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Tunisia & Libya Offer Up Border Discovery & Exploration Block In Bidding
...llowed up with a second successful well, Zarat-2, whilst 2011’s Zarat North-1 confirmed the extension of Zarat onto the Joint Oil block (MEES, 9 April 2012). The wells demonstrated a condensate-to-gas ratio of 85 barrels per million cubic feet of gas with medium case (2C) recoverable reserves pegged at...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023 -
Israel Throws Spanner In Aphrodite Development
...Cyprus’ 2011 Aphrodite discovery had finally seemed to be moving forward with a development plan agreed with Nicosia in June (MEES, 7 June), but neighboring Israel says ‘not so fast’. A small portion of 4tcf Aphrodite is thought to extend into Israel’s Yishai license (see map below). Udu Ad...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Kuwait: Politics Is Back
...The events of November 2011 continue to overshadow politics in Kuwait to this day. Hundreds of protestors stormed the National Assembly building on 16 November 2011 over alleged corruption among parliamentarians. These events forced the resignation of prime minister Nasser al-Muhammad al-Sa...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Libya’s Oil Storage Woes
...tput. Elsewhere, any export terminal shut-in would lead storage tanks to drink up crude to ship another day. But not in Libya. Years of fighting since the 2011 revolution have left storage infrastructure crippled (MEES, 7 September). NOC chief Mustafa Sanalla said ahead of this week’s Opec meeting th...
Volume: 61Issue: 49Published at Fri, 07 Dec 2018 -
KRG: IOCs Nervously Eye Calendar As Payment Wait Drags On
...ntested territory that Exxon was controversially awarded in 2011 (MEES, 21 November 2011). A Turkish military base also lies at Baeshiqa, further complicating the area’s status. The KRG currently gets another 110,000 b/d from the Khurmala dome of the Kirkuk field, and about 110,000 b/d from its other pr...
Volume: 60Issue: 50Published at Fri, 15 Dec 2017 -
Should I Stay Or Should I Go? Majors In The KRG
...mpleted in 2015. EXXONMOBIL • The US major has recently reduced its KRG exposure. • Controversially awarded six blocks in 2011, complicating the US firm’s relationship with Baghdad (it operates the key southern West Qurna-1 field). Two of the blocks, Al-Qosh and Baeshiqa in di...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
Egypt Secures Funding For Further IOC Payments
...vember). Egypt first reduced a debt pile that had been growing steadily since the 2011 revolution with a $1.5bn tranche last December, and repaid a further $1.5bn in October. Throughout 2014, the government has also been able to promptly pay producers for current output, according to Petroleum Minister Sh...
Volume: 57Issue: 49Published at Fri, 05 Dec 2014 -
Weatherford Hit By MENA Corruption Rap As Region Ranks Poorly
...change Commission (SEC) to settle corruption charges linked to a string of incidents in the Middle East and Africa. The firm “between at least 2002 and July 2011” routinely secured business through bribes and lavish corporate hospitality, according to evidence catalogued by the SEC in a 25-page do...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
SABIC Strategy Tracks Demographic Trends
...e US. Industrial Cities The petrochemicals giant is also looking to expand downstream. In March 2011 SABIC and the Saudi Industrial Property Authority (MODON) signed an agreement with Boston Consulting Group (BCG) to develop industrialization strategies for the Saudi cities of Al-Jo...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Eni Rocked By Algeria Corruption Probe
...June 2011). The Iraqi part of the investigations relates to Eni’s contract to spend $18bn raising production at the giant Zubair field from the current 270,000 b/d to 1.2mn b/d by 2017 (though there is likely to be some slippage on both volumes and date). Eni has maintained a code of si...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012