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Cyprus: Total Spuds Key Wildcat As Unification Talks Collapse
...15 (MEES, 2 January 2015). “Regarding Cyprus, we plan to start drilling campaign at the last quarter 2017, drilling one well inside 2017 and another well back-to-back. And we are shooting the seismic so we have more clear idea about the size of the prospect in the second half of the year,” Chief ex...
Volume: 60Issue: 28Published at Fri, 14 Jul 2017 -
Tawke, Atrush Licenses Provide KRG With Output Boost
...oduction facility (EPF) by year end 2017 to be followed by a pipeline connection to the Tawke export terminal at Fishkabur.” There was no detail provided as to the capacity of the planned EPF. Combined production on the Tawke license has been averaging 115,000 b/d in early July. It averaged 111,000 b/d in...
Volume: 60Issue: 28Published at Fri, 14 Jul 2017 -
Syria’s Ongoing Conflict Inflicts Huge Loss Of $226bn To GDP
...om $1=S£47 in 2011, the report notes. The local currency has further depreciated of late, with the Central Bank of Syria quoting an exchange rate of $1=S£500 in mid-June 2017. ...
Volume: 60Issue: 28Published at Fri, 14 Jul 2017 -
Iran Takes Major Step Towards New Contracts. But Will IOCs Bite?
...oduction of 4mn b/d in the first half of the current Iranian year – by end-September – bringing the timeline aggressively forward from March 2017. This is a level not-achieved since August 2008, and not with any semblance of regularity since 2006. Production in June was 3.49mn b/d, up from 2.89mn b/d at...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
Gulf Keystone Deleverages, Eyes Output Boost
...mature in 2017 – reduced from more than $600mn to just $100mn, in exchange for equity. Existing shareholder’s equity would fall to 5% as a result, although they will be permitted to purchase $25mn worth of equity, bringing the total to 14.5%. This is at a price of $0.0109 per share (around £0....
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
Zohr: Gas Upgrade
...entities interested,” with a sale “something that we could have by 2017” he says. Eni on 7 July awarded its subsidiary Saipem, a €1.5bn ($1.66bn) engineering, procurement, construction and installation contract for the giant field. Saipem will work on deepwater field development of Zohr’s si...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
Record Stocks Cast Shadow Over Market Rebalance
...0). OPEC'S SHARE OF WORLD OIL* OUTPUT SET TO HIT 42% BY LATE 2017-IEA *CRUDE + NGLS. FORECASTS FROM 3Q16 ('CALL ON OPEC' FOR OPEC CRUDE). SOURCE: IEA JULY 2016 OMR. IEA SUPPLY & DEMAND FORECASTS, JULY 2016 (MN B/D) OPEC SUPPLY & DEMAND FORECASTS, JULY 2016 (MN...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
Dubai In 2.4GW Coal Award
...ys Barakah-1 is “88% complete” while the last reactor, Barakah-4, is “31% complete.” Korea’s Kepco E&C originally intended to bring one reactor online each year during 2017-20. However, Enec has recently been saying that the units are “scheduled to be delivered by 2020,” suggesting a delay in sc...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
Jordan Enjoys Cheap LNG Prices, But For How Long?
...ne). Vitol’s cargo is scheduled to arrive in mid-August and should be followed by more deliveries: Nepco has expressed an interest in an extra short-term deal of 18 cargoes per year for 2016 and 2017. Golar Eskimo, Jordan’s first LNG import facility, will be moored at Aqaba for 10 years under a de...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
Algeria Pushes New Refineries Beyond 2020, Fuel Deficit To Worsen
...spectively (see table). Biskra and Tiaret were part of an earlier four-refinery plan, with both initially due for 2017 start-up, to be followed by similarly sized projects at Ghardaia and Hassi Messaoud. Sonatrach started civil works at Biskra in 2012 and officially launched the project in 2013, saying it wo...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
Oman Turns To Sun For EOR And Rural Electricity
...heme at Amal field in 2010, producing 50 m3/d of steam. This 7MW plant will continue operating once the full-scale development is completed. The project will break ground this year, with start-up of the first glasshouse module due in 2017. The finished plant will comprise 36 glasshouses, which will be...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
KRG Helping Hand To Kirkuk Province Threatens To Widen Rift With Baghdad
...tback value of $50-54/B for exports from Ceyhan, based on the same Brent price but minus a $5/B quality discount, $6/B pipeline, throughput and trucking costs to Fishkabur. GKP says it has brought down the per barrel production cost at Shaikan to $5/B in 2015 from $7/B in 2017. Its total gross in...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
Kuwait Posts First Deficit In 15 Years
...oner than the 2017-21 timeframe that many international organizations had predicted. “The state treasury faces many challenges, the most important of which is the rise in current expenditure,” he says. As this becomes a permanent feature in the budget, it piles pressure on state’s finances and be...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
Sisi Risks Price Reform To Boost Energy Sector
...e deal is almost finalized, and Petroleum Minister Sharif Isma’il told the press that the project is on track to come online in 2017. Mr Allman-Ward tells MEES that developing North El-Arish will only be possible if the company receives remuneration above the standard gas price, and Mr Isma’il ha...
Volume: 57Issue: 28Published at Fri, 11 Jul 2014 -
Algeria Says Output Will Rise 15% By 2018.
...aly’s Edison, which will start production in 2017. Touat, also 4.4 bcm/year, operated by France’s GDF, and the 1.8 bcm/year Total-operated Timimoun are also slated for 2017 start-up. All three projects have already suffered extensive delays. In addition, the report details three Sonatrach-operated fi...
Volume: 57Issue: 28Published at Fri, 11 Jul 2014 -
Iran To Sideline Sinopec At Yadavaran
...state giant NIOC, which today jointly operates the field with Sinopec. This follows significant delays at the field – one of several key projects Iran hopes could help boost its domestic oil producing capacity over the coming years. Iran is targeting a highly ambitious 5.7mn b/d by 2017, up fr...
Volume: 57Issue: 28Published at Fri, 11 Jul 2014 -
Kuwait Clarifies Al-Zour Plans, Iraq Projects Halted
...r “mid-year”. The Aramco-Sinopec Yasref refinery has a target start-up date of 30 September. Aramco’s Jazan refinery is now expected online in 2017 after a six-month delay in tendering a linked power project. UAE’s Ruwais Expansion was scheduled for 1Q14 start-up, but commissioning is now under way fo...
Volume: 57Issue: 28Published at Fri, 11 Jul 2014 -
Abu Dhabi Power Capacity Hits 13.9GW
...th a small amount provided by burning diesel and last year a tiny amount from direct crude burning. There is also one 100MW solar plant. Total power and water produced by ADWEC in 2013 amounted to 65.49TWh and 263bn gallons (1.2bn cu ms) respectively. Diversity Plan In 2017 the Emirates Nuclear En...
Volume: 57Issue: 28Published at Fri, 11 Jul 2014 -
Cyprus: IMF Calls For Banks, Energy Restructuring
...osed a tender to import average volumes of between 0.6 and 1bcm/year for up to 10 years with first gas to be delivered between 1 January 2016 and 30 June 2017. Awarding a tender this year is unlikely (MEES, 18 April). Resource Fund The IMF review also calls for “an institutional framework for th...
Volume: 57Issue: 28Published at Fri, 11 Jul 2014 -
Law Change Hands Power, Oil Revenues To Iraq’s Provinces
...ound 8mn b/d by 2017; 6mn b/d by 2023 more likely. Includes 110,000 b/d refinery Misan 380 694 Includes 30,000 b/d refinery. Contracted to rise to 950,000 b/d by 2017; 700,000 b/d by 2020 more li...
Volume: 56Issue: 28Published at Fri, 12 Jul 2013