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Oman State Upstream Firm Targets 2025 Growth Via Acquisitions & Upgrades
...cond onshore block OQEP operates after Block 60. OQEP signed an exploration and production sharing agreement for Block 60 back in 2011. By 2014 it brought online the Abu Tabul tight gas field (MEES, 23 January 2015) where output averaged 20.1mn cfd for 1H 2024. This was followed by the discovery of the Bi...
Volume: 68Issue: 11Published at Fri, 14 Mar 2025 -
Libya’s Mega 2025 Bid Round 2025: 22 Blocks, 235,000 km2, 1.6bn boe
...ins on the back of increased drilling activity have renewed interest in the sector. Spain’s Repsol and Austria’s OMV, as well as Italy’s Eni, recently resumed drilling in Libya for the first time since 2014 (MEES, 1 November 2024), with the former two optimistic about further gains in 2025 (MEES, 28 Fe...
Volume: 68Issue: 11Published at Fri, 14 Mar 2025 -
Egypt Eyes Takers For Undeveloped Offshore Gas Finds
...05tcf. Notus is the third undeveloped gas discovery of Cluster 2, made in the Oligocene. Drilled in 2013 to a total depth of 7,200ms by UK firm BG (since taken over by Shell), gas in place is estimated at 1.22tcf by EUG. In 2014 BG filed a development plan for Notus but stated that moving forward wa...
Volume: 68Issue: 11Published at Fri, 14 Mar 2025 -
Petrofac Shut Out Of Key Abu Dhabi Market
...eas in January by a former Petrofac employee [former sales chief David Lufkin] under the Bribery Act 2010 in relation to historic contract awards in the UAE in 2013 and 2014.” The SFO says that the specific contracts were for the 2013 engineering, procurement and construction (EPC) contract for th...
Volume: 64Issue: 11Published at Fri, 19 Mar 2021 -
Shell Boosts Egypt Gas Output, Retains LNG Force Majeure
...llapse (see chart). Shell long stalled on new investment in Egypt due to a dispute over monies owed by state firm EGPC and the diversion of its gas output from LNG exports to the domestic market (MEES, 31 January 2014). But early last year it reversed course and sanctioned the 10-well Phase 9B de...
Volume: 62Issue: 11Published at Fri, 15 Mar 2019 -
Kuwait: IEA Pessimistic
...2024 at least. Stagnation is at least still better than the IEA’s pre-2016 projections when it routinely expected Kuwaiti capacity to trend downwards. In 2014, the organization said that due to political opposition to IOCs operating in the upstream sector, “capacity looks set to decline by 41...
Volume: 62Issue: 11Published at Fri, 15 Mar 2019 -
Eni Swoops For Abu Dhabi Offshore, Sells Mubadala 10% Of Egypt’s Zohr
...an in 2009, but made the decision to hand over the Darquain field in 2010 (MEES, 10 May 2010), completing the process in 2014. Eni signed an MoU in June 2017 to study boosting Darquain output from 150,000 b/d currently to 220,000 b/d, and for the Kish offshore gas field where Iran is targeting 2bn cf...
Volume: 61Issue: 11Published at Fri, 16 Mar 2018 -
Libya Oil Gains Go Into Reverse
...C officials, way below 300,000 b/d capacity but the highest level since Q4 2014. It was initially cut by 35,000 b/d due to concerns over limited storage capacity and the events unfolding at the Es Sider terminal before production halted completely on 9 March. Waha was offline between December 2014 an...
Volume: 60Issue: 11Published at Fri, 17 Mar 2017 -
KRG Pipeline Politics: Ankara-Baghdad Balancing Act Looks Increasingly Perilous
...ntracts as an offset against 2014-15 prepayments (MEES, 11 March 2016). However, even the month’s $304mn in payments was more than the value of crude exported based on MEES calculations which presume a 30% discount to Brent (see graph). The export pipeline is back up and running, leaving 20 complete da...
Volume: 59Issue: 11Published at Fri, 18 Mar 2016 -
Keystone Cops It From KRG Revenue Collapse
...bt rather than because it feels Sheikh Adi is not economically viable, GKP tells MEES. Revenue rose from $38.6mn in 2014 to $86.2mn last year, while operating costs fell by around a third from $7bn to $5bn. However, the Sheikh Adi impairment propelled GKP to an after-tax loss of $135mn, down fr...
Volume: 59Issue: 11Published at Fri, 18 Mar 2016 -
Saudi Draws Down Stocks, Boosting Exports, Runs To Near Record Levels
...7,000b/d. • Both Yasref and the similarly–sized Satorp joint venture refinery with Total, which reached full capacity in 2014, were built with diesel exports in mind – particularly to Europe. January’s gross diesel exports of 567,000 b/d were also a record, inching above the 566,000 b/d set in May 2015. Net di...
Volume: 59Issue: 11Published at Fri, 18 Mar 2016 -
Iran Beats The Odds With 20% Gas Output Hike
...tal output, in the current Iranian year (21 March 2014 – 20 March 2015). Incremental output from phases 15, 16, 17 and 18 – four of the 13 South Pars phases under development (beyond phase 12) – and phase 1 of the offshore 45.8 tcf Kish gas field nearby, make up the remainder of the in...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
KRG Keeps The Faith With Baghdad But Cash Still Short
...cember agreement that broke the deadlock which in 2014 deprived both sides of much needed cash, the KRG agreed to drop its earlier objections and allow SOMO to market 250,000 b/d of its oil in return for 17% of federal sovereign expenses, plus an additional $1bn contribution to salaries of Kurdish Pe...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
Kuwait To Invite IOCs To Bid On Expansion Projects
...impact on Chevron’s operations while a separate disagreement over how to proceed with the offshore Dorra gas field, part of which is also claimed by Iran (MEES, 4 July 2014), has frozen efforts by both countries to boost their gas production. The Neutral Zone is split 50:50 between Kuwait and Sa...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
Aramco Completes Red Sea Drilling, Touts Discoveries
...SAUDI ARABIA Aramco Completes Red Sea Drilling, Touts Discoveries Saudi Aramco discovered eight new oil and gas fields and produced a record volume of gas in 2014, CEO Khalid al-Falih says. Mr Falih, speaking to Reuters earlier this month, gave no further details nor did he say wh...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
Kurdish Oil Output Set To Rise But Exports Elusive
...ducting the total value of the 400,000 b/d that it says the KRG pledged to export in 2014. The dispute has delayed passage of the federal budget in parliament, putting a strain not only on the semi-autonomous region’s finances but affecting projects in other provinces and governorates as well. In the KR...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
Cyprus Looks To Drilling Uptick To Boost LNG Plans
...d-14 2 *Eni 80% Kogas 20% Drilling planned 2H 2014 3 Eni 80% Kogas 20% Drilling planned 2H 2014 9 Eni 80% Kogas 20% Drilling planned 2H 2014...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
$1.75bn Tamar Deals
...tash Company and the Jordan Bromine Company to supply them with 1.9 bcm of Tamar gas from 2016 for use at their Dead Sea facilities (MEES, 21 February 2014). Tamar, discovered in 2009, last year began supplying Israeli industry with natural gas. Currently production is 750mn cfd. A $220mn, 200mn cf...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
MENA Active Drilling Rigs February 2014*
...MENA Active Drilling Rigs February 2014* February 2014 br...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
IOCs Scramble To Meet New UAE Oil Minister
...pact its energy industry for decades. Options include: breaking it up into individual fields; reducing consortium members’ equity; and adding new shareholders. ADCO’s concession expires in January 2014. It is owned by ADNOC (60%), BP (9.5%), Total (9.5%), Shell (9.5%), ExxonMobil (9.5%) and Po...
Volume: 56Issue: 11Published at Fri, 15 Mar 2013