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Libya ‘Open For Business’ As Bid Round Eyes Global Majors
...pecting to award the new contracts during the last week of November. In terms of eligibility, many small and medium companies – including several that were operating in Libya prior to the 2011 civil war – were left disappointed after realizing during the presentation that they do not meet the minimum op...
Volume: 68Issue: 15Published at Fri, 11 Apr 2025 -
Cyprus Aims For 2025 LNG Imports
...s will have replaced oil as Cyprus’ dominant powergen fuel by mid-2025. The Vasilikos plant is slated to exclusively run gas at its two most modern 220MW combined cycle gas turbine units installed in 2011. Were these units to run flat out they would generate an annual 3.85TWh, just shy of th...
Volume: 67Issue: 17Published at Fri, 26 Apr 2024 -
Egypt Gulf Of Suez Renaissance: Can It Be Sustained?
...l was first discovered over 100 years ago. The region remained Egypt’s top oil producing province until 2011 when it was overtaken by the Western Desert. The region’s top producer is Dragon Oil, a subsidiary of Dubai’s state oil firm Enoc, with production reaching 66,000 b/d in February. Dr...
Volume: 67Issue: 14Published at Fri, 05 Apr 2024 -
Cyprus’ Aphrodite: Operator Chevron Mulls Cut-Price Tie-Back To Egypt Subsea
...r the 2011 discovery which lies 160km offshore on the Cyprus/Israel maritime border in 1750ms water depth. A development plan approved by Nicosia in November 2019 as part of a renegotiated PSC (MEES, 8 November 2019), envisaged five production wells and output of 800mn cfd, with tie-back di...
Volume: 66Issue: 14Published at Fri, 07 Apr 2023 -
ExxonMobil Quits Iraqi Kurdistan
...The US supermajor’s bold 2011 Iraqi Kurdistan entry sent shockwaves through Iraq. A decade later ExxonMobil has quietly packed its bags and quit its last remaining asset, Pirmam, without producing a drop from any of the six blocks it picked up. Any prospective replacement may eye a gas-re...
Volume: 65Issue: 17Published at Fri, 29 Apr 2022 -
Asian LNG Importers See Record Import Bill For Q1 Despite Slump In Volumes
...gure since 2011 (see chart 4 and p19 for full data). For global number three importer South Korea, Q1 imports were more resilient, but still at 13.47mn tons down 3% year-on-year (MEES, 15 April), whilst India, the most price-sensitive of the key Asian importers, saw an 18% year-on-year fall to 4.97mn to...
Volume: 65Issue: 17Published at Fri, 29 Apr 2022 -
Cyprus Set To Launch Reduced Drilling Campaign
...Eni and TotalEnergies are set to kick-off a two-well Cyprus exploration drilling campaign next month, two years after abandoning a six-well program. Chevron appears to have shelved an appraisal well on its 2011 Aphrodite find. Italy’s Eni and TotalEnergies, partners on seven blocks of...
Volume: 65Issue: 16Published at Fri, 22 Apr 2022 -
North Africa Gas Exports To Europe Fall Amid Russian Uncertainty
...bitious, particularly given the fall in exports from North Africa in the first quarter of the year. LIBYA FLOWS LOWEST SINCE 2011 Libya, which is another key supplier of gas to Italy through the 8bcm/y (775mn cfd) GreenStream pipeline, saw its exports hit a decade-low 3.2bcm (313mn cfd) last ye...
Volume: 65Issue: 14Published at Fri, 08 Apr 2022 -
Record Libya Output Boosts TotalEnergies To Mena Record
...T’s underutilized processing facilities. OMAN: FUTURE SOURCE OF GROWTH? TotalEnergies’ gas portfolio took a big hit in the first half of the last decade through the ongoing conflicts in Yemen and Syria, which between them took out more than 600mn cfd of net gas output (see chart 3). In 2011, th...
Volume: 65Issue: 13Published at Fri, 01 Apr 2022 -
Total Eyes 1mn b/d Of Gross Libya Output
...test to fly in on 21 April. Frequently hit by forced production shutdowns – whether due to civil unrest, budgetary issues or worker grievances – Libya has been a source of major disappointment to IOCs since the fall of long-time ruler Muammar Gaddafi in 2011. But even though Total’s net output ne...
Volume: 64Issue: 17Published at Fri, 30 Apr 2021 -
Oilfield Services Firms See Mideast NOCs Driving Long Term Growth
...contribution is the lowest since 2011, whilst the region’s share of Halliburton’s overall earnings has rapidly slid since peaking at 35% in Q2 2020: the Q1 2021 figure was just 25%. Halliburton says the largest contributor to its 6% fall in Mideast & Asia revenue for Q1 was “lower stimulation an...
Volume: 64Issue: 17Published at Fri, 30 Apr 2021 -
Gulf Offshore Market Firms, Now For Sustained Growth?
...gistical challenges. From near-records of over 50 active drilling rigs at the start of 2020, the region’s rig count collapsed to average just 25 for Q4 last year, the lowest figure since 1Q 2011 (see chart). Italy’s Saipem blamed “project rephasing” in the Middle East as a key source of its slump in...
Volume: 64Issue: 17Published at Fri, 30 Apr 2021 -
ExxonMobil Set To Exit Federal Iraq
...ant fields to reach full production capacity targets. Talks ultimately went nowhere. Iraq now aims to award a downsized 2.5mn b/d first phase to France’s Total (MEES, 2 April). The biggest controversy however was Exxon’s decision to sign up for six blocks in Iraqi Kurdistan in 2011, including as...
Volume: 64Issue: 16Published at Fri, 23 Apr 2021 -
Iraq Awards Mansuriya Gas Field To Sinopec
...arded have yet been finalized (MEES, 27 April 2018). Mansuriya development was originally awarded in 2011 to a consortium led by Turkey’s TPAO (22.5%op) alongside Korea’s Kogas (15%), and Kuwait Energy (since taken over by Hong Kong-listed UEG, 22.5%) and state-owned Oil Exploration Company (OEC 25...
Volume: 64Issue: 16Published at Fri, 23 Apr 2021 -
Israel's Leviathan Hits Q1 Output Record As Expansion Plans Move Up The Agenda
...rtner Eiten Aizenberg who first identified the Leviathan prospect. Unable to go it alone, the firm convinced Noble and Delek to farm-in in 2008, before 2010’s wildcat drilling success (MEES, 10 January 2011). Ratio was one of the first private firms to enter Israel’s upstream following its li...
Volume: 64Issue: 16Published at Fri, 23 Apr 2021 -
Russian Warships To Escort Iranian Oil Tankers To Syria
...MAGE’ In January, Syria’s Prime Minister Hussein Arnous put production from government controlled territories at 20,000 b/d. Prior to the outbreak of the Syrian civil war in 2011, the government’s production across the country was 390,000 b/d (MEES, 22 January). Plans to grow production from fields Da...
Volume: 64Issue: 16Published at Fri, 23 Apr 2021 -
Egypt Gas Surplus At Highest Since 2011
...bdued. Latest figures from Jodi show that domestic consumption was 5.88bn cfd for February, up only fractionally year-on-year. *The result is a gas surplus that hit 1.17bn cfd for February, the highest figure since December 2011 (see chart). This has in turn enabled LNG exports that leapt to a 10...
Volume: 64Issue: 16Published at Fri, 23 Apr 2021 -
Eni In Libya: What Does The Future Hold?
...w much clearer. Eni’s net gas output slumped by 42% to 594mn cfd, while liquids production fell 45% to just 56,000 b/d in 2020. Both figures are lowest since the 2011 revolution. Of course, Eni’s output fell elsewhere too as capex cuts, lower gas demand in Egypt and Opec restrictions bit in 20...
Volume: 64Issue: 15Published at Fri, 16 Apr 2021 -
Egypt Gas Output Tops 7bn cfd As Oil Plummets To New Lows
...ch the Mediterranean share of overall output leapt to 73.2% for February, just fractionally below the all time high set in December 2011 (see chart 1). And even in the Mediterranean all is not plain sailing with BP’s West Nile Delta (WND) project having seen output collapse to just 250mn cfd (MEES, 26...
Volume: 64Issue: 14Published at Fri, 09 Apr 2021 -
Iraq & Total Reach Initial Deal On $7bn Of Projects
...entually scandal as Exxon entered the KRG in 2011 (MEES, 21 November 2011). The next nine years saw it packaged under a $53bn Southern Integrated Infrastructure Project (SIIP) that was almost finalized with ExxonMobil and PetroChina but also fell apart (MEES, 10 May 2019). Both companies were expected to fi...
Volume: 64Issue: 13Published at Fri, 02 Apr 2021