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Saudi Crude Exports At Ten Year Low
...e Mediterranean terminal of Sidi Kerir. Total Sumed flows to the Mediterranean have dwindled to four-year lows in recent months (MEES, 21 August), and Saudi Arabian volumes are no exception to this trend. At 595,000 b/d in Q3, Saudi exports through the Sumed pipeline were the lowest since 1Q 2017...
Volume: 63Issue: 41Published at Fri, 09 Oct 2020 -
Qatar Petroleum Finalizes Idd al-Sharghi Takeover
...ES, 16 March 2018). QP partners France’s Total at Al Khalij and Al Shaheen, with the contracts restructured in 2014 and 2017 respectively. KEY QATAR OIL INFRASTRUCTURE QATAR MARINE GOING EAST Idd al-Sharghi’s 100,000 b/d capacity is by far the largest contributor to th...
Volume: 62Issue: 41Published at Fri, 11 Oct 2019 -
Iran Presses On With South Pars Development Despite CNPC Pullout
...velopment of Iran’s South Pars gas field (see map). The $4.8bn July 2017 contract was highly touted as the first major post-sanctions award to foreign firms (MEES, 7 July 2017). But, unfortunately for Tehran, it failed to spur further awards and ultimately has come to naught thanks to the return of sa...
Volume: 62Issue: 41Published at Fri, 11 Oct 2019 -
South Pars Oil Field: No Takers
...ich is operated by a 70:30 JV of Qatar Petroleum and Total. South Pars crude is heavy at 21° API and production started in 2017 (MEES, 24 March 2017) with capacity currently around 35,000 b/d. Denmark’s Maersk, which operated Al Shaheen until 2017, had been keen to take on the project prior to its ta...
Volume: 62Issue: 41Published at Fri, 11 Oct 2019 -
NOC Eyes Russian Firms’ Return
...king a full return, however. Tatneft was awarded eight exploration blocks (Areas 69, 82 & 98) in Libya in 2005 and 2007 (MEES, 28 July 2017, see map). It struck oil several times, but was forced to exit in 2011 as it was preparing for a fresh drilling campaign. It has been one of the few co...
Volume: 62Issue: 41Published at Fri, 11 Oct 2019 -
Iraq: Aging Infrastructure To Hinder Basra Gains?
...Cs operating the region’s supergiant oil fields. Iraq’s difficult contract terms, however, remain a perennial snag (MEES, 22 September 2017). BP, which operates Iraq’s largest field, the 1.5mn b/d Rumaila field (BP 47.63%, PetroChina 46.37%, SOMO 6%), is currently in talks with Iraq’s oil mi...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Lukoil Optimistic On Eridu
...Perhaps Iraq’s most promising new asset is the Eridu field (Lukoil 60% op, Japan’s Inpex 40%) located south of Gharaf in Block 10. The discovery was confirmed in early 2017 (MEES, 3 March 2017) and produced 6,000 b/d crude flows from its Mishrif reservoir during appraisal testing. Lu...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Burgan Dip Hampers Kuwait Oil Production Capacity Growth
...Production capacity in Kuwait edged up just 1,000 b/d in 2017-18 (to end-March) according to latest figures from state firm Kuwait Oil Company (KOC). An apparent dip in capacity at the flagship Burgan field offset the 80,000 b/d gains from Kuwait’s northern Jurassic fields resulting in ov...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Omani Oil Output Nears 1mn B/D Mark, Revenues Soar
...lumes coupled with rising prices. MEES estimates that crude and condensate export revenues brought in $1.98bn in September – the highest figure since December 2014. 3Q’s sum of $5.63bn is up $2.09bn year-on-year - nearly 60%. Year-to-date revenues are up 35% on the same period in 2017, which will he...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Kuwait Gets Light Oil, Gas Boost Despite More Political Turbulence
...tra Light (38°API, 1.2% sulfur). Thailand’s PTT is a key buyer of Qatar Land whilst Japanese refiners are the key customers for the other two grades taking 580,000 b/d of Arab Extra Light and 296,000 b/d of Das Blend in the first eight months of 2017. Kuwait currently has just one export grade, 31°AP...
Volume: 60Issue: 41Published at Fri, 13 Oct 2017 -
Kufpec Hit From Bongkot Sale Collapse Overshadows LNG Start-Up
...aving Kufpec even further from its 2020 target of 200,000 boe/d. It’s 2017 output without Bongkot (the purchase of which was to have been backdated) is now set to be just 82,000 boe/d (see chart). Kufpec’s attempts to buy its way to output growth with backdated purchases saw it recently agree to pa...
Volume: 60Issue: 41Published at Fri, 13 Oct 2017 -
Egypt Gas Output Set To Hit 5-Year High By Year-End
...an the Russian state firm will have to contribute some $1.2bn towards development, which comes to more than it has paid for the stake. ZOHR PRODUCTION PROFILE: ENI FLAGSHIP ALMOST READY FOR START-UP *OFFICIAL START-UP (1BN CFD FROM 6 WELLS) SLATED FOR ‘END 2017,’ 14 ADDITIONAL WELLS ARE SL...
Volume: 60Issue: 41Published at Fri, 13 Oct 2017 -
Libya Gives Up On Output Target Amid $126bn Losses But Hopeful On Exploration
...ars, while NOC has received only 25% of its 2017 budget, he says. Lack of cash has compounded the losses: the NOC chief claims that on a recent day output was 90,000 b/d lower than it would have been due to a lack of money, without specifying which fields he was referring to. Despite these ch...
Volume: 60Issue: 41Published at Fri, 13 Oct 2017 -
Iran Inks Petchems Deals With Shell, Sojitz; Tatneft Signs Up For EOR
...rms, with well-connected local firm Persia Oil and Gas (MEES, 7 October). At the signing of the NPC/Shell deal, deputy petroleum minister Amir Zamaninia said Iran aims to sign upstream deals worth $10bn by the end of the current Iranian year in March 2017. IRAN’S POST-SANCTIONS PRELIMINARY PE...
Volume: 59Issue: 41Published at Fri, 14 Oct 2016 -
Climate Change Takes Centre Stage Ahead Of COP 21
...e end of September to start a national cap-and-trade system in 2017. ...
Volume: 58Issue: 41Published at Fri, 09 Oct 2015 -
UAE To Spend $35bn On Reducing Gas Imports For Powergen
...an $50/B, Mr Mazru’i maintains that the UAE’s plan to raise oil output capacity to 3.5mn b/d by 2017, compared with 2.78mn b/d for 2014, will not be delayed by the fall in crude prices....
Volume: 58Issue: 41Published at Fri, 09 Oct 2015 -
Kuwait Sticks To 4Mn B/D 2020 Target, But Questions Remain
...wait hopes that the northern field – which extends into Iraq, where it is known as Rumaila – will produce 60,000 b/d of extra-heavy 12-15° API crude by 2017. Output would be doubled by 2020 and boosted to 270,000 b/d by 2030. Originally, Ratga was scheduled to produce 150,000 b/d by 2013, ramping up to 90...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Majnoon And Rumaila Give Iraq Much Needed Production Boost
...e 12bn barrel Majnoon oil field in January 2010, when they submitted a winning bid to raise output from a baseline of 46,000 b/d to a plateau of 1.8mn b/d by 2017 for a remuneration fee of $1.39/B. A lower plateau extended over a longer period would squeeze margins and Shell, along with ExxonMobil (We...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Algeria Optimistic On Future Production Potential
...natrach foreign joint venture partners planned to return expat personnel to In Amenas, the gas complex that was the site of a deadly attack by Islamist militants in January. Another key expansion project is Petroceltic’s 355mn cfd Ain Tsila development, slated for late 2017 start-up....
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Sonatrach Preempts Petroceltic Ain Tsila Sale
...rrels of condensate. First gas is scheduled for 2017. Petroceltic now owns 38.25% of Ain Tsila, whilst Italian power firm Enel has 18.375%. Petroceltic, following its initial 2011 farm out to Enel, has for some time sought to divest a second similar-sized stake: both to help fund development an...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013