, 08 Feb 2019 -
Iraq Seeks To Reboot Northern Oil Sector
...e Angolan state firm on 2 February officially agreed to return to northern Iraq where it has a 75% operating stake (NOC 25%) at the Qayara and Najma fields (see map). Current output is negligible. but at its peak Qayara produced 20,000 b/d (MEES, 27 January 2017). Sonangol was awarded 20-year te...
Volume: 61Issue: 06Published at Fri, 09 Feb 2018 -
Iraq Drilling Hits 3-Year High, Abu Dhabi Sets New Record
...rrying about any commitments to Opec to limit output (see p9). However, Iraq’s rig count remains at little more than half of the record 96 seen in the first half of 2014 before Islamic State overran large swathes of the country. The UAE is another country where Total, in its 2017 results and 2018 ou...
Volume: 61Issue: 06Published at Fri, 09 Feb 2018 -
Iran Eyes More West Karun Gains As Investment Concerns Deepen
...eds $200bn investment, of which 65-75% ($130-150bn) would be from international firms. But to date, the only post-sanctions deal remains June 2017’s $4.8bn agreement with France’s Total and China’s CNPC for Phase 11 of the South Pars gas field (MEES, 23 June 2017). At the time, the managing di...
Volume: 61Issue: 06Published at Fri, 09 Feb 2018 -
KRG Accelerates Payments But Suffers Further Production Setbacks
...ssavar-Rahmani says he expects 2017 output to average around current levels of 110,000 b/d. The firm plans 2017 capital investments of $100mn across its portfolio, with 65-70% of this earmarked for the KRG, and the remainder in Oman. The firm initially planned capex of $100mn for 2016, before re...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Dana Gas Restricts Egypt Investment As Receivables Rise In 2016
...st year, and we must therefore balance further investment in the country with collections going forward,” he says. The company’s overall finances are another reason for it to tighten its belt: “with Sukuk maturing in 2017, cash management remains a key priority,” it says. The firm’s cash balance wa...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Egypt Lays Out The Road To Gas Balance
...). Cairo plans to invest some $9.9bn to boost Egyptian gas production to 5.85bn cfd by the end of the country’s 2017-18 financial year in June 2018. As Oil Minister Tarek El Molla notes, this would mark a 50% hike from the 9-year low of 3.89mn cfd plumbed in May 2016. Output will “double” from mi...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
BG Slashes Egyptian Spending As Production Plummets
...nistry of Petroleum’s latest forecasts. The ministry forecasts Egyptian gas output of 5.03bn cfd for the 2014-15 financial year – a number which looks optimistic given actual output of 4.6mn cfd for the first half of the period – falling to 4.85bn cfd for 2017-18. ISRAELI, CYPRUS GAS TA...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015