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Libya Ups Drilling Efforts
...oduced at 95,000 b/d prior to Libya’s 2011 revolution. Effective capacity has been perhaps half this in recent years but leading US-based services firm SLB has been working with Eni and NOC on a campaign to re-enter long-producing wells with its latest stimulation technology. SLB last month said that th...
Volume: 67Issue: 08Published at Fri, 23 Feb 2024 -
Unlocking the East Med Energy Potential: A Vision for the Future
...scovered in 2011, appear to have hit a roadblock as the US major continues to buy for time with a 31 March deadline looming. Next door in Israel, just 30km away, Chevron is also faced with a conundrum – how to expand output at the 23tcf Leviathan field. The options in front of it appear problematic to sa...
Volume: 67Issue: 08Published at Fri, 23 Feb 2024 -
Eni Eyes ‘Best Fast-Track Development’ For Cyprus Cronos Find
...scovered more than a decade earlier in 2011, as Cyprus’ first gas development. Chevron (35%op) and its partners Shell (35%) and Israel’s NewMed (30%) have been set a deadline of 31 March to submit “optimizations” to Aphrodite’s 2019 approved field development plan (FDP) after previous modifications were re...
Volume: 67Issue: 07Published at Fri, 16 Feb 2024 -
Adnoc & BP Ink Egypt Gas JV With Israel Entry On Hold
...scovered in 2011 and mentioned by BP as a potential development option back in 2019 (MEES, 24 May 2019). $1BN+ DEAL? The companies do not say how much Adnoc will pay for just under half of BP’s share in the six assets beyond that a “proportionate cash contribution” will be earmarked “for fu...
Volume: 67Issue: 07Published at Fri, 16 Feb 2024 -
Saudi Economy Contracted In 2023 Amid Oil Price Drop
...7% contraction in 2020 during the Covid-19 pandemic - largely because in 2020 the sector was coming off a relatively weak previous year. Indeed, it is the sharpest oil-sector contraction in MEES records going back to 2011 (see chart 1). Oil prices softened considerably last year amid strong su...
Volume: 67Issue: 06Published at Fri, 09 Feb 2024