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Iraq’s Akkas & Mansuriya Fields: Back On Offer
...railed by the rise of the Islamic State (IS)terrorist group (MEES, 25 October 2010). Both are located in areas that were either occupied or threatened by IS in 2014 (see map), and firms continue to cite security concerns at the sites. Nevertheless, Oil Minister Hayan Abdulghani says Akkas and Ma...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Egypt’s Cheiron & Kufpec Eye 25,000 B/D Gulf Of Suez Boost
...erall production edged up from 2021’s multi decade low to 568,000 b/d for 2022 (MEES, 3 March), Gulf of Suez output fell again to just 122,000 b/d, the lowest in over a decade. If GNN ramps up as planned this could potentially raise Gulf of Suez output back to 2014 levels of 143,000 b/d. Cheiron op...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Basrah Gas Proposals Risk Undermining TotalEnergies Megadeal
...d Zubair fields which were awarded in Iraq’s first licensing round (LR1) in 2009 is now unattainable after their production plateau targets (PPT) were revised down in 2014 (MEES, 5 September 2014). As a result BGC wants to expand the scope of its operations beyond this trio of fields. But de...
Volume: 65Issue: 13Published at Fri, 01 Apr 2022 -
Algeria’s Sonatrach Halves Planned 2020 Spending
...ss cash to spend. This is truer this time around than the 2014 oil price crash when Algeria had a record $195bn in foreign reserves saved for a rainy day (MEES, 7 February). Algeria has been rapidly drawing this down as if recent years were as bad as things could get – by the end of 2019 reserves we...
Volume: 63Issue: 13Published at Fri, 27 Mar 2020 -
Oman: Struggling To Cope With Too Much Gas?
...n-Feb18 vs 17 Jan-Feb17 2017 vs 16 2016 2015 2014 20...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
Egypt: Key West Nile Delta Project Set For Start-Up
...r field (see box) and the rapid ramp-up in output at Eni/BP’s Nooros in the shallow waters of the Nile Delta to 875mn cfd within six months of July 2016 start up, should boost Egyptian gas production over 5bn cfd by Q3 for the first time since January 2014. February output was 4.41bn cfd (MEES, 24 Ma...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Algeria Keeps Oil Spending Flat, Extends Exploration Search Offshore
...wnstream are added in, the total spending program comes out at about $75bn. Sonatrach’s headline figure for its 2016-20 five-year plan was $73bn, but for 2015-19 it was $90bn and for 2014-18 it was $100bn (MEES, 17 February). Sonatrach upstream VP Salah Meknouche made the most of what was essentially a sp...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Ta-Ta Taq Taq: Demise of Key Kurdish Field Weighs On KRG Exports
...15 2014 Tawke 110.0 2.7 107.3 135.2 91 Taq Ta...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Saudi: Key Gas Start-Ups Increase Oil Field Flexibility
...les gas. The high sulfur content contributed to delays in bringing the projects to fruition (MEES, 7 November 2014). Production from the two non-associated gas fields was initially slated for 2014, but the Arabian Sun comments indicate it is finally ready to begin. Aramco CEO Amin Nasser told the ma...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Kuwait Oil Sector Receives Triple Boost
...ich shares the PNZ with Kuwait, to begin limited production at the offshore 300,000 b/d Khafji field. Khafji is jointly operated by Kuwait Gulf Oil Co (KGOC) and Aramco Gulf Operations. Prior to Saudi Arabia unilaterally halting production in October 2014, ostensibly over environmental concerns, pr...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Adco Trail Goes Cold Amid Stand-Off With BP, Shell
...% from $26.4bn in 2014 to $23-24bn and reduce its exploration budget by 30%. It saw the Adco concession as an opportunity that was worth the entry cost. It made a commercial offer commensurate with the benefit of locking in long term supplies in one of the most stable countries in the Middle East. It...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Egypt Lays More Foundations For Gas Output Growth
...ount secured in other recent deals (see table), Dea’s latest gas price represents a substantial hike on the $2.50/mn BTU it currently receives for Disouq gas. Output started up in September 2013, and hit current levels in August 2014 (MEES, 29 August 2014). State gas firm, EGAS began renegotiating re...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
EGYPT KEY TO KUWAIT ENERGY’S FORTUNES
...st Ras Qattara permit in the Western Desert in which KEC holds a 49.5% working interest and is operated by Chilean state firm ENAP. Fourth quarter production at East Ras Qattara reached around 25,000 b/d, with four new development wells brought on during the course of 2014. The two wells brought on du...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Iraqi Oil Output Plunges As Pressures Mount
...tra oil has been sold and we are only giving it back to the contractors who had bought it,” Mr Hawrami explained. The dispute over exports intensified in 2014 when the KRG began exporting its crude without federal approval. Mr Hawrami says that even if he accepted Baghdad’s argument that the KRG is...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Lukoil’s West Qurna-2 Start Will Add To Iraq Oil Output Gains
...ght crude to market independently in 2014 with the figure rising to 88mn barrels (240,000 b/d) in 2015. The company has said previously that it planned to sell crude from West Qurna-2 to customers in China and more widely in the Asia-Pacific region through its Geneva-based marketing arm Litasco. Lu...
Volume: 57Issue: 13Published at Fri, 28 Mar 2014 -
IMF Predicts 2014 Boost For Iraqi Economy
...IRAQ IMF Predicts 2014 Boost For Iraqi Economy The IMF said in a statement on 25 March at the conclusion of discussions with Iraqi officials in ‘Amman that while Iraq had managed to maintain macro-economic stability in 2013, lower-than-expected oil export revenues and hi...
Volume: 57Issue: 13Published at Fri, 28 Mar 2014 -
Petrofac $1B Oman Deal
...d of sweet sales gas and 61,000 b/d of condensate, as well as 565mn cfd of sour gas to be used for oil field reinjection at Harweel. Harweel production hit close to 30,000 b/d in 2013, and is expected to boost throughout 2014 and 2015 to hit peak production of 38,000 b/d. This award is the co...
Volume: 57Issue: 13Published at Fri, 28 Mar 2014 -
Baghdad Refocuses Oil Industry Priorities
...rgets has been postponed, but nevertheless Baghdad is still pushing hard for near-term growth, aiming for average 2013 crude exports of 2.9mn b/d, up almost 600,000 b/d on last year, and it is targeting 2014 output of 4.5mn b/d, compared to just over 3mn b/d last year. Iraq added significant pr...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013