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Egypt: Apache Eyes Gas Gains As Eni Output Slumps
...ES, 17 October 2014), Egypt returned to (joint) top billing in Apache’s Q4 results on 27 February. The US independent says it is “building a sustainable base, anchored by [the] Permian and Egypt.” Following a late-2024 agreement that brings “gas-focused investment to economic parity with oil,” by hi...
Volume: 68Issue: 10Published at Fri, 07 Mar 2025 -
Libya Upstream Enters ‘New Era’ With Launch Of Long-Awaited Bid Round
...aly’s Eni, recently resumed drilling in Libya for the first time since 2014 (MEES, 1 November 2024). ‘LIBYA IS BACK’ Ç In a televised event in Tripoli, acting NOC chief Massoud Suleiman launched the bid round, saying it marks the end of 17 years of “neglect” of Libya’s resources and “ye...
Volume: 68Issue: 10Published at Fri, 07 Mar 2025 -
Libya Gas Exports At 13-Year Low
...BYA’S ANNUAL GAS EXPORTS TO ITALY: 2023’s VOLUMES WERE ALREADY A POST-REVOLUTION LOW (MN CFD) *ENI LOWERED ITS OFFICIAL CAPACITY FIGURE FROM 11BCM/T TO 8BCM/Y IN 2014. SOURCE: SNAM, ENI, MEES. 3: ENI'S MELLITAH* GAS OUTPUT IS SET TO FALL BUT WILL GET MID-DECADE BOOST FROM BOURI THEN ST...
Volume: 67Issue: 10Published at Fri, 08 Mar 2024 -
Baghdad’s New Contract Model: Can It Reverse IOC Exodus?
...rdistan, where Production Sharing Contracts (PSCs) were on offer, despite Baghdad threatening to blacklist any firms which signed deals with the KRG (MEES, 12 September 2014). Lack of interest in new acreage was just the beginning. Things soon deteriorated further, with IOCs beginning to exit the co...
Volume: 66Issue: 10Published at Fri, 10 Mar 2023 -
Chariot Advances Morocco Gas Development Plan
...her nearby leads on the Lixus permit could take reserves to 6tcf. Spain’s Repsol discovered Anchois back in 2009, before declaring it uneconomic and relinquishing the acreage in 2014. Repsol’s discovery formed part of a surge of exploration interest in Morocco’s ‘Atlantic Margin’ that petered ou...
Volume: 66Issue: 10Published at Fri, 10 Mar 2023 -
Petronas To Exit Egypt: LNG & Upstream Stakes On The Block
...ar dispute between Cairo on one side and Shell (formerly BG) and Petronas on the other (MEES, 21 January 2014). Though Shell sought to calm the waters with a return to investment in 2018 (MEES, 23 March 2018), this remains a live issue. The major’s freshly-released 2021 annual report flags up as...
Volume: 65Issue: 10Published at Fri, 11 Mar 2022 -
Dana Petroleum Quits Key Egypt Assets
...it Bay, South October and South Wadi Dara – as well as 30% of the Eni-operated West Abu Gharadig in the Western Desert. The firm also retains 100% stakes in two Upper (southern) Egypt exploration concessions, West Dakhla-1 and -2, which it signed up for in December 2013 (MEES, 3 January 2014). PO...
Volume: 65Issue: 10Published at Fri, 11 Mar 2022 -
Shell Sells Egypt Western Desert Assets To Cairn & Local Firm Cheiron
...ploration, with Shell and Apache securing a deal that would have paid them $4.60/mn BTU for shale gas production from the acreage (MEES, 19 December 2014). This compares to the $2.65/mn BTU paid for all current onshore gas output, including that of Shell. The three exploration blocks – South East Horus, We...
Volume: 64Issue: 10Published at Fri, 12 Mar 2021 -
Egypt LNG Exports At 9-Year High Amid Seasonal Buying Bonanza
...rst made these claims at the start of 2014 they were somewhat spurious: MEES number-crunching at the time showed that, whilst Cairo had indeed diverted gas to the domestic market, output decline was the primary reason for BG’s failure to meet export commitments (MEES, 7 February 2014). With WDDM ou...
Volume: 64Issue: 10Published at Fri, 12 Mar 2021 -
Egypt Eyes Long-Awaited Oil Output Hike As Apache Plans Capex Boost
...en immune to the decline. The company slashed Egypt capex in the wake of the late-2014 oil price collapse: by 2016 spending of $477mn was just 35% of the 2014 figure. And the 2019 spend was lower still at $465mn, though at least lower costs mean that Apache got more wells for its buck (75 vs 60 for 20...
Volume: 63Issue: 10Published at Fri, 06 Mar 2020 -
Algeria’s Hassi Messaoud Gets Boost, More To Come
...ude output, which came in at 1.03mn b/d for 2019 and 1.01mn b/d in February (see p9). Like most projects in Algeria, the new compression and reinjection facilities have been dogged by delays. Awarded in June 2014 to Dubai-based Dodsal Engineering, the AD50bn ($635mn) project initially had a 36...
Volume: 63Issue: 10Published at Fri, 06 Mar 2020 -
Gas Project Set To Hike Eni’s Algeria Output
...mpany has a chance of topping its Algeria output record of 109,000 boe/d set in 2014. For 2018, the latest available data, Eni’s net Algeria production was 85,000 boe/d. But this still might not be enough to prevent the Italian firm from losing its No.1 foreign producer crown to Total, though this is...
Volume: 63Issue: 10Published at Fri, 06 Mar 2020 -
Tunisia’s Nawara Gas Project: Too Little Too Late?
...wara is set to add will only boost Tunisia’s overall output to around 250mn cfd – lower than it was in 2014 when FID was taken on Nawara (see chart 1). But make no mistake, the added volumes will provide much needed relief to Tunisia which in 2018 was reliant on 371mn cfd of imports from Algeria to me...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Iran’s South Pars Gas Development Edges Forward
...nganeh visited China for talks in late February, but doesn’t appear to have achieved any notable success. Deja vu given that Iran axed CNPC’s contract for South Azadegan in 2014 due to the firm’s slow progress during the previous round of US sanctions (MEES, 9 May 2014). When Total and CNPC signed up to...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Egypt Oil Output Slump To Continue. Import Dependence To Deepen
...17 However, Egypt’s oil demand actually fell for the first time in six years in 2017, to 811,000 b/d from a record 852,000 b/d in 2016 according to data posted to the Riyadh-based Joint Organizations Data Initiative (Jodi). Both the 2017 fall and the sharp rise in 2014, 2015 and 2016 – a cumulative 90...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018 -
Asian LNG Imports Hit Record High In 2016; Global Supply Glut Yet To Come
...p 5’ reached 175.1mn tons in 2016, up 4.7% on 2015’s 167.5mn tons and 1.2% above the previous record of 173mn tons set in 2014. The record came despite Japanese demand falling and that from Korea remaining stagnant in 2016. Buying was supported by nuclear plant outages especially in Korea and st...
Volume: 60Issue: 10Published at Fri, 10 Mar 2017 -
Iraqi Kurdistan Seeks Financial Assistance As Oil Revenues Plunge
...cluded $100mn from a new prepayment commitment” but “there was also an amount of $43,200,644 set off by the buyers against 2014/2015 prepayments.” The report also shows the pipeline outage contributed to the KRG falling short of its contractual obligations by 8.2mn barrels in February. Buyer A was sh...
Volume: 59Issue: 10Published at Fri, 11 Mar 2016 -
Japanese Condensate Imports Fall In 2015, But Iranian Volumes Up, Near 50% Of Total* (‘000 B/D)
... 2011 2012 2013 2014 2015 Qatar 154.3 151.7 188 13...
Volume: 59Issue: 10Published at Fri, 11 Mar 2016 -
A Tale Of Two Libyas As Jihadists Step Up Oil Field Attacks
...quest of NOC after coastal export facilities were blockaded. Production resumed from As Sarah on 22 September 2014, at a rate of about 35,000 b/d, but the field has been shut in since 21 December, when NOC again declared force majeure due to fighting near the export ports and renewed blockades. As Sa...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Oxy Angling For Adco Stake In Gulf Divestment U-Turn
...ould Shell and BP bow out. OCCIDENTAL PETROLEUM: MENA PRODUCTION (NET) 2014 2013 ‘000 b/d mn cfd ‘000 boe/d ‘00...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015