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Upper Zakum Extended, Terms Sweetened
...vember, ADNOC unveiled a plan to boost Upper Zakum production from current levels of about 585,000-590,000 b/d to 1mn b/d. Prior to the announcement, ZADCO had planned to push production to 750,000 b/d by 2017. It is unclear when the consortium expects to hit the 1mn b/d target; Inpex said in a statement th...
Volume: 57Issue: 04Published at Fri, 24 Jan 2014 -
Aramco Awards Bring Forward Shaybah 1Mn B/D Target To 2016
...vest some of its $500mn fund for technology startups in the Boston area, Mr Falih says. Aramco: Key Crude Additions (‘000 B/D Capacity) Field Now By 2017 Shaybah 750 1,...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
Kurdish Oil Heads North But Not Yet To Sea
...r substantial gas resources at Miran and Bina Bawi for the Turkish market.” The GSA concluded with Ankara in November 2013, calls for an initial 4 bcm/year of gas exports starting in 2017, rising to 10 bcm/y by 2020 and the option of increasing to 20 bcm/y thereafter, Genel says. It anticipates th...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
Socar Turkey Picks FW For Aliaga PMC
...rm AMEC has already completed front-end engineering and design (FEED) for the plant. Foster Wheeler envisages 2017 start-up for the 200,000 b/d, $4.35bn plant, which will be able to process a range of crudes including Russian Urals, Azeri Light and Iraqi Kirkuk. Socar last year awarded the pl...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
Jordan Pushes Shale And Wind In Quest For Diversity
...ocurement and construction (EPC) of the 540MW power plant for start-up in the second half of 2017. The ministry expects the plant to save JD350mn ($494mn)/year on importing of oil for power plants. Enefit says Switzerland-based Foster Wheeler will provide a circulating fluidized bed boiler island and Ge...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
Egypt: Sisi In The Wings As Arab Spring Challenges Remain Center Stage
...s able to pay back $1.5bn of its debts to IOCs late last year, with the promise to pay a further $3bn in instalment by 2017. The prospect of higher remuneration for gas produced in high-cost offshore developments has meanwhile reinvigorated interest in Egyptian acreage. Unfortunately for the fu...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
Iraq Expects West Qurna-2 Start-Up By End-February
...ft, said in a statement that a first line with capacity of 60,000 b/d would come onstream in the near future. Output is forecast to reach 170,000 b/d by 2017 and is expected to remain at this level for seven years, the company said. Any significant future increases in capacity will depend on the ti...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
IOCs Welcome New Egyptian Bid Round As Sign Of Progress
...fore Prime Minister Hazim al-Biblawi announced last month that $1.5bn of this debt would be repaid immediately, and a further $3bn would be paid in instalments by 2017. “They are trying to project the image that Egypt is a good place to invest,” said Joe Versfeld, regional exploration manager for US...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Petroceltic Focuses On North Africa As Investment And Production are Set To Slump
...r completion in 2017, “is substantially agreed and should be signed during Q1 2014,” the company said in a 7 January release. The Ain Tsila consortium – Petroceltic, Algeria’s state oil company Sonatrach and Italy’s Enel – are aiming to award the front end engineering and design (FEED) contract du...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Saudi Starts 4GW CCGT Plant, Further 30GW Planned By 2018
...2017 (MEES, 3 January). The plant will burn hydrocarbons but incorporate 20-30MW of solar capacity to reduce saturated steam production and increase fuel efficiency. SEC requested expressions of interest on 25 December for developing the Dhuba-1 IPP in the Tabuk region. The company says the pr...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Saudi Platform Sinks
...gher recovery rates of up to 70% from existing fields while adding some 550,000 b/d of new capacity from the Shaybah and Khurais fields by 2017, though overall capacity is set to remain at 12.5mn b/d as some older reservoirs are given a rest. Safaniyah, which was discovered in 1951 and entered into pr...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
MENA Power Survey - Regional Capacity Rises 4.4% to 350GW In 2013
...mpletion in 2015 (MEES, 22 February 2013). It started work on two 1.65GW CCGT plants, PP13 and PP14, due online in 2017 (MEES, 29 November 2013). It also awarded a second supercritical technology oil-fired plant, 2.64GW Shuqaiq, due online in 2017 (MEES, 16 August 2013). SEC also awarded the 2.1GW Ra...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
Egypt: Momentum Stutters On Gas Price Uncertainty
...oducers $1.5bn of the roughly $6bn they were owed at the time. Since Prime Minister Hazim al-Biblawi announced the measure, companies including the UAE’s Dana Gas have confirmed that payments have been made. Cairo plans to repay a further $3bn in instalments by 2017. It hopes to make its hydrocarbon se...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
QP Petchem Flotation
...all of Total’s operations in Congo, which among others include the Moho North Project, slated to come online in 2015, and ramp up to 140,000 b/d by 2017. Based on recent production numbers, QPI’s working interest in Total E&P Congo’s output will be around 16,000 b/d of crude, and just under 5mn cf...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
QP: What’s Next?
...d the structural changes QP itself has undergone, one option for the company is to further develop the downstream domestic market. QP will have completed its planned petrochemical base when the $6.5bn, 15mn tons/year monoethylene glycol plant (QP 80%, Shell 20%) starts up in 2017. It could build mo...
Volume: 56Issue: 04Published at Fri, 25 Jan 2013 -
SEC Profits Up 20% In 2012
...ne in 2015. SEC is also working with partners on four independent power producer (IPP) projects: 1.2gw Rabigh-1 and 1.729gw Riyadh PP11 are due on line in 2013; 4.0gw Qurayyah is scheduled for 2014; and 1.81gw Rabigh-2 is slated for completion in 2017 (MEES, 18 January). SEC’s fifth planned IPP will be...
Volume: 56Issue: 04Published at Fri, 25 Jan 2013 -
Where The Sun Shines
...els for power generation and an expected 26% demand increase by 2017 will reverse the trend. Political determination is required to fully tap into the region’s abundant solar resources. Under IHS’s moderate growth scenario, current political unrest and lack of policy will result in 23gw of added PV ca...
Volume: 56Issue: 04Published at Fri, 25 Jan 2013 -
Qatar Changes PSAs to JVs, Invests In Al-Shaheen
...incorporated JVs where they invest in the venture directly.) Maersk expects to sign a JV heads of agreement with QP next year, in preparation for Maersk’s PSA expiry in 2017. US independent Occidental Petroleum (Oxy) is studying offshore Idd al-Shargi’s North Dome (97,000 b/d) and South Dome (8,...
Volume: 56Issue: 03Published at Fri, 18 Jan 2013 -
French President Promotes Total On UAE Visit
...vitation to prequalify to bid for the concession of Abu Dhabi Company for Onshore Oil Operations (ADCO) consortium – ADNOC 60%, BP 9.5%, ExxonMobil 9.5%, Total 9.5%, Shell 9.5% and Partex 2%. Its target is 1.8mn b/d of crude production capacity by 2017. ADCO’s concession expires on 11 January 2014. After th...
Volume: 56Issue: 03Published at Fri, 18 Jan 2013 -
Oman Moves Forward With 200Mn Barrel Storage Hub
...e hub began last year and are now nearing completion, OTTCO project director Martijn Notten said, adding that work on the front end engineering and design (FEED) would begin only once contracts are agreed with the ministry. The terminal is set to be operational by 2017....
Volume: 56Issue: 03Published at Fri, 18 Jan 2013