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Algeria: Sonatrach Re-Engages With IOCs In Race Against Upstream Decline
...geria as part of its wider company strategy, provided that it finds a willing bidder in the current environment. Repsol, which secured the Boughezoul block in partnership with Sonatrach last year, is not expected to start drilling before 2017. The block is located in the Atlas mountains in the north of...
Volume: 58Issue: 52Published at Wed, 23 Dec 2015 -
What Does 2016 Hold For The Eastern Mediterranean?
...velopment plan for Zohr while UK-firm BP will be preparing for the 2017 start-up of its $12bn, 5 tcf West Nile Delta (WND) project, which will start paving the way for Egypt to become energy independent by the turn of the decade. Cyprus and Israel hope Zohr and by association, Eni’s exploration model of ta...
Volume: 58Issue: 52Published at Wed, 23 Dec 2015 -
Petchems To Dominate MENA 2016 Downstream After 2013-14 CDU Boost
...its during 2017-18. Egyptian state petchems firm Echem is also progressing a number of petrochemicals projects, including two which could potentially be completed in 2016: Ethydco Ethylene, a 460,000 t/y ethane cracker; and the 400,000 t/y Ethydco Polyethylene plant which will process most of the cr...
Volume: 58Issue: 52Published at Wed, 23 Dec 2015 -
Key 2016 Power Start-Ups Oil & Gas-Fired Despite Increasing Renewable Focus
...me companies have also been contracted to build the 200MW Noor-2 and 150MW Noor-3 plants at the same location, for start-up in 2017. In Jordan, three solar photovoltaic (PV) plants are scheduled to start up at Ma’an: the Shams Ma’an joint venture is building a 52.5MW plant, while Norway’s Scatec So...
Volume: 58Issue: 52Published at Wed, 23 Dec 2015 -
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 -
NOCs To Drive Gulf 2016 Output Gains Despite Further Belt Tightening
...l in power plants (MEES, 23 October). The UAE, meanwhile, plans to increase production capacity from current levels of 3.2mn b/d to 3.5mn b/d by 2017. Much of the planned increase is slated to come from offshore fields. The country’s offshore currently produces around 1.25mn b/d of the UAE’s 2....
Volume: 58Issue: 52Published at Wed, 23 Dec 2015 -
Crunch Time For GCC Fiscal Reforms
...expected to hit 21% of GDP in 2015, but to narrow in 2016 and 2017, according to NBK. Oman has partially offset the drop in oil prices by boosting liquids production to record levels, hitting 1mn b/d in July. BAHRAIN Bahrain like Oman is also among the most vulnerable GCC countries to weak oi...
Volume: 58Issue: 52Published at Wed, 23 Dec 2015 -
Qatar 2016 Budget: $13bn Deficit, The First In 15 Years
...rther fall in prices is in the works. As such the deficit is likely to substantially exceed the planning ministry’s estimate. The report sees oil and gas prices rising marginally in 2017 (see table), with Qatar running a second consecutive deficit of 3.7%. The QEO expects Real GDP growth 3.7% in 20...
Volume: 58Issue: 52Published at Wed, 23 Dec 2015