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Kuwait Appoints Oil Minister, Parliament To Vote On Oil Output, SPC Reform
...al with KPC’s Kuwait Oil Company (KOC) subsidiary. The previous parliament launched the probe into Shell’s contract to help develop northern Jurassic gas fields (MEES, 8 August 2011). The investigation covers whether Shell has operational or management control over the planned 1bn cfd sour gas pr...
Volume: 55Issue: 08Published at Mon, 20 Feb 2012 -
Baghdad And Irbil Return To The Fray
...bil’s claims. It is noteworthy that three of the blocks awarded to ExxonMobil in October lie in such disputed areas – both al-Qush and Baeshiqa are home to sizeable non-Kurdish populations (MEES, 21 November 2011). And militant local opposition to ShaMaran’s presence in Pulkhana stopped some seismic op...
Volume: 55Issue: 08Published at Mon, 20 Feb 2012 -
Neutral Zone Oil Production Capacity To Increase 180,000 B/D By 2019
...wait’s parliament and Ministry of Oil (see page 1 and MEES, 8 August 2011). Under the original plan the fields would produce 350,000 b/d and 600mn cfd in 2016, although this timeline has slipped by at least two years. KOC now includes the liquids in its 4mn b/d 2020 production target. Nawara no...
Volume: 55Issue: 08Published at Mon, 20 Feb 2012 -
Cyprus Launches Second Offshore Licensing Round, Turkey Objects
...companied by warships, into the Cyprus EEZ (MEES, 10 October 2011, 3 October 2011). Cyprus, a member of the EU, has received the support of Brussels, Washington and Moscow for its right to explore and develop its offshore resources. The Cyprus government has stated on several occasions that any wealth at...
Volume: 55Issue: 08Published at Mon, 20 Feb 2012 -
Iranian Banks Struggling As Challenges Intensify, Says Darien Analytics
...alytics. The Darien study seeks to bring to Iranian banks the type of analysis it carried out on Gulf banks (MEES, 10 October 2011). However, the London-based consultancy acknowledges that getting to the bottom of Iranian banking is not easy given that disclosure is sometimes poor. Despite the di...
Volume: 55Issue: 08Published at Mon, 20 Feb 2012 -
Popular Uprisings Rip Through Middle East
...oid rescheduling its debt. Foreign exchange reserves of the Central Bank of Egypt (CBE) fell by $1bn in January 2011 to $35bn from $36bn at end-December. According to the CBE Vice-Governor Hisham Ramiz, the fall was attributed to the repayment of $650mn to the Paris Club and to other due obligations of...
Volume: 54Issue: 08Published at Mon, 21 Feb 2011 -
Noble Energy Looks To Accelerate Cyprus Offshore Program
...tober 2011 and October 2013. Furthermore, Noble’s key partner in Israel, the Delek Group, holds an option to acquire a 30% stake in Block 12 depending on Cypriot government approval. Noble’s desire to get moving in Cyprus follows a proposal made last month by the Delek Group to the government of Cy...
Volume: 54Issue: 08Published at Mon, 21 Feb 2011 -
Egypt Project Finance Slowed By Unrest, Concerns Grow For Region
...onomic Commentary, APICORP warns: “We should expect unfolding events to affect both the size and cost of capital inflows.” This is worrisome given that it sees the capital required for Arab energy investments climbing to $430bn for 2011-15, up from $335bn in 2010-14 (see page 18). The impact on pr...
Volume: 54Issue: 08Published at Mon, 21 Feb 2011 -
Abu Dhabi’s ADCO Targets 1.8Mn B/D Oil Capacity
...heduled for 2011 start-up, will now come on stream in 2015. Zadco is also looking to boost capacity at its Satah field by around 10,000 b/d to 25,000 b/d by 2013. Meanwhile Abu Dhabi’s other offshore operator, ADMA-OPCO, is looking at expansion at its Umm al-Lulu field and has also studied a major ca...
Volume: 53Issue: 08Published at Mon, 22 Feb 2010 -
UAE Faces Gas Crisis
...ms to boost crude production capacity from 2.8mn b/d to 3.5mn b/d by 2012-15. But serious gas increments will only start to arrive in 2012. And observers of the UAE energy scene view 2011 as a potential crisis year. The first increment is the 1bn cfd Shah ultra-sour gas development, which will pr...
Volume: 51Issue: 08Published at Mon, 25 Feb 2008 -
Yemen Accelerates Upstream Efforts As Oil Production Falls
...meni government.” Nexen’s PSA on Block 14 (Masila Block, operator, 52%) ends in 2011 (with a possibility for a five-year extension) and setting in place the EOR technology would take two-to-three years in itself. Only if the existing PSA is extended will it make sense to use EOR, Mr Mawhinney said, wi...
Volume: 51Issue: 08Published at Mon, 25 Feb 2008