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IOCs Bullish On Libyan Outlook As Security Situation Improves
...rst post-revolution licensing round, awarding five of 20 oil and gas exploration and development blocks (MEES, 13 February). The licensing round success is the latest indicator that Libya's oil sector is getting back on its feet after years of disruption following the 2011 revolution. IOCs that re...
Volume: 69Issue: 09Published at Fri, 27 Feb 2026 -
TotalEnergies MENA Portfolio: Building On Growth
...fshore exploration alongside QatarEnergies (see p6). The two are already partners in neighboring Lebanon’s offshore, while TotalEnergies was a major player in Syria prior to the outbreak of civil war in 2011; its net-Syrian output that year was a sizeable 53,000 boe/d of primarily gas (218mn cfd) al...
Volume: 69Issue: 07Published at Fri, 13 Feb 2026 -
Dana Gas Snags Improved Egypt Fiscal Terms
...22, some 40% down on peak output of 42,500 boe/d hit in 2011 (see chart). With falling Egypt output, Dana’s key area of production is now Iraqi Kurdistan (see p13). Dana says the slump would have been more severe in line with what it says are typical 20% Nile Delta decline rates had it not been fo...
Volume: 66Issue: 06Published at Fri, 10 Feb 2023 -
Libya’s Noc Eyes Algeria Border Fields Potential
...tential for tie-ins to Eni’s Wafa field. Though said to be promising, no discoveries have been made on these blocks to date. BP was on the cusp of drilling in 2011 but that year’s bloody revolution saw the UK-major pack its bags. It remains far from clear whether Eni still holds the same appetite for th...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Shell & Petronas At Odds Over Egypt Expansion
...indled from 1.2bn cfd in 2012 to around 500mn cfd now. The WDDM slump is the result of a combination of high underlying decline rates, underperforming wells and slashed investment amid soaring receivables in the years following Egypt’s 2011 revolution (MEES, 7 February, 2014). Shell in early 2018 dr...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
KRG: DNO Buys Out Exxon At Baeshiqa, Eyes Development
...ce its exit from the block is finalized, it will be left with just the Pirmam block where it confirms that it still retains its 80% operating stake. The US supermajor initially signed up to six blocks, including Baeshiqa, in a controversial 2011 deal. Not only did Baghdad oppose the signing of ag...
Volume: 64Issue: 06Published at Fri, 12 Feb 2021 -
Total’s Upstream Operations Enjoy Strong 2019
...conventional concession, and Adnoc says “the first gas from unconventional [reserves] in Abu Dhabi, [will enter] into the market in mid-2020.” While initial volumes will be modest, Adnoc targets 1bn cfd by 2030 (MEES, 15 November 2011). MENA LIQUIDS OUTPUT HAD RECORD 2019 BUT OVERTAKEN BY AFRICA AS #1 TO...
Volume: 63Issue: 06Published at Fri, 07 Feb 2020 -
Upstream Investment: Is ‘More For Less’ The New Normal?
...E HIGHEST SINCE 2016 3: SAUDI ARABIA RIG COUNT: JANUARY’S OFFSHORE TOTAL OF 25 IS UP 7 YEAR-ON-YEAR AND JUST ONE OFF THE ALL-TIME HIGH SET IN APRIL 2015 4: MIDDLE EAST RIG COUNT SOARED IN 2011-14 WITH $100/B-PLUS CRUDE AND HAS CONTINUED TO EDGE HIGHER SINCE SO...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
Eni Cyprus Discovery: ‘Good-Good-Good, Or Just Good’?
...Eni’s Calypso Cyprus discovery could be bigger than Zohr. Complex geology means more drilling is needed. But CEO Claudio Descalzi says at a minimum the field will be a Zohr tie-in, with a stand-alone Cyprus LNG project a real possibility. This would also boost development prospects for the 2011...
Volume: 61Issue: 07Published at Fri, 16 Feb 2018 -
Sabic Profits Boost From Rising Oil Prices As Horizons Expand With Clariant Buy
...ofits to the company’s “successful implementation of its transformation program.” The 28.5% increase in crude prices (to $52.68/B for 2017 for Saudi Arab Light) is a more obvious explanation (see chart). Sabic’s net profit remains well down on the 2011 peak of SR29bn, when Arab Light crude oil av...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
NOC Charm Offensive To Encourage Resumption Of Investment
...bruary, reach 1mn b/d in April, 1.1mn b/d in June and 1.2mn b/d by August, says Mr Sanalla. The NOC chairman’s London presentation was part of a wider charm offensive to attract renewed investment to an oil territory where some IOCs have not operated since early 2011 and others abandoned work after a br...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Glencore Extends Libya Crude Purchase Deal
...). The Tripoli government is carrying out the most wide-ranging investigation into corruption in the oil sector since 2011, said Attorney General Sadia Al Sour on 26 January. Investigations into smuggling of crude products to Malta, Cyprus and Greece are under particular scrutiny, he said. Tripoli NO...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
OMV Expands in Libya With Purchase Of Oxy Zueitina Stake
...CIDENTAL BLOCKS OXY DIVESTMENT STRATEGY Oxy’s Libya sell-off was long expected. In theory it still has extensive exploration interests in Libya (see map). When civil war broke out in early 2011 it had been on the verge of kicking off a 22-well exploration campaign. As recently as July 2012 the co...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
SEC Seeks $3.3bn More Funding, Bringing Total To $73bn
...kuk Capital projects 1.9 2010: July Aramco/Total Banks/ECAs Satorp project 8.5 2011: October Aramco/Total Su...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
Dana Looks To Egypt Uptick In 2016
...this output is gas: some 163mn cfd for 2015, around 50mn cfd down on record 2011 output of 213mn cfd. But countering the 2015 fall in output is the potential long term gains from the hike to the company’s Egyptian reserves following “successful Balsam-2 and 3 wells [which] added 165 billion cu...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Gulf Keystone ‘For Sale’ Amid Kurdish Cash-Flow Woes
...LLIONS IN DEBT PILING UP DNO’s Executive Director Bijan Mossavar-Rahmani said in December at a London conference that the Norwegian independent alone was owed more than $1bn by the KRG while debts to Dana Gas, part of the Pearl Consortium developing the Khor Mor gas field, which began producing in 2011...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Egypt Eyes Listing State Firms, Seeks Outside Investment
...centives for would-be investors. Also Egypt is amending and redrafting a number of economic laws to attract fresh investments and revive its economy battered by political turmoil since early 2011. The announcement this week that Egypt had signed memorandums of understanding (MOUs) with Kuwaiti companies fo...
Volume: 58Issue: 08Published at Fri, 20 Feb 2015 -
Mauritania Exploration: One Step Forward, Two Steps Back
...negal – a likely “commercial discovery” according to Cairn CEO Simon Thornton. PETRONAS TO QUIT? Mauritania currently only has one producing field, Chinguetti, where output has declined precipitously from 75,000 b/d at February 2006 start-up to 7,400 b/d for 2011, 5,800 b/d for 2012, and 5,400 b/d fo...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Petrofac Bags $1.2Bn Oman Gas Deal
...12 BCM % 2011 2010 Industry 22.59 21.72 +0.87 4.0 20.17 19.64 Po...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Oman Needs To Sell Assets Or Borrow
...e years since then. Last August the IMF also pointed out that Oman’s recent spending initiatives, including job creation in 2011-13, have increased expenditure by some 70%, and reduced the country’s ability to respond to shocks. “A sustained fall in oil prices could exhaust available buffers and ne...
Volume: 57Issue: 08Published at Fri, 21 Feb 2014