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East Mediterranean Gas Faces Crucial 2016
...ant. The tender sought gas volumes rising from 19.5-30.4 trillion BTU in the first year to 25-43 trillion BTU by 2025. According to the terms of the tender, first gas was to be delivered between 1 January 2016 and 30 June 2017 although, with Cyprus currently lacking gas infrastructure of any sort these da...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Skint, Petroceltic Sells Egypt Blocks
...illing North Thekah towards the beginning of 2017. We would consider drilling Port Fouad in 2017 – potentially back to back” (MEES, 27 November, 2015). The attraction of Edison to the two blocks is boosted by it having the Israeli Neta and Royee licenses immediately to the east. Petroceltic was op...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Oman And BP To Expand $16bn Khazzan Gas Project
...velopment of the Sultanate’s oil and gas sector appears unlikely (MEES, 12 February). Indeed, while the overall rig count fell, the number of gas drilling rigs remained at a record 15. Phase One of the Khazzan tight gas project is planned to deliver first gas in late 2017. The10.5 tcf field lies in...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Adnoc Head Replaced As Abu Dhabi Eyes Output Rise
...osting oil production capacity. Adnoc has majority stakes in all of Abu Dhabi’s oil fields, with production around 2.9mn b/d. As such, Adnoc is essential for the UAE’s plans to increase overall production capacity from 3.2mn b/d to 3.5mn b/d in 2017 and Mr Jaber will be expected to bring the dr...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Tunisia Bags EU, IMF Cash But Oil & Gas Output At Record Lows
...untry’s second year of production. Gas output has fared only somewhat less badly (see graph) More bad news came with Austria’s OMV revealing in its 18 February results presentation that first gas from southern Tunisia’s Nawara project has slipped from 2017 to 2018 following the start of pipe laying in De...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Iran Sets Out FDI Strategy As Foreign Cash Starts To Trickle In
...ich projects it to increase to 12.6% in 2017-18 before beginning to fall. Mr Nili adds that the Iranian economy must create 655,000 jobs annually, just to keep unemployment at its current level; to bring down the unemployment rate to below 10% Iran needs to create 1mn jobs each year, he ad...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Saudi ‘Dumping’ Has Cannibalized Opec Revenue For Minor Long-Term Gains
...ve a right answer, we have to consider the majors’ longer term capex plans; because in the long term oil companies will do their best to adjust themselves to the new conditions and continue to make profits and satisfy shareholders. Comparing majors’ capex for 2014 and 2017 shows that though th...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
US Crude Output - Lower For Longer?: EIA Forecasts (Mn B/D By Date Of Forecast)
...SOURCE: EIA SHORT TERM ENERGY OUTLOOKS. FIRST 2017 FORECASTS WERE IN JAN 2016....
Volume: 59Issue: 07Published at Fri, 19 Feb 2016