Egypt Gas Woes Continue As Output Slumps At BP’s Raven

...ases, output peaked at 2bn cfd in 2008 but had halved by 2014, with output now just 300mn cfd. Shell is moving ahead with Phase-10 and Phase-11 of the project but here any additional output will be offset by decline and the project may struggle to make it past the end of this decade.   At Zohr th...

Egypt Gas Output Slumps On Zohr Outages

...bruary’s record low (MEES, 9 April). Sustained falls in oil output have come as firms slashed spending following 2014’s oil price slump and then again last year (MEES, 12 February). Key Western Desert producer Apache says it hopes to raise investment in the second half of this year, with output growth to...

Iraq: Is China’s UEG Finally Ready To Realize Block 9’s Potential?

...ERGY GROUP: IRAQ ASSETS DEVELOPMENT STRATEGY    When first discovered in 2014 Faihaa – itself an extension of Iran’s 112,000 b/d Yadavaran field (see map) – was touted as the “largest discovery in Iraq in the last ten years” (MEES, 12 September 2014), although it has since been eclipsed by Lu...

Libya: Terminals Reopen, Instability Remains, Haftar Strengthened?

...Egypt, the UAE and to an extent Russia. The US responded to an attempt by Mr Jathran to sell an illicit crude cargo in March 2014 by intercepting the North Korea-flagged vessel (MEES 21 March 2014), but “the Americans will never ever stop a Russian – or Egyptian or UAE – flagged ship,” says Pu...

GCC States Double Down On Gas Development

...M)                         2007 2008 2009 2010 2011 2012 2013 2014...

Delayed Projects To Shave Cumulative 80bcm From Algeria’s Gas Output By 2020

...e SWGP, has been delayed even more than that of its neighbors. The field will join two other fields handed over to Sonatrach by IOCs in 2014-15 after a failure to agree terms: Hassi Ba Hamou and Hassi Mouina. The three fields together make up what is now being described as SWGP phase 2. Hassi Ba Ha...

Iran Takes Major Step Towards New Contracts. But Will IOCs Bite?

...11, but its lack of activity caused Iran to hook it from the field in 2014 with production at 50,000 b/d, well shy of the planned 320,000 b/d. IRAN POST-SANCTIONS UPSTREAM AGREEMENTS WITH FOREIGN FIRMS   TOTAL CRACKS ON     Total is at the forefront of IOCs in line for an IPC. It ma...

KRG Crude Revenues Set To Edge Higher For 2016

...ivate Kurdish firm Kar. Kar operates the Khurmala dome of the Kirkuk field, and has also operated the Avana Dome and nearby Bai Hassan field following the KRG’s seizure of contested territory from so-called Islamic State in 2014. Kar President Baz Karim said in December the firm plans to increase co...

Cairo Edges Closer To Paying International Gas Prices

...cline, falling from 3.4bn cfd to 2.4bn cfd between the start of 2014 and April 2015 – and this with the Eni-operated Denise-Karawan (DEKA) fields, ramping up from August 2014 start-up to 460mn cfd in the meantime (MEES, 29 May). The Italian firm has been stalling on plans to invest $5bn in developing ad...

Sisi Risks Price Reform To Boost Energy Sector

...is expenditure by about a third, saving $6bn in over the 2014-2015 fiscal year that began on 1 July. Reducing the cost of energy not only slims the budget deficit, a vital step to balance battered state finances. It also frees up funds for Egypt’s upstream sector, where chronic underinvestment has di...

Algeria Says Output Will Rise 15% By 2018.

...stream, according to the state giant’s 2014-18 Medium Term Development Plan, state news agency APS says. These gross numbers are misleading as they include gas which is subsequently re-injected, but the direction of the official Algerian projections clearly differs from the forecasts in the In...

Iran To Sideline Sinopec At Yadavaran

...yer of Iranian crude taking 650,000 b/d for Jan-May 2014....

MENA Active Drilling Rigs, June 2014*

Juba Looks To Develop Oil Sector As Khartoum Revokes Oil Threat

...finery in August, and a second one in early 2014. The first of these refineries – a 5,000 b/d ‘mini-refinery’ in Bentiu in Unity state – is being built by Russian firm Safinat Caspian Oil Refining Company, which signed a memorandum of understanding with Juba in December last year.   The se...