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OPEC Taps To Stay Open In 2016
...likely to realize considerable gains in 2016, as it prioritizes development of non-associated gas fields, and negating natural decline at existing oil fields. Meanwhile, the UAE will press ahead with plans to increase production capacity from current levels of around 3.2mn b/d to 3.5mn b/d by 2017, which co...
Volume: 58Issue: 52Published at Wed, 23 Dec 2015 -
Iran Seeks To Reclaim Former Markets In 2016
...16, or a supply glut extending into 2017 (MEES, 18 December). Given Iran’s high natural decline rates of 8-10% per year and low recovery rates of 20-24%, any significant sustainable increase in crude production will require the investment and technical expertise of IOCs. Cognisant of this, Iran ha...
Volume: 58Issue: 52Published at Wed, 23 Dec 2015