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Cyprus Set To Launch Reduced Drilling Campaign
...Eni and TotalEnergies are set to kick-off a two-well Cyprus exploration drilling campaign next month, two years after abandoning a six-well program. Chevron appears to have shelved an appraisal well on its 2011 Aphrodite find. Italy’s Eni and TotalEnergies, partners on seven blocks of...
Volume: 65Issue: 16Published at Fri, 22 Apr 2022 -
ExxonMobil Set To Exit Federal Iraq
...ant fields to reach full production capacity targets. Talks ultimately went nowhere. Iraq now aims to award a downsized 2.5mn b/d first phase to France’s Total (MEES, 2 April). The biggest controversy however was Exxon’s decision to sign up for six blocks in Iraqi Kurdistan in 2011, including as...
Volume: 64Issue: 16Published at Fri, 23 Apr 2021 -
Iraq Awards Mansuriya Gas Field To Sinopec
...arded have yet been finalized (MEES, 27 April 2018). Mansuriya development was originally awarded in 2011 to a consortium led by Turkey’s TPAO (22.5%op) alongside Korea’s Kogas (15%), and Kuwait Energy (since taken over by Hong Kong-listed UEG, 22.5%) and state-owned Oil Exploration Company (OEC 25...
Volume: 64Issue: 16Published at Fri, 23 Apr 2021 -
Israel's Leviathan Hits Q1 Output Record As Expansion Plans Move Up The Agenda
...rtner Eiten Aizenberg who first identified the Leviathan prospect. Unable to go it alone, the firm convinced Noble and Delek to farm-in in 2008, before 2010’s wildcat drilling success (MEES, 10 January 2011). Ratio was one of the first private firms to enter Israel’s upstream following its li...
Volume: 64Issue: 16Published at Fri, 23 Apr 2021 -
Russian Warships To Escort Iranian Oil Tankers To Syria
...MAGE’ In January, Syria’s Prime Minister Hussein Arnous put production from government controlled territories at 20,000 b/d. Prior to the outbreak of the Syrian civil war in 2011, the government’s production across the country was 390,000 b/d (MEES, 22 January). Plans to grow production from fields Da...
Volume: 64Issue: 16Published at Fri, 23 Apr 2021 -
Egypt Gas Surplus At Highest Since 2011
...bdued. Latest figures from Jodi show that domestic consumption was 5.88bn cfd for February, up only fractionally year-on-year. *The result is a gas surplus that hit 1.17bn cfd for February, the highest figure since December 2011 (see chart). This has in turn enabled LNG exports that leapt to a 10...
Volume: 64Issue: 16Published at Fri, 23 Apr 2021 -
Cyprus Drilling Plans Slashed With Capex Cuts
...kkotrypis says. How long is anyone’s guess. And what of Cyprus’ first ever gas discovery, 4.1tcf Aphrodite, made in 2011 but stuck on the shelf ever since. Operator Noble of the US (35%) together with partners Shell (35%) and Israel’s Delek (30%) had planned a second appraisal well late this or early ne...
Volume: 63Issue: 16Published at Fri, 17 Apr 2020 -
Opec’s Funky Baseline Aims To Maximize Claimed Cuts
...uld be the lowest combined annual production figure for this grouping since 2011’s 22.88mn b/d. Looking in closer detail at Opec’s four largest Gulf producers (excluding sanctions-hit Iran), combined output this year and next will be at its lowest level since 2013 (see chart). OPEC OUPUT: WH...
Volume: 63Issue: 16Published at Fri, 17 Apr 2020 -
Korea LNG Imports: Strong Q1 But Downturn Coming?
....3% market share the second lowest quarterly figure since it moved clear of Indonesia as top supplier in 2011. *Whilst Indonesia is no longer a threat, Australia is. Australia overtook Qatar on a quarterly basis for the first time in Q4 2019 (MEES, 17 January). Qatar did edge back ahead of Au...
Volume: 63Issue: 16Published at Fri, 17 Apr 2020 -
Israel: Energean Bags More Reserves, But More Needed
...cm/y processing capacity and 800,000 barrels of oil storage, “leaving a further 3.4bcm/y of spare capacity for additional sales of discovered gas at Karish and the tie back of future discoveries,” Energean says. Karish and the 2011 Tanin discovery were purchased in 2016 for $148mn (plus a share of fu...
Volume: 62Issue: 16Published at Fri, 19 Apr 2019 -
The USA’s Growing Role In Global LNG Trade - MEES Crunches The Numbers
...BRUARY (1.44MN T, 21 TANKERS) AND MARCH (1.00MN T) THE TWO BIGGEST MONTHS ON RECORD... ...BUT, NORTHBOUND (AND OVERALL) LNG VOLUMES ARE WELL DOWN FROM 2011’S RECORD HIGHS AS SALES OF QATARI LNG TO ATLANTIC BASIN BUYERS HAVE SLUMPED (MN T) SOURCE: SUEZ CANAL AUTHORITY, MEES. TH...
Volume: 61Issue: 16Published at Fri, 20 Apr 2018 -
OMV Restarts Yemen Output
...15. Multiple firms with Shabwa basin operations say the region is safe from combat with upstream infrastructure intact. But pipeline attacks remain a perennial threat and employee safety a constant concern. Yemen produced 300,000 b/d before political stability nosedived in 2011. The 2010 co...
Volume: 61Issue: 16Published at Fri, 20 Apr 2018 -
Sabic Output At Record High In 2016, But Net Income Lower In ‘Pivotal Year’
...an halving in oil prices far better than it did in 2009, when a more modest fall in oil prices saw earnings collapse to just $2.42bn (see charts). Net income has fallen every year but one since 2011’s record $7.80bn despite steadily rising output since. Production numbers are somewhat confusing as...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Tunisia Awaits $2.5bn In Fresh Aid As Economy Undershoots, Energy Bill Soars
...her in the Arab Spring in 2011, Tunisia has been seen as the last best hope of an Arab democratic transition, prompting international donors to pledge financial support. TUNISIA- IMF FORECASTS: REPEAT DOWNGRADES TO PAST PROJECTIONS UNDERMINE FORECASTS OF FUTURE IMPROVEMENT ON GR...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Total And Sonatrach Bury Hatchet As Algiers Pushes Partnerships Agenda
...proved contractual framework” at its key Algerian development project, 180mn cfd Timimoun, in which it has 37.75%. Sonatrach has 51% and Spain’s Cepsa the remaining 11.25%. (Total owned 50% of Cepsa until 2011 when it sold to Abu Dhabi sovereign wealth fund IPIC.) Start-up at Timimoun, a key element of...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Saudi Debut International Sukuk Raises $9bn; Aramco Taps Further $3bn
...untry’s other means of covering its deficit is to draw down its foreign reserves. These had shrunk to $514bn at end-February – the lowest since 2011: they were $593bn a year earlier and peaked at $732bn at end-2014 (see chart). The sukuk helps to alleviate pressure on these foreign reserves. Moody’s as...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Flaring Advances Ignite Iraq’s Gas Sector
...16 (MEES, 24 July 2015). Iraq is therefore looking beyond its borders to source additional supplies of gas. Specifically it has signed two deals with neighboring Iran to import up to 20 bcm/year of gas through two pipelines over six years. The first deal, signed in 2011, was meant to have st...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Libya Lays Out Plans For Output Hike
...ere through some maintenance. The Elephant field has capacity of 90,000-100,000 b/d.” The Sharara fields, on Blocks NC-115 and NC-186, produced up to 340,000 b/d prior to 2011, and were producing an average of 300,000 b/d in 2012, but output in 2014 averaged just 78,000 b/d, and it has been zero si...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Obama Looks To Mend Fences In Riyadh
...s not a direct attack on Saudi Arabia, but a call for a more collaborative approach to regional security. Recalling pressure for the US to intervene in Libya in 2011, Mr Obama told The Atlantic’s Jeffery Goldberg that he wants “Europeans and Gulf countries to be actively involved in the coalition.” Th...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Eni: Unlikely Libya Boost Returns North Africa To Center Stage
...ospects, located in contractual area D (MEES, 14 August 2015). The firm is responsible for gas supply to Libya’s power generation infrastructure and for gas exports via the Greenstream pipeline to Italy. Shipments last year rose to 688mn cfd, the highest level since the 2011 ouster of Mu’ammar al-Qa...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016