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Qatar Sees Buoyant LNG Demand Outlook As It Sanctions Further Expansion
...oductive layers of the giant field extend towards the west.” The discovery follows a drilling campaign of more than 20 appraisal wells since 2014. “Most recently, QatarEnergy has focused its efforts and attention on determining how far west the North Field extends in order to evaluate the production po...
Volume: 67Issue: 09Published at Fri, 01 Mar 2024 -
Egypt Oil Output Turns A Corner With Apache Drilling At 8-Year High
...evated levels. Apache says it plans to maintain a 17-rig program for 2023 for the highest annual figure since 2014 and up three from the average 2022 figure of 14 (see chart 4). As for capex, Apache reveals in its latest annual filing that it is committed to spend at least $1.8bn in Egypt between Ja...
Volume: 66Issue: 09Published at Fri, 03 Mar 2023 -
Mena’s No.1 Producer Total Doubles Down On UAE Presence
...dn’t warrant a namecheck. 1: TOTALENERGIES' NET ABU DHABI LIQUIDS OUTPUT ('000 B/D) *2014 VOLUMES DROPPED DUE TO EXPIRY OF ADNOC ONSHORE (ADCO) CONCESSION. SOURCE: TOTALENERGIES, MEES. 2: CEPSA'S NET SARB & UMM LULU* PRODUCTION ('000 B/D) *BASED ON OMV'S EQUIVALENT 20% ST...
Volume: 66Issue: 09Published at Fri, 03 Mar 2023 -
Egypt: Record 2021 Gas Output But Outlook Uncertain
...ices headed south in late 2014, with 2020 seeing further cuts to capex budgets. … NOW FOR THE REBOUND? However Cairo has now moved to stop the rot by updating production sharing contract (PSC) terms that, key producers argued, failed to incentivize investment in mature ac...
Volume: 65Issue: 09Published at Fri, 04 Mar 2022 -
Apache Resigned To Further Fall In Egypt Oil Output
...very measured.” With the firm’s Egypt capex and rig count already having fallen to the lowest in over a decade, further cuts are planned for 2021 with an average of just five rigs set to be active in Egypt versus a peak of 27 in 2013 and 2014 (see chart 2). This means output is all but gu...
Volume: 64Issue: 09Published at Fri, 05 Mar 2021 -
Heavy Oil Start Up Boosts Kuwait Upstream Sector
...en the onshore Wafra field was shut-in (MEES, 15 May 2015). That followed the shut-in of the offshore Khafji field in October 2014 (MEES, 24 October 2014). In the last year of full-production (2013), output from the PNZ averaged 460,000 b/d, with 250,000 b/d from the offshore and 210,000 b/d from th...
Volume: 63Issue: 09Published at Fri, 28 Feb 2020 -
Abadi Claims KRG Pipeline Deal As Trucking Plans Fade
...tting first pick of depleted Kurdish volumes. Iraq plans to build its own pipeline to Fishkabur on the Turkish border to replace its 1.5mn b/d link destroyed by Islamic State in 2014. But this would not be operable until 2020 at best. Abdul Mahdy, head of the oil ministry’s contracts division, said on...
Volume: 61Issue: 09Published at Fri, 02 Mar 2018 -
Algeria Gas Set For Record 2018 With Start-Up Of Key Southwest Fields
...msung Engineering was the lead construction contractor, having won an $800mn lump sum turn-key engineering, procurement, construction and pre-commissioning contract in February 2014. Total last month doubled down on its commitment to Algeria in the wake of its recent acquisitions of Maersk (planned fo...
Volume: 61Issue: 09Published at Fri, 02 Mar 2018 -
Iraq Eyes Oil Revenue Gains And Incremental Production Growth
...09mn b/d higher than in 2014 (MEES, 10 February). Although revenue plummeted over this period, it stands in good stead to capitalize should the latest oil price gains be sustained. Output is constrained by the production agreement in the first half of 2017 – although Iraq remains the tardiest member in te...
Volume: 60Issue: 09Published at Fri, 03 Mar 2017 -
Iran Back in Business, But Concerns Remain
...e terms of an initial deal signed in 2009, Pakistan was to import 750mn cfd (8.2 bcm/year) of Iranian gas from December 2014, but while Iran has completed its section of the pipeline, the Pakistani side remains incomplete, partially due to funding problems stemming from Iranian sanctions. With nu...
Volume: 59Issue: 09Published at Fri, 04 Mar 2016 -
Taq Taq Reserves Downgrade Hits KRG And Genel Energy Plans
...om alone in being thwarted by the region’s complex geology. The most eye catching example was Hungary’s MOL, which in August 2014 was lauding its Field Development Plan (FDP) for its 800mn barrel Akri Bijeel field in which it had an 80% stake (MEES, 10 October 2014). Barely a year later, MOL slashed th...
Volume: 59Issue: 09Published at Fri, 04 Mar 2016 -
South Sudan Oil Revenues Collapse
...Official South Sudan data obtained by MEES shows oil revenues – almost the sole source of income – collapsing to just $40mn/month, covering a mere 16% of budget spending. The government of South Sudan generated just $984mn from crude sales in the 2014-15 financial year, down by almost 40% on...
Volume: 59Issue: 09Published at Fri, 04 Mar 2016 -
Iran Taps SWF For $4.8Bn Oil Project Funds
...e oil and gas fields Iran shares with its neighbors, one of his administration’s top priorities. Iranian officials have long complained that Iran is falling well behind its Arab neighbors – primarily Iraq, Oman and Qatar – in the exploitation of these shared reserves (MEES, 9 May 2014). This de...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Iraq Adds Southern Storage Capacity In Bid To Ease Export Bottlenecks
...4mn b/d, but is often shut down when there is a backlog in loadings from the Basra and Khor al-’Amaya terminals. Iraq’s oil production capacity rose by 400,000 b/d in 2014, exclusively from the southern fields being developed by foreign consortia under long-term service contracts awarded in 2009 and 20...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Egypt: Tahrir Petchems Advance
...19 (MEES, 4 April 2014). The Tahrir complex will rely on imported naphtha, making it immune from the feedstock supply problems affecting other Egyptian petrochemicals projects that rely on dwindling local gas supplies (see p7). Meanwhile, Egypt’s cabinet has announced plans for a number of pe...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Options Narrow As Libya Peace Talks Collapse
...e Libyan army. Haftar, the nominal leader of a major part of the Libyan National Army, launched the Operation Dignity campaign against Islamist groups in May 2014, and he has gradually come to be seen as the de facto head of fighting forces loosely representing the HoR. Saqr al-Jurushi, who is lo...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Noble Suspends Israel Investment Amid Anti-Trust Stasis
...d Delek in March 2014. This would have allowed the two firms to keep their interests in Leviathan and Tamar as long as they sold off two smaller fields, Karish and Tanin. Following this Noble and Delek last year advanced plans to develop the Leviathan field, the East Mediterranean’s biggest gas di...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Egypt Plots Gas Renaissance
...EGYPT Egypt Plots Gas Renaissance Egyptian gas output fell to a nine-year low in 2014. But confidence that the decline can be reversed is increasing. The latest bid round, offering eight large gas-prone Mediterranean blocks, will be a key part of any renaissance. Egyptian state ga...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Egypt Appoints New Chiefs To Key Oil Joint Ventures
...fzaf, the former assistant chairman at the Shell JV Bapetco, taking his place (see table). Almost all of Egypt’s oil and gas production (671,500 b/d and 4.7bn cfd for 2014) comes via joint ventures that group EGPC and foreign oil firms. This means that many of the senior appointments to these jo...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Italy’s Eni In New Tirade Against Iraq Contract
...pay them around $12.5bn in 2014, he said. The efforts of the foreign oil companies since the first and second oil auctions were held in 2009-10 have helped to raise oil production capacity to levels above 3mn b/d from just over 2mn b/d before 2010. Exports are expected to average 2.7mn b/d th...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014