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Pipeline Closure Brings KRG Oil Sector To Standstill
...CLINE Kurdistan’s independent oil sector had been growing increasingly ragged in recent years. The late-2014 oil price collapse dealt a fatal blow to many oil exploration and development projects, while Baghdad’s move to reclaim oil fields around Kirkuk following the KRG’s controversial 2017 in...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Oman Offers Three Blocks In New Bid Round
...: TIGHT GAS PLAY Until recently, the 1,400km2 Block 15 was operated by local firm Hydrocarbon Finder, which drilled two wells in 2017. These produced approximately 44,000 barrels during an extended well test. The firm said that its first exploration well, Ataya-1, was successfully dr...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Mauritania Exploration: Down To Four Blocks As Shell Concentrates Focus, Plans Wildcat
...analysis reiterated by the Mauritanian officials. This is perhaps not surprising given that the block surrounds the only Mauritanian oil field ever to have reached production – Chinguetti, which briefly produced 70,000 b/d following 2006 start-up before output rapidly declined and halted in 2017...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Kuwait Oil Expansion Gets $1bn Japan Boost
...rkover rigs throughout its fields.” This is considerably more than the one-year high 28 active rigs shown in the Baker Hughes Rig Count for February. According to KOC’s annual reports, drilling and workover activity peaked in 2017-18 with 672 new wells drilled and over 1,500 workover operations. This ha...
Volume: 65Issue: 13Published at Fri, 01 Apr 2022 -
Iraq & Total Reach Initial Deal On $7bn Of Projects
...ogress. Still, Total should fare better than US firms with any such administration, especially as it has proven willing to work with Iran through signing up to develop Iran’s South Pars Phase 11 project in 2017 (MEES, 7 July 2017), even if ultimately it withdrew in 2018 due to US sanctions (MEES, 24 Au...
Volume: 64Issue: 13Published at Fri, 02 Apr 2021 -
Exxon Plans 2021 East Med Drilling
...so plans to keep the purse strings tight this year (MEES, 5 February). But this has not stopped it following through on East Mediterranean expansion. The major only entered the region in early 2017 when it snagged Cyprus’ Block 10 in partnership with Qatar Petroleum (Exxon 60%op, QP 40%: MEES, 24 Ma...
Volume: 64Issue: 13Published at Fri, 02 Apr 2021 -
BP Write Offs: $2.3bn For Mauritania/Senegal, $950mn For Egypt
...BP’s recently-released 2020 report reveals that the major last year wrote off $2.26bn on its gas assets off Mauritania and Senegal as well as $952mn for Egypt. The Egypt figure appears to relate to the major’s share of the $12bn West Nile Delta project where output since 2017 start-up has ma...
Volume: 64Issue: 13Published at Fri, 02 Apr 2021 -
Algeria’s Sonatrach Halves Planned 2020 Spending
...re just $62bn, less than a third of the 2014 peak. Many in Algiers seem to have convinced themselves that oil prices in 2015 (then 2016, then 2017…) were unusually low and would revert to ‘normal’. But far from being ‘rainy days’ this period now looks like the calm before the storm. While many lo...
Volume: 63Issue: 13Published at Fri, 27 Mar 2020 -
Oman: Struggling To Cope With Too Much Gas?
...ock 61 (BP 60%, state Oman Oil Company 40%) started production in September 2017 and hit full Phase-1 output of 1bn cfd earlier this year. MEES estimates this will boost Omani gas output by 20% in 2018 (MEES, 29 September 2017). BP this month took a final investment decision (FID) on the 500mn cfd Ph...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
Egypt: Key West Nile Delta Project Set For Start-Up
...an [in] the summer,” Mr Dudley told the firm’s 7 February Q4 earnings call. “The wells in the Taurus and Libra fields are close to coming onstream. Production in West Nile Delta is scheduled for the second quarter of 2017,” RWE says. The Taurus and Libra fields constitute the 600mn cfd Phase 1 of th...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Algeria Keeps Oil Spending Flat, Extends Exploration Search Offshore
...Algerian state oil firm Sonatrach has announced an eye-catching $50bn planned five year upstream spend for 2017-21. The figure is a slight increase on that for the most recent five-year plan, but a significant reduction compared to previous years. Once plans to spend about $5bn/year do...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Ta-Ta Taq Taq: Demise of Key Kurdish Field Weighs On KRG Exports
...port blend in February, it will still have grown heavier over the past year. KRG output averaged around 543,000 b/d last year and despite the Taq Taq woes, the KRG ought to exceed this in 2017, if only because a February-March 2016 pipeline outage hit last year’s figures. Absent similar outages th...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Saudi: Key Gas Start-Ups Increase Oil Field Flexibility
...wec) Oil 0.16 2016 Shuqaiq (SEC) Oil 2.64 2017 PP13 (SEC) Gas 1.65 2017...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Adco Trail Goes Cold Amid Stand-Off With BP, Shell
...pected to rise to at least 180,000 b/d from 2017, when Adco’s total production reaches a long-standing target of 1.8mn b/d. Total’s head of Middle East and North Africa operations, Stephane Michel, told MEES in February that the length of the concession and the improved per-barrel fee, reported to ha...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Lukoil’s West Qurna-2 Start Will Add To Iraq Oil Output Gains
...koil was originally awarded a 20-year TSC to develop West Qurna-2 in 2010, when the ministry had set far higher plateau production targets (PPTs). Under the initial contract, output was set to rise to 1.8mn b/d by 2017 and be maintained for 13 years for a fee of $1.15/B. The oil ministry, which had or...
Volume: 57Issue: 13Published at Fri, 28 Mar 2014 -
Israel: Gas Boom Targets Turkey
...ISRAEL/TURKEY Israel: Gas Boom Targets Turkey With the 19 tcf Leviathan field set for 2017 start-up and bids received from Turkey to import Israeli natural gas this week, Israel’s energy sector is set for a boom. Over 10 bids were submitted this week in a tender by...
Volume: 57Issue: 13Published at Fri, 28 Mar 2014 -
Baghdad Refocuses Oil Industry Priorities
...schedule is ambitious. “We reckoned on Q3 2018 optimistically. And Q3 2019 realistically,” notes one executive. “2017 is doable. That I don’t deny. The difference between our projection and CH2M Hill’s is down to the time taken to approve contracts. If the Iraqis don’t change, then I can’t see how 2017...
Volume: 56Issue: 13Published at Fri, 29 Mar 2013