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Cyprus’ Cronos Gas Find: Eni & Total At Odds Over Development Plan
...2017,” the government source tells MEES. “Maybe Total is unhappy that Cronos gas would go via Eni-operated facilities, potentially to an Eni-operated LNG export plant at Damietta, where it would have zero control over the gas,” the source speculates. Chevron had no such qualms when it fi...
Volume: 67Issue: 42Published at Fri, 18 Oct 2024 -
Crescent Activates Iraq Contracts, Targets 250mn cfd In 18 Months
...wer Plant through a 24 inch pipeline.” The executive adds that supplying the 1GW gas-fired facility was agreed with state firm Midlands Oil Company, “with a focus on delivering much needed gas for power generation.” The 700MW plant built in 2017 houses four 180MW GE GT13E2 gas turbines, and was bu...
Volume: 66Issue: 42Published at Fri, 20 Oct 2023 -
Kuwait Oil Company Capacity Slumps To 12-Year Low
...rget to 2040, KOC confirmed to MEES earlier this year. Production capacity has now dropped by 522,000 b/d since peaking at 3.15mn b/d in 2017-18; back then KOC still appeared to be in with an outside chance of reaching its 3.65mn b/d target (MEES, 20 April 2018). Despite bringing online he...
Volume: 64Issue: 42Published at Fri, 22 Oct 2021 -
Egypt’s LNG Exports Face Uncertain Future
...ST 13 CARGOES FOR 2020 VOLUMES ARE SET FOR THEIR LOWEST SINCE KEY OFFSHORE FIELDS STARTED UP IN 2017 SOURCE: BP, KPLER, MEES. EGYPT* IS SET TO LOAD JUST 13 LNG CARGOES IN 2020, LESS THAN A QUARTER OF THE 2019 FIGURE *ALL ELNG. ^PRESUMES REMAINING CARGOES AVERAGE 65,000 TO...
Volume: 63Issue: 42Published at Fri, 16 Oct 2020 -
Eni’s Zohr Under Threat From Water Infiltration
...ffered “steeper then expected declines” after 2017 start-up (MEES, 15 March 2019), whilst Phase-3 (Raven) has been delayed from late 2019 due to a pipeline snafu (MEES, 7 February). Shell’s key offshore WDDM fields, long the main source of feedstock for the 7.2mn t/y ELNG export terminal at Idku (see ma...
Volume: 63Issue: 42Published at Fri, 16 Oct 2020 -
Oman Gas Output To Top 5bn CFD As BP’s Ghazeer Comes Online
...ock’s first phase Khazzan project. The 2017 start-up of Khazzan transformed Oman’s gas fortunes (MEES, 29 September 2017), sparking renewed investment from international majors. All told, Block 61 will now account for more than a quarter of Omani gas and condensate production capacity. “I am de...
Volume: 63Issue: 42Published at Fri, 16 Oct 2020 -
Yemen: Second State Firm Restarts Production
...n’t the first firm to restart production following the start of Saudi Arabia’s military campaign in early 2015: state firm PetroMasila resumed production at Blocks 10 & 14 further east in 2016 where it currently produces around 40,000-50,000 b/d (MEES, 15 September 2017). Volumes are exported from the As...
Volume: 62Issue: 42Published at Fri, 18 Oct 2019 -
Algeria’s New Hydrocarbons Law: One Step Forward
...terly failed in bringing outside investment to sustain output – never mind increase it. Algeria’s last four bid rounds saw a measly 13 blocks awarded from an offered 67 (MEES, 20 October 2017). North Africa Risk Consulting’s Geoff Porter says even if the law was to pass in its current form “Al...
Volume: 62Issue: 42Published at Fri, 18 Oct 2019 -
Back To The Future: Rehabilitation Of Red Sea Terminal Boosts Saudi Export Flexibility
...e European market. Aramco confirmed the start-up of the terminal on 17 October, saying that it “marked the addition of 3mn b/d of crude oil to Saudi Aramco’s west coast export capacity.” This is less than implied by Aramco’s senior VP for upstream Muhammad al-Qahtani in a May 2017 interview with Re...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Iraq Continues IOC Investment Hunt, But Commitments Remain Out of Reach
...mestic demand is steadily marching upwards. Demand for gasoline and diesel alone is up 17% year-on-year through the first eight months of 2017, and the liberation of swathes of territory from Mosul will see this accelerate. The integrated Nasiriya project has also garnered interest from the Pe...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Algeria Plans New Hydrocarbons Law: Will Investors Bite?
...e licensing regime could help, or it could end up being yet another fig leaf for the institutional shortcomings of Algeria’s economic policy. ALGERIA’S FALLING CRUDE OUTPUT (MN B/D) *JAN-SEP 2017. SOURCE: MEES ESTIMATES. FAILING LICENSING REGIME Algeria’s current hy...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
In Search Of An Equilibrium Oil Price
...TURE OPEC OUTPUT REMAINS LEVEL WITH SEP’16 (33.40MN B/D, MEES EST.) SOURCE: IEA, MEES. MAJORS BULLISH, EVEN AT $50/B Having drastically cut costs from a record $25bn in 2013 to just $16-17bn this year, BP CEO Bob Dudley says that for 2017 at “just south of $55/B” the firm will not only be ab...
Volume: 59Issue: 42Published at Fri, 21 Oct 2016 -
Sudan Looks To Boost Output
...th the secession of South Sudan in mid-2011. This translated into a massive economic blow that the government in Khartoum is still struggling to come to terms with. Sudan now targets production of 150,000 b/d by 2017, Sudapet announced earlier this year, around 30,000 b/d up on current levels. Ou...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
US Shale A Threat To Mideast Condensate, Despite Oil Price Slide
...pansion of the Panama Canal is finished. While plans call for completion of the expansion next year, Mr Troner says that, more realistically, it will be finished in 2016 or 2017, allowing liquid tankers of up to 160,000 DWT to pass. Qatar’s condensate exports, meanwhile, are set to dwindle the same ye...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
Iraq Concludes Oil Port Expansion, Zooms In On Asian Market
...rkovers have been completed on three wells to handle rising water levels. Production from the 4.1bn barrel field is currently estimated at around 120,000 b/d and is set to rise to 535,000 b/d by 2017. The operator has announced the start of second phase development, with the arrival of four new Chinese dr...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
Glimmers Of Hope As Egypt Craves Stability
...lta, a project whose start-up date has been pushed back by three years to 2017. Egypt is also taking first steps towards developing unconventional reserves. US independent Apache is looking to move forward with exploration activity for tight gas in the Western Desert by drilling seven or eight te...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
Saudi Arabia Looks To Hold Steady Around 10mn B/D Through Year-End
...aybah and Khurais fields by 2017. At current production, estimated by MEES at 10.11mn b/d in September, Saudi Arabia is left with close to 2.4mn b/d of spare production capacity. For Riyadh to maintain spare capacity at 2.5mn b/d for the medium term (including neutral zone production), would su...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013