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KRG Drilling Surges As Turkey Partners With ExxonMobil
...mestic sales. On the oil front, Genel was on course to boost Taq Taq capacity from around 140,000 b/d to 200,000 b/d by end 2014. Extended well tests at Miran and Bina Bawi of 3,000 b/d and 1,000 b/d respectively should lead to larger oil developments of 50,000 b/d each by end-2015. KRG oil ex...
Volume: 56Issue: 32Published at Fri, 09 Aug 2013 -
Golar LNG To Supply FSRU Units To Jordan, Kuwait
...th Excelerate Energy, set to expire this year. Golar will send its 170,000 cubic meter Golar Igloo to Mina al-Ahmadi port and hydrocarbons hub in 4Q13 with operations to begin in March 2014. Kuwaiti state firm KNPC will use the FSRU to import LNG nine months per year but will allow Golar a three mo...
Volume: 56Issue: 32Published at Fri, 09 Aug 2013 -
Algeria: Key Oilfields Hit By ‘Temporary’ Production Restrictions
...rk will likely last at least into 2014, according to Talisman’s regional Executive VP Paul Blakeley. Both were speaking on a 31 July conference call to mark the firm’s second quarter results. Restrictions also currently affect the 24,000 b/d Menzel Ledjmet North (MLN) field which lies wholly on Block 40...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013 -
Saudi Petchem Firms Target Specialized Markets
...bail 2014 50,000 t/y nylon 66 SABIC Jubail 2014 140,000 t/y ABS SABIC/Mitsubishi Rayon Jubail 2014 25...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013 -
Occidental: Uncertainty Continues Over Middle East Assets
...s really just been exposed to this in detail at one meeting, and so it will take a little while and we want to consult fully with them and weigh all the alternatives for them. But clearly some things are going ahead quickly.” He added he hopes to achieve this before he steps down as CEO in 2014...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013 -
Germany’s RWE Faces Challenging Sale Of North African Assets
...oject – slated for 2014 start-up when sanctioned in 2010 – the key focus for 2012 was taken up with trying to find a new location for the onshore gas treatment plant. It now looks likely that the plant will be located 30km to the east from the originally-planned site at Idku [next to the BG-operated Eg...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013 -
Egypt’s New Budget Targets 14.5% Deficit Cut
...r a return to democracy by early 2014; and the recent containment of the government’s debt-financing costs, below post-revolution peaks. Moody’s added that the maintenance of the negative outlook on Egypt’s Caa1 rating is driven by Moody’s view of the country’s considerable economic and political ch...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013 -
Twilight Looms For OPEC’s Golden Age
...ploration – would appear to support OPEC’s argument as far as non-conventional oil development outside North America is concerned. But in the US supply is surging on the back of shale oil and gas development. The OECD’s IEA energy watchdog projects non-OPEC supply rising 1.2mn b/d this year and 1.3mn b/d in 2014...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013 -
Will OPEC Or The US Be The World’s Marginal Crude Supplier?
...oduction over the next several years is substantial, rising by an average of 1.2mn b/d over the period 2014-18. The spoiler is demand growth. With the OECD showing signs of long term decline, and non-OECD demand relying heavily on uncertain Chinese growth, even if demand gets a lift from lower oi...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013 -
Tunisian CO2 Study May Scupper Plans For Zarat Development
...om West Africa, providing a steady revenue stream despite cashflow constraints having led PA to slash capital expenditure by more than 80% for 2012. A commitment well for the company’s Makthar permit in northwest Tunisia has been pushed back to 2014 with the company granted two years’ licence ex...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Mauritania Looks To Offshore Gas To Fuel Its Energy Future
...late to whether development will be of gas alone or include oil. Tullow also expects to take a final investment decision next year with first commercial production from between two and four wells slated for 2014 or 2015. Other nearby offshore discoveries, also operated by Tullow, could potentially be ti...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Russia Consolidates Its Position In Iraq Upstream Petroleum
...rward to early 2013, with 60,000 b/d expected by mid year, and 120,000 b/d by the beginning of 2014”.15 As long as the stalemate and differences between the federal government and KRG remain (and the resolutions appears to be remote for the time being), the problem with ExxonMobil is not re...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Libyan Upstream Activity Picks Up
...ould add substantial oil and gas production increments from late 2014 (see Table 1). Eni, through its Mellitah Oil joint venture with Libya’s National Oil Corporation (NOC), plans to move two key projects to construction next year. Both are heavily reliant on existing infrastructure, making ra...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
Oil Roils Kurdish Politics
...r late 2013, but realistically this is unlikely to be completed before 2014 (MEES, 28 May). In the meantime, Turkish firms continue to consolidate their position the region. On 6 August Genel Energy announced it was boosting its 23% stake in the OMV-operated Bina Bawi block to 44%, with $240mn ac...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
Jordan’s Energy Ministry Shortlists Companies For AOT Project
...mmenting on Jordan’s long term energy strategy, Minister of Energy and Mineral Resources 'Alai al-Batayna said that among the first priorities his country will need to raise its storage capacity for crude oil and petroleum products to 100,000 tons (around 750,000 barrels) by the first half of 2014 and to mo...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
Abu Dhabi Moves Ahead With Nuclear Program
...rporation (KEPCO). ENEC’s CEO Muhammad al-Hammadi said: “These contracts will provide ENEC with long term security of supply, high quality fuel and favorable pricing and commercial terms.” Abu Dhabi is struggling to develop its gas reserves and plans to import 1.2bn cfd of LNG by 2014-15 (MEES, 26 Ma...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
Petroceltic And Sonatrach Agree To Develop 'Ain Tsila For 2017 Start-Up
...ndensate and LPG production will be around 15,000 b/d each. Development work is expected to commence in 2014 following the completion of front end engineering next year. The Irish independent plans to divest a further tranche of its 56.625% working interest in order to help fund development. So...
Volume: 55Issue: 33Published at Mon, 13 Aug 2012 -
Power Failures Hit Kuwait
...neration capacity to 16gw by 2014-15, 17-18gw by 2016 and 27-30gw by 2030. Kuwait’s power demand is growing at approximately 7-10% per year. But Kuwait is short of gas and is importing LNG. It is studying with Japanese conglomerate Toyota Tsusho the construction of a $650mn, 1.25mw integrated solar co...
Volume: 55Issue: 33Published at Mon, 13 Aug 2012 -
Algerian Gas Set For Boost From 3.7 BCM/Y Petroceltic Development
...gineering and design (FEED) is slated for 2013 with construction set to begin in 2014. Second Farm-Out Planned Petroceltic plans to sell a further stake in the project in order to fund its share of $1.5bn expected capital expenditure to first gas, a massive amount for a company whose market ca...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012 -
Kuwaiti Tanker Fleet Set For Nine-Vessel Expansion In 2014-15
...WAIT Kuwaiti Tanker Fleet Set For Nine-Vessel Expansion In 2014-15 State-owned Kuwait Oil Tanker Company (KOTC) is expecting the delivery of nine new tankers from South Korean firms by mid-2015 as part of a $1.75bn fleet expansion announced earlier this year, the company’s newly appointed ch...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012