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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 -
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 -
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 -
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 -
KRG Eyes Major Boost As Exxon/DNO Firm Up Baeshiqa Light Oil Find
...praisal drilling on the Baeshiqa license it had issued “a notice of discovery” for “light oil and sour gas” to the KRG. Located in territory disputed by Baghdad and the KRG, DNO agreed in 2017 to take half of ExxonMobil’s 64% stake in Baeshiqa and obtain operatorship (MEES, 8 September 2017). The cu...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
GCC Debt Smashes All Records
...2017 has been a record year for GCC sovereign and corporate debt. Sustained low oil prices and budget deficits since 2015 have led to an ever-growing appetite for issuance. NOCs are now getting in on the act too. GCC sovereigns have raised a record $50.5bn in international bond issuance to...
Volume: 60Issue: 47Published at Fri, 24 Nov 2017 -
‘Iran Is A Risk…The US Is A Risk’ Total’s Pouyanné Speaks To MEES
...oduction, 9% last year, more than 4% this year, more than 4% next year. We have a huge portfolio of projects. The strategy for me is that in a commodity business with volatility you need to invest when the price is low because the costs are lower too. But you need cash to do that. From 2017 we will again sa...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Mubadala To Invest $8bn In East African LNG Production
...s joint venture with ADNOC that operates Shah, Al-Hosn Gas, to run all three fields. Mr Kubota says Fujairah’s permanent import LNG terminal could be completed by 2017 taking total import capacity up to 1.2bn cfd. Phase one – 600mn cfd of LNG – will come from a floating regasification and st...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012