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Kuwait Upstream Capacity Tops 3mn B/d
...nagement between Saudi Arabia and Kuwait (MEES, 24 October 2014). For Kuwait to generate 350,000 b/d capacity from the PNZ by 2035, gross capacity will have to rise to a record 700,000 b/d. Appraisal work to potentially unlock new reserves at both Khafji and Wafra has been carried out to enable this. As...
Volume: 68Issue: 05Published at Fri, 31 Jan 2025 -
Eni/Kogas Quit Cyprus Blocks As Development Plans Awaited
...years. Eni, which originally had 80% stakes, drilled two dry wells on Block 9 (Onasagoras 2014, Amathusa 2015). But plans for an initial Block 3 well in February 2018 were scuttled as Turkish warships obstructed drilling (MEES, 16 February 2018). French major TotalEnergies farmed-in to the ac...
Volume: 68Issue: 03Published at Fri, 17 Jan 2025 -
Libya’s ‘Road To 2mn b/d’ Faces Infrastructure Logjam
...Total’s 30,000 b/d Mabruk field which has been offline since being overrun by Islamic State-affiliated militants in 2014 (MEES, 6 March 2015). Though the previous 2023 restart target has been missed (MEES, 31 March 2023), Total’s Pouget listed restart here as a near-term aim. NOC LEADS NEW DE...
Volume: 67Issue: 03Published at Fri, 19 Jan 2024 -
Egypt Launches Bidding: Search For ‘More Zohr’, But More Tie-Ins More Likely
...ye-1 duster in mid-2021 (MEES, 18 March 2022). Tiba also surrounds two Shell (60%op, BP 40%) development leases that encompass the 2012 Harmattan and 2014 Notus discoveries. Hossam Zaki, head of BP’s Pharaonic Petroleum JV with state oil firm EGPC, told oil minister Tarek El Molla in September that sa...
Volume: 66Issue: 01Published at Fri, 06 Jan 2023 -
‘If You Want Gas, We Have The Supply’, Algeria’s Sonatrach Tells MEES
...2021 for the highest level since 2014. Echoing calls from the likes of Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman and UAE Energy Minister Suhail al-Mazrouei, Mr Hakkar sees a clear role for oil and gas in the energy transition and has made it clear that investments in the hy...
Volume: 66Issue: 01Published at Fri, 06 Jan 2023 -
Neutral Zone Exports Jump To Highest Level Since 2020 Output Restart
...erated by Khafji Joint Operations (KJO) which is a 50:50 venture between Kuwait’s state owned KGOC and Saudi Arabia’s state owned AGOC. KJO halted operations in late 2014 (MEES, 24 October 2014) before restarting in February 2020. Meanwhile the onshore operations are conducted by the 50:50 Wafra Joint Op...
Volume: 65Issue: 02Published at Fri, 14 Jan 2022 -
Baker Hughes Finally Inks Gas Processing Contract in Southern Iraq
...Oil, amounting to a huge 51.3% of wellhead output (see chart). Yet for Iraq, these poor figures count as something of a success. Total gas flared last year was the lowest since 2014, while the proportion flared is similar to that of 2010. Since then, crude output grew rapidly following contract aw...
Volume: 64Issue: 04Published at Fri, 29 Jan 2021 -
Kurdistan Oil At Center Of Iraq Budget Disputes
...tlines a mechanism for KRG debt repayment by the federal government whereby Erbil is expected to share data on its external debts and loans accumulated in 2014-2019 with the Ministry of Finance 30 days upon approving the budget by parliament. Ninety days later, a joint committee that includes Iraq’s state au...
Volume: 64Issue: 03Published at Fri, 22 Jan 2021 -
Saudi Crude Exports To Take Fresh Hit Amid Voluntary Cuts
...fining runs at the height of lockdown. Jodi data up to October shows Saudi refining runs averaging 2.14mn b/d over the first ten months of the year, putting throughputs on course for their lowest year since 2014. Nevertheless, refining runs had recovered to pre-Covid levels by the end of 2020 and so th...
Volume: 64Issue: 02Published at Fri, 15 Jan 2021 -
The US Oil Rig Count’s 2020 Rollercoaster Ride
...FROM 670 AT THE START OF 2020 THE US RIG COUNT SLUMPED TO 172 BY MID AUGUST BUT HAS SINCE ADDED 103 RIGS, 60% OF THESE IN THE PERMIAN... ...DESPITE THIS, THE US END-YEAR OIL RIG COUNT FOR 2020 WAS THE LOWEST IN 14 YEARS AND LESS THAN A FIFTH OF THE 2014 PEAK SOURCE: BA...
Volume: 64Issue: 02Published at Fri, 15 Jan 2021 -
Exxon’s Star Shines Brightest Among Egypt’s Slew Of Mediterranean Awards
...ild-up immediately lying below the Messinian Salt.” BETTER TERMS One reason Shell’s earlier modest discoveries were deemed uneconomic was that at the time Cairo was only willing to pay a fixed $2.65/mn BTU for domestic output. By 2014, and with investment from IOCs drying up, Eg...
Volume: 64Issue: 01Published at Fri, 08 Jan 2021 -
Iraq Breaks From The Past In Fifth Bid Round
...mama formation (38-40° API) – a deeper structure key to Baghdad’s longer-term light oil aspirations. Reserves have been estimated much higher than Huwaiza at 7bn barrels of oil in place (MEES, 17 October 2014). If revenue-sharing terms are any indication of prospective value, these two oil plays we...
Volume: 63Issue: 05Published at Fri, 31 Jan 2020 -
Oman: Blocks 3 & 4 Finish 2019 In Style
...w the partners were not overproducing. Official Omani figures showed the sultanate broadly compliant each month, implying falls elsewhere. The CCED-operated assets have performed strongly in recent years, nearly doubling from 25,000 b/d in 2014. They now account for a sizeable chunk of Oman’s 97...
Volume: 63Issue: 04Published at Fri, 24 Jan 2020 -
Adnoc CEO Confident On 2020 Vision
...0,000 b/d of spare capacity, and if the Opec+ deal is extended to the end of the year at current levels, this could exit 2020 at 1mn b/d – a whopping 25% of total capacity. Opec’s leadership frequently bemoans the lack of industry investment since the 2014 oil-price downturn, warning that this could yet le...
Volume: 63Issue: 03Published at Fri, 17 Jan 2020 -
2019 Sees Middle East Drilling Records
...e key faller in the GCC was Kuwait where political holdups have stymied attempts to advance upstream projects (see p20 and MEES, 20 December 2019). Kuwait’s rig count fell by five to an average of 46 for 2019, with oil rigs falling to 34, the lowest since 2014 and gas rigs down to 11, a three-year lo...
Volume: 63Issue: 03Published at Fri, 17 Jan 2020 -
Kuwait Parliament Debates Neutral Zone Deal
...ES, 21 July 2008) – offshore output halted in October 2014, with the onshore portion following suit in May 2015 (MEES, 15 May 2015). The most likely outcome is that SAC will relocate its offices to the town of Khafji around 40km down the coast in the Saudi half of the PNZ. This is where offshore vo...
Volume: 63Issue: 02Published at Fri, 10 Jan 2020 -
Neutral Zone Set For 2020 Rebound After Saudi-Kuwait Agreement
...More than five years since the first shut-in at the Partitioned Neutral Zone (PNZ: MEES, 24 October 2014), Saudi Arabia and Kuwait have reached an agreement on resuming production. The partners have ambitious plans to boost output to over 500,000 b/d by end-2020. Kuwait Foreign Minister Sh...
Volume: 63Issue: 01Published at Fri, 03 Jan 2020 -
Iraq Books Record Exports In 2019, Plans To Advance Jordan Pipeline In 2020
...,000 b/d year-on-year. 2019 was also notable for being the first full year since 2013 of ‘federal’ exports from northern Iraq via the KRG’s export pipeline to Ceyhan, Turkey. Pipeline damage and disputes allowed for inconsistent northern exports from 2014 to 2018. But the volumes, in line with the 2018 Ba...
Volume: 63Issue: 01Published at Fri, 03 Jan 2020 -
Libya: Output At Seven-Year High; Can It Last?
...velopment in the country’s southwest (MEES, 20 September 2019), and started work in July. Russian firm Tatneft also returned to Libya in December to carry out seismic it was forced to abandon in 2014 (MEES, 13 December 2019). And perhaps most importantly, NOC received a major boost in December having re...
Volume: 63Issue: 01Published at Fri, 03 Jan 2020 -
Genel Farm-In Boosts Development Prospects At Chevron KRG Blocks
...uple of months before the first well was spudded. Sarta-1 tested at 1,000 b/d of heavy crude from the Jurassic reservoir. A second promising well, Sarta-2 was spudded in July 2013, but it was not enough to keep OMV onboard as the firm relinquished in early 2014 (MEES, 28 February 2014). Chevron was fo...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019