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Repsol ‘Optimistic’ As Libya’s Sharara Output Hits Five-Year High
...arly 60,000 b/d before the 2011 revolution but output has averaged 25-30,000 b/d in recent years. LIBYA’S SHARARA CONCESSION: AVERAGE OUTPUT SLUMPED TO 200,000 B/D FOR 2024 ON THE BACK OF LENGTHY OUTAGES (‘000 B/D).... ...BUT NEW DRILLING CONTINUED APACE. REPSOL SAYS CAPACITY LEAPT BY 37,000 B/D OV...
Volume: 68Issue: 09Published at Fri, 28 Feb 2025 -
Egypt: Record 2021 Gas Output But Outlook Uncertain
...crease on December 2021’s 9,394 b/d, but still the lowest since 2011. TransGlobe says much of its “$33.1mn Egypt capital program is predominantly weighted towards 13 development wells within the Eastern Desert.” “With the finalization of the concession agreement, the primary focus of the 2022 Eg...
Volume: 65Issue: 09Published at Fri, 04 Mar 2022 -
Exxon Makes ‘World Class’ Cyprus Discovery
...US major ExxonMobil has discovered 5-8tcf of gas on Cyprus offshore Block 10, the third significant gas discovery made off the Mediterranean island since 2011. But there is still no clear route for any of those fields to be developed. The announcement this week by US major ExxonMobil (60...
Volume: 62Issue: 09Published at Fri, 01 Mar 2019 -
Algeria Gas Set For Record 2018 With Start-Up Of Key Southwest Fields
...tal (37.75%), alongside Abu Dhabi-owned Spanish firm Cepsa (11.25% – until 2011 Total owned 50% of Cepsa) and state energy company Sonatrach (51%). The start-up follows a new contractual framework agreed between the partners and Algeria’s state licensing body Alnaft on 12 December. South Korea’s Sa...
Volume: 61Issue: 09Published at Fri, 02 Mar 2018 -
Zohr On Target, Rosneft Farm-In Questioned
...ws that both Eni and its CEO Mr Descalzi have been charged by Italian prosecutors for their alleged roles in an international corruption case regarding the 2011 purchase of Nigerian acreage for some $1.3bn. Mr Descalzi will face trial with former Eni CEO Paolo Scaroni and nine other individuals in...
Volume: 60Issue: 09Published at Fri, 03 Mar 2017 -
Iran Back in Business, But Concerns Remain
...art). Japan increased imports of Iranian crude in January for the third straight month, with its 194,000 b/d, the highest since March 2015. Both countries’ imports in 2015 were about half the level in 2011 before sanctions against Iran were tightened significantly, and Iran will be seeking to increase ex...
Volume: 59Issue: 09Published at Fri, 04 Mar 2016 -
Taq Taq Reserves Downgrade Hits KRG And Genel Energy Plans
...er 100,000 b/d, close to a quarter of the region’s total output. Genel shares tumbled by around 40% after it announced on 29 February that Taq Taq’s original 2P reserves were being cut by 48%. The original 2P reserves as calculated in 2011 were 683mn barrels, but this was revised down to 356mn ba...
Volume: 59Issue: 09Published at Fri, 04 Mar 2016 -
South Sudan Oil Revenues Collapse
...serves and infrastructure incurred when the south seceded from Sudan in July 2011 (see tables 3 & 4). This latter agreement, known as the Transitional Financial Arrangement (TFA), covered the repayment of $3.028bn over a three and a half year period, due to expire in December 2016. There is no chance of...
Volume: 59Issue: 09Published at Fri, 04 Mar 2016 -
Iran Taps SWF For $4.8Bn Oil Project Funds
...st one quarter of what it earned in the year starting March 2011, before international sanctions limiting its oil exports came into effect. Including its gifts of crude oil to Syria – estimated at between 50,000 b/d and 70,000 b/d (see p21) – Iran’s crude oil and condensate exports averaged 1....
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Options Narrow As Libya Peace Talks Collapse
...ters to prevent the delivery of weapons to Islamic radicals, and both Libya and Egypt requested that an arms embargo imposed on Libya in 2011 be lifted. Neither request was granted. ARAB INTERVENTION FORCE? Mr Sisi has also called for the creation of a joint Arab military force, and claims that Jo...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Iran Plays Hardball On Turkey Gas Price
...rkey has since early 2012 been pushing for a revision in the price it pays for gas imports from Iran, going so far as to open an arbitration case against the Islamic Republic earlier this month. As well as the price issue, Ankara is citing unreliable gas supplies during winter 2011-12, and more re...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Abu Dhabi Continues Onshore Oil Fields Uncertainty
...abi Company for Onshore Operations (ADCO) The confusion is continuing into its fifth year. Twice in 2011 ADNOC told ADCO that it expected the SPC to make a decision that year on extending the concession. It had also told them it would do this in 2010 and before that in 2009. A th...
Volume: 56Issue: 09Published at Fri, 01 Mar 2013 -
Apache Hit By Egyptian Permit Delays
...uple of key projects in the works will modestly raise output over the coming two years. But the relative importance of Egypt for Apache continues to slide. Apache’s gross Egyptian crude production dipped 2% from 2011’s record levels to 213,000 b/d for 2012. But with 32% of Egypt’s total ou...
Volume: 56Issue: 09Published at Fri, 01 Mar 2013 -
Total Drilling Plans Fail To Disguise Egypt Deepwater Exploration Stalemate
...ch well since Shell relinquished its giant 42,000 sq km Northeast Mediterranean Deepwater (NEMED) concession in early 2011. The latest well, in 1,500ms of water, will target deep Nile Basin deposits and is expected to cost at least $100mn. East El Burullus, also known as Block 4, was one of fo...
Volume: 56Issue: 09Published at Fri, 01 Mar 2013 -
Security Vacuum Delays POGC Drilling Restart
...08 bidding with a commitment to drill eight wells. None has yet been spudded, although the company was in the process of mobilizing a rig for a 2011 drilling campaign when Libya’s revolution kicked off in February that year (MEES, 2 April, 2012). POGC lifted force majeure in November with th...
Volume: 56Issue: 09Published at Fri, 01 Mar 2013