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Shell Egypt Slump Opens The Door For Chevron
...ft Shell-predecessor BG unable to meet its export commitments from the 7.2mn t/y ELNG export terminal which adjoins the WDDM processing facilities at Idku (MEES, 7 February 2014). Even the addition of UK major BP’s West Nile Delta (WND) project from 2017 wasn’t enough to reboot LNG exports. This pr...
Volume: 64Issue: 21Published at Fri, 28 May 2021 -
Adnoc-CNPC JV Awards EPC Contract For Offshore Block Development
...rku Island.” Adnoc Upstream Executive Director Yaser Saeed Almazrouei says “we are very pleased to commence the full field development of the Belbazem Offshore Block, together with our strategic partner CNPC.” AL YASAT’S GROWTH Al Yasat was established in 2014 and has two co...
Volume: 64Issue: 21Published at Fri, 28 May 2021 -
Tunisia Struggles To Halt Oil And Gas Decline
...ble). In theory an FPSO development here was slated to produce 15,000 b/d. In practice development was already long-stalled when Medco bought the assets for $128mn in 2014 (MEES, 29 August 2014). Medco says nothing on a buyer or price. But for sure the firm is making a hefty loss. The firm’s freshly-re...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
The Dragon Rises In The Middle East
...stream sector (MEES, 23 March). Conversely, China’s dependence on the Middle East for more than 40% of its oil imports (though this is down from 52% for 2014), means that the region is strategically crucial for Beijing. Having Chinese firms participating in the production of these imported volumes af...
Volume: 61Issue: 21Published at Fri, 25 May 2018 -
Iraq Pursues Crude Capacity Gains As Revenues Rise
...20-2022. Mr Tealdi trumpeted Eni’s successes in boosting drilling efficiency. Last year saw 26 wells drilled using four rigs, against 21 in 2014 with 12 drilling rigs. It is targeting 32 new wells this year while maintaining just four rigs. Overall, there are currently 150 producing wells at Zubair, an...
Volume: 60Issue: 21Published at Fri, 26 May 2017 -
Libya Oil Output Set For Three Year High
...mbles on. As of 25 May, Libya’s average crude production for the month was about 770,000 b/d, surpassing every monthly average since October 2014 when output averaged 860,000 b/d. It is also a hike of more than a third on April output, when a shutdown at the Repsol-operated Sharara fields caused av...
Volume: 60Issue: 21Published at Fri, 26 May 2017 -
Iraq’s Upstream Expansion Plans Recede Over The Horizon
...an revenues have collapsed regardless. And yet under Iraq’s technical service contracts payments to IOCs actually rose $1bn last year to $14bn. Payments to IOCs as a percentage of oil revenue soared from 15.5% in 2014 to 28.6% last year. And 2016 could be more bitter yet. Based on export revenues fo...
Volume: 59Issue: 21Published at Fri, 27 May 2016 -
Egypt’s Debts To IOCs Soar Above $5bn
...ving each been owed $200-240mn at end-2012 the three firms have seen their fortunes diverge sharply. The two gas-focused companies saw their receivables soar in 2013 and 2014 and then fall in late 2015; their dues are now almost exactly in line with the end-2012 figures (see table). DIRECT MA...
Volume: 59Issue: 21Published at Fri, 27 May 2016 -
Leviathan Advances
...e sure to face political opposition. The same is the case in Jordan, which in the face of parliamentary opposition (as well as the relative attractiveness of LNG at currently-depressed prices) has yet to firm up a September 2014 MoU to import 45 bcm of leviathan gas over 15 years. ...
Volume: 59Issue: 21Published at Fri, 27 May 2016 -
Algeria Maintains 2015-2019 Production Plan, Keeps Quiet On Shale
...ternational Petroleum Investment Company. This was due to poor returns, MEES understands (MEES, 6 March). Even with the two new fields Algeria will struggle to keep output level with 2014’s 1.15mn b/d. Production last year received a boost from the ramp-up of output at the Anadarko-operated El Merk pr...
Volume: 58Issue: 21Published at Fri, 22 May 2015 -
Wintershall Exits Qatar Gas Block
...d Austria’s OMV signed a Technical Evaluation Agreement with the Abu Dhabi National Oil Company (Adnoc) to evaluate the potential of the Shuweihat sour gas and condensate field. A first appraisal well was drilled in March 2014. Wintershall will take over the long-term exploration and development of th...
Volume: 58Issue: 21Published at Fri, 22 May 2015 -
BP Steps Up Egypt Commitment But IOC Receivables Climb Again
...ndon’s approval. The fear is that the North Sea fields could be shut in by possible future EU sanctions against Russia following the conflict in Ukraine which began in 2014. It is rumoured that L1 is not happy with the price it could receive for its North Sea assets. This could mean the firm will fall sh...
Volume: 58Issue: 21Published at Fri, 22 May 2015 -
Receivables Up 4% But Fortunes Vary
...ross a number of opportunities in Egypt that we’re now screening and going through due diligence on. So those things have moved more onto the front burner for us,” CEO Ross Clarkson says. Kuwait Energy went even better. In its Consolidated Financial Statements for 2014, released 14 May, it says that “su...
Volume: 58Issue: 21Published at Fri, 22 May 2015 -
GKP Not Stirring On 36,000 B/D Shaikan 2015 Target
...IRAQ Gulf Keystone Petroleum (GKP) is producing 40,000 b/d from the Shaikan field in Iraq’s Kurdistan region, the maximum capacity attained at the end of 2014. The company, which has struggled to sustain its Kurdistan operation due to the delay in receiving payment for exports via Turkey, sa...
Volume: 58Issue: 21Published at Fri, 22 May 2015 -
Saudi Aramco Gives North Ghawar Reservoirs A Rest
...l in 2013, down from a record 9.51mn b/d the previous year. MEES estimates Saudi output in the January-April period of 2014 has averaged 9.7mn b/d as the kingdom has maintained a high level of production, partly to satisfy good customer demand for its oil and partly to offset unplanned outages es...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Lukoil Still Negotiating Gas Price With Aramco
...ed for gas for power generation and as feedstock for petrochemicals production. Lukoil said last year that it hoped to start producing gas from Block A in 2014 but this now appears unlikely. Company vice president Leonid Fedun said in late 2012 that the 14 tcf Rub’ al-Khali gas discovery was la...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Tunisia: Hope Tempered By Strikes And Unemployment
...gures 2010 2011 2012 2013e 2014p 2015p GDP growth (%) 2.6 -1.9 3.7 2....
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Kish Gas Startup Claims Half-Baked
...at has played out in many projects across Iran over the past few years, development of Kish gas, according to Iran, is on schedule. “Early production” at Iran’s huge Kish gas field is expected to begin before the end of the current Iranian year (21 March 2013 – 20 March 2014), the semi-of...
Volume: 56Issue: 21Published at Fri, 24 May 2013