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Cyprus Eyes Gas Riches: Cronos And Aphrodite Plans Advance, Destination Egypt
...uld be 2031, 20 years after discovery, before Chevron achieves first output. Cyprus’ 3.5tcf Aphrodite field, the Mediterranean island’s first gas discovery in 2011, has a new development plan after Nicosia on 14 February accepted proposals filed by Chevron in September that envisage 800mn cfd ou...
Volume: 68Issue: 08Published at Fri, 21 Feb 2025 -
Tunisia’s Upstream: On Its Last Legs?
...cord 98,900 b/d for 2022. With chronic instability since Tunisia’s 2011 revolution having led to an investment collapse the country has gone from domestic oil output almost meeting demand in 2010 to a record shortfall for 2022 when domestic output equated to just 36% of demand (see chart 1). It...
Volume: 66Issue: 08Published at Fri, 24 Feb 2023 -
Libya Starts New Field
...untry’s volatile operating environment since the 2011 revolution has stifled many projects which promised to significantly boost production from current levels of about 1.2mn b/d. Security challenges and financial constraints are among the biggest challenges. FURTHER PROSPECTS Agoco ha...
Volume: 65Issue: 08Published at Fri, 25 Feb 2022 -
Abu Dhabi Awards Offshore Stake To State-Owned Firm Cepsa
...ter an Indian consortium was awarded 10% in the 360,000 b/d Lower Zakum concession (MEES, 16 February). Cepsa, a Spanish-based integrated oil firm, was acquired by Abu Dhabi investment vehicle IPIC in 2011. IPIC then merged with fellow state-firm Mubadala last year, with the combined entity known as...
Volume: 61Issue: 08Published at Fri, 23 Feb 2018 -
Egypt Looks To New Gas Finds To Ease Record Energy Deficit
...oducts demand has risen by over 80,000 b/d (11%) since 2011, including a 37,000 b/d rise last year alone (see table). This saw the country’s overall oil deficit more than double to 250,000 b/d last year (see chart). Tariq ‘Amir, Governor of the Central Bank of Egypt (CBE) says that the country hopes to...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
Iranian Volumes Re-Enter Crowded European Market
...bargo on Iranian crude came into force in 2012. In 2011, EU countries imported 598,000 b/d of Iranian crude, some 24% of Iran’s exports (see chart). Far and away the largest EU importers were Italy, Spain and Greece, which between them took 75% of Iranian crude imports to EU states (see charts). Ot...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
Algeria: Mixed Shale Signals Highlight Deeper Economic, Political Disarray
...mands specific to the southern Algerian and Sahara regions. But this is likely to resonate among the overall population,” Ms Jacobs says. REVENUES DOWN, STABILITY THREAT In the wake of upheavals in the Arab world since 2011, Algeria has managed to maintain a certain level of social st...
Volume: 58Issue: 08Published at Fri, 20 Feb 2015 -
ENI Sanguine On Libya
...om Italian pipeline operator Snam Rete appear to support his bullishness. These show volumes of over 700mn cfd so far this month, higher than the average for 2014, or indeed any year since the 2011 ouster of Colonel Qadhafi. LIBYA GAS EXPORTS TO ITALY (MN CFD)...
Volume: 58Issue: 08Published at Fri, 20 Feb 2015 -
Cash Crunch Suffocates Iran’s Oil Sector
...r day], so the petroleum ministry will get less than $3bn. How can we run Iran’s petroleum industry with this money?” he said. Iranian oil exports – crude and condensate – stood at just 1.1mn b/d in 2014 on average, down more than 55% from 2.53mn b/d in 2011, before the latest round of sanctions on...
Volume: 58Issue: 08Published at Fri, 20 Feb 2015 -
Iraq Set To Launch Gas Bidding As Eni Slams Terms
...siriya integrated project (see above). Indeed, none of the big oil majors which snapped up the oil TSCs in 2009 and 2010 showed much appetite to bid aggressively for the 12 gas blocks offered in 2011, of which three lie in the Anbar area that is now the scene of a showdown between the Iraqi army and al...
Volume: 57Issue: 08Published at Fri, 21 Feb 2014 -
Jordan Takes Plunge With Israel Gas Deal
...umped dramatically after 2011 and the loss of substantial volumes of Iraqi crude oil that was supplied at preferential prices by the ousted regime of Saddam Husain. Even the 10,000 b/d that Iraq shipped to Jordan by tanker trucks has dried up since November because of the ongoing fighting in Anbar pr...
Volume: 57Issue: 08Published at Fri, 21 Feb 2014 -
Egypt Boosts Gas Offering As Receivables Fall
...yrouz 5 Offshore N Sinai 2,280 9 1618 Y 2011 (N El Fayrouz) Tharwa N Port Fuad 7 Offshore Me...
Volume: 57Issue: 08Published at Fri, 21 Feb 2014 -
Libya: Political Process Still Holds Hope
...stricted the pipeline flow from two key oil and gas fields earlier this month. Formed out of the rebel units that ended Qadhafi’s rule in the 2011 revolution, the militia stand unopposed. The country’s army remains weak, and international efforts to grow its numbers by training soldiers are unfinished. Th...
Volume: 57Issue: 08Published at Fri, 21 Feb 2014 -
Gas, Infrastructure Challenges Loom Larger For Baghdad
...otests against widespread blackouts in summer forced the sacking of electricity ministers in both 2010 and 2011. BGC, while still not formally created, has managed to boost gas processing from 250mn cfd to 400mn cfd since the contract was signed in late 2011. It has implemented major training pr...
Volume: 56Issue: 08Published at Fri, 22 Feb 2013 -
UAE Gas Projects Advancing Towards Completion
...ring peak summer demand. Subsidized gas prices drive high demand levels: according to the same report, gas demand in the UAE increased by around 45% in the five-year period between 2006 and 2011. Since Mr Hamili has ruled out the possibility of raising gas tariffs in the UAE, conservative estimates su...
Volume: 56Issue: 08Published at Fri, 22 Feb 2013 -
Tullow Consolidates Mauritanian Position Ahead Of Key Drilling Campaign
...Petronas 13.5%, Kufpec 11.1%, Premier 6.2%, SMH 10% Remainder of former PSC A&B after discoveries hived off in Oct 2011. 3Q13 well targets ‘Tapendar’ C-18 90%op SMH 10...
Volume: 56Issue: 08Published at Fri, 22 Feb 2013 -
South Sudan Plots New Oil Concession Sales
...nth, representing 98% of government revenues. The country’s output was halted after it accused Khartoum of confiscating around $815mn worth of its crude as it flowed through Sudan to the Red Sea for export. Despite breaking away from Sudan in July 2011, South Sudan is still dependent on Sudan fo...
Volume: 56Issue: 08Published at Fri, 22 Feb 2013