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BP Wins ‘Game-Changing’ Terms For Nile Delta Offshore Block
...cilities project, by the year-end and Phase 8, which will involve drilling 10 wells, by the end of 2011. Each phase is expected to cost $1bn. The last two will not increase production, but will maintain the output level. Mr Sufi told MEES that BG will finish two more wells on the El-Manzala and El-Burg co...
Volume: 53Issue: 21Published at Mon, 24 May 2010 -
BP And BG Ready To Declare Commerciality On Critical Omani Gas Projects
...ant. It expects to produce 200mn cfd from its Khazzan and Makarem fields in 2011. BG has a simpler project – handling only one fairly uniform reservoir – although being tight gas means it needs a lot of wells. BG will recover much less gas than BP, which is developing 20-30 tcf of gas in place. BP ex...
Volume: 53Issue: 21Published at Mon, 24 May 2010 -
CIS Development Hinges On Security And Cooperation
...tlined Phase 1 development plans. A final investment decision (FID) is due to be made on offshore and gas export facilities in March 2011, and another FID is due the following December concerning the LNG plant. The drivers in this project, Mr Madeo said, are the schedule, capital and operating ex...
Volume: 53Issue: 21Published at Mon, 24 May 2010 -
Iran Aims For Larger Role In Regional Bunkering
...OPDC), added that Iran expects to earn €1.5bn from bunkering in the current Iranian year (21 March 2010 – 20 March 2011). Mr Ameri reportedly estimated that “4mn tons of fuel oil and 200,000 tons of gasoil would be sold to ships navigating in the Persian Gulf.” He said NIOPDC fuels ships in the ports of Qe...
Volume: 53Issue: 21Published at Mon, 24 May 2010 -
Zion Granted Extensions On Two Exploration Licenses
...res, with the contract now extended to 9 June 2011. The contract for the Joseph license, which covers 83,272 acres alongside Israel’s border with the West Bank, will expire on 10 October 2011. Further seismic data acquisition will taken place on Asher-Menashe in 2010, the company said, while the Maʹan...
Volume: 53Issue: 21Published at Mon, 24 May 2010 -
ExxonMobil And QP Pushing Ahead With $8bn Ras Laffan Petrochemicals Venture
...gineering, procurement and construction (EPC) on a reimbursable costs basis is likely to be put out by mid-year, with award towards the end of the year or in early 2011, an engineering source tells MEES. The project, which aims to build the world’s largest steam cracker at 1.6mn tons/year, was only announced ea...
Volume: 53Issue: 21Published at Mon, 24 May 2010 -
Qatar Expected To Produce Surplus Electricity By 2011
...Middle East Economic Survey VOL. LIII No 21 24-May-2010 QATAR Qatar Expected To Produce Surplus Electricity By 2011 Qatar’s electric power generating projects, including Ras Qurtas and Mesaieed, will provide the country with a surplus of electricity as from next year, Qatar News Ag...
Volume: 53Issue: 21Published at Mon, 24 May 2010 -
GCC Economies May Grow At 4.4% In 2010 And 4.7% In 2011, According to IIF
...Middle East Economic Survey VOL. LIII No 21 24-May-2010 REGIONAL GCC Economies May Grow At 4.4% In 2010 And 4.7% In 2011, According to IIF The economies of themember states of the Gulf Cooperation Council (GCC) are now recovering and growth this year is likely to average 4.4% and th...
Volume: 53Issue: 21Published at Mon, 24 May 2010 -
2009 Saudi Trade Surplus Lowest Since 2004, Jadwa Confirms
...gure falling by just 6%. Jadwa Revises Current Account Surplus Forecast The new figures have resulted in Jadwa raising its 2010 and 2011 projections for the Kingdom’s current account surplus and oil revenues. Over the next two years, the current account surplus is expected to be $45.3bn (10.9% of GDP) an...
Volume: 53Issue: 21Published at Mon, 24 May 2010 -
Higher Government Outlays Help Saudi Economy But Lending Still Hindered, Says BSF
...ospects for banks until year-end and 2011,” it adds. Banks are also vetting with greater caution loan requests from longstanding family businesses as they rethink lending policies after debt troubles surfaced in two such conglomerates in 2009. The depth of the project finance pipeline over the next two ye...
Volume: 53Issue: 21Published at Mon, 24 May 2010 -
DNO Completes Second Test On Yaalen-3 Well, Sees Increased Reserves Potential
...arter of 2011. The appraisal well, which was completed, is part of the company’s program to develop the Yaalen and Sharnah oil discoveries on the block, in which DNO holds a 40% interest....
Volume: 53Issue: 21Published at Mon, 24 May 2010