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IOCs Bullish On Libyan Outlook As Security Situation Improves
...ergy Services Reunited (NESR), which has provided oilfield services in the Middle East and Asia Pacific regions since 2017, and SLB which is partnering with Arkenu. “North Africa remains a key growth pillar, led by a surge of activity in Libya,” NESR CEO Sherif Foda said in his firm’s Q4 earnings ca...
Volume: 69Issue: 09Published at Fri, 27 Feb 2026 -
TotalEnergies MENA Portfolio: Building On Growth
...rgest IOC in the region in 2017 (MEES, 23 March 2018) and has consolidated its position in the years since. If anything, TotalEnergies is more committed than ever to this plan going forward; “I have one dream, which is to put TotalEnergies in each country of the Middle East,” CEO Patrick Pouyanné told th...
Volume: 69Issue: 07Published at Fri, 13 Feb 2026 -
Kuwait’s Upstream Foreign Investment Drive Begins
...indication as to where the focus of any exploration would be. Total has previously looked at investing in Kuwait, with then-oil minister Isam al-Marzuq saying in 2017 that the French IOC and Russia’s Lukoil were to be awarded ETSAs for heavy oil development (MEES, 2 June 2017). Those plans ul...
Volume: 69Issue: 06Published at Fri, 06 Feb 2026 -
QatarEnergy Crowns LNG Conference With Two Major Supply Deals
...ES, 7 July 2017). When FID was finally taken on the $29bn NFE in 2021, first gas was targeted for 4Q 2025 (MEES, 12 February 2021). But LNG projects are notoriously complex and prone to delays, and NFE has been no exception, with the startup of the first train pushed back. The latest guidance of...
Volume: 69Issue: 06Published at Fri, 06 Feb 2026 -
Israel’s Leviathan: Chevron Advances Plans To Near-Double Capacity To 23 Bcm/y
...al that saw Leviathan development kickstarted (MEES, 8 December 2017). Beyond Chevron, London-listed Greek firm Energean is the only other operator in Israeli waters. Its 600mn cfd Karish is banned from exporting and Energean was able to secure a foothold in the domestic market by under-cutting Ta...
Volume: 68Issue: 09Published at Fri, 28 Feb 2025 -
Oxy: UAE Gas Boosts ‘International’ Prospects
...osted the firm’s global output by 4% and that of gas by 12%, in both cases the highest level since 2020. The firm has slimmed down its international portfolio, ditching positions in Bahrain, Yemen and Libya (MEES, 12 August 2016 & MEES, 10 February 2017) and focusing its slimmed-down international fo...
Volume: 68Issue: 09Published at Fri, 28 Feb 2025 -
Cairo Aims To Arrest Gas Output Decline But 2025 Gains Look Unlikely
...cember, there was no sign of a turnaround, with production of 4.421bn cfd the lowest since early 2017. This takes output back to levels last seen before the March 2017 start-up of BP’s $9bn West Nile Delta project. As with many projects offshore Egypt, WND saw rapid decline with the ‘WND Phase 3’ Ra...
Volume: 68Issue: 08Published at Fri, 21 Feb 2025 -
Egypt’s Output Collapse: Gas Down 16% To Below 5bn Cfd For 2024, Oil At 45-Year Low
...nce the start up of WND in early 2017, whilst December’s Med figure of 3.169bn cfd was the lowest since Zohr began to ramp up output the following year. *BP’s Raven field, which accounts for almost all of current WND output, is also the country’s largest condensate producer. As such, sl...
Volume: 68Issue: 08Published at Fri, 21 Feb 2025 -
Egypt Gas Demand Edges Up As Record Israel Supplies Make Up For Output Slump
...4,000 b/d in August before easing to end the year at 63,000 b/d for December (see chart 4). On an annual basis, 2024’s fuel oil consumption of 116,000 b/d was level with 2022 as the highest since 2017. *Whilst fuel oil provided a short-term fix, longer term Cairo sees expanding renewables capacity as...
Volume: 68Issue: 08Published at Fri, 21 Feb 2025 -
Egypt: BP Plans Fast-Track El King Development
...2002 by US firm Apache, a BP spokesperson tells MEES. Whilst Apache subsequently walked away, the prospects of commercial development have since been boosted by BP’s nearby West Nile Delta (WND) development, which started up in 2017. The nearest infrastructure at the Giza field is just 20km ea...
Volume: 68Issue: 07Published at Fri, 14 Feb 2025 -
Cheiron Taps Funds For 100mn cfd Egypt Development
...th first gas potentially as early as June, although slippage to H2 is possible, a source at Egypt’s oil ministry says. Engie (formerly Gaz de France), which discovered the field in 2008 (MEES, 9 June 2008), went as far as filing a development plan before selling up to Cheiron in 2017. Ch...
Volume: 68Issue: 07Published at Fri, 14 Feb 2025 -
Qatar Records Fourth Consecutive Budget Surplus For 2024
...20 AND THE LARGEST SINCE 2017 ($BN) *APRIL-MARCH FINANCIAL YEAR UNTIL 2016. SOURCE: MOF, MEES. 2: STATE SPENDING ON PUBLIC SECTOR SALARIES IN QATAR SURPASSED CAPEX FOR THE FIRST TIME IN 2024 ($BN) Graph *APRIL-MARCH FINANCIAL YEAR UNTIL 2016. SOURCE: MOF, MEES....
Volume: 68Issue: 06Published at Fri, 07 Feb 2025 -
Egypt Upstream Output Set To Fall Further In 2024 As Zohr Slump Continues
...LNG exports (MEES, 5 January). Production plumbed a new 6-year monthly low of 5.24bn cfd for December, the lowest figure since the start-up of the country’s workhorse Zohr field in December 2017 (see p4). And it will only likely get worse in 2024. Eni-operated 21.5tcf Zohr, which contributed 36...
Volume: 67Issue: 08Published at Fri, 23 Feb 2024 -
Egypt Gas Crunch To Intensify Even Amid Record Israel Imports
...vember 2017, the month before the start-up of the country’s giant Zohr field (MEES, 15 December 2017). Output has fallen further to around 5.0bn cfd currently, MEES understands. Ominously for Cairo, LNG exports have remained threadbare in recent months despite the record receipt of Israeli gas. Egypt wa...
Volume: 67Issue: 08Published at Fri, 23 Feb 2024 -
Qatar Breaks Ground At $6bn Petrochemical Complex
...pacity in 2017, the facility’s scale has twice been revised up, to 1.9mn t/y in 2019 and subsequently to 2.08mn t/y. The new complex is slated for late-2026 start up when it will lift Qatar’s total petrochemicals capacity to 14mn t/y (MEES, 13 January 2023). The laying of the foundation stone ma...
Volume: 67Issue: 08Published at Fri, 23 Feb 2024 -
Eni Eyes ‘Best Fast-Track Development’ For Cyprus Cronos Find
...tal Cyprus blocks are due to expire in 2025, with Nicosia expected to agree to renewals despite several of the blocks not having been drilled since being awarded as far back as 2017. 2026 may also see Eni and Total revisit the Cuttlefish prospect on Block 3 where Turkish warships prevented dr...
Volume: 67Issue: 07Published at Fri, 16 Feb 2024 -
Sudan-Iran Diplomatic Thaw Raises Stakes In Battle For Red Sea Influence
...men (MEES, 20 January 2017). Iran and Sudan committed to reopening their respective embassies in the other’s capitals amid the “opening of a new chapter” between Tehran and Khartoum, according to an Iranian official statement. TIPPING THE SCALE Ç The diplomatic br...
Volume: 67Issue: 07Published at Fri, 16 Feb 2024 -
Oman’s Key Fields Hit By 2023 Output Constraints
...p created by ‘voluntary’ Opec+ cuts (MEES, 7 April 2023). KHAZZAN’S FIRST SLIP Oman’s gas output capacity gains of recent years began with the 2017 start-up of the massive Khazzan tight gas field on Block 61 (BP 40%op, OQ 30%, PTTEP 20%, Petronas 10%: MEES, 7 July 2023). But for th...
Volume: 67Issue: 07Published at Fri, 16 Feb 2024 -
Oman’s Long-Awaited 230,000 b/d Duqm Refinery Gets A Right Royal Reception
...y to inaugurate the Middle East’s newest refinery. The ceremony caps nearly twenty years of planning and work on the refinery (MEES, 4 December 2006), with start-up repeatedly delayed from its original 2012 plan (MEES, 12 October 2012). Kuwait joined the $9bn project in 2017 with the signing of...
Volume: 67Issue: 06Published at Fri, 09 Feb 2024 -
Qatar Awards $6bn Contracts In Bid To Restore Al Shaheen Oil Capacity
...e blockade instituted against it in 2017 (MEES, 7 December 2018). Since then, Qatar has pursued an independent crude output policy. Back in 2020 when Opec+ producers made deep cuts Qatar continued supplying the market with its medium-sour crude, capitalizing on the price boost of Opec+ cuts wi...
Volume: 67Issue: 04Published at Fri, 02 Feb 2024