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ARA PetroleumTargets 30,000 boe/d Oman Output
...aller firms such as CCED, Medco and Tethys. One player which often escapes the limelight is Omani independent E&P firm ARA Petroleum which operates three assets in the country. ARA was founded in 2014 by parent company Al Zubair, formally known as Muscat Trading Company. The firm specializes in “un...
Volume: 66Issue: 10Published at Fri, 10 Mar 2023 -
Egypt Oil Output To Fall As Key Producer Apache Slashes Investment
...stain… cashflow” rather than raise output. With fewer rigs and lower capex, Apache plans to drill 40% fewer wells in Egypt this year. For 2019 it plans 70 wells, 30 exploration and 40 development, down from 115 for 2018. This in turn is well down on the 2014 peak of 220. Of 2018 wells, 45 were ex...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Total Expands In Libya With Marathon Waha Purchase
....33% partner ConocoPhillips 45,000 b/d each. Hess has 8.16% with Libya’s National Oil Corporation (NOC) the remainder. Though output was shut in for two years from late 2014, it has since rebounded strongly, averaging 210,000 b/d for the last quarter of 2017 and 120,000 b/d for the year as a whole, ne...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018 -
Apache Turns To Egypt For Bargain Barrels Amid Capex Cuts
...are of Apache’s overall capex is set to soar to 23% this year from 16.1% in 2015 and 10.3% in 2014. This marks a sharp reversal for a firm which in recent years had shifted its focus to US shale at the expense of Egypt: the country’s share of Apache capex halved between 2009 and 2014. This came as th...
Volume: 59Issue: 10Published at Fri, 11 Mar 2016 -
Dea Looks To Expand With $10Bn War Chest
...st year amid deteriorating EU-Russia relations, despite the fact that neither Mr Fridman nor other L1 partners were on a list of sanctioned individuals (MEES, 29 August 2014). Mr Fridman plans to use L1 as an investment vehicle in the energy and telecommunication sectors. His Alpha Group was BP’s Ru...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
BP Still Owed $2.3Bn In Egypt
...an the 14% average fall in international oil companies’ (IOCs) Egyptian receivables during 2014 (see table). Total IOC dues, at $5.44bn, are down by almost $900mn from $6.3bn a year earlier, and a peak of over $8bn in mid-2014. Egypt itself gives a lower figure of $3.1bn for total receivables (on...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
BP Slashes $700mn From Egypt Receivables
...mporary.” BP says is has secured an extension to September 2014 for its appraisal and exploitation agreement for the Bourarhat Sud block southwest of In Amenas. In an indication that the post-In Amenas security fallout is far from over, BP took the security-related decision to suspend activity at Bourarhat in...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
TAQA Buys More Indian Hydro, CEO Steps Down
...ctor Pension Investment Board has 39% and Indian private equity firm IDFC Alternatives 10%. The acquisition is expected to close in 2014, subject to regulatory and third party approvals. The Baspa Stage II and Karcham Wangtoo plants in the northern state of Himachal Pradesh have combined generating ca...
Volume: 57Issue: 10Published at Fri, 07 Mar 2014 -
Independents To Drive Oman’s 2013 Output Boost
...ys. “This will have the objective of framing all Block 5 reserves and resources, allowing Daleel to develop a drilling plan supported by a fifth and six rig as from 2014 to produce the bulk of the reserves within the concession period, namely end-2028.” Petrogas also operates the Rima cluster of small fi...
Volume: 56Issue: 10Published at Fri, 08 Mar 2013