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Iran Revives 4mn B/D Production Target
...As key Opec members meet this weekend to decide whether to extend their ‘voluntary cuts’ into the second half of the year (see p9), Iran will as always cast its support from the sidelines. The country has essentially been exempt from cuts ever since Opec+ cuts began in January 2017, while ev...
Volume: 67Issue: 22Published at Fri, 31 May 2024 -
Libya’s Oil Revenues Surge
...force intended to display his willingness to fight unless his interests are not catered for in the emerging political landscape. He is not the only one worried. LIBYA'S OIL REVENUES* SOAR ON THE BACK OF 1MN B/D-PLUS EXPORTS THIS YEAR *CBL 'OIL REVENUE' NUMBERS USED BETWEEN 2011 & 2017...
Volume: 64Issue: 22Published at Fri, 04 Jun 2021 -
Bahrain In Talks With Neighbors Over GCC Gas Grid
...xt month, no expansion here is viable for the foreseeable future. Saudi Arabia was in fact in talks with Qatar over potential gas imports before the embargo began in June 2017 (MEES, 8 December 2017). That option is now gone, but energy ministers from Bahrain, Saudi Arabia and the UAE have all ra...
Volume: 63Issue: 22Published at Fri, 29 May 2020 -
Libya’s North Hamada: Development At Last?
...0.2mn (MEES 27 October 2017) – implying that it no longer planned to develop Area 47. However, seemingly under pressure from NOC, it reversed this impairment the following year. That said, with Medco barely mentioning Libya in its results material, it appears to be close to quitting Libya following its re...
Volume: 62Issue: 22Published at Fri, 31 May 2019 -
Bahrain Takes $300mn Oil Revenue Hit From Abu Safah Outage
...om the Awali field operated by state firm Tatweer. Output here averaged 42,700 b/d for Q1, down 6.5% from 45,500 b/d in the same period in 2017. It is also a 10% fall from its October 2016 output of 47,500 b/d, which formed the baseline for its commitment to cut output under the Opec+ agreement (see p4...
Volume: 61Issue: 22Published at Fri, 01 Jun 2018 -
Kuwait Brings More IOCs Into Heavy Oil Development
...osting liquids capacity is showcased by the rig count figures provided by US services firm Baker Hughes. Prior to 2017, Kuwait had 40 active oil rigs in just one month, March 2015, but has exceeded this mark in each of the first four months of 2017 (see chart). As heavy oil development accelerates, this sh...
Volume: 60Issue: 22Published at Fri, 02 Jun 2017 -
Egypt’s Med Gas Output Collapse: Can Even Zohr Make Up The Losses?
...TUAL OUTPUT TO 2015, PROJECTION FOR 2016, ESTIMATE FROM 2017. INCLUDES INCREMENTAL GAINS AT CURRENTLY-OPERATING PROJECTS BUT EXCLUDES ZOHR, WND. ^BASED ON COMPANY FORECASTS. THESE MAY PROVE OPTIMISTIC ESPECIALLY AS REGARDS THE RATE OF RAMP-UP. **CURRENTLY CONTRACTED CARGOES ONLY, FURTHER VOLUMES LIKELY TO...
Volume: 59Issue: 22Published at Fri, 03 Jun 2016 -
Zohr Number-Crunching
...eld more riches. ZOHR PRODUCTION PROFILE INDICATES 22-23TCF RECOVERABLE RESOURCE *OFFICIAL START-UP (1BN CFD FROM 6 WELLS) SLATED FOR ‘END 2017,’ 14 ADDITIONAL WELLS ARE SLATED TO ADD 1.7BN CFD FROM 2019. PROFILE PRESUMES THAT THESE INCREMENTS TAKE TIME TO RAMP UP. SOURCE: MEES, BASED ON EN...
Volume: 59Issue: 22Published at Fri, 03 Jun 2016 -
KRG Scrabbles To Pay IOCs Amid Strain Of Prepayment Obligations
...scovery as well as Russian state firm Gazprom Neft’s takeover as operator from Canadian-listed partner Western Zagros. But increases beyond current 5,000 b/d output this year are off the cards, with the Sarqala-2 well set to be spudded in the first half of 2017. Western Zagros also confirms that Re...
Volume: 59Issue: 22Published at Fri, 03 Jun 2016 -
Eni Advances Libya Gas Plans Amid Short-Term Cuts
...e second half of 2017 through to the second half of 2018,” it adds, noting that in light of the continued and chronic instability in Libya, “all offshore mobilizations will be undertaken from Malta” around 250km to the north. Eni’s gas output, both from Bahr Essalam and the Wafa field deep in th...
Volume: 59Issue: 22Published at Fri, 03 Jun 2016 -
Egypt Doubles Down On Attempts To Reverse Gas Slump
...ll be hoping to capitalize on the momentum created by the recent $12bn deal signed by BP and Dea with Cairo for the development of WND, which is slated to produce 1.2bn cfd from 2017 (MEES, 22 May 2015). ENI/BP: PRECIPITOUS DECLINE While BP has earmarked the western delta for its key ex...
Volume: 58Issue: 22Published at Fri, 29 May 2015 -
Algeria’s Upstream Investment: Running To Stand Still
...% Mid-’17 Sonatrach says 2016 4.4 424 Timimoun , SW Gas Project Total 37.75%op, Cepsa 11.25%, Sonatrach 51% 2017 Sonatrach says 20...
Volume: 58Issue: 22Published at Fri, 29 May 2015 -
Iraq Seeks Chinese Funding For Crucial Water Injection Project
...line late and reportedly has just one drilling rig operating, said in early May that it is delaying full development plans for Majnoon to 2017 or beyond. Italy’s Eni, operator of the Zubair oil field, has already canceled two major contracts. Iraq may be celebrating the achievement of post-1979 re...
Volume: 58Issue: 22Published at Fri, 29 May 2015