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Chevron Eyes Long Term Gains From Saudi-Kuwait Neutral Zone
...rm opportunities that are captured and can become very attractive.” NEUTRAL ZONE REBOUND Production in the PNZ was fully shut-in from May 2015 until February 2020, with the offshore Khafji field taken offline in October 2014 followed by the onshore Wafra field in May 2015. On th...
Volume: 68Issue: 08Published at Fri, 21 Feb 2025 -
Egypt Upstream Output Set To Fall Further In 2024 As Zohr Slump Continues
...ames the underperformance on an inability to secure sufficient workover rigs. This saw activity fall behind the firm’s plans, with output further hit by “early-life ESP failures in new high-rate wells.” Apache’s rig count averaged 17 last year, the highest since 2014. Apache is guiding for 13-15 rigs th...
Volume: 67Issue: 08Published at Fri, 23 Feb 2024 -
Saudi Energy Minister Makes Gas Export Pledge
...tension for assisting Aramco design strategies to “produce and deliver significant volumes of gas from shale and tight gas reservoirs.” The initial contract award was made in 2014. Mr Nasser said last year that Aramco would advance the planned Jafurah processing plant in 2020, which will form the key pl...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Iraq: Gas Aims Progressing, But Miles Still To Go
...fining in a ministry shakeup (see p18). That Baghdad had previously targeted 2015 (MEES, 28 February 2014) for eliminating flaring is emblematic of the scale of the problem. A quick glance at the numbers shows the extent of the challenge. 1: IRAQ GAS OUTPUT EXCEEDS 3BN CFD IN SECOND HALF OF 2018, BU...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Iraq Looks To Turkey For Support Up North
...rkuk after abandoning its commitment to conduct a technical study of the fields when the Islamic State threatened operations in 2014 (MEES, 19 January). Mr Luaibi characterized BP’s return as part of an “ambitious plan” to raise output to 750,000 b/d but at present a dearth of export options will st...
Volume: 61Issue: 08Published at Fri, 23 Feb 2018 -
Abu Dhabi Finalizes Onshore Concession With Chinese Partnership
...anayel, along with one field under development - Jumaylah. Projects are underway to increase NEB output to around 230,000 b/d. In 2014, Italy’s Maire Tecnimont was awarded a $2.25bn EPC contract to boost Al Dabb’iya output to 145,000 b/d by 2018 and the project is still underway. South Korea’s GS En...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
Kuwait: Subsidy Row Presages Return To Disruption As Usual
...s poor performance on another project. This is the construction of a 100,000 b/d gathering center (GC-31) for Kuwait’s northern fields. The KD250mn ($810mn) contract was awarded in July 2014 – Petrofac and India’s Larsen and Toubro were awarded two other gathering centers – with a planned completion of...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
Egypt Looks To New Gas Finds To Ease Record Energy Deficit
...cut its import bill from 2015’s record $80bn to $60bn for 2016. But quite how it will reduce its import bill this year is unclear, especially considering a large proportion of the 167 LNG cargoes Cairo has signed since December 2014 (MEES, 16 October 2015), will be arriving in 2016 as authorities lo...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
Iranian Volumes Re-Enter Crowded European Market
...ea of concern for firms considering conducting business with Iran, increasing the attractiveness of swap arrangements. SOUTH KOREAN SPIKE South Korean data shows that imports of Iranian crude in January were at their highest level since March 2014. The 202,000 b/d imported was considerably hi...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
Iraq Considers Production-Sharing For New Acreage
...at the state cannot take on at this time. Foreign investors need incentives to enter into exploration contracts that offer higher rewards, he says. Iraq, which according to BP’s 2014 Statistical Review of Energy has the world’s fifth largest oil reserves –some 150bn barrels – has since the fall of...
Volume: 58Issue: 08Published at Fri, 20 Feb 2015 -
KRG Slams Agreement With ‘Bankrupt’ Iraq
...d the Bai Hasan field, within what is disputed territory. Mr Barzani says the Iraqi side had told him they could spare $300mn at the present time, which he said was half of the amount agreed. The collapse in oil prices since June 2014 and the additional cost of the battle against Islamic St...
Volume: 58Issue: 08Published at Fri, 20 Feb 2015 -
Algeria: Mixed Shale Signals Highlight Deeper Economic, Political Disarray
...licy reversal came in response to public protests which started in In Salah province, site of the shale drilling program, in December 2014 before spreading to other cities in the Sahara and in the north, including Algiers, Oran and Bejaia. ENVIRONMENTAL RISKS? Campaigners are calling for a mo...
Volume: 58Issue: 08Published at Fri, 20 Feb 2015 -
ENI Sanguine On Libya
...LIBYA Claudio Descalzi, CEO of Italy’s Eni says the company’s Libya output has not been affected by the massive and growing instability affecting the country. Speaking on an 18 February conference call marking the company’s 2014 results he said that though “the environment [in Libya] is...
Volume: 58Issue: 08Published at Fri, 20 Feb 2015 -
Cash Crunch Suffocates Iran’s Oil Sector
...salaries to its staff. The front month Brent crude contract fell to $47/B in mid-January, from a 2014 peak of $115/B in mid-June, though this has since rebounded by more than $10/B to just shy of $60/B, as MEES went to press. MINISTRY REVENUES SLASHED “When the oil price was at $100/B and we...
Volume: 58Issue: 08Published at Fri, 20 Feb 2015 -
Groundhog Day In Iraqi Kurdistan: Oil Exports Stall, Again
...rder. Genel Admits Delay Mr Hayward’s remarks contrast with a more optimistic forecast he made in November last year, when he said that full commissioning of the pipeline would be complete by the end of 2013, allowing full exports to start in early 2014. Since early January, only crude oil from th...
Volume: 57Issue: 08Published at Fri, 21 Feb 2014 -
Jordan Takes Plunge With Israel Gas Deal
...ich earlier this month secured a 25% stake in the Leviathan consortium, said on 19 February that the Leviathan joint venture expected to start front end and engineering work on the FLNG project some time in 2014. Woodside CEO Peter Coleman told a briefing after announcing annual results that a fi...
Volume: 57Issue: 08Published at Fri, 21 Feb 2014 -
Egypt Boosts Gas Offering As Receivables Fall
...ma’il told Bloomberg that the first of several cargos of imported liquefied natural gas (LNG) for 2014 will arrive before the summer, and negotiations over a floating import terminal are in the final stages. LNG imports will continue for a period of up to five years starting in 2015, the minister sa...
Volume: 57Issue: 08Published at Fri, 21 Feb 2014 -
Libya: Political Process Still Holds Hope
...the near term, with periodic spikes in violence probable. 2014: Gloomy Outlook For Iocs Mr Howard’s outlook is mirrored by oil companies active in Libya. Italy’s Eni, which has been affected by the disruption of gas supplies from Wafa this month, and saw its crude shut in at El Feel last ye...
Volume: 57Issue: 08Published at Fri, 21 Feb 2014 -
Contractor Shortage Sets Back Libyan Production Ramp-Up
...se in Libyan output. Wintershall Woes Germany’s Wintershall – a subsidiary of chemicals giant BASF – says that raising production on its two Sirte basin blocks from 80,000 b/d to the pre-Revolution average of 100,000 b/d will likely take until 2014. The company had previously said th...
Volume: 56Issue: 08Published at Fri, 22 Feb 2013 -
UAE Gas Projects Advancing Towards Completion
...ortage of at least 2bn cfd of gas each summer. Al-Hosn, a joint venture (JV) between state-owned Abu Dhabi National Oil Company (ADNOC) 60% and US independent, Occidental Petroleum (Oxy) 40%, is set to complete the Shah ultra-sour gas field development in 4Q 2014 – producing 1bn cfd of wellhead ga...
Volume: 56Issue: 08Published at Fri, 22 Feb 2013