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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 -
Petrofac Seeks $530mn From Bp/Equinor Algeria Gas Project As Finances Stretches By Continued Saudi Boycott
...ly managed to fully complete the In Salah tie-ins in November 2017 – some 30-months beyond the development’s original 50-month work-schedule. It remains unclear how much of the delay stemmed from the In Amenas attack: similar-length delays are par for the course in Algeria. STRETCHED FI...
Volume: 63Issue: 45Published at Fri, 06 Nov 2020 -
In Salah & In Amenas Gas Output Slump
...oduction hitting a 12-year high 808mn cfd in 2018 following the November 2017 tie-in of four ‘southern fields’ with the completion of a $1.2bn EPC contract by the UK’s Petrofac (see main story). Whereas In Salah saw a sudden collapse in output from Q2 – a timing that meshes with Europe’s Covid-related de...
Volume: 63Issue: 45Published at Fri, 06 Nov 2020 -
KRG’s Sarta To Start Soon
...me online since the startup of 50,000 b/d Atrush in 2017, and could provide a significant boost to the region’s struggling oil sector. The startup of a new field, and critically the first operated by a US major, will be welcome positive news for the KRG– even if it will do little to rectify the on...
Volume: 63Issue: 45Published at Fri, 06 Nov 2020 -
Siemens Talks Mena Power With MEES
...dividuals working closely with the government. And most importantly, they have a better electricity system than they did before. ON A LIBYA REENTRY Q: Siemens signed a €700mn deal with Libya to build two power plants in 2017 that appears to have been derailed by ongoing in...
Volume: 63Issue: 45Published at Fri, 06 Nov 2020 -
Dana Makes Sukuk Payment
...UAE-based, KRG focused independent Dana Gas announced 2 November that it has “fully redeemed the $309mn” outstanding balance of a Sukuk issued on 31 October 2017. Dana, which has a history of strained relations with its Sukuk holders (MEES, 18 August 2017), had already made $221mn worth of re...
Volume: 63Issue: 45Published at Fri, 06 Nov 2020