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Libya Officials Hail ‘Successful’ Bid Round, As Chevron Returns
...illing campaign in Libya since the 2011 revolution (MEES, 1 November 2024), and announced a new 4,200 b/d oil discovery a year later (MEES, 31 October 2025). “Chevron is excited to enter Libya with the award of onshore Contract Area 106, which underscores our focus on North Africa and the Eastern Me...
Volume: 69Issue: 07Published at Fri, 13 Feb 2026 -
Syria’s SPC Courts IOCs As Re-engagement Accelerates
...west producer next year (MEES, 6 February). Regional experience suggests success is far from guaranteed: Lebanon’s two offshore wells to date have flopped, while Cyprus has yet to bring gas onstream despite discovering Aphrodite 15 years ago in 2011. Speaking to MEES on the sidelines of IE Week, Mr Qa...
Volume: 69Issue: 07Published at Fri, 13 Feb 2026 -
Eni Eyes ‘Best Fast-Track Development’ For Cyprus Cronos Find
...scovered more than a decade earlier in 2011, as Cyprus’ first gas development. Chevron (35%op) and its partners Shell (35%) and Israel’s NewMed (30%) have been set a deadline of 31 March to submit “optimizations” to Aphrodite’s 2019 approved field development plan (FDP) after previous modifications were re...
Volume: 67Issue: 07Published at Fri, 16 Feb 2024 -
Adnoc & BP Ink Egypt Gas JV With Israel Entry On Hold
...scovered in 2011 and mentioned by BP as a potential development option back in 2019 (MEES, 24 May 2019). $1BN+ DEAL? The companies do not say how much Adnoc will pay for just under half of BP’s share in the six assets beyond that a “proportionate cash contribution” will be earmarked “for fu...
Volume: 67Issue: 07Published at Fri, 16 Feb 2024 -
TotalEnergies Charges Ahead To 2022 Mena Oil Output Record
...ain sailing. Key projects in Syria and Yemen have been offline since 2011 and 2015 respectively amid devastating conflicts there. Net gas output last year was barely half the record 1.46bn cfd set in 2011 (see chart 4). But this hasn’t prevented Total from seeking more projects in the region, al...
Volume: 66Issue: 07Published at Fri, 17 Feb 2023 -
Chevron Eying Egypt Tie-In For Cyprus’ Aphrodite
...tober 2020). The US major’s input, expertise and deep pockets could prove to be invaluable if Cyprus’ dreams of developing its first ever discovery, made in 2011, are to be realized. Of course, those dreams don’t all rest on Aphrodite’s shoulders now, with Italian firm Eni and US major ExxonMobil ma...
Volume: 66Issue: 07Published at Fri, 17 Feb 2023 -
Stars Align As Exxon Hikes Egypt Commitment
...ock where the major drilled nine wells – and discovered gas in sub-commercial quantities (MEES, 5 May 2008) – before quitting in 2011. Before 2016 Exxon held no upstream stakes in the East Mediterranean but now it holds four blocks; three in Egypt and one in Cyprus. Exxon also, along with French ma...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Egypt Gas Turns The Corner, But Can It Maintain Investment?
...d IOC executives descended on Cairo this week to attend the 2nd annual Egypt Petroleum Show (EGYPS) as Egypt intensifies efforts to attract investment in its hydrocarbons industry. The country has been reeling since the 2011 Arab Spring revolutions which scared off investors. Petroleum Minister Ta...
Volume: 61Issue: 07Published at Fri, 16 Feb 2018 -
Algeria Looks To Build On Modest Output Gains But Investors Remain Wary
...uthwest have been significantly delayed. A consortium of Spain’s Repsol, Sonatrach, Germany’s RWE Dea and Italy’s Edison waited more than two years before finally being given the green light to develop the Reggane North field on Blocks 351c and 352c in the Reggane Basin in November 2011. The project was or...
Volume: 60Issue: 07Published at Fri, 17 Feb 2017 -
Algeria: 3 Bcm Gas Boost From In Salah Expansion
...s fallen to less than two-thirds of this figure – just 5.9 bcm for 2015. The fact that a project intended to maintain gas output will in fact provide a sizeable boost is indicative of the delays plaguing the Algerian upstream. In Salah output averaged 8.2 bcm in 2011, the year Southern Fi...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Adnoc Head Replaced As Abu Dhabi Eyes Output Rise
...s and oil production capacity and the renewal of a key offshore oil concession. Mr Suwaidi had headed up Adnoc since 2011, during which time he oversaw the renewal of the Abu Dhabi Company for Onshore Petroleum Operations (Adco). Of the 40% of the Adco concession open to foreign pa...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Baghdad, Erbil Face IOC Revolt As Cash-Crunch Stalls Payments
...e world had entered a new era of lower oil prices, predicting they would not recover to the $110/B level they averaged between 2011 and 2013 in the next few years. “It is very clear Iraq will not be able to deliver the quantum of production growth that is baked into people’s supply assumptions,” th...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Libya Peace Talks Begin But Economy Slides Towards Ruin
...recently as October, production was 900,000 b/d, and output before the 2011 uprising was 1.6mn b/d. Lower oil prices mean that Libya is also earning substantially less for its crude than over the course of last year. The average price of Opec’s basket of crude picked up slightly from $44/B in Ja...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Egypt: Apache Hopes Major Finds Will Stem Falling Output
...e Apollonia formation (MEES, 19 December, 2014). APACHE EGYPT* OUTPUT 2009 2010 2011 2012 2013 2014 Gross Pr...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Cyprus Peace Hopes See East Med Gas Export Options Multiply
...stabilized as a result, Israel and Turkey have common security concerns. With Egypt suffering from periodic political convulsions since the outbreak of the Arab Spring in 2011, the wider region remains unstable. Better relations between the two key US allies in the region have long been on Washington’s wish li...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
Egypt Signs Gas PSAs
...th IOCs. But the PSAs were only formalized after lengthy bureaucratic delays: Petroceltic, which signed up for the El Qa’a Plain block with UK-based Dana Petroleum, was awarded the block in the 2011 bid round. Egypt’s Petroleum Minister Sharif Isma’il, has worked hard to reduce the contracts ba...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
Egypt Struggles With Gas Supply Challenge
...ost domestic production from deepwater deposits. Egypt’s gas production has edged lower for each of the past three years since peaking at 62.7bcm in 2009. Production of 60.6bcm for 2012 was 3% down on 2009 and a further 0.6bcm/year (60mn cfd) down on 2011 (see graph and table). Output for th...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
BG Egypt Output Hit By WDDM Compression Failure
...’s flagship WDDM project did rise by 9% to 6.5bcm for 2012 stemming three years of continuous decline including a precipitous 17% fall in 2011 (see graph). However the 2012 rebound was much more modest than the 7.7bcm rise BG had anticipated. Nine new development wells were drilled during 20...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
Japanese, French, Move To Secure Abu Dhabi Concessions
...vember 2010). A Bigger Prize The November 2010 package helped secure the renewal of some small offshore concessions in early 2011. This time Tokyo is aiming for a bigger prize – a stake in major onshore producing fields when the ADCO concession ends. Upstream firm Inpex, through its Abu Dh...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
Sanctions Cost Iran $40Bn In 2012, IEA Says
...e region of $40bn in oil export revenues last year, as its crude oil exports sunk to an average of 1.5mn b/d – down nearly 1mn b/d from 2011 levels, the International Energy Agency (IEA) said on 13 February. “A back-of-the-envelope calculation shows Iran lost just over $40bn in export revenues in 20...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013