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Kurdistan’s Baeshiqa Field Set For Q2 Startup
...crease significantly, along with considerable volumes being moved into the 2P category. The bulk of current resources, 37.8mn barrels, are within the Baeshiqa structure. BAESHIQA SUPPLEMENTS TAWKE Baeshiqa will be the first new asset that DNO has brought online in Kurdistan since Peshkabir in 2017...
Volume: 65Issue: 07Published at Fri, 18 Feb 2022 -
Iraq’s Supreme Court Rules Against KRG Oil Independence
...venues of 250,000 b/d of oil exports. For the 2018 federal budget, both parties had agreed to hand over the volume to Somo for marketing but the deal did fell through (MEES, 17 November 2017). Since then, budget laws passed by parliament had the revenues added but the KRG never fulfilled the obligation. Th...
Volume: 65Issue: 07Published at Fri, 18 Feb 2022 -
Borouge Partners Consider IPO
...noc Distribution shares began trading in 2017 (MEES, 1 December 2017), while an IPO of Adnoc Drilling was carried out last year (MEES, 10 September 2021)....
Volume: 65Issue: 07Published at Fri, 18 Feb 2022 -
Iraqi Kurdistan Gas Pipeline Boost: Turkey Exports Next?
...reement, Kurdistan was to supply Turkey with an initial 4 bcm/year from 2017, rising to 10 bcm/y by 2020 with the option of increasing to 20 bcm/y (MEES, 17 January 2014). A 2017 agreement for Rosneft to construct a pipeline with up to 30 bcm/y capacity also came to naught. Progress since then has been es...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Syria Says Oil Sector War Damages Hit $100bn As Assad Loyalists Scoop Contracts
...y asset in Kurdish-held territory is the 20,000 b/d Block 26 along the Iraqi border, which since January 2017 has been operated by Syrian state firm GPC under a revenue-sharing deal with the local Kurdish authorities (MEES, 11 June 2021). Despite GPC’s operatorship, production from Block 26 appears to...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Majors Capex Down Again To Lowest In Over A Decade, 2022 To Remain Restrained
...ropean firms’ 2021 spending was disciplined, their US counterparts’ outlay was positively anemic. ExxonMobil’s spending fell by 22% to just $16.6bn, falling below that of Shell to make 2021 the first year since 2017 that Exxon has not been the top spending major. But Exxon is also penciling in the la...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Dubai’s Coal U-Turn Simplifies UAE Energy Messaging
...pacity to handle domestic demand without Hassyan. Capacity (including the first 600MW at Hassyan) exited 2021 at 13.2GW, and rose to 13.4GW last month, while MEES estimates that peak load was around 10GW (see chart 1). REVISING 2050 TARGETS When the UAE in 2017 set out its National En...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
BP/Equinor Algeria Gas Output Rebounds In 2021
...is was still almost 300mn cfd lower than 2017’s record 815mn cfd. In Salah’s output rose 19% to 571mn cfd in 2020 – the second lowest on record after 2020’s 481mn cfd. Partners BP, Equinor and Sonatrach have struggled to halt production declines over the years, despite the completion of field tie-in...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Iran Sets New Production Targets As Owji Offers Oil To The World
...rget is a flashback to 2015 when the Joint Comprehensive Plan of Action (JCPOA) was signed and Iran sought to bring foreign firms back into the country. Back then Iran targeted 5.7mn b/d by 2017-18 (MEES, 25 September 2015), but few firms were willing to take the plunge. TECHNICAL & FINANCIAL CH...
Volume: 65Issue: 05Published at Fri, 04 Feb 2022 -
Exxon Eyes 25% 2022 Permian Growth
...ficiencies and driving technology applications… has worked very, very well, and we’re seeing the results of that.” This references a strategy first set out in 2017 (MEES, 17 February 2017) and expanded upon two years later (MEES, 15 March 2019). Exxon also stuck to its guns and doubled down on the Pe...
Volume: 65Issue: 05Published at Fri, 04 Feb 2022 -
Egypt To Seek More IMF Aid Amid Growing Budget Deficit
...se. Preliminary figures for the first half of the current 2021-22 financial year (ie for 2H 2021) show subsidies and grants spending rising to E£136bn ($8.6bn), the highest first half figure since 2017-18 and up 36% from the 1H 2020-21 figure (see table and chart 1). Whilst comparing part year ac...
Volume: 65Issue: 05Published at Fri, 04 Feb 2022 -
Egypt: BP’s Key WND Project Sees Output Collapse
...line in March 2017 via tie back to processing facilities at Idku that had been used to process gas from Shell’s offshore WDDM fields. That there was ample spare capacity was due to the faster-than-expected decline at Shell’s fields (MEES, 19 February). So perhaps BP should not have been surprised when Li...
Volume: 64Issue: 08Published at Fri, 26 Feb 2021 -
Egypt-Palestine-Qatar
...om Egypt and Qatar this week meeting in Kuwait to discuss the normalization of bilateral relations. Egypt in 2017 joined Saudi Arabia, the UAE and Bahrain in breaking off relations with Qatar. The three Gulf countries last month agreed to end the embargo and reestablish relations (MEES, 8 January). ...
Volume: 64Issue: 08Published at Fri, 26 Feb 2021 -
Egypt Downstream: ERC Boosts Output & Exports To 2020 Records Despite Covid Slump
...4,000 b/d, and overall oil demand was down 13% at 605,000 b/d, a 14-year low (see chart 3). Fuel oil fell the furthest, to just 34,000 b/d, a fifth of 2017 levels, as the country’s gas surplus (MEES, 12 February) enabled the all-but ending of the burning of fuel oil in power plants (see p15). *Last ye...
Volume: 64Issue: 08Published at Fri, 26 Feb 2021 -
Egypt Power Fuels: Gas Surplus All But Ends Oil Burn
...s been the ramp-up in gas availability driving out oil burning from Egypt’s power generation fuel mix. *Fuel oil demand fell to just 34,000 b/d for 2020, a fifth of 2017 levels, as the country’s gas surplus all-but ended the burning of the fuel in power plants (see chart 3 and p1...
Volume: 64Issue: 08Published at Fri, 26 Feb 2021 -
Lamprell: First Saudi LTA Award
...o offshore production deck modules and associated pipeline and subsea cables. The UAE firm’s primary facilities are in Hamriyah, Sharjah, but in 2017 it signed a joint venture agreement with Saudi Aramco, national shipping carrier Bahri and Hyundai Heavy Industries to establish and operate a ma...
Volume: 64Issue: 08Published at Fri, 26 Feb 2021 -
Oman Capitalizes On Opec+ Condensate Exemption With 2020 Output Surge
...rgely enabled by the BP-led development of Block 61’s Khazzan tight gas field, which reached full phase-1 capacity of 1bn cfd (10bcm) in 2018 after starting up in 2017 (MEES, 29 September 2017). Oman liquids production had been capped by Opec+ ever since Khazzan’s startup, meaning that until last year Mu...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Qatar Brokers Israel-Gaza Gas Supply Deal
...d around 30MW from Egypt, but still suffers from between eight to twelve hours of blackouts every day. The World Bank, in a 2017 report, estimates the cost of diesel-fired generation at the plant at approximately $0.30/kWh. Switching to gas-fired generation could “slash costs to $0.068/kWh,” the Wo...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Israel 2020 Gas Output, Exports At Record Levels
...gan two weeks later (MEES, 17 January 2020). Jordan has imported gas from Israel since 2017. But until the start-up of Leviathan sales had consisted solely of modest Tamar volumes of around 20mn cfd to industrial customers on the Dead Sea. The game changer was Jordan state power firm Nepco’s 20...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Iraq Struggles To Find Developers For Mansuriya Gas Field
...erating on a feedstock of diesel and heavy fuel oil. Iraq’s notorious practice of fuel switching due to gas shortages reduces efficiency and increases maintenance requirements (MEES, 12 February). In 2017, GE restored 90% of the power station’s generation capacity after large parts of the site had be...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021