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GCA To Assess Turkmen Upgrade Of South Yolotan Reserves
...ted. He said it was necessary to “shoot as much seismic as possible both on the onshore and offshore sections of the block.” 3D seismic data will be acquired throughout 2011....
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Belarusian Imports Of Venezuelan Crude May Impact Russian Oil Exports to Europe
...ude to Belarus. Some 4mn tons would be delivered in 2010 and 10mn t/y during 2011-2012. Belarusian state firm Belarustransneft and Ukrainian transportation company UkrTransNafta later signed a 5mn t/y transit contract. This could impact supply to Europe, since Ukraine and Belarus have decided to re...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Vegas To Lower NW Gemsa Production For Water Injection Preparations
...ovide significant reserve and production additions in 2011,” partner Sea Dragon Energy said. Gross production from the 264 sq km concession was 9,500 b/d in September (MEES, 20 September). Vegas is operator on the acreage and holds a 50% interest, with partners Circle Oil (40%) and Sea Dragon (10...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
IMF Sees Volatile Oil Prices As Risk For Economic Growth In Iraq
...a modest increase in export volumes for the rest of the year, reducing the projected fiscal deficit to 14.2% from an initially anticipated 19.1%. Iraq: Selected Economic and Financial Indicators, 2007–12 2007 2008 2009 2010 2010 2011...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Gazprom In Talks With ACC International To Buy Into Med Ashdod Block
...ploration and drilling in 2011. Meetings between the two sides have taken place in both Israel and Moscow. The licenses that Gazprom are said to be interested in are estimated to hold gas reserves of 100 bcm....
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
New Jordanian Government To Pursue More Reforms
...mmur is part of the economic and financial team that overseas the IMF reforms. The new government is expected to continue with its drive to cut the budget deficit, estimated at JD1,060mn ($1,495mn) in 2011 (MEES, 15 November). ...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Lebanon Expects First Offshore Licensing Round Next October
...Middle East Economic Survey VOL. LIII No 48 29-Nov-2010 LEBANON/EAST MEDITERRANEAN Lebanon Expects First Offshore Licensing Round Next October Lebanon expects to launch its first round of offshore licensing bids in October 2011, the Lebanese Minister of Energy and Wa...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Gazprom And E.ON Score Exploration Successes With Sonatrach
...ock 19 drilling scheduled to start in February 2011. With both Algeria and Libya, Gazprom has signed memorandas of understanding regarding swaps (in Algeria’s case) and investment in third countries. Gazprom Libya has agreements with the Libyan Investment Authority (LIA) and also the Libyan Af...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Saudi Inflationary Pressures Expected To Ease in 4Q10, Says SAMA
...e situation will only deteriorate once Saudi banks return to higher levels of lending. “If Saudi lending goes back to normal, the inflationary pressures will become even worse” he added. With the weak dollar adding pressure, economists expect inflation in the kingdom to climb going into 2011, an...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Think-Tanks Say Intensified Violence In Sudan Could Cost Region Over $100Bn
...a high-conflict outcome, a scenario that would see growth remain 2.2% below IMF forecast levels from 2011 to 2024. Over a 25-year period, the projected loss in GDP would meanwhile range from between $118.4bn and $362.9bn. Such anticipated shortfalls would be mostly catalyzed by heavy damage to th...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Iraq And The Security Of Energy Supplies For Europe
...rridor and Iraq could become an energy bridge between the Middle East, the East Mediterranean and the EU. Finally, the first ever Joint Strategy Paper (JSP) for Iraq is a medium term plan covering 2011-13. The ‘Concept Note’ presents an outline of the JSP main guidelines, and the general focus of EU su...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Looming Gas Glut And Upstream Constraints Hamper North African Export Plans
...e new 4.5mn tons/year Skikda LNG plant, one of the two new LNG projects currently being implemented in Algeria. September 2011 was the start-up date initially proposed by the project’s operator KBR, although this had been put back to the second half of 2012. Egypt’s Orascom Construction and Fr...
Volume: 52Issue: 48Published at Mon, 30 Nov 2009 -
CNPC Signs Three Accords, Strengthens Its Presence In Sudan’s Oil Sector
...though no details of the planned expansion were mentioned last week, Sudapet’s Chairman Salah Wahbi was quoted as saying in July that plans were in place to raise Sudan’s refining capacity to 200,000 b/d by 2011. The plant was originally built by CNPC, which also completed the first expansion phase in...
Volume: 52Issue: 48Published at Mon, 30 Nov 2009 -
Plynostav Signs Contract For AGP Homs-Kilis Pipeline
...t at €52mn, and the new contract has reduced this amount to €25mn plus S£700mn ($15mn). Work is expected to begin shortly and be completed in March 2011. Stroytransgaz built a 320km section of AGP between the Jordanian-Syrian border to the Rayan gas plant near Homs. This section was put into op...
Volume: 52Issue: 48Published at Mon, 30 Nov 2009 -
Zadco Launches Long-Anticipated Capacity Push
...fshore Upper Zakum oil field. The incremental capacity was to have been on stream by 2011, but a review of the development strategy with a view to cutting costs has pushed this back to 2015. Costs on the development, which has to contest with deeply fractured geology, have been slashed by around 30% th...
Volume: 52Issue: 48Published at Mon, 30 Nov 2009 -
Yemen Considering Ways To Boost Exploration And Offset Declining Oil Production From Mature Fields
...udying the possibility of a pilot project using Enhanced Oil Recovery (EOR) technology next year. However, Nexen’s PSA expires in 2011 and, although the company is interested in extending the agreement, the government has not indicated yet whether it is ready to do so. Hence the likelihood of the de...
Volume: 51Issue: 48Published at Mon, 01 Dec 2008 -
Verenex Says Corporate Sale Of Libyan Assets Is ‘One Strategic Option’
...w weeks after the company submitted a final appraisal report to NOC for the first phase of the development of those discoveries (MEES, 17 November). The development plan envisages oil production of around 50,000 b/d and gas production of 50mn cfd, starting in 2011. But it is expected to cost ar...
Volume: 51Issue: 48Published at Mon, 01 Dec 2008 -
Oman Signs EPSA With Occidental And Mubadala
...mmence immediately and that production from the area in question is expected to begin in 2010 and reach plateau of about 165mn cfd (27,500 barrels of oil equivalent per day – boed) by the end of 2011. Occidental’s net share of production at plateau is expected to be approximately 10,000 boed, with Mu...
Volume: 51Issue: 48Published at Mon, 01 Dec 2008 -
Political Comment (1 December 2008)
...nflicting). So while the way is now clear for an American withdrawal from Iraq by the end of 2011 in accordance with the SOFA, it is now theoretically possible that this could take place by the middle of 2011 if the referendum gives the thumbs down, since the agreement specifies that it “can be terminated by...
Volume: 51Issue: 48Published at Mon, 01 Dec 2008 -
Condensate’s Growing Impact On Petrochemical And Transport Fuel Markets
...bstantially in expanding condensate processing capacity through 2011. While Thai imports remained steady, this market, together with China, will import increasing condensate volumes through 2016. Thailand has joined the ranks of major condensate importers and this market’s expanding condensate needs wi...
Volume: 51Issue: 48Published at Mon, 01 Dec 2008