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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 -
Rising Kurdistan Oil Production Gives Iraq Opec Headache
...mmitments (MEES, 10 March 2017). The collapse of Kurdistan production in mid-2023 had been a boon for Baghdad, which swiftly increased its directly-controlled crude exports from the south to boost revenues but has been slow to cut again as northern output has returned. An agreement was struck with Erbil in Ap...
Volume: 67Issue: 20Published at Fri, 17 May 2024 -
Kurdistan’s Khor Mor Gas Expansion Back On Track
...8mn), up from $59mn in the same period last year (see chart 2). This is by far the biggest figure since 2Q 2017’s $707mn, following which an agreement was reached with the KRG in August 2021 to write them off in return for a cash payment and the licenses to two additional exploration blocks (MEES, 1 Se...
Volume: 66Issue: 20Published at Fri, 19 May 2023 -
Mauritania Gas Development Gets European Supply Crunch Boost, But Exploration Canned
...e north is set to be relinquished on the expiry of its current exploration period at the end of next month. At least BP drilled an exploration well on C-12, 2017’s Lamantin-1 which unsuccessfully targeted oil. This is more than ExxonMobil did on its three ultra-deepwater blocks – C-14, C-17 an...
Volume: 65Issue: 20Published at Fri, 20 May 2022 -
Egypt: Record Gas Output, Exports At Seven-Year High
...early 2012 to just 38% (1.68bn cfd) by early 2017. Output has since rebounded to 3.94bn cfd for Q1 (60% of Egypt’s total output), with the Q1 2012 record of 4.36bn cfd likely to be topped later this year (see chart). Gas output from the Western Desert, long the country’s second key production ar...
Volume: 62Issue: 20Published at Fri, 17 May 2019 -
Oman Eyes Ambitious Downstream Gas Projects With Total, Shell MOUs
...d 2.71bn cfd of gas in 2017, 67% and 72% of the national total respectively. But development of “several gas discoveries located in the Greater Barik area” is slated to be undertaken by Shell (75%) and Total (25%) rather than PDO. Further down the line, the Omani government may farm back into th...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
China’s Anton Oil Expands Iraq Presence As Shell Exits
...eld, but the Anglo-Dutch major announced last September it would walk away from its 45% stake citing dissatisfaction with Iraq’s cumbersome technical service contract (TSC) effective 30 June (MEES, 22 September 2017). Malaysian state firm Petronas is also relinquishing its 30% stake end-June, leaving Ir...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Tunisia: Key Gas Project Faces Further Delays As Unrest Grows
...rget start-up date remained 2017 (see table). Nawara, a project previously flagged up as key to OMV, was totally missing from prepared Q1 results material. The firm’s more detailed May capital markets presentation indicates that the overall project is 77% complete with the 95mn cfd gas treatment pl...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Egypt Gas Boost Cuts Import Needs, But Self-Reliance Still A Distant Goal
...er 70% of total output at the end of 2011 and the beginning of 2012, that share fell to just 38% in Q1 2017 (see chart 4). It’s not just the Eni/BP fields; production at the Shell (ex-BG) West Delta Deep Marine project has fallen even more steeply. ENI/BP OFFSHORE NILE DELTA PRODUCTION (MN CF...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Egypt’s Petchems Boosted By New Gas – But Demand Also Rising
...rea Misr petchems plants this week reported a “stellar performance” in Q1 2017, with revenues up 15% year-on-year to $82.6mn. Alexfert utilization was “north of 100%” with the plant “receiving its full gas allocation.” At the end of 2016 EKH was already “quickly regaining its position” in the global fe...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Egypt Oil Debts Put Brake On Investment
...June. Egypt owed a total of $3.4bn at end-March according to its own reckoning, so, if completed, these two 1H 2017 payments would equate to 44% of the then total. Oil Minister Tarek El Molla says receivables will be halved by the end of the year and eliminated by mid-2019. REGULAR PA...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Riyadh Refinery Maintenance Set To Conclude
...t still rises seasonally. Jodi data released this week shows that Saudi direct crude burn averaged 280,000 b/d in Q1 2017, down 14% from 327,000 b/d in Q1 2016 (see p9)....
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Abu Dhabi Shakes Up Adnoc Management
...ctor in his appointment. Adco is targeting production of 1.8mn b/d by 2018, pushed back from 2017, but with output largely stalled at 1.6mn b/d, it may miss this target. WILL HE TWEAK ADCO TERMS? One issue facing Mr Ghafli is whether to improve the terms on offer to IOCs looking to join the Ad...
Volume: 59Issue: 20Published at Fri, 20 May 2016 -
Saudi Aramco Oil, Gas Reserves At All-Time High
...ightly behind schedule in mid-2016 rather than in 2015 as announced previously. There was no mention of Khurais, which is being expanded to produce 1.5mn b/d of Arabian Light by 2017 from 1.2mn b/d currently. The latter project appears to have been superseded by a revamp of the Dammam field, one of the ea...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Qatar Faces Cost Blow-Out In Drive To Redevelop Bul Hanine
...r crude production. In the April report, QNB says that it expects oilfield redevelopment to only sustain current levels of crude output. Last year, however, QNB forecasted a growth in crude production to 800,000 b/d by 2017. The bank’s recent break with optimism is in stark contrast with earlier pr...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Delek Raises Funds To Drive Offshore Israel Development
...oduction platform to the wellhead has a capacity of 12 bcm/y (1.16bn cfd). The third pipeline would likely cost $200-300mn and be completed by 2017, according to Israeli daily Globes. Moody’s rating agency gave the bond, issued on 28 April, a Baa3 rating (investment grade, though only just) lowest due to...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Leviathan Eyes Cyprus Tender; Cyprus Eyes LNG
...ns of LNG. First gas is to be delivered between 1 January 2016 and 30 June 2017. The tender expressed no preference for pipeline or LNG delivery. With Cyprus having no current LNG import infrastructure, any offer involving LNG would have to factor in the cost of building such plant. MEES un...
Volume: 57Issue: 20Published at Fri, 16 May 2014