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Aphrodite On The Rocks? Cyprus’ First Gas Find Faces Uncertain Future
...ay hardball with the partners of the country’s first gas discovery, 3.5tcf Aphrodite, made back in 2011. On 30 April, Nicosia informed the field’s partners, Chevron (35%op), Shell (35%) and Israel’s NewMed (30%), that their latest proposed revisions the field’s 2019 development plan, submitted on 28 Ma...
Volume: 67Issue: 18Published at Fri, 03 May 2024 -
Cyprus’ Aphrodite: Chevron Spuds Crucial A3 Well
...Drilling has started at Cyprus’ 4.5tcf Aphrodite field. Will results from this second appraisal well finally see the field’s partners, led by US major Chevron, submit a development plan? To say that development has been slow at Cyprus’ 4.5tcf Aphrodite field, discovered in December 2011, wo...
Volume: 66Issue: 18Published at Fri, 05 May 2023 -
Cyprus Exploration: Crunch Period Nears
...om drilling in Block 3 by Turkish warships (MEES, 16 February). This was the first time though that Turkey has managed to halt drilling offshore Cyprus since 2011. The likelihood that it would block drilling in Block 10 is lower: both due to the relative diplomatic strength of the US and Italy, an...
Volume: 61Issue: 18Published at Fri, 04 May 2018 -
Iran Readies Upstream Opening In Anticipation Of Nuclear Deal
...st 34% of what was envisaged as part of Iran’s fifth development plan (January 2011-March 2015). Already starved of investment from abroad, what little funds NIOC and the ministry does have for investment is being regularly raided by the government in order to pay out monthly cash handouts to the Ir...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Eni Ramps Up Western Desert Output As Cairo Looks To Cut Through Red Tape
...lehia, Ras Qattara, Raml and West Razzak, the Melehia permit, 300km west of Alexandria, accounts for over 75% of total output, some 54,000 b/d. The field’s output has ramped up rapidly since mid-2012 when Eni first tapped the fields deep formations (MEES, 28 May 2012). Back in 2011-12 Agiba produced 40...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Palestine Moves Forward With Onshore Oil Bid Round Amid Difficult Politics
...ile the Meged-5 well initially produced about 800 b/d when it came online in 2011, it averaged just 400 b/d over its first two years. The geology is challenging for a small operator with low technical capabilities like Givot Olam, as the carbonate rock containing the targeted reservoir is poor; co...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Cairo Scrambles To Avert Gas Catastrophe
...mbled from around 5.5bn cu m/yr in 2009-10 to just 1.82bn cu m in 2011 (MEES, 15 February). Clearly some gas has been freed up, but the impact has been limited. Operations at key petrochemical producers, such as at E-Methanex’s 1.3mn t/yr Damietta methanol complex, at EBIC’s 700,000 t/yr am...
Volume: 56Issue: 18Published at Fri, 03 May 2013 -
Iranian Parliament Approves $20Bn Oil And Gas Bonds
...vember that the fund’s total financial assets stood at $42bn. NDF was established in 2011 to replace the Oil Stabilization Fund (OSF) with the aim of converting oil and gas revenue into productive investments for future generations. It was incorporated under the law for the Fifth Development Pl...
Volume: 56Issue: 18Published at Fri, 03 May 2013 -
Kuwait Energy Set For Continued Growth In 2013
...change. KEC profits rose by 29% to $45mn for 2012, whilst sales rose 26% to $225mn. The company’s total working interest production hit almost 18,000 barrels of oil equivalent per day (boe/d), up 32% from 2011, and has risen further to almost 21,600 boe/d for the first quarter 2013 (see table). Of this 93...
Volume: 56Issue: 18Published at Fri, 03 May 2013