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Kuwait’s Extends Shell’s Key Upstream Role
...SA, which runs for 10 years (MEES, 21 March). There have been no subsequent ETSAs awarded, despite previous plans to award new contracts for heavy oil development (MEES, 2 June 2017) and for West Kuwait (MEES, 20 April 2018). Plans to develop a new contract model have also yet to reach fruition (ME...
Volume: 68Issue: 18Published at Fri, 02 May 2025 -
Iran’s Million Barrel West Karun Ambitions Recede Into The Distance
...arded Petropars a $1.3bn contract (MEES, 24 July 2020) to deliver the phase after hopes of bringing foreign IOCs were derailed first by Iran’s protracted and unfavorable contracting offerings in 2016 and 2017 (MEES, 2 September 2016 & MEES, 23 June 2017) before sanctions dealt the final blow. Re...
Volume: 66Issue: 18Published at Fri, 05 May 2023 -
Iraq Crude Exports Push Against Capacity Constraints
...ins only in 2023 and 2025. The first gains are slated to come through the much-delayed Sealine 3 pipeline which is planned to add 600,000 b/d by connecting to ABOT, the non-operational SPM4 and the 600,000 b/d Khor al-Amaya (KAAOT) terminal which has been offline since 2017 due to pipeline leaks. Mr...
Volume: 65Issue: 18Published at Fri, 06 May 2022 -
Oman Oil Output At Near-Record Highs As India Shipments Surge
...similarly low volumes in April. With Chinese spot crude buying having dropped off significantly over the last couple of months as Covid restrictions crimp demand, India has stepped up to fill the gap. Shipments to India doubled to 220,000 b/d in March, the highest figure since October 2017 th...
Volume: 65Issue: 18Published at Fri, 06 May 2022 -
Oman State Firm Sees Oil & Gas Output Drop Amid Opec+ Cuts
...ose to Block 9. Block 30 is located to the east of Block 9 and is a gas play awarded to Oxy in 2017 (MEES, 24 November 2017). OQ says the partners are assessing the next phase of development, while Oxy has previously said that it intends for the nearby Block 62 to act as a hub for any Block 30 ou...
Volume: 64Issue: 18Published at Fri, 07 May 2021 -
Iraq Offers To Buy Exxon Wq-1 Stake ‘In Kind’
...mmercial terms remain a major hurdle (MEES, 22 September 2017 & MEES, 3 April 2020). Iraq’s motivation in having BOC take over from Exxon may be due to continued hopes of a future sale to a western IOC, as well as concern over the extent to which its oil sector is becoming reliant on Chinese firms (ME...
Volume: 64Issue: 18Published at Fri, 07 May 2021 -
Lebanon Gas Ambitions In Limbo As Virgin Well Falls Flat
...ploration well in Block 9 by May 2021 (MEES, 16 February 2018). Lebanon struggled with political crises and instability for the better half of the last decade, which pushed back its first bid round from 2012 until 2017 (MEES, 24 January). But following the block awards in late 2017 facilitated by the (te...
Volume: 63Issue: 18Published at Fri, 01 May 2020 -
Oman: Khazzan Boosts LNG Exports To Record Levels
...Oman’s LNG exports hit a four-year high in 2017. Since then the 1bn cfd Khazzan field has hit full capacity. With domestic demand lagging, 2018 may see Oman fill up its 10.4mn t/y export capacity for the first time ever. Two years ago, Oman’s LNG sector looked in trouble: output had tu...
Volume: 61Issue: 18Published at Fri, 04 May 2018 -
PDO To Invest $5bn/Y To Maintain Its ‘Difficult’ Fields
...tential oil and gas capex savings. This would be a 29% cut from 2017’s $5.8bn spend, reflecting Oman’s stretched finances (MEES, 23 March). PDO is a joint venture grouping Oman (60%), Shell (34%), Total (4%) and Partex (2%). It operates Oman’s massive 90,874km² Block 6. This produced 650,663 b/d last ye...
Volume: 61Issue: 18Published at Fri, 04 May 2018 -
Cyprus Exploration: Crunch Period Nears
...15. 11 Jan13 Total 50%op, Eni 50% July ‘17 well hit sub-commercial gas. Eni farm-in March 2017...
Volume: 61Issue: 18Published at Fri, 04 May 2018 -
Damietta Restart Key To Zohr Exports-Eni
...G under a deal struck that year between Shell and Egyptian state firm EGPC. For 2017 the plant exported 12 cargoes totaling 780,000 tons, according to the recently-released 2017 report of LNG importers group Giignl. India was top customer with three cargoes (190,000 t); Kuwait and Japan took two ea...
Volume: 61Issue: 18Published at Fri, 04 May 2018 -
Oil Boost Raises Hopes In Libya, Perhaps Falsely
...bya in the firm’s Q1 results, other than to note the resumption of production, which netted the firm additional profits of €26mn for the quarter. In the firm’s Q4 results it said it is accounting for average net production of only 12,000-13,000 b/d in 2017, implying gross production of about 10...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Algeria: In Amenas Compression Boosts Gas Exports To Highest Since 2012
...untry taking seven-year high volumes of 6.34bcm (2.49bn cfd) for the first three months of 2017, though these volumes fell in April (see chart 4). Spanish import data for the first two months of 2017 show a more modest 12% rise to 3.37bcm in Algerian volumes. BERKINE OIL OUTPUT DOWN Other Al...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Kuwait Eyes New Crude Outlet Within Six Months
...ude exports have fallen below 2mn b/d in the first months of 2017 this is due to the Opec agreement to cut production in the first six months of the year. While Kuwait’s grand plans to increase liquids production capacity around 1mn b/d to 4mn b/d by 2020 look unfeasible, it could still notch up su...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Iraqi Kurdistan Producers Seek Positives In Challenging Environment
...sue now, rather than making the coupon payments and not addressing the 2017 maturing of the debt that hangs over the company, GKP’s board appears to have confidence that a deal can be made with the bondholders. Resolving the issue would certainly be a positive development for the share price and would fr...
Volume: 59Issue: 18Published at Fri, 06 May 2016 -
Iran Readies Upstream Opening In Anticipation Of Nuclear Deal
...to shut-in production. Raising gas production has also been high on the ministry’s to-do list, particularly since the current minister came back into the oil ministry fold. Iran has targeted a doubling of domestic gas output from around 165 bcm/year in early 2014, to 330 bcm/year by 2017 – fu...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Japan’s Inpex Adds Onshore Abu Dhabi Stake To UAE Portfolio
...curing a share in the 40-year license, Inpex joins France’s Total as the second foreign oil company to be awarded a stake in the restructured Adco concession, where output is set to rise to 1.8mn b/d by 2017. It also pipped its South Korean rivals to the post, though both GS Energy and Korea National Oil Co...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Eni Ramps Up Western Desert Output As Cairo Looks To Cut Through Red Tape
...st year, BP agreed to expedite development of WND with first gas by 2017, in return for a further hike in gas price beyond the $4.1/mn BTU that BP and its partner Dea (formerly RWE-Dea) originally secured (MEES, 15 March). The latest deal specifies output starting at 450mn cfd in 2017, rising to 80...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Petroceltic Upbeat On Ain Tsila As Sonatrach Calls For Cost Cuts
...ard of the Isarene Production Sharing Contract (PSC) dates back to April 2005. Last year, the target date for first gas slipped from a previous estimate of late 2017 to 2018 (MEES, 23 May 2014). At the time, the company estimated the costs of drilling operations at around $1.5 bn. Production start is no...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Egypt Pushes Back Bid Round Deadline
...paid $1bn in outstanding receivables over the coming two months. IOCs are owed $6.3bn, said Mr Ismail, after they received $1.5bn last December. The government at the time announced the repayment of a further $3bn in monthly instalments to 2017 (MEES, 25 April). The ministry offered no clues as...
Volume: 57Issue: 18Published at Fri, 02 May 2014