- Sort by:
- Score
- Published ▼
-
Cyprus Hopes For Mega Exxon Elektra Find To Jolt Its Gas Sector To Life
...permajor’s exploration position in a region where it has no current output. Exxon was awarded blocks 10 and 5 offshore Cyprus in March 2017 and November 2021 respectively, making the Glaucus find in the former on 2019 (MEES, 1 March 2019). It has since added three large Egyptian Mediterranean blocks, with Qa...
Volume: 67Issue: 50Published at Fri, 13 Dec 2024 -
KRG Repayment Obligations Offset Oil Revenue Gains
...ghest since the Deloitte audits began in 2017, and was more than the KRG’s net receipts. With IOCs in Kurdistan having already reported increased Q3 revenues, payments will have risen to more than $1bn last quarter. PIPELINE PAYMENTS MOUNT Following a 2017 transaction, the KRG’s 95...
Volume: 64Issue: 50Published at Fri, 17 Dec 2021 -
Libya’s Monthly Output Tops 1mn B/D
...tural decline is certainly one factor, the main reason for the slump was due to Istiklal’s second production unit being shut down since 2017. Having now restarted on 28 November, this should provide a healthy boost – eventually, at least. Sirte Oil says the restart of the second unit will allow its en...
Volume: 63Issue: 50Published at Fri, 11 Dec 2020 -
Libya’s NOC Clears House With Key End-Year Deals
...tput falls meant its pre-2010 contract remained valid. NOC didn’t. In 2016 it went as far as stopping Wintershall crude exports from Zueitina port (MEES, 3 November). In 2017 NOC chief Mustafa Sanalla said Wintershall was “free to leave” Libya if it didn’t want to sign new terms. And much more re...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Russia’s Tatneft Back In Libya For Seismic
...ab Geophysical Exploration Services Company (AGESCO) to complete 200 km² of seismic in Area 82’s Block 4 which was suspended in 2014. Tatneft was awarded eight exploration blocks (Areas 69, 82 & 98) in Libya in 2005 and 2007 (MEES, 28 July 2017, see map, p2). It struck oil several times, but was fo...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Leviathan: The Giant Stirs
...ypt. For years Noble struggled to get development off the ground. Only in February 2017, more than six years after discovery, did the operator finally go ahead with long-stalled development. The Texas-based firm not surprisingly presented this as a victory. But, in reality, go-ahead only came as a re...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Kuwait Oil: Change At the Top As 2020 Target Dropped
...nth. Mr Rashidi was only appointed in December 2017, but if he lasts into January then his tenure will have already exceeded that of his immediate two predecessors in the post (MEES, 15 December 2017). This revolving door at the oil ministry exemplifies the political disruption hampering Kuwait’s oil se...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
BP Goes Big On Egypt Gas Expansion
...gher price reflecting the share of development costs accrued between the two dates. BP is also Eni’s longstanding partner in a number of shallow water offshore fields that in 2017 contributed 1.82bn cfd or 37% of the country’s 4.97bn cfd output (MEES, 25 May). EGYPT KEY OFFSHORE GAS IN...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Mauritania: BP Eyes Second Hub With Tortue Set For Take-Off
...PANSION Total has rapidly expanded to rival BP as the leading major in Mauritania, in exploration if not development terms. Having only entered the country in 2017, it this week bagged two more large deepwater and ultra-deepwater blocks to take its total to five – all operated. The latest additions ar...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Moroccan Offshore: Going Nowhere Fast As Eni Hands Back Key Block
...th no guarantee of wells beyond this. Eni does retain the large Tarfaya Offshore Shallow block far to the south (MEES, 22 December 2017). But exploration here remains in its early stages. The only other major off Morocco is Chevron, which acquired three blocks at the start of 2013 (MEES, 1 Fe...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
East Med Bidding: Lebanon Bags Majors, Israel Goes Greek
...Whilst 2017 bid rounds from both Israel and Lebanon can be considered flops, at least Lebanon has succeeded in drawing in heavyweights Total and Eni. Hot on the heels of Israel’s 13 December announcement of the award of six blocks in the country’s 2017 bid round, neighbor Lebanon an...
Volume: 60Issue: 50Published at Fri, 15 Dec 2017 -
New Kuwaiti Oil Minister Faces Critical Year; Will He Last Longer?
...Fs will contribute 312mn cfd non-associated sour gas to Kuwait next year. Kuwaiti gas output has averaged 1.65bn cfd over the first nine months of 2017, and the additional volumes ought to bring total output to 1.96bn cfd. OVERSEAS DOWNSTREAM EXPANSION With Kuwait planning crude output and ex...
Volume: 60Issue: 50Published at Fri, 15 Dec 2017 -
Bahrain: Ambitious Gas Plans Boosted By LNG Import Go-Ahead
...A operates Bahrain’s largest power plant, the 1.54GW Al Dur plant, and plans to add a further 1.5GW in 2017 (MEES, 11 December 2015). MEES calculates that this will require an additional 170mn cfd of gas. But the biggest planned increase in gas demand in the next few years is set to come from wh...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
Bapco: Bids In For Refinery Expansion
...e EPC contract in the first half of 2017 with a view to having the expanded plant fully operational by the end of 2020. The refinery expansion will take place at the same time as construction of a new 350,000 b/d pipeline – which will replace an aging 230,000 b/d pipeline – to bring some of the pl...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
Kuwait: New Oil Minister Eyes Neutral Zone Restart
...cember). Many campaigned against the government’s recent fuel subsidy cuts and other measures designed to curb Kuwait’s budget deficit, set to reach KD9.7bn ($31.8bn) in the financial year to March 2017 (MEES, 11 November). Despite the gasoline price hikes (see table) Kuwaiti fuel is still the second ch...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
Eni Bags $2.1bn From Zohr Sell-Off
...hr. Both firms have the option to buy a further 5% by the end of 2017 when Zohr is slated to come onstream. Though the option is “on the same terms” the deal is structured in such a way that the price paid will be higher. Rosneft’s $1.575bn payment and BP’s $525mn include pro-rata “reimbursement of pa...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
BP Finalizes WND Purchase
...the second key element, alongside Eni’s 23 tcf Zohr development, in Egyptian plans to boost gas output towards the end of the decade. WND is slated for H1 2017 start up, ramping up to 600mn cfd by the end of the year and 1.2bn cfd – the equivalent of more than a quarter of Egypt’s current 4.3bn cf...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015