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  1. Eni Revises Up Zohr Reserves But Output Decline Continues

    ...ar-on-year, gives cumulative production since the field started up in late 2017 of 5.34tcf, implying an original recoverable resource of 9.84tcf (see chart 1). Zohr’s slump has been the key driver in Egypt’s overall gas output decline, with the field making up 37% of last year’s eight-year low 4....

    Volume: 68
    Issue: 15
    Published at Fri, 11 Apr 2025

  2. Prospects For A Prolonged Ceasefire Rekindle Yemen Oil Sector Hopes

    ...lf neighbours to the north but still attracted IOC interest since the 1980s. Production peaked in 2002 at 457,000 b/d and exports were still in excess of 100,000 b/d up until 2014 (MEES, 15 September 2017). Current output is estimated to be no more than 10,000-15,000 b/d mainly coming from the Ma...

    Volume: 66
    Issue: 15
    Published at Fri, 14 Apr 2023

  3. BP Taking Egypt Offshore Block As Raven Outages Persist

    ...itially started-up in 2017 through the Libra and Taurus fields but suffered steep production declines. Despite the latest Phase-3 Raven gas-condensate field being brought online almost 12 months ago, output has never reached the 1.4bn cfd initially planned when the project was sanctioned (MEES, 30 April 20...

    Volume: 65
    Issue: 15
    Published at Fri, 15 Apr 2022

  4. Eni In Libya: What Does The Future Hold?

    ...bya’s share of Eni’s total net output has fallen to less than 10% for the first time since 2011 and is down from 21% as recently as 2017 (see chart 2). Even with such a steep fall in Libya’s share, the firm is looking to further decrease its exposure to the oft-troubled North African country “to better ba...

    Volume: 64
    Issue: 15
    Published at Fri, 16 Apr 2021

  5. UAE’s Mubadala Sells Cepsa Stake To Investor Carlyle

    ...id €3.97bn for the remaining 52.95% in 2011. IPIC was then merged into Mubadala in 2017 (MEES, 24 February 2017). This left Cepsa sitting alongside a host of other energy-focussed Mubadala investments, including its subsidiary Mubadala Petroleum. Holding two wholly-owned energy entities with se...

    Volume: 62
    Issue: 15
    Published at Fri, 12 Apr 2019

  6. Global Drilling Returns To 3-Year High In 2018, Mideast Activity Strong

    ...The rising tide of high oil prices is spurring upstream activity in the Middle East. The region’s rig count averaged 405 in 1Q 2018, just shy of the record 406 posted in 3Q 2017. Brent averaged $67.22/B in the first quarter, against $61.46/B in the final quarter of 2017. Interestingly, th...

    Volume: 61
    Issue: 15
    Published at Fri, 13 Apr 2018

  7. Indian Oil Enters Oman

    ...ckdated to 1 January 2017, the transaction marks Indian Oil’s second splash in the region in less than two months after a consortium including Indian state firms ONGC Videsh and Bharat PetroResources paid a $600mn signing bonus for 10% in Abu Dhabi’s 360,000 b/d Lower Zakum concession in earlier this ye...

    Volume: 61
    Issue: 15
    Published at Fri, 13 Apr 2018

  8. Qatar Seeks Greater Foreign Investment In Energy Sector State-Led Firms

    ...change’s (QSE) investor base and boost liquidity. QSE has taken a substantial hit from the political upheaval since Saudi Arabia, UAE and Bahrain broke off ties with Doha in June 2017. It lost more than 20% of its value between then and end-2017. It has recovered slightly to around 9,000 points, which is st...

    Volume: 61
    Issue: 15
    Published at Fri, 13 Apr 2018

  9. BP Poised For Strong Year In Mena

    ...BP had a mixed 2016 in Mena with liquids output edging up while high natural decline rates at its Egyptian gas assets saw overall gas output fall. But with key startups set for the second half of the year and BP’s return to Abu Dhabi’s onshore, 2017 is set to be a major year. Recent years ha...

    Volume: 60
    Issue: 15
    Published at Fri, 14 Apr 2017

  10. KRG: Prompt March Payments Boost IOC Outlook

    ...upon payment is due in October, while payments totaling $575mn are due in 2017 when the bonds mature. If regular payments from the KRG continue, GKP can expect to receive $13.6mn a month. It would need to save around $2.7mn of this in order to meet both the April and October payments while keeping $32...

    Volume: 59
    Issue: 15
    Published at Fri, 15 Apr 2016

  11. Kufpec Looks to Asia-Pacific To Boost Output

    ...eatstone LNG project in Western Australia. Kufpec owns a 7% stake in the $29bn project.   Chubu will receive 1mn tons/year of LNG from the project for a period of up to 20 years starting in 2017.  The Wheatstone project will have a liquefaction capacity of 8.9mn t/y upon startup, which is now ex...

    Volume: 56
    Issue: 15
    Published at Fri, 12 Apr 2013