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Global Gas Scramble After Qatar Shuts Down LNG Production
...osure. It has always marketed itself as a highly-reliable supplier, but going forward clients will have to take into consideration the geopolitical risks stemming from proximity to Iran. CEO Saad al-Kaabi emphasized the importance he places on this reputation of reliability when speaking with MEES in 2017...
Volume: 69Issue: 10Published at Fri, 06 Mar 2026 -
Oman Taps BP’s Giant Khazzan Gas Field For LNG Boost
...fining change: the discovery and development of the massive Khazzan unconventional gas field on Block 61 in the center of the country. Back in 2017, BP brought the 1bn cfd Khazzan first phase online, followed by a further 500mn cfd under the second phase Ghazeer expansion in 2020. Capacity has been at...
Volume: 68Issue: 10Published at Fri, 07 Mar 2025 -
Egypt: Apache Eyes Gas Gains As Eni Output Slumps
...an half the 3Q 2015 peak of 1.412bn cfd. As such national gas output is back at levels last seen before the 2017 start-up of Eni’s giant Zohr offshore field. ENI: ZOHR SLUMP And falling output at Zohr itself is a key part of the reason. Production has fallen to less than ha...
Volume: 68Issue: 10Published at Fri, 07 Mar 2025 -
Aramco Approaches Finishing Line For Offshore Crude Increments
...AVY Aramco says that it ended 2024 with 189.8bn barrels of proved crude and condensate reserves, down from 191.3bn barrels last year and 204.8bn barrels in 2017 – the highest figure on record. The firm is hopeful that it will be able to tap into more of its reserve base from now on, with Saudi Ar...
Volume: 68Issue: 10Published at Fri, 07 Mar 2025 -
Saudi Arabia Eyes ‘Competitive Advantage’ From Gas Output Growth
...unconventional gas globally. The move across to the Middle East has been slow to occur, but is now picking up pace. Oman was the pioneer, with the BP-led Khazzan tight gas project starting up in 2017, and Muscat is now looking to increase output from the development above current levels of 1.5bn cf...
Volume: 68Issue: 10Published at Fri, 07 Mar 2025 -
Nuclear, Renewables Drive Abu Dhabi’s Gas-For-Power Demand To Fresh Lows
...u Dhabi and Fujairah increased by 6% last year to a record 108.5TWh. The continued growth in clean-power generation means that Ewec’s gas consumption fell for the seventh consecutive year to 1.67bn cfd, the lowest figure since 2011 (see chart 2). Ewec’s gas consumption is now down 680mn cfd from its 2017...
Volume: 68Issue: 10Published at Fri, 07 Mar 2025 -
BP Egypt Gas Boost
...tput had slumped to just 400mn cfd late last year, the lowest level since 2017 start-up with almost all current output from the ‘Phase 3’ Raven field. However the start-up last month of two Raven infill wells – the first two wells of the just-completed campaign – should have hiked output to around 60...
Volume: 68Issue: 10Published at Fri, 07 Mar 2025 -
Kuwait Eyes 110kbd At Bahra
...23-24 financial year on 31 March. However, current output is much more modest at 45,000 b/d, perhaps due to Opec+ output constraints (see p10). Bahra, where Kuwait’s first oil well was drilled in 1936, is a mature field producing mainly from the Mauddud formation. Halliburton was brought in 2017 to...
Volume: 67Issue: 10Published at Fri, 08 Mar 2024 -
Kuwait Targets 3.1mn B/D End-2023 Capacity
...C’s plans to award a fifth ETSA for development of oilfields in West Kuwait have gone nowhere, and production capacity from the area dropped from 530,000 b/d in 2017/18 to just 461,000 b/d in 2020/21. This is indicative of the major difference between Kuwait’s expansion plans and those of its ne...
Volume: 66Issue: 10Published at Fri, 10 Mar 2023 -
Lukoil Gets Green-Light To Develop Iraq’s 250,000 b/d Eridu
...gnature comes six years after the field’s February 2017 discovery and almost two years after Lukoil in late 2021 filed a “preliminary development proposal” for a 20-year development and production phase (MEES, 26 November 2021). Back then no binding decision could have been made by the Oil Ministry as Ir...
Volume: 66Issue: 10Published at Fri, 10 Mar 2023 -
Geo-Jade To Spend $60mn At Huwaiza
...t at 10,000 boe/d. The target is lower than MOC’s 2017 initial production target of 20-30,000 b/d. Unlike Iraq’s previously awarded Technical Service Contracts, the DPC remunerates foreign firms with a share of revenues and Geo-Jade will be entitled to a Remuneration Percentage Bid (RPB) of 7.15% af...
Volume: 66Issue: 10Published at Fri, 10 Mar 2023 -
Iraq Appoints New Director At State Marketer Somo
...Nouri al-Maliki, a key backer of new Prime Minister Mohammed al-Sudani. Mr Yasiri had held the position since 2017, when he replaced long-term incumbent Falah al-Amri (MEES, 15 September 2017) and swiftly reversed plans to pivot to pricing Iraqi crude exports against DME Oman. MEES understands th...
Volume: 66Issue: 10Published at Fri, 10 Mar 2023 -
IFAD Upper Zakum Contract Set For Q3 Launch
...gional producer still pricing its export grades against Platts Oman. Somo previously announced plans to make the switch to DME Oman back in 2017 (ahead of Aramco) but pulled back from making the move (MEES, 15 September 2017). An IFAD Upper Zakum contract may be a tempting benchmark for Somo to price ag...
Volume: 66Issue: 10Published at Fri, 10 Mar 2023 -
ARA PetroleumTargets 30,000 boe/d Oman Output
...troleum once it has been recommissioned (MEES, 24 February). BLOCK 44: NEW DRILLING CAMPAIGN ARA acquired Block 44 (100%) from Thai state firm PTTEP in August 2016 (MEES, 24 November 2017). It used to be ARA’s only gas producing asset, and primarily consists of numerous small non-as...
Volume: 66Issue: 10Published at Fri, 10 Mar 2023 -
Opec Production Edges Higher: Just A Drop In The Stormy Ocean
...oduction gains remain uncertain. Venezuela produced more than 2mn b/d as recently as 2017 but will likely require years to return output close to this level. …AND IRAN?... What about talks with Iran on reviving the JCPOA nuclear agreement which have supposedly been on the cusp of co...
Volume: 65Issue: 10Published at Fri, 11 Mar 2022 -
Thailand: Record LNG Imports For 2021 As Qatar Remains Dominant
...figures of over 60% to 2017 (see table and chart). Short-haul supplier Malaysia is number two on 1.07mn tons. Oman supplied a record 255,000 tons (four cargoes), up from two cargoes for 2020. *With domestic output on a long-term downward trend, Thailand has little choice but to increase LN...
Volume: 65Issue: 10Published at Fri, 11 Mar 2022 -
Turkey Crude Imports: Iraq Soars Past Russia For 2020 Top Spot
...*Iraq was way out in front as top crude supplier to key Mediterranean importer Turkey for 2020. The 236,000 b/d Turkey took from Iraq was not only a record and up 24% on 2019, but the highest volume that Turkey has taken from any single supplier ever – beating 229,000 b/d from Iran in 2017 (se...
Volume: 64Issue: 10Published at Fri, 12 Mar 2021 -
Houthis Step Up Siege On Aramco Energy Infrastructure
...rt of a regional tour, during which he met with Saudi Foreign Minister Prince Faisal bin Farhan. During the talks, Prince Faisal said that Riyadh will take “necessary deterrent measures to protect its national resources,” hinting that the kingdom could pursue its plans from 2017 to purchase Russian S-...
Volume: 64Issue: 10Published at Fri, 12 Mar 2021 -
Adnoc & Petronas Ink Wide-Ranging Partnership Deal
...reements were reached during the visit to the UAE of Malaysian Prime Minister Tan Sri Muhyiddin Yassin. Trade relations between the two countries are on the rise, although they’ve not been without their turbulence. Abu Dhabi state firm IPIC, which was merged into Mubadala in 2017, was previously embroiled in...
Volume: 64Issue: 10Published at Fri, 12 Mar 2021 -
Saudi Oil Export Revenues Down 40% For 2020
...oking ahead to 2021 as a whole, a relatively conservative estimate would peg oil export revenues at slightly more than $150bn, putting them broadly in line with 2015 levels. However, 2017’s $170.2bn remains an attainable target, which if achieved would greatly ease the financial pressure on Saudi Aramco as...
Volume: 64Issue: 10Published at Fri, 12 Mar 2021