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Egypt Output Gains Threatened By Mounting Receivables
...erating costs with substantial drilling and investment needed just to keep output stable. As such, several firms suffered near death experiences (indeed, some went bust) when oil prices tanked in 2014-15 and again in 2020. Having not fully recovered from the previous slump, spending and drilling were sl...
Volume: 66Issue: 18Published at Fri, 05 May 2023 -
Majors’ Russia Exit Puts Spotlight On Mena Portfolios
...om its role at the onshore Wafra field located in the Saudi-Kuwaiti Partitioned Neutral Zone (PNZ), where it partners Kuwaiti state firm KGOC in a 50:50 JV. Last year represented the field’s first full year of production after being completely shut-in between late 2014 and February 2020 (MEES, 14 Ja...
Volume: 65Issue: 18Published at Fri, 06 May 2022 -
Tamar Gas Gives Noble East Med Boost
...rkey, and progress here is slow. The field itself is 130km from shore in 1,700ms water depth. The original development plan, filed in December 2014, envisaged a 16.5 bcm/year (1.6bn cfd) floating production storage and offloading (FPSO) vessel to be tied-back to shore – exactly where was left un...
Volume: 59Issue: 18Published at Fri, 06 May 2016 -
Service Firms Merger No Go
...November of 2014, to a low of just over $26 in February of this year, while the global rig count has gone to a 17-year low and you all know what has happened in North America, where each week we've seem to hit new historical lows,” he says. On 29 April the US rig count fell to just 420, as up...
Volume: 59Issue: 18Published at Fri, 06 May 2016 -
Chevron ‘On Verge Of Quitting’ Neutral Zone
...port for 2014 that it may not be able to sustain production from Wafra at current levels. Failure to resolve the problems might force the company to wind down its operations, a senior Saudi source told MEES recently (MEES, 3 April). Chevron’s onshore fields in the Neutral Zone are the US company’s on...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Medco Gets Another 25 Years At Oman’s Karim Fields
...e back of more than 12 months of negotiations (MEES, 7 March 2014), and will kick in at the conclusion of the original agreement next year. Under the terms of the deal, Medco commits to investing $120mn/year for the first five years of the contract period (2016-2021). This could then rise to $13...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Analysis: Aramco’s Overseas Refining And Product Marketing Strategy
...in late 2014. Aramco Trading also sells refined products that Aramco marketing is unable to, due to factors such as lack of storage or a natural disaster sharply cutting demand. Aramco Trading does not sell LPG or crude, which is still done by Aramco marketing, but unlike Aramco ma...
Volume: 56Issue: 18Published at Fri, 03 May 2013