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Libya Exploration Picks Up Steam As NOC Reiterates Ambitions
...13). Only two wells, of what had originally been planned as an 11-well campaign, were ultimately drilled. But though both saw “gas discoveries … in Devonian horizons,” the firm pulled out its staff and wrote off its entire to-date Libya exploration spend of $137mn as security deteriorated in early 2014...
Volume: 66Issue: 48Published at Fri, 01 Dec 2023 -
Yemen’s Breakthrough Truce Threatened By Houthi Military Attacks
...mbined cycle power plant. Yemen’s oil and gas sector had been declining since long before the onset of civil war. Production peaked in 2002 at 457,000 b/d with exports remaining above 100,000 b/d until 2014 (MEES, 15 September 2017). However, since the start of the conflict and the Saudi-led in...
Volume: 66Issue: 48Published at Fri, 01 Dec 2023 -
Algeria-Turkey LNG Deal
...-year extension inked in 2014. With output from the country’s own Sarkaya field in the Black Sea ramping up and Russia offering Ankara cut-price supplies for want of alternate markets, Turkey is evidently reluctant to commit to a longer-term contract for potentially more expensive oil-price-linked Al...
Volume: 66Issue: 48Published at Fri, 01 Dec 2023 -
Saudi Oil Export Revenues On Course For 25% Annual Drop
...ole, MEES estimates that oil revenues are on course to total $245-250bn. Although this is down significantly from last year’s bumper $327bn, it remains a historically high figure. With the exception of 2022, this would be the highest annual figure since 2014 (see chart 2). 2024: SUBJECT TO MA...
Volume: 66Issue: 48Published at Wed, 01 Nov 2023