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Syria Oil-For-Aid Initiative: Can It Gain Traction?
...the Block 26 assets, Gulfsands says it receives regular updates from GPC personnel who retain access to the fields. Based on these updates, production has actually been remarkably steady at around 20,000 boe/d (mostly crude) since the restart of regular production in 2017 (see chart). Fo...
Volume: 65Issue: 26Published at Fri, 01 Jul 2022 -
Opec+ Ratifies Agreement To Unwind Cuts In August
...20. Iraq arguably has the wellhead capacity to go above its August allocation of 4.651mn b/d, but export capacity limitations mean it will struggle to do so (MEES, 15 April), while a 522,000 b/d capacity drop for Kuwait Oil Company (KOC) since 2017/18 means that Kuwait may struggle to hit its 2....
Volume: 65Issue: 26Published at Fri, 01 Jul 2022 -
Qatar LNG Expansion Partners Eye Liquids Riches
...eviously told MEES that “there is nothing determined that we want to sell to anyone in particular. Some is sold on the spot market, some short term, some longer term. Our marketing guys just market it to get the best price” (MEES, 8 December 2017). NFE ethane is earmarked for a 2.08mn t/y ethane cr...
Volume: 65Issue: 26Published at Fri, 01 Jul 2022 -
Exxon Starts Cyprus Seismic, Eyes More Wells
...elded the giant 21.5tcf Zohr field on the other side of the Cyprus/Egypt maritime border. It was Total that confirmed that the ‘Zohr-like’ play extended into Cypriot waters, though its 2017 Onesiphoros well on Block 11 failed to find commercial quantities of gas (MEES, 15 September 2017). Once En...
Volume: 65Issue: 26Published at Fri, 01 Jul 2022 -
Energean Advances Israel Drilling Plans
...2017 (MEES, 15 December 2017), These blocks include the sites of the potential fourth and fifth wells of Energean’s 2022-23 program: wildcats targeting the 1.1tcf Hermes prospect on Block 31 and the 2.7tcf Hercules prospect on Block 23 (see map). These are potentially costed at $50mn each ve...
Volume: 64Issue: 26Published at Fri, 02 Jul 2021 -
KRG Finances Remain Precarious Despite Export Revenue Boost
...arters of 2021 will doubtless have been markedly higher than in late 2020. EXPORTS ON THE RISE KRG crude exports from Ceyhan in 1Q 2020 averaged 465,000 b/d, their highest figure since Erbil lost control over most of Kirkuk’s producing fields to the federal government in October 2017 (MEES, 20 Oc...
Volume: 64Issue: 26Published at Fri, 02 Jul 2021 -
India’s Reliance Signs Up To Key Abu Dhabi Downstream Project
...gn up to a ‘world-scale’ project. In 2017, Adnoc announced plans to more than triple its petrochemicals capacity to 14.4mn t/y by 2025 (MEES, 1 December 2017). As well as expanding its petrochemicals facilities, Adnoc is also working to move further along the value chain through the production of mo...
Volume: 64Issue: 26Published at Fri, 02 Jul 2021 -
BP Drilling Offshore Egypt
...% TO JUST 1.1BN CFD FOR 2020 (BN CFD) SOURCE: ENI, MEES CALCULATIONS. Further to the west, BP’s largest project offshore Egypt, West Nile Delta (WND) has suffered even steeper declines. Output from its first two phases, which only started-up in 2017, has fallen precipitously to ap...
Volume: 64Issue: 26Published at Fri, 02 Jul 2021 -
QP Ousts Maersk At Key Qatari Oil Field Amid Sectoral Revamp
...tar announced on 28 June. Maersk’s current 25-year 100% operating production sharing contract (PSC) at al-Shaheen expires in July 2017. This will be replaced by a joint venture comprised of Total (30%) and state oil firm Qatar Petroleum (QP, 70%). Often seen as incidental to Qatar’s economy due to th...
Volume: 59Issue: 26Published at Fri, 01 Jul 2016 -
Algeria: No Cash, Investment Slashed… Output To Soar. Come Again?
...nual report indicate that the company sees Algeria’s oil output rising to 75mn tons/year (1.62mn b/d using a 1 ton =7.86bl conversion factor for light Saharan Blend crude) in 2017 and 2018, before increasing further to 77mn tons (1.66mn b/d) in 2019 and 82mn tons (1.77mn b/d) in 2020. Algeria produced 1....
Volume: 59Issue: 26Published at Fri, 01 Jul 2016 -
Algeria Seeks Schedule Discipline For New Refineries, Hints At Outside Equity Need
...fineries to raise refining capacity from 651,000 b/d now to almost 1mn b/d. Mr Mekmouche says that if oil prices stay above $60/B from 2017 there is a “high probability” that Sonatrach will be able to finance all its projects “from its own resources.” But prices of around $30/B would leave pe...
Volume: 59Issue: 26Published at Fri, 01 Jul 2016 -
Dubai Sets New PV Cost Benchmark In 800MW Phase Three Of Solar Park
...rgest single-site solar park in the world. A 13MW first phase was connected to the grid in 2013, while the 200MW second phase is scheduled to become operational in 2017. Dubai’s success with reducing electricity costs in its second and third phase solar park bids will likely be scrutinized with gr...
Volume: 59Issue: 26Published at Fri, 01 Jul 2016 -
Egypt Boosts Offshore Gas In Bid To Turn Around Output Slump
...ok to expedite development. Start-up by end 2017 is targeted, ramping up to 2.7bn cfd by end-2019. This is highly ambitious: the IEA considers first output “by the end of the decade” more realistic (MEES, 17 June). Nonetheless, Eni is pressing ahead. On 20 June it awarded Schlumberger subsidiary On...
Volume: 59Issue: 26Published at Fri, 01 Jul 2016 -
Oman’s PDO Bags $4bn Loan To Facilitate Bumper $20bn Upstream Plans
...bt service will rise from 30% of revenue last year, to 41% this year and 55% in 2017. MOODY'S GCC SOVEREIGN CREDIT RATINGS - 14 MAY DOWNGRADES Rating (outlook) was chg notes Saudi Arabia A1 (stable) Aa3 (st...
Volume: 59Issue: 26Published at Fri, 01 Jul 2016