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Saudi Unconventional Plans Come At A Princely Price
...the Hawiyah gas plant expansion, which is slated to add 1bn cfd processing capacity by June 2021 (MEES, 15 December 2017). Tanajib is then set to come online in 2023, bringing Saudi gas processing capacity up to 21.6bn cfd. Jafurah is then slated to start-up the following year, but there is no in...
Volume: 63Issue: 09Published at Fri, 28 Feb 2020 -
Repsol Mena Pullback
...ggane development in Algeria’s remote southwest was one of Repsol’s key development projects for 15 years between initial 2002 drilling and eventual start-up in late 2017 (MEES, 22 December 2017). And for this, Algeria’s tight financial terms meant the project netted Repsol just 8,200 boe/d (around 46mn cf...
Volume: 63Issue: 09Published at Fri, 28 Feb 2020 -
Aramco Plans Ras Tanura Shutdown
...edstock processing is carried out in a 325,000 b/d crude distillation unit and a 225,000 b/d condensate splitter. The CFP contract, awarded to Spain’s Tecnicas Reunidas in early 2017, adds three main upgrading units – a 138,000 b/d naphtha hydrotreater, a 90,000 b/d continuous catalyst reformer (CCR) an...
Volume: 63Issue: 09Published at Fri, 28 Feb 2020 -
MEES Interview With EBRD ‘Semed’ Managing Director Heike Harmgart– Edited Highlights
...arted in 2012 – the number of projects, the value of these investments, and also the addition of new countries into the EBRD family, last year Lebanon, and the West Bank and Gaza before that. We have also seen Egypt investment grow substantially in 2017 and 2018. And there will be more countries coming. We...
Volume: 63Issue: 09Published at Fri, 28 Feb 2020 -
Egypt’s Wind Power Capacity Nears 1.4GW, But Expansion Slow
...r electricity. However Abu Dhabi based renewables agency Irena said the lowest worldwide wind bids for 2017 were around US¢4.50/kWh. EETC subsequently awarded a BOO contract for the 250MW West Bakr Wind project near Ras Gharib to Netherlands-based Lekela Power. Lekela did not reveal its el...
Volume: 63Issue: 09Published at Fri, 28 Feb 2020 -
Oman Oil & Gas Revenues Flatline in 2019
...roughputs. On the refining front, the completion of the Sohar refinery project in late 2017, enabled Muscat to increase key products (diesel, jet-kero, gasoline, LPG) output from 170,000 b/d to over 220,000 b/d (MEES, 26 January 2018). This, combined with slowing growth in domestic consumption, saw key pr...
Volume: 63Issue: 09Published at Fri, 28 Feb 2020 -
KRG: Oryx Downgrade
...etaceous reservoirs.” Still, despite the reserves downgrade, 2019 saw Oryx’s most positive year yet in Kurdistan. Hawler is currently producing a record 14,500 b/d, having seemingly put previous geological woes behind it. Output stood at just 3,000 b/d in 2017, grew to 10,000 b/d by end 2018 (MEES, 15 Ma...
Volume: 63Issue: 09Published at Fri, 28 Feb 2020 -
Oman’s Upstream Gets Key Gas & Offshore Boost
...scalzi says the target is “most likely gas or gas/condensate” (MEES, 15 November 2019). The firm is proud of kicking off drilling only seven months after the acquisition closed, though it was provisionally awarded the block in 2017 (MEES, 15 September 2017). Eni has 55% of Block 52, Qatar state firm QP...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Saudi Energy Minister Makes Gas Export Pledge
...e task to transition towards becoming a gas exporter is no easy one. Indeed, prior to the June 2017 Qatar embargo, Saudi Arabia had been in talks with its gas rich neighbor to begin imports (MEES, 8 December 2017). Sales gas output was a record 8.9bn cfd in 2018, from raw gas output of around 12...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Shell Egypt: Mixed Signals
...ssible sale of its Egypt portfolio. WDDM: DEEP SLUMP, MODEST REBOUND WDDM output bottomed out at 151mn cfd in 2017 following years of under-investment, increasing to 223mn cfd in 2018, although still a far cry from the roughly 800mn cfd it was producing at the start of last decade. The fields ar...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
US Surges Past Saudi As World’s Top Oil Exporter
...reducing demand: down 10% from its 2017 peak to average 550,000 b/d for 2019. Fuel oil dynamics on the other hand have been trending in the opposite direction, and the kingdom became a net importer of the fuel in 2019 for the first time since Jodi stats began in 2002. After recording net-ex...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Egypt’s Asorc Awards Assiut Hydrocracker
...kely optimistic given the preliminary nature of the latest contact. Asorc is one of a number of Egyptian refiners planning to improve Egypt’s refining sector. After processing an average 76,300 b/d of crude in financial year 2017-18, Asorc has announced plans for 4.1mn t/y (82,300 b/d) throughput in...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Kuwait LNG Imports Rise In 2019
...18, this would still fall shy of 2017’s record 3.5mn tons. Nearly 60% of Kuwait’s power capacity comprises from gas-fired plants, and upgrades here in recent years have enabled more efficient generation. As such Kuwait generated record amounts of electricity in 2019 (MEES, 14 February), despite ga...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Aramco Trading Signs Kuwait Crude Deal
...Saudi Aramco’s trading arm, Aramco Trading (ATC) is rapidly stepping up its activities. Overall liquids traded in 2017 totaled just 1.40mn b/d, jumped to 2.17mn b/d in 2018 and 4.5mn b/d in 1Q 2019. The firm aims to reach 6mn b/d by the end of this year (MEES, 19 July 2019). It appears to ha...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Egyptian Firms Win Nuclear Work
...ich Egypt will begin repaying the loan (MEES, 15 December 2017). ...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Algeria’s 3.5BCM/Y Ain Tsila ‘Ahead Of Schedule’
...in line with the September 2022 timeframe outlined when Petrofac was last March awarded the key $1bn EPC contract (MEES, 15 March 2019); given Algeria’s record of chronic delays sticking to this latest target no doubt feels like a victory. The project had originally been slated for 2017 start-up (ME...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Stars Align As Exxon Hikes Egypt Commitment
...epwater discoveries” in 2019 – and the only one outside Guyana. The Star Block covers an area that up to 2017 belonged to UK major BP, through its North Tennin block and Italian firm Eni through its Karawan concession (MEES, 24 March 2017). Prior to this the acreage was part of Shell’s giant Nemed Bl...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Algeria Presents Ambitious 2020 Energy Action Plan
...tober 2017). Instead, Algeria would be better served by concentrating on getting its existing conventional oil and gas projects off the ground. On the refining front, the action plan calls for an increase in refining capacity to 35mn t/y by 2024 and boosting products storage capacity from 12 to 30 da...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Total: Oxy Algeria Talks
...rchasing the stakes, France’s ‘national champion’ would become Algeria’s top foreign producer – a potentially testing prospect for Algeria, which gained its independence from France following a bloody civil war in 1962. Total already has 12.25% of the blocks in question (404a and 208) from its 2017 pu...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Dana Eyes Egypt Cash For Bond Repayment
...tions, but these are all in early stages,” the firm says, adding that its end-2019 cash reserves of $425mn are in excess of the $397mn owed. Dana was engaged in a protracted legal dispute with its bondholders over its previous $700mn Sukuk in 2017, though its creditors ultimately accepted the re...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020