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Cronos To Bolster Egypt’s Gas Hub Ambitions
...forts to change Damietta’s configuration to increase flexibility have not had sufficient impact. Eni had hoped that gas production from Zohr, which started up in late 2017, would provide the feedgas for Damietta. But Zohr’s output has collapsed from 2.74bn cfd in 2021 to less than 1.3bn cfd cu...
Volume: 69Issue: 03Published at Fri, 16 Jan 2026 -
Saudi Investment Primes DME For Regional Expansion
...ainst the DME Oman contract, but DME has long targeted Iraq’s Somo (MEES, 15 September 2017) and Saudi Arabia’s financial backing may tempt it to make the switch from Platts Oman. The partners have sought to emphasize that “ensuring the integrity of the DME Oman contract” is of the utmost priority an...
Volume: 67Issue: 04Published at Fri, 26 Jan 2024 -
Kufpec Eyes Portfolio Optimization After Exiting Norway & China
...cord 107,000 boe/d set in 2019 (see chart). Kufpec had previously aimed to reach 200,000 boe/d by 2020, but ultimately fell well short of this goal (MEES, 8 September 2017). NORWAY CLOSURE Kufpec’s foray into Norway began in 2013 with the purchase of Norske AEDC, the Norwegian su...
Volume: 67Issue: 02Published at Fri, 12 Jan 2024 -
Cyprus Gas Ambitions: From Dreams To Reality In 2023?
...e border. And with Eni either operating or partnering TotalEnergies on the key blocks on the Cypriot side of the border, it was well placed to look for ‘more Zohr’ in Cyprus. Though the first such well, July 2017’s Onesiphoros on Block 11 (Total 50%op, Eni 50%), only discovered sub-commercial vo...
Volume: 66Issue: 04Published at Fri, 27 Jan 2023 -
Oman Set For New Gas Highs With Block 10 Start-Up
...CORD GAS OUTPUT Shell and TotalEnergies have greatly increased their presence in Oman’s exploration acreage in recent years following BP’s successful development of Block 61’s 1.5bn cfd tight gas reserves. Block 61’s Khazzan development came online in 2017 and revitalized Oman’s gas se...
Volume: 66Issue: 03Published at Fri, 20 Jan 2023 -
Oman’s Blocks 3 & 4 Suffer Output Fall For 2022
...REAM As it stands, all of Tethys’ production comes from Blocks 3 & 4, and even before last year’s problems the firm was keen to diversify. It snapped up three additional blocks between 2017 and 2020 and is optimistic about beginning commercial operations at one in the near future. After di...
Volume: 66Issue: 03Published at Fri, 20 Jan 2023 -
Oman Announces New National Gas Company
...d policies related to gas pricing and supply to various sectors of the economy including gas sales to industry. RESURGENT GAS SECTOR The start-up of BP’s 1bn cfd Khazzan tight gas project in 2017 spurred Oman’s gas revolution, with the second phase 500mn cfd Ghazeer play boosting pr...
Volume: 66Issue: 01Published at Fri, 06 Jan 2023 -
Energean Eyes Egypt Amid Israel Gas Sale Uncertainty
...December 2021). The contract at the most immediate risk is with Israeli Independent Power Producer (IPP) Dalia Energy for its 900MW CCGT plant west of Jerusalem. The Dalia plant, which itself started up in 2015, contracted in 2017 to take 0.8bcm/y (74mn cfd) of Karish gas over 15 years. Da...
Volume: 65Issue: 03Published at Fri, 21 Jan 2022 -
Egypt Oil Output: Any Chance Of A Rebound?
...cord 61,800 b/d for 2H 2020, a record 12% of Egypt’s total output, effectively maintaining the monthly record 62,000 b/d hit last August (MEES, 18 September 2020). Having averaged 40,000 b/d for the decade to 2017, GPC output from onshore fields in the Eastern and Western Desert, has rapidly increased si...
Volume: 64Issue: 04Published at Fri, 29 Jan 2021 -
Adnoc’s Sour Crude Wins Over Buyers In China
...0,000 b/d production capacity (Adnoc 60%, Exxon Mobil 28%, Inpex 12%: see chart 2). The partners are working to expand capacity to 1mn b/d by 2024 (MEES, 17 November 2017). Upper Zakum is one of the deliverable grades for the Shanghai International Energy Exchange (INE) oil futures contract which was la...
Volume: 64Issue: 04Published at Fri, 29 Jan 2021 -
Chevron And Energean Face Off For Israel Acreage
...7tcf Athena prospect. If substantial gas is discovered, Energean says it will prioritize development ahead of Tanin which lies further away from the planned Energean Power FPSO. MEES understands Energean is set to relinquish Block 22 offshore Israel, which it was awarded along with Block 12 in 2017...
Volume: 64Issue: 02Published at Fri, 15 Jan 2021 -
Majors Write Off $69bn in Year To Forget
...ainst a long-term horizon rather than prevailing oil prices. 4: MAJORS CAPEX PLANS ($BN): HAVING BOOSTED SPENDING AGGRESSIVELY IN 2017-19, EXXON HAS NOW REVERSED COURSE *LATEST FORECASTS FOR 2020. 2021 PLANS AS PER LATE-NOVEMBER ANNOUNCEMENTS (MID POINT FOR EXXON). SOURCE: COMPANIES, ME...
Volume: 64Issue: 01Published at Fri, 08 Jan 2021 -
Energean’s Edison Purchase Thrown Off-Track By Algeria Bureaucracy
...f Alexandria, are in decline. Substantial investment in new ‘North Abu Qir’ wells in recent years saw a temporary boost. But underlying decline has again taken over. Production of 45,500 boe/d (225mn cfd gas and 5,500 b/d condensate) for 2019 is down from 270mn cfd in 2017 when the new wells ca...
Volume: 63Issue: 05Published at Fri, 31 Jan 2020 -
Oilfield Services Firms Boosted By Rising Middle East Revenues
...llion dollar awards for work in expanding capacity offshore Saudi Arabia (MEES, 12 July 2019). SERVICES FIRMS REVENUE ($BN): BIG THREE SEE COMBINED REVENUES EDGE UP TO 5-YEAR HIGH $80BN IN 2019 *GE SUBSIDIARY SINCE JULY 2017. SOURCE: COMPANY FILINGS, MEES. MENA BRIGHTSPOT Si...
Volume: 63Issue: 04Published at Fri, 24 Jan 2020 -
Crescent Petroleum Focused On Iraq Expansion, Keeps One Eye On Diversification
...escent-KRG relationship has been turbulent, with a long running legal dispute only resolved in late-2017 (MEES, 1 September 2017). Still, Crescent is not deterred. “Even though there are risks, we have been through a lot – whether it is the rise of ISIS, or local issues that all got resolved – and so we...
Volume: 63Issue: 03Published at Fri, 17 Jan 2020 -
Egypt’s Cheiron Tipped For Dana Assets
...oject is West El Burullus in the Mediterranean which it purchased from France’s Engie in 2017 (MEES, 19 April 2017). The block contains “two gas and condensate discoveries [which] are currently being developed with an expected first gas delivery in 2020,” the firm says. Output of around 100mn cfd will be...
Volume: 63Issue: 03Published at Fri, 17 Jan 2020 -
Bahrain’s Grand Ambitions: MEES Speaks With Oil Minister Muhammad Al Khalifa
...w into this formation. We flowed oil in 2017, this is the oil we flowed, from the first test well. Now we are drilling wells to put them on an extended flow test and that data we’ll collect and put in a data room and invite international companies to have a look. Hopefully it becomes cost co...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Eni Completes Middle East Tour De Force
...arjah and Bahrain as it looks to diversify its portfolio. Net liquids output from the region – all from Iraq’s Zubair – averaged 40,000 b/d in 2017 out of a global 852,000 b/d (4.7%). Add in gas, and the net regional share was 43,000 boe/d out of 1.82mn boe/d (2.4%). By way of comparison North Af...
Volume: 62Issue: 03Published at Fri, 18 Jan 2019 -
Qatar Cements Korea LNG Top Spot
...ter taking zero for October. Conversely, Korean LNG imports from the US hit a quarterly record of 1.48mn tons in Q4 and a monthly record of 610,000 tons in October. Not only is Qatar Korea’s top supplier but the feeling is mutual. Korea, having overtaken Japan to become Qatar’s top customer in 2017...
Volume: 62Issue: 03Published at Fri, 18 Jan 2019 -
Oman: Bp & Eni Look To Repeat Khazzan Success
...tcome. BP upstream chief Bernard Looney says the firm aims to “further deepen its important position in Oman, building on the successful delivery of Khazzan in 2017 and its second phase of development that is currently under construction.” BP entered the Khazzan project in 2013 (MEES, 7 June 2013), an...
Volume: 62Issue: 03Published at Fri, 18 Jan 2019