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Oman Sweetens Terms In A Bid To Entice IOCs To ‘Complex Assets’
...troleum Development Oman (PDO), to pioneer unique development techniques including enhanced oil recovery (MEES, 5 July). The sultanate also possesses sizeable unconventional gas assets including the massive 1.5bn cfd Khazzan & Ghazeer tight gas development which, when it started up in 2017 helped sp...
Volume: 67Issue: 45Published at Fri, 08 Nov 2024 -
Iraq To Launch New Basrah Medium Grade In January 2021
...aims to launch the new grade on 1 January, less than two months from now. The expedited timeframe has taken many observers by surprise. Somo has long planned to launch Basrah Medium, first floating the idea in 2017 (MEES, 26 May 2017). As recently as May 2019, Somo Director General Alaa Al...
Volume: 63Issue: 45Published at Fri, 06 Nov 2020 -
Iraqi Kurdistan Closes In On 500,000 B/D Oil Production
...late 2017 (MEES, 20 October 2017), Iraqi Kurdistan’s tempestuous oil sector is poised to once more produce 500,000 b/d as foreign firms continue to invest in the region (see chart). By the end of the year, MEES expects output to exceed 490,000 b/d, with 500,000 b/d breached in early 2020. Ov...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
Egypt Oil Output Target Slips Further From Reach
...Egypt’s oil output fell to a two and a half year low of 619,000 b/d for September with output from the country’s oil heartland Western Desert also slipping to its lowest level since April 2017. Egypt’s target of reaching oil output of 690,000 b/d by June next year appears to be slipping fu...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
Abu Dhabi Pledges Mammoth $132bn Investment With 5mn b/d Output Plan
...t it targets 6.5mn b/d by 2022 – while that may prove too optimistic, production will likely climb above Adnoc’s planned 5mn b/d (which accounts for the bulk of UAE output). Outside of Opec, Canadian output is also forecast to climb past 5mn b/d during the next decade (MEES, 24 November 2017). Ad...
Volume: 61Issue: 45Published at Fri, 09 Nov 2018 -
Israel: Pipeline Bottleneck Blunder Adds to Exports Headache
...port Israeli gas. EXPORT DREAMS Long hindered by commercial and political complications (MEES, 6 October 2017), Israel’s gas sector scored a “historic” victory in February when Noble and its Israeli partners signed a controversial deal with Egypt’s Dolphinus Holdings to export up to 70...
Volume: 61Issue: 45Published at Fri, 09 Nov 2018 -
Repsol, BP & Eni Eye Algeria/Libya Border Bonus
...ving the name of the block in Spanish. Repsol was awarded the block on the Libyan border in 2009 and drilled several successful wells between 2012 and 2015 (MEES, 24 April 2015). Erstwhile partners Enel of Italy and Engie of France pulled out in late 2017 – the result of a strategic decision by bo...
Volume: 61Issue: 45Published at Fri, 09 Nov 2018 -
Oxy Leads Renewed Omani Exploration Push
...19. The firm this week announced that it has secured two exploration blocks – 65 & 51 – in Oman’s 2017 bid round, and also picked up the newly created Block 72. All are contiguous with its existing assets. Oxy already operates 90,000 b/d Block 9, as well as the 120,000 b/d Block 53 in the co...
Volume: 61Issue: 45Published at Fri, 09 Nov 2018 -
Reality Sets In As KRG Imagines Life With Less Oil
...ducting a range of federal expenses. But Reuters reports that the draft 2018 budget law cuts the KRG’s share to 12.6%. The 2017 budget pegs total expenditure of $90.6bn (MEES, 8 September) without setting out a KRG share. 12.6% of the 2017 figure would equate to $11.4bn. Prior to losing Kirkuk MEES es...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Israel Gas Projects Advance, But Buyers Remain Scarce
...ofitable. Output at Tamar hit a record 997bn cfd for 3Q 2017 despite a six-day shutdown for maintenance late in September after a crack was found in a subsea pipeline (MEES, 29 September). The shutdown “coupled with strong growing demand in Israel highlights the criticality of the Leviathan project in pr...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Mauritania Gas: Torturous Timeframe, Exploration Optimism Despite Drilling Flop
...atus of at least four years as a hydrocarbon producer (longer if Tortue development fails to proceed like clockwork). The country’s sole production since 2006 has been from the Chinguetti offshore oil field. But output dwindled to just 4,000 b/d in 1H 2017, too low to make production (via the Berge He...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Abu Dhabi Oil Shake-Up: Hold On To Your Hats
...all Mubarraz, Umm al-Anbar and Neewat al-Ghalan fields. It also expects first oil from Adoc’s Hail field in the first half of 2017, with full production set to double output. Adoc has 1.4mn barrels storage capacity on Mubarraz Island, which is connected via a 16km pipeline to a Single Point Mooring (SP...
Volume: 59Issue: 45Published at Fri, 11 Nov 2016 -
Egypt Oil Output Collapses As Firms Cut Investment
...wn from a mid-2014 peak of €1.2bn. Egypt’s 25 tcf 2015 Zohr discovery is the jewel in the crown of Eni’s strategy of focusing on relatively-low cost large near-field tie-ins. This remains on target to start in December 2017, Mr Mondazzi says. Phase 1 output will reach 1bn cfd during 2018, pl...
Volume: 59Issue: 45Published at Fri, 11 Nov 2016 -
Egypt’s Waning Gas Output Receives Nile Delta Boost
...EGYPT Rising Nile Delta gas output offers the promise of relief to ongoing shortages. Egypt’s gas output has fallen every quarter since Q3 2012, dropping to just 4.2bn cfd in the third quarter of this year. A significant hike is unlikely before late 2017 when Cairo hopes to have st...
Volume: 58Issue: 45Published at Fri, 06 Nov 2015 -
Saudi Arabia’s Major Gas Development Stalls
...lay in gas substitution for power generation, which vies for gas feedstock with the petrochemicals sector and desalination plants, will eat into volumes of crude oil available for export in the future at a time when Saudi refining capacity is set to rise by 1.2mn b/d by 2017. Total oil burn, in...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Baghdad Caught in North-South Pincer As Basra Oil Heartland Seeks Autonomy
...x major oil fields in the south, within and around Basra province, that are being developed by foreign oil companies and where the bulk of additional crude oil is expected to be produced as Iraq ramps up to a targeted 9mn b/d of capacity by 2017 from around 3.3mn b/d. Call For Recogniton Ba...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Egypt Touts Block Awards But IOC Debts Mount
...periencing chronic delays. Originally slated for start-up in 2014, the 1bn cfd project will now likely come online in 2017. It is a delay that gas hungry Egypt can ill afford, and the government’s eagerness for future supply provides a powerful rationale for not letting payments to BP slip further....
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
November Political Changes Unlikely To Impact Energy Macro-Trends
...asons, why the OECD Energy Watchdog, the IEA, predicts total Middle East crude exports to China, will subside somewhat to 2.5mn b/d by 2017. According to the IEA’s Medium-Term Oil Market Report, total Gulf exports east will also decrease, but tepid EU demand and surging US supply will mean As...
Volume: 55Issue: 45Published at Fri, 02 Nov 2012