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Kuwait & Saudi To Develop Joint Offshore Dorra Gas Field
...oduction from the offshore portion was halted in 2014, and the onshore portion in 2015, due to disagreements between the two and only resumed in February 2020 (MEES, 28 February 2020). PNZ exports have since recovered to around 250,000 b/d according to data intelligence firm Kpler, well below the notional 50...
Volume: 65Issue: 12Published at Fri, 25 Mar 2022 -
Algeria Struggles To Maintain Gas Output Amid Project Delays
...spective IOCs. All are delayed. As for Tinhert, which Sonatrach listed in 2014 as a 2016 start-up and in 2015 as January 2018 (MEES, 29 May 2015), Sonatrach is keen to gain the credit for developing a seemingly large project of its own volition. But, whilst the headline numbers look big, it is de...
Volume: 61Issue: 12Published at Fri, 23 Mar 2018 -
East Med Deepwater Exploration: In Search Of ‘More Zohr’
...mpatriot Edison. A detailed map in Eni’s latest annual report also shows the field itself rubbing up against the Edison block, whilst other maps – including ones produced by Eni – have shown the field actually crossing the line. Although Edison was awarded North Port Fouad in September 2014, the same ye...
Volume: 60Issue: 12Published at Fri, 24 Mar 2017 -
Aramco IPO Valuation: The Devil Is In The Detail
...lman, who is the key driver behind the much-vaunted Vision 2030 economic diversification plan, has estimated Aramco’s value at $2 trillion. This means its IPO would raise around $100bn, dwarfing the $25bn secured by Chinese internet retailer Alibaba in the world’s largest IPO in 2014. Fu...
Volume: 60Issue: 12Published at Fri, 24 Mar 2017 -
Eni Greenlights Egypt’s Zohr
...ducing its average breakeven price of new projects to $27/boe from $45/boe in its previous plan. The firm’s baseline price assumption is somewhat higher at above $60/B for 2018-19. With prices at this level no divestments will be needed, it says. Between 2012 and 2014, Eni “completed divestments” of €17...
Volume: 59Issue: 12Published at Fri, 25 Mar 2016 -
KRG Production Set To Fall In 2016
...timates at its key Taq Taq field earlier this month was a hammer blow to the region. Rather than being at the forefront of efforts to ramp up production, Genel’s latest projections have the field producing below 2014 levels this year (MEES, 4 March). And even those projections depend on investments that co...
Volume: 59Issue: 12Published at Fri, 25 Mar 2016 -
Iran, Saudi Arabia Main Drivers Of Opec NGLs Outlook
...ency notes that the 275,000 b/d Shaybah NGL development, which will supply feedstock to the domestic market, was originally scheduled for 2014, but is “running more than a year behind schedule due to technical issues.” The differential between the 165,000 b/d forecast increase in Saudi NGLs and the 27...
Volume: 59Issue: 12Published at Fri, 25 Mar 2016 -
Libya: Competing Power Bases Threaten To Tear NOC Apart
...e interest of the state and the Libyan people,” it said, and it reserved the right to hold those in breach as “criminally liable.” It is the third warning issued by NOC in Tripoli against illegal oil trades, the most recent being on 27 November 2014 (MEES, 28 November 2014). UNOFFICIAL TR...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
New Israeli Government Tasked To Revive Israel’s Offshore Activities
...lek on 18 March firmed up an earlier LOI which will see 5 bcm of gas delivered to private Egyptian firm Dolphinus over three years, via the unused East Mediterranean Gas (EMG) pipeline (MEES, 24 October, 2014). The partners estimate the deal “could amount to $1.2bn, based on the buyer consuming th...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
Kurdish Oil Output Edges Up But Cash Still Tight
...expects the book equity ratio to fall below 0.4% when it announces its 2014 financial results in April, as a result of the impairment of the Akri Bijeel asset in the Kurdistan region. GKP would be required to buy back the notes should the BER remain below 0.4% for 60 days after the results are re...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
ENOC In First Step Towards Possible Dragon Takeover
...ne last year and the knock-on effect on company valuations. Dragon’s main producing asset is the Cheleken concession in Turkmenistan, where the company reported a 6.8% increase in average gross production to 78,790 b/d in 2014, with 14 wells completed. The company said in its annual report fo...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
The KRG Blinks First In Oil Dispute With Baghdad
...IRAQ The KRG Blinks First In Oil Dispute With Baghdad The Iraqi Parliament held a first reading of the stalled 2014 federal budget despite a Kurdish boycott, but a second reading has not been scheduled, suggesting the legislature may struggle to pass the budget bill before Ap...
Volume: 57Issue: 12Published at Fri, 21 Mar 2014 -
Shell Awards Majnoon Oil Deal, Gas Still A Problem
...ree Misan fields of Fakka, Abu Gharb and Bazergan to 220,000 b/d by the end of 2014 from 135,000 b/d, the Iraqi Nina News service reported on 18 March. It quoted the company’s director general ‘Ali al-Bahadli, as saying that the operator plans to drill 39 new wells in the three fields and build an ex...
Volume: 57Issue: 12Published at Fri, 21 Mar 2014 -
BG Sanctions WDDM Phase 9a Following Payments Deal
...rried out from the second to the fourth quarters, 2014....
Volume: 56Issue: 12Published at Fri, 22 Mar 2013