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BP, Shell Step Up Egypt Offshore Action
...the east. At North Damietta’s Atoll field, BP plans to drill a fourth development well in 1Q 2020 hiking output from 300mn cfd to 400mn cfd. Discovered in 2015, ‘Phase-1’ Atoll output began in December 2017. Development is also ongoing at the nearby Qattameya field, discovered in March 2017...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Algeria Touat: Imminent
...mpleted in 2016 (MEES, 25 August 2017). The Touat delay has forced Neptune to revise down its overall net output guidance for the year to 150-155,000 boe/d from 155,000 boe/d targeted in its Q1 results. Neptune’s 35% project stake will give it “around 16,000 boe/d net production at plateau,” a level th...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Total Lauds Latest QP Tie Ups
...ighboring blocks 2913B and 2912. QP will take 30% of Block 2913B, with Total retaining a 40% operating stake alongside private firm Impact Oil (20%) and state firm Namco (10%). The block lies 150km west of (ie further offshore from) the Kudu Gas field and Impact says that 3D seismic data acquired in 2017 in...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Mauritania: Total Wildcat
...cember 2017), and Shell with two blocks last year (MEES, 27 July 2018) also see Mauritania as a key part of their international exploration portfolio. As for the Pacific Santa Ana, following the completion of Total’s C-18 well, it will plug and abandon former production wells at the Chinguetti field un...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Saudi Bags Growing Share Of Key Chinese Market
...finers Sinopec and PetroChina shunning Iranian volumes, the bulk of recent arrivals, imported by state trader Zhuhai Zhenrong, appear to have gone into China’s strategic petroleum reserve (SPR), in particular the 19mn barrel site at Jinzhou northeast of Beijing which was completed in 2017. Data in...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Aramco Eyes Chinese Take-Away From Sabic Purchase
...e polyurethane components and other chemicals manufactured at the Sadara joint venture plant of Aramco and US firm Down Chemical in the Saudi downstream hub of Jubail (MEES, 28 July 2017). Indeed China, and Asia more generally, are also key buyers from Saudi refineries. However, the focus has be...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Bahrain’s Oil Sector Optimism Spreads To Powergen
...ve existing grid-linked power plants delivered 17.8TWh of electricity in 2018. Additions from the Alba power plants and the GGC grid took total electricity delivered to the grid to 18.0TWh. Bahrain’s peak load fell slightly to 3.44GW in 2018 from a record 3.57GW in 2017, although the trend in recent ye...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Saudi First Half Export Revenues Slump $6bn
...surprisingly therefore, oil revenues have fallen accordingly (see chart 2). They threaten to fall below $50bn/quarter for the first time since late 2017. The latest trade stats also further highlight the government’s struggles to end Saudi Arabia’s “addiction to oil” as Crown Prince Mohammad pledged in 20...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
US Slashes Tunisia Financial Aid
...18 and a 65% decrease on 2017’s $194mn, according to US Agency for International Development (USAID) data. Since coming into office in 2017 US President Donald Trump has repeatedly called for a decrease in US foreign economic aid. ...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Petrofac Scandals Weigh On Project Pipeline
...gust 2017). The London-listed firm also bagged a $1bn EPC deal in March to develop Algeria’s 2.2tcf Ain Tsila gas-condensate field (MEES, 15 March) – another key client seemingly unphased by Petrofac’s diminishing reputation. In Abu Dhabi it last month won FEED work for the Belbazem offshore pr...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019