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Egypt Oil Output Gains Pick Up Pace But Gas Woes Continue
...e rest of the year that will come online,” he says. The Western Desert’s total rig count averaged 79 for Q2 this year, the highest since Q4 2014. Egypt remains a key region for Apache, with ‘Apache Egypt’ capex (including a 1/3 stake held by China’s Sinopec) rising 8% quarter-on-quarter to $20...
Volume: 66Issue: 32Published at Fri, 11 Aug 2023 -
Apache Eyes 2H Western Desert Gains, More For 2022
...ypt, up from a Q2 average of six and just five – the lowest in well over a decade – for the preceding three quarters. But activity and spending remains low by any sort of historical perspective: the average 2014 rig count was 27 (see chart 2). Q2 saw 13 drilled and completed wells up from just six in...
Volume: 64Issue: 32Published at Fri, 13 Aug 2021 -
Egypt Falls Further Behind Oil Output Plan
...ntributed over 50% of the country’s overall oil output since 2014. The firm operates 25 concessions across the region through its two JVs with EGPC, Khalda and Qarun. Gross output from Apache’s Egypt fields, all in the Western Desert, fell to a two-year low of 200,400 b/d for Q2. This trend is due to co...
Volume: 62Issue: 32Published at Fri, 09 Aug 2019 -
US Scales Back Output Growth Projections
...2018 import volumes are level with 2017 and well up on 2014’s 29-year low of 7.34mn b/d. Opec’s share of US crude imports did, however, fall to a record low of 31.6% in May Having slid to a 30-year low of 706,000 b/d in the second half of 2017 volumes from Saudi Arabia have recovered somewhat si...
Volume: 61Issue: 32Published at Fri, 10 Aug 2018 -
Abu Dhabi Plans Further Offshore Reshuffling
...bmit a bid after the initial concession expired in 2014. Rosneft has sought to expand its regional presence of late (MEES, 16 June) and is also prequalified to bid for upstream contracts in Iran. ZAKUM CONSOLIDATION? No detail was provided as to how Adma will be divided, nor the rationale. But th...
Volume: 60Issue: 32Published at Fri, 11 Aug 2017 -
Egypt Oil Output: Apache Looks To Low Hanging Fruit For Output Rebound
...st couple of years. So a lot of low-hanging fruit that should help us with volumes and also with the ability to generate more free cash flow and also reinvest more,” he says. Apache’s most recent key Egypt output gains came in 2014 from the Ptah and Berenice fields in the Khalda Offset Permit in th...
Volume: 60Issue: 32Published at Fri, 11 Aug 2017 -
Offshore Exploration: What Chance Of A Rebound?
...azilian output is running at record levels, with the deepwater in June accounting for more than half of production for the first time (MEES, 4 August). But the exploration boom that led to this record output has tailed off: at 12 Brazil’s latest offshore rig count is less than half average 2014 le...
Volume: 60Issue: 32Published at Fri, 11 Aug 2017 -
Iraq, KRG Boost Oil Exports But Both Still Short-Changed
...spite receiving hardly any payments for their crude oil production since May 2014, have maintained operations and have continued to invest to support Kurdistan’s crude oil export. Crude oil export is the principal revenue earner for the Kurdistan Region. But, it is also recognized that it is di...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
BP, Eni Tout Improved Egypt Economics
...es to foreign oil firms fell sharply with two bumper payouts at the end of 2014, all the indications are that they have edged back up since, though Oil Minister Sharif Isma’il this week told Reuters that Egypt planned to cut its debts to $2.9bn by the end of August from the current $3.5bn. Dues were $3....
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Ganope Block Awards
...EGYPT Ganope Block Awards Ganope, the Upper (southern) Egypt-focused arm of state firm EGPC on 3 August awarded five of the 10 blocks on offer in its 2014 bid round, “an excellent result while facing the challenges of the recent decline in crude oil prices,” Ganope says. Total co...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Saudi Arabia Explains Goals Of CO2 Project
...taining its goal of improving oil recovery rates from mature fields. As reported by MEES previously (MEES, 7 Feb 2014), the CO2 injection project was stepped up at the start of last year when Saudi Aramco began conducting an enhanced oil recovery project at ‘Uthmaniyah. RECOVERY BOOST Saudi Ar...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Iran Plans March Azar Start-Up
...me way off the 60,000 b/d end-2014 production target (MEES, 25 July 2014). Plateau production of 170,000 b/d is slated for 2017. Under increasingly harsh sanctions over the country’s controversial nuclear program, Iran has fallen behind its predominantly Gulf Arab neighbors in the development of it...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Egypt Receivables Hit Record $7.5bn
...EGYPT Egypt’s new authorities have talked a good game on creating an investor-friendly climate by reducing the monies owed to IOCs active in the country. But the numbers tell a different story. Receivables have soared by $1.4bn over the first six months of 2014 to hit $7.5bn, MEES an...
Volume: 57Issue: 32Published at Fri, 08 Aug 2014 -
Oman Retenders Five Exploration Blocks
...ur years earlier. Oman is aiming to boost liquids output to above 950,000 b/d for 2014, and hold production steady at around this level for at least four years (MEES, 7 March). Gas production is slated to reach just shy of 4bn cfd by end-2014, as several gas projects come online over the next six to...
Volume: 57Issue: 32Published at Fri, 08 Aug 2014 -
New Drilling Record For Saudi Arabia, Kuwait, Middle-East & Opec
...REGIONAL MENA Active Drilling Rigs, July 2014* July Br...
Volume: 57Issue: 32Published at Fri, 08 Aug 2014 -
KRG Drilling Surges As Turkey Partners With ExxonMobil
...mestic sales. On the oil front, Genel was on course to boost Taq Taq capacity from around 140,000 b/d to 200,000 b/d by end 2014. Extended well tests at Miran and Bina Bawi of 3,000 b/d and 1,000 b/d respectively should lead to larger oil developments of 50,000 b/d each by end-2015. KRG oil ex...
Volume: 56Issue: 32Published at Fri, 09 Aug 2013