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Egypt: New Deals Boost Gas Output, Oil Decline Continues
...the fourth quarter to be the highest of the year, and we anticipate exiting the year around 500mn cfd,” he adds. This in turn would be a two-year high if achieved, although still a far cry from the record 921mn cfd posted in 1Q 2014. While welcome news for Egypt, Apache’s gas gains are un...
Volume: 68Issue: 20Published at Fri, 16 May 2025 -
Iraq Bidding: Chinese Firms Dominate
...gion’s rebounding oil output (see p5). In the upstream, it operates the Kurdish-controlled Khurmala dome portion of the giant Kirkuk oilfield and between 2014 and 2017 it controversially operated the field’s Avana Dome, and the nearby Bai Hasan field after Kurdish forces moved in claiming to secure th...
Volume: 67Issue: 20Published at Fri, 17 May 2024 -
Apache ‘Excited’ By Egypt Despite Output Plunge
...8). 1: EGYPT OIL OUTPUT FELL TO A 38-YEAR LOW OF 608,000 B/D FOR MARCH ('000 B/D) 2: APACHE GROSS EGYPT OUTPUT IS AT A 10-YEAR LOW BUT THE US FIRM HOPES A WELL-STOCKED INVENTORY WILL SEE A REBOUND 3: APACHE HIKES EGYPT CAPEX, BUT STILL JUST 40% OF 2014 LEVELS *IN...
Volume: 63Issue: 20Published at Fri, 15 May 2020 -
China’s Anton Oil Expands Iraq Presence As Shell Exits
...th BOC on 11 May, thereby lowering its PPT from 1.2mn b/d to 800,000 b/d by 2025. Current output stands around 400,000 b/d, which Lukoil vows to increase to 480,000 b/d by 2020. The Russian giant had already managed to renegotiate its PPT down once before, from 1.8mn b/d to 1.2mn b/d in 2014. ...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Tunisia: Key Gas Project Faces Further Delays As Unrest Grows
...en tied in as a producer (albeit likely at a significantly lower flow rate). But despite this modest boost gross output from Eni’s southern fields fell from 15,900 b/d in 2014 to 13,900 b/d in 2015 and 13,000 b/d last year. Eni says it has not been hit by the latest protests. However OMV has in re...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Egypt Gas Boost Cuts Import Needs, But Self-Reliance Still A Distant Goal
...covery, with BP’s 1.5 tcf Atoll set to add a further 300mn cfd from mid 2018. But even with the Nooros and WND boost, Egyptian output is only back to early 2014 levels: it is still some 1bn cfd short of the near-6bn cfd average of 2011 and 2012 (see chart – the Nooros field which is in shallow water but dr...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Cairo Hopes To Garner New Interest In Old Acreage
...rata – so they may yet see promise in seemingly well-worn acreage. Eni’s key Western Desert output comes from the 54,000 b/d Melehia permit where output has ramped up rapidly since mid-2012 when Eni first tapped the field’s deep formations. Apache produces around 30,000 b/d from the 2014 Ptah and Be...
Volume: 59Issue: 20Published at Fri, 20 May 2016 -
Chevron Advances Maintenance Shutdown At Neutral Zone Field In Bid To Aid Talks
...aph). The US major said in its annual report 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 Ne...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Noble Comes Out On Top In Israeli Antitrust Dispute
...raeli Prime Minister Benyamin Netanyahu’s ruling Likud party but left to form his own Kulanu party in November 2014. He served as Communications Minister from 2009 until 2013 and campaigned on a platform of lowering the cost of living. Mr Steinitz, who is a member of the Likud party was Finance Mi...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Saudi Aramco Oil, Gas Reserves At All-Time High
...SAUDI ARABIA Saudi Aramco Oil, Gas Reserves At All-Time High Saudi Aramco has just published its Annual Review for 2014, the last in which Oil Minister Ali Naimi will grace its pages as Chairman of the Board. Based on the numbers, last year’s achievements are impressive, especially if th...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Qatar Faces Cost Blow-Out In Drive To Redevelop Bul Hanine
...ese numbers highlight the extraordinary measures Qatar is taking to stabilize crude production. Qatari oil production has fallen steadily since February 2009 when it topped out at 860,000 b/d. During the first months of 2014, production has drifted between 710,000 b/d and 720,000 b/d (see ch...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
KRG Goes Quiet On Oil Export Plans As Storage Tanks Fill Up
...certainty in the timing of revenue recognition and guidance for 2014,” GK adds. Spring Break The company gave a net revenue guidance for the year of $150-180mn, which was below analysts’ expectations. This is the second blow to GK, which also took a hit in April after a third party evaluation re...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Libya: Production Resumes In East And West
...rmany’s Wintershall, France’s Total and Norway’s Statoil. OMV has already factored in continued interruptions to its Libyan operations to its 2014 outlook. The company trimmed its production guidance to 310,000 – 330,000 b/d, down from the 320,000 – 340,000 b/d target it stated as recently as last month....
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Abu Dhabi Rejects ADCO Extension Request
...r a new ADCO shareholding structure by the concession’s official 13 January 2014 expiry. This will leave ADNOC operating the fields until the SPC makes the decision. Current ADCO partners are ADNOC 60%, Total, BP, Shell and ExxonMobil 9.5% each and Portugal’s Partex 2%. This would be a re...
Volume: 56Issue: 20Published at Fri, 17 May 2013