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Adnoc’s Giant Onshore Concession Central To Future Bond Issues
...24 as a result of the CFP, and are set to easily break 2014’s record of 1.14mn b/d according to Kpler data. Exports this year peaked at 1.54mn b/d in April but have since eased off slightly averaging 1.31mn b/d for August (see chart 2). ADNOC ONSHORE RESERVES In preparation for th...
Volume: 67Issue: 37Published at Fri, 13 Sep 2024 -
Eni Spuds Key Morocco Wildcat
...per Jurassic but that the find was insufficient to justify testing (MEES, 21 March 2014). However it is worth noting that the subsequent decisions by both Cairn and Galp to quit their acreage and walk away from Morocco in 2015 and 2016 respectively were driven more by the collapse in oil pr...
Volume: 66Issue: 37Published at Fri, 15 Sep 2023 -
Algeria: Key Southwest Gas Field Start-Ups Boost Exports To 7-Year High
...d Reg Mouaded were originally to be developed by the UK’s BG (now Shell), and the Hassi Mouina license containing Hassi Tidjerane and Tinerkouk by Norway’s Equinor before the foreign firms walked away in 2013 and 2014 respectively having failed to agree commercial terms with Sonatrach (MEES, 29 May 20...
Volume: 66Issue: 37Published at Fri, 15 Sep 2023 -
Egypt Gas Output At Record High As Zohr Hits 2BN CFD
...NDENSATE OUTPUT (‘000 B/D): MED OUTPUT RETURNS TO EARLY 2014 LEVELS AFTER SLUMP SOURCE: EGPC, MEES....
Volume: 61Issue: 37Published at Fri, 14 Sep 2018 -
Israel Reviews Upstream Rules: Too Little, Too Late?
...rtfolio were dealt a blow by a subsequent 2014 ruling by Israel’s Antitrust Commissioner which forced both firms to sell off part of their Israeli interests – a process still ongoing (MEES, 15 May 2015). Needless to say this added further to the regulatory uncertainty which has stymied investment. One fi...
Volume: 61Issue: 37Published at Fri, 14 Sep 2018 -
East Med: Hope Despite Dry Cyprus Well, Lebanon Bid Round Deadline Delayed
...economic, especially since the oil price collapse in 2014 and the accompanying lower gas prices. By far the most active firm offshore Cyprus is Eni. The Italians have stakes in six of the seven blocks currently awarded, and are operator in four. In early August Eni said it would drill three wells ac...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
War-Torn Yemen Maintains Steady Crude Exports; China, Thailand The Key Buyers
...scale, renewed crude exports are providing an essential influx of revenue and liquidity to the embattled regime. Prior to the onset of the civil war between Houthi rebels and government forces in 2015, hydrocarbons provided 73% of export revenues according to IMF figures. Crude exports in 2014 re...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
Oman Looks To Bid Round For Exploration Boost
...ndered blocks appear less prospective. Block 43b was last operated by Hungary’s Mol which relinquished the 11,967km² block in 2014. A conventional gas play, previous owners combined have drilled only two wells with no discoveries. In Block 47, also mostly bordering open blocks, tight gas is expected to be...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
UAE Looks To Offshore Gas To Ease Growing LNG Addiction
...M) 2007 2008 2009 2010 2011 2012 2013 2014...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
Rig Count: Saudi Cuts Oil Drilling To 3-Year Low
...• Opec kingpin Saudi Arabia saw its rig count fall to a 30-month low of 115 in August; those targeting oil fell by four to 60, the lowest level since May 2014 (see chart 1). Saudi Arabia claims it is pressing ahead with ambitious long term plans to develop new output capacity, but the rig co...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
Middle East NOCs Keep Spending Despite Global Upstream Capex Squeeze
...Global upstream spending is set for a cumulative 2014-17 fall of near 50%. But Mideast NOCs are benefiting from the downturn to lower drilling costs and renegotiate development contracts. Upstream oil and gas capital spending (capex) fell by a whopping 25% last year, to just $583bn, from $77...
Volume: 59Issue: 37Published at Fri, 16 Sep 2016 -
Could Egypt’s Gas Find Revive Exports?
...0mn cfd (13%) drop seen between 2013 and 2014, the trend remains firmly down (MEES, 24 July). MEES estimates that gas output from existing fields will fall to just 3bn cfd in 2020, but the start up of WND in late 2017 should reverse the overall decline: 2018 output should be back up to 2015 levels of...
Volume: 58Issue: 37Published at Fri, 11 Sep 2015 -
South Sudan Oil Shutdown Leaves Indian Firm Reeling
...tronas have each lost just over half their output since 2011, with the bulk of this since the start of the current conflict, ONGC has seen its output reduced to zero (see table). For the year to 31 March 2014, ONGC’s South Sudan output was just below 6,000 b/d, according to the company’s latest annual re...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
Qatar Hires Rigs In Boost To Crude Output Plans
...ur wells of a 51-well program aimed at plateauing production at 300,000 b/d, and the firm is currently discussing with QP further development plans. As of the end of the second quarter, Maersk had completed just 10 wells of the $1.5bn, 51-well program that was expected to be completed by the end of 2014...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
MENA Active Drilling Rigs, August 2014: New Saudi, Kuwait Record; Iraq Drilling Slump*
...MENA Active Drilling Rigs, August 2014: New Saudi, Kuwait Record; Iraq Drilling Slump* Au...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
Libya’s NOC Tries To Look Beyond Continued Chronic Instability
...oduction resume from eastern fields, output could average 500,000 b/d in the fourth quarter, while the longer term forecast is for a production average of 800,000 b/d, assuming that some groups will keep substantial volumes offline, through 2014 and 2015. “In the meantime, the risk of state collapse re...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Saudi To Keep Crude Output High Amid Soaring Domestic Demand
...abiyah non-associated fields had been expected to come online in 2014 to feed the Wasit gas plant, currently under construction. Ordinary supply of 2.5bn cfd will produce 1.75bn cfd of sales gas and can be augmented to 3.05bn cfd in peak summer demand months, Saudi Aramco revealed. Also starting up in 2014...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Iran Revisits Hydrocarbon Contracts In Effort To Boost Output
...uld cut its current account deficit, and save up to $8.5bn in foreign exchange over the current fiscal year (April 2013-March 2014) by increasing its reliance on Iranian oil, for which it is in theory able to pay entirely in rupees (MEES, 8 September). And while Tehran is yet to give an of...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
AGOCO Steps Up Exploration In Libya’s Ghadames Basin
...d now has until early 2014 to drill its one commitment well on the block which lies in water depths of zero to 2,200m. Foreigners On The Sidelines AGOCO’s activity contrasts with the majority of international oil companies’ Libyan upstream positions. These firms, for the most part, have be...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012