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Oman’s New Energy Minister: Bumper Revenues, Longer-Term Challenges
...oofing the energy sector and broader economy. For Oman, gas is key to this ambition with the 2017 start-up of the Khazzan tight gas play unlocking a bonanza of increased production and development plans (MEES, 12 April 2019). Gas has long been touted as a ‘transition fuel’ and Oman is debottlenecking it...
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
Kuwait Set For Virgin Offshore Well
...ng-delayed offshore exploration drilling program will be a major development for the emirate. Upstream activity outside of the PNZ is conducted by state firm Kuwait Oil Company (KOC), but capacity has dropped from 3.15mn b/d in 2017/18 to just 2.63mn b/d for 2020/21. KOC aims to increase this to 3....
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
Tethys Banks On Oman Knowledge To Develop Hidden Gems
...19). Starting in 2017, Tethys made the jump into becoming an operator in its own right in Oman, snapping up Block 49 on the Saudi border (MEES, 24 November 2017). In 2019 it acquired a 20% stake in Block 56 on the south east coast of Oman (MEES, 1 November 2019) and last year it acquired a further 45% in...
Volume: 64Issue: 25Published at Fri, 25 Jun 2021 -
Egypt Gas: Nour Disappoints
...ads based on the ‘sands play’ of Israel’s Leviathan and Tamar discoveries to the northeast as well as analogues with the ‘Zohr carbonate play’ as based on the seismic (MEES, 31 March 2017). EGYPT: NORTH SINAI EXPLORATION ZOHR: OVERPRODUCTION WARNING Zohr is currently pr...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Exxon Walks Away From Iraq Seawater Project
...this year (MEES, 3 November 2017). But Iraq’s oil minister Jabbar Al-Luaibi cast doubt on the deal (weeks after announcing it was in its ‘final stages’) the following month, proclaiming that if a deal with Exxon were not reached the project would be put back on offer in February (MEES, 5 Ja...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Total Gives $1bn Impetus To Iran’s Upstream Opening
...meframe was given, but on 10 May, CFO Massimo Mondazzi said “in Iran, we’re going to recover any outstanding [receivables] that we have and this will happen in 2017.” OIL AND GAS FIELDS TO BE OFFERED UNDER THE IRAN PETROLEUM CONTRACT GreenField pr...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Qalaa Looks To Trim Debts
...Cairo-based energy-focussed investment firm Qalaa Holdings – formerly Citadel Capital – plans to reduce its debt to E£4bn by the end of 2017, having already reduced its money owed from E£10bn in 2014 to E£6.5bn ($735mn) at present, according to MD Hisham al-Khazindar. Qalaa needs to slash it...
Volume: 59Issue: 25Published at Fri, 24 Jun 2016 -
Major Declines Ahead For Kuwait Oil Production, Says IEA
...line with its effective capacity; indeed, Saudi Arabia is the only producer with significant excess capacity, leaving global markets potentially vulnerable to an output shock. The only increment that the IEA foresees in the forecast period is 60,000 b/d in 2017 from the Ratga heavy oil project in...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
KRG Drops Turkish Six-Block Bombshell; Disputed Areas Included
...the currently contracted 2017, Shell sees around 600,000 b/d by that date as both more realistic and better as regards reservoir management, informed sources say. Final plateaus would only be reached after significant testing of the impact of water injection on the Majnoon reservoir probably after 20...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Shale Plant Go-Ahead
...man. The 500mw plant will start generating electricity for local consumption in 2017 and is expected to reduce Jordan’s expenditure on oil products imports for power generation by more than JD350mn ($490mn) a year, Enefit says. The plant will burn crushed oil shale in twin circulating fl...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Abu Dhabi Delays Target
...fectively acknowledgment that a long-standing 3.5mn b/d production goal – set in the last decade – has been pushed back even further, to 2020. The target, originally 2015, is now officially 2017, although MEES already reported last year that it was unlikely to be achieved before 2019 (MEES, 21 De...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013