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Lower Prices Hit OQEP Profits In Q3
...rrently under testing.” If a commercial discovery is made, it will be the block’s first after previous operator Maersk drilled a series of dry wells (MEES, 17 February 2017). Alongside these two fields it also operates Block 54 (60%), which borders Block 53, where Genel Energy secured a 40% stake in Ma...
Volume: 68Issue: 47Published at Fri, 21 Nov 2025 -
BP’s Eyes Raven Rebound As Egypt Output Slump Continues
...ypt, but its biggest project, West Nile Delta (WND) which started-up in 2017, has witnessed startling decline rates. In a bid to arrest that decline BP earlier this year launched a two-well infill drilling campaign at the Raven field, where output having hit 800mn cfd following 2021 start-up has since ha...
Volume: 67Issue: 47Published at Fri, 22 Nov 2024 -
Kuwait Pushes Back Upstream Capacity Target To Next Year
...elds, with KOC closing on its target of bringing overall conventional North Kuwait capacity to 700,000 b/d, just below the 2017-18 capacity peak of 760,000 b/d (MEES, 12 May 2023). KOC is increasingly deploying water injection and expensive chemical EOR techniques, while upping its drilling and workover op...
Volume: 67Issue: 47Published at Fri, 22 Nov 2024 -
Saudi Crude Exports Slump For Q3 On Record Oil Burn, Bumper Throughputs
...ghest on record behind 3Q 2017. Adding in direct crude burn, the figure of 2.78mn b/d was a nine-year high. 1: SAUDI CRUDE SUPPLY*: EXPORTS WERE SQUEEZED TO A NEAR 10-YEAR LOW 5.7MN B/D FOR Q3 (MN B/D).... 2: ...A RECORD LOW 63% CRUDE SUPPLY SHARE. IN CONTRAST, THE SHARE REFINED AN...
Volume: 67Issue: 47Published at Fri, 22 Nov 2024 -
Will Iraq Be Caught In The Crossfire Of Trump’s Iran Policy?
...restart Kurdish exports to Turkey’s port of Ceyhan. This is especially the case given rumors from Washington that pro-Kurdistan names are being touted for senior positions at the Departments of State and Energy. But the KRG has also painfully learned, from its failed independence referendum in 2017...
Volume: 67Issue: 47Published at Fri, 22 Nov 2024 -
Tunisia Oil & Gas Output Falls To New Record Lows
...8,000 b/d was hit in 1980. *Previous lows of 30,000 b/d plumbed in 2017 and 28,000 b/d in 2020 were linked to country-wide strikes (MEES, 2 June 2017) and Covid, respectively. This year’s new lows are the culmination of a chronic lack of investment: no development wells were drilled in Tunisia du...
Volume: 67Issue: 47Published at Fri, 22 Nov 2024 -
Zubair To Add 200,000 B/D Surface Capacity By End-2024
...commissioning, and it is now unclear if it will replace or supplement the existing facility. The previous addition to Zubair’s degassing capacity came in 2017 when Samsung Engineering delivered the 200,000 b/d Hammar-Mishrif station. ...
Volume: 66Issue: 47Published at Fri, 24 Nov 2023 -
Inpex To Sell Eridu Stake To Lukoil
...eviously offered to Chevron in 2021 under the now-defunct “Nasiriya District” project (MEES, 15 October 2021). Lukoil’s move might be well calculated given that Block 10’s appraisal program saw 797km2 of 3D seismic and 5,561 km of 2D seismic conducted in the area. When discovered in 2017, Eridu was es...
Volume: 66Issue: 47Published at Fri, 24 Nov 2023 -
Adnoc Agrees Egypt Entry As UAE East Med Footprint Grows
...addition to the stalled NewMed deal. QATAR: CYPRUS & LEBANON FOCUS Abu Dhabi is not the only Gulf state to take a firm interest in the East Mediterranean. Qatar, through its state giant QatarEnergy has been in the East Med since entering Cyprus in 2017 alongside US major Ex...
Volume: 66Issue: 47Published at Fri, 24 Nov 2023 -
Divided Kurdistan Struggles To Be Heard In Baghdad
...rum were cautiously optimistic that momentum is building behind the scenes to close the dangerous political divide between the two parties. The KDP had sought to take advantage of PUK divisions following the 2017 death of the party’s founder Jalal Talabani, but his son Bafel Talabani has now co...
Volume: 66Issue: 47Published at Fri, 24 Nov 2023 -
Middle East Firms Ramp Up Drilling Fleets
...between offshore drilling contractor Valaris and Saudi Aramco. ARO started operations in October 2017 and currently operates 15 rigs. The venture says it intends to order 20 new jack-up rigs over the next decade and expects the first two to be delivered in 2023. This pair are to be constructed at th...
Volume: 65Issue: 47Published at Fri, 25 Nov 2022 -
Qatar’s Neighborly Exports Jump As Regional Leaders Reconcile
...e extent to which regional states are seeking to draw a line under the damaging Qatar embargo which lasted from June 2017 until January 2021 (MEES, 8 January 2021). That embargo was finally brought to an end at the 5 January 2021 GCC summit at Al Ula in Saudi Arabia. Disagreements may still happen be...
Volume: 65Issue: 47Published at Fri, 25 Nov 2022 -
Kuwait Sees Eighth Consecutive Deficit Despite Oil Revenue Surge
...tween the legislative and executive branches of government. Even a debt law required to ease the government’s reliance on direct oil revenues by tapping into its dollar reserves has been stuck since October 2017. Kuwait’s bloated government expenses have depleted its General Reserve Fund (GRF) by some KD...
Volume: 65Issue: 47Published at Fri, 25 Nov 2022 -
The Curious Case Of Algeria’s Hassi R’Mel
...asured) are the only numbers to go off. While we’re still waiting on Sonatrach’s 2019 report, the 2018 version puts gross Hassi R’Mel output at 90 bcm/y, but then again, so did the 2017 edition. Contrary to what is stated, MEES is inclined to take these numbers as nominal capacity, rather than actual ou...
Volume: 63Issue: 47Published at Fri, 20 Nov 2020 -
Kuwait Oil Company Looks To Heavy Oil To Offset Capacity Declines
...RGET IN 2021 OR EVEN 2022 LOOKS A BIG ASK (MN B/D) SOURCE: KOC, MEES. 3: HEAVY OIL REMAINS CENTRAL TO KUWAIT’S LONG TERM PLANS ('000 B/D CAPACITY) SOURCE: KOC, MEES. CAPACITY TRENDING DOWN KOC’s production capacity peaked at 3.151mn b/d in 2017-18. With ne...
Volume: 63Issue: 47Published at Fri, 20 Nov 2020 -
Opec+ Looks Ahead To Crunch Meeting
...riod since January 2017 (MEES, 6 January 2017). With the current agreement running to the end of April 2022, the Opec+ producers are facing up to the prospect of more than five years of cuts. Little wonder then if fatigue is setting in within the group. The post-JMMC communique said that “the Co...
Volume: 63Issue: 47Published at Fri, 20 Nov 2020 -
Saudi Arabia To Shake Up Electricity Sector With SEC Reforms
...liquids in the utility sector last year. CAPACITY PUSH SEC’s generating capacity peaked at 56.6GW in 2017 and after a dip in 2018 and 2019 is expected to increase to around 56.5GW in the medium term. While peak demand has settled at just over 60GW since 2015 as a result of tariff re...
Volume: 63Issue: 47Published at Fri, 20 Nov 2020 -
Barakah Reactor At 80% Capacity
...ll capacity while its performance is monitored. Nawah says that once 100% output is achieved, the plant will be gradually shut down for a check outage which “takes place over several months.” Barakah-1 was planned for start-up in 2017, with the other three units to be brought on line at yearly in...
Volume: 63Issue: 47Published at Fri, 20 Nov 2020 -
Algerian Gas Exports Set For Quarter-Century Low
...derlying declines at aging fields. Even though three projects in the southwest with a combined 9.2bcm capacity have come online since 2017, Algeria has recorded output declines in each of the following years. And while the long-delayed 4.5bcm Touat project led by London-based Neptune Energy finally started up...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Not So Rapid: Aramco Malaysia Downstream JV Delayed
...ds. Aramco’s 9 November IPO prospectus says the PrefChem ARDS fire “has delayed the expected commissioning of the facility from the end of 2019 until the second half of 2020.” Aramco paid Petronas $7bn to buy into the PrefChem refinery and integrated petchems project in 2017, when it was called th...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019