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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 -
US Output:2019 Sees Slew Of Records But 2020 Forecasts Scaled Back
....23mn b/d for 2019, some 1mn b/d ahead of number two Russia (MEES, 3 January), with Saudi Arabia on 9.75mn b/d in distant third spot. The 1.24mn b/d (11.3%) of output gains that US producers notched up in 2019 were the third highest on record, behind 2018’s phenomenal 1.64mn b/d rise and 2014’s 1....
Volume: 63Issue: 10Published at Fri, 06 Mar 2020 -
Chevron Downplays PNZ Ramp-Up…
...vels prior to the shut in of the offshore Khafji field in 2014 and onshore Wafra in 2015. But US major Chevron, which operates the Saudi portion of the Wafra field, is much less bullish. The major, in the operations supplement to its 2019 annual report released this week, says it expects “ramp up to...
Volume: 63Issue: 10Published at Fri, 06 Mar 2020