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QP, TotalEnergies Team Up Offshore Suriname
...gnificantly scale up its overseas production. The biggest contributor to QP’s overseas output is the firm’s 15% stake in Total Congo which it acquired back in late 2013 (MEES, 31 January 2014). MEES estimates that this provided QP with around 20,000 boe/d net in 2020, down slightly from 20,600 boe/d in 20...
Volume: 64Issue: 25Published at Fri, 25 Jun 2021 -
Thailand’s PTTEP Expands In Gulf With Partex Purchase
...abi’s key onshore concession until January 2014 (MEES, 10 January 2014) – and brings it partnerships with international majors (see table). The key upstream asset is 2% of Oman’s state-led PDO which operates the Sultanate’s largest portfolio of fields, the 610,000 b/d Block 6 (12,200 b/d net). This is...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Doha’s Diplomatic Dispute – The Financial Impact
...nctions came into effect - and the stock market shrank by about $11bn in value the following day, the largest drop since 2010. It went on to post its worst weekly performance since 2014. International ratings agency S&P Global Ratings wasted little time in responding to the move. On 7 June, it lo...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Mideast Sovereign Wealth Funds Learn To Adapt To Low Oil Price World
...Some, but not all, Gulf SWFs are selling assets with lower prices. Others spot new opportunities, especially in Asia. Saudi Arabia's PIF, set to be the repository of the proceeds of the planned Aramco privatization, is already stepping up purchases. Sustained low oil prices since late 2014...
Volume: 59Issue: 25Published at Fri, 24 Jun 2016 -
Egyptian Independents Get Boost From Multilateral Cash
...ys. The loan is part of an $80mn debt facility, passing its final review this week, as it awaits board approval (see table). Awarded in 2004, Merlon’s output at El Fayoum has ramped up rapidly from 2009 start-up, hitting a record 9,000 b/d on 15 June, up from 7,000 b/d in late 2014. “Many of th...
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
Chinese State Firm Expands In Egypt
...stern Desert (NPI 50% and operator, Irish independent Circle 40%, Canadian-registered minnow Sea Dragon 10%). Here gross output was around 10,400 b/d and 9mn cfd gas for 2014, giving the Chinese firm 5,200 b/d and 4.5mn cfd on a net basis. NPI’s other operated interest is 50% of the East Ghazalat co...
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
Enoc To Expand On International Stage
...hygalybeg (Zhdanov). The PSA expires in May 2025 but Dragon Oil has an exclusive right to negotiate an extension for a further period of not less than 10 years. As of 31 December 2014, the Cheleken contract area held remaining gross proven and probable reserves of 663mn barrels of oil and condensate and 1....
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
Korea’s KNOC In Line For ADCO Stake Despite Limited Experience
...e January 2014 renewal of Abu Dhabi’s ADCO onshore oil concession. State firm KNOC stands a decent chance of bagging a minority stake despite a relative lack of upstream experience. Eleven firms have been prequalified by Abu Dhabi’s state oil firm ADNOC for the new membership of the Abu Dh...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Petrofac Wins ADCO Contract
...plemented in phases, with the first new facilities coming onstream in 2014 and end-2015 completion. The Petrofac work per se is intended to maintain pressure rather than increase overall production. However, the results of a massive concurrent CO₂ injection program at Bab are expected in 2016, wh...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013