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TotalEnergies First Again With Qatar LNG Expansion Deal
...untry’s civil war, and there has been no production in Syria since December 2011 because of the conflict there. A recent truce in Yemen has at least raised hopes of a potential restart there (MEES, 6 May), but Syria offers less optimism (see p12). As a result, TotalEnergies’ net Mena gas output has dr...
Volume: 65Issue: 24Published at Fri, 17 Jun 2022 -
Algeria’s Sonatrach & Spain’s Naturgy Prepare For Gas Price Battle
...ttled for €1.5bn ($1.9bn), with Sonatrach taking a stake in the Spanish firm as part of the settlement (MEES, 20 June 2011). This stake stood at 4.1% in 2019. Naturgy and Sonatrach also partner each other on the Medgaz pipeline and recently upped their stakes to 49% and 51%, respectively (MEES, 5 Ju...
Volume: 63Issue: 25Published at Fri, 19 Jun 2020 -
Syria’s Block 26 Continues To Pump As UK’s Gulfsands Waits On Standby
...lfsands’ Block 26 was one of Syria’s most promising oil assets when the war erupted in 2011, forcing the UK minnow (and every other western firm) to declare force majeure and halt operations. The firm still retains 50% of the block, with Chinese state firm Sinochem holding the other half. But since 2014 wh...
Volume: 63Issue: 24Published at Fri, 12 Jun 2020 -
Qatar Signs Record-Breaking Deal For LNG Tankers
...mn t/y, which it reached in 2011 (MEES, 8 April 2011). Nakilat lists its current LNG fleet as comprising of 69 LNG tankers including 31 Q-Flex (210-217,000m³) and 14 Q-Max (263-266,000m³) tankers. These Qatari tankers are literally in a class of their own: almost all non-Qatari LNG tankers are of a re...
Volume: 63Issue: 23Published at Fri, 05 Jun 2020 -
Dubai’s Dragon Roars In To Egypt With BP Purchase
...timated $500mn for BP’s Gupco subsidiary, which manages the firm’s 12 concessions containing 45 fields in Egypt’s mature Gulf of Suez oil province. Output was 71,000 b/d for 2017-18, 11% of Egypt overall output, down from 72,500 b/d for 2016-17 and 78,000 b/d for 2011-12. Net output to BP is around 40...
Volume: 62Issue: 23Published at Fri, 07 Jun 2019 -
Aphrodite Deal Close
...US firm Noble Energy and its partners at Cyprus 5tcf Aphrodite gas field are locked in discussions with Nicosia over restructuring the Production Sharing Contract (PSC) signed in August 2011. The original contract model itself was drafted in 2008. MEES understands that Noble is seeking to...
Volume: 61Issue: 26Published at Fri, 29 Jun 2018 -
Eni Ramps-Up Zohr, Mubadala Farms In
...t 6.5bn cfd in September, oil minister Tarek El Molla says, an all-time high that easily surpasses the previous record of 6.219bn cfd reached in December 2011. The new gas gains come courtesy of Italian firm Eni’s Zohr gas field. Discovered in August 2015, the field was fast-tracked by Cairo as it...
Volume: 61Issue: 26Published at Fri, 29 Jun 2018 -
Total Poised For Further Mena Upstream Expansion
...minant source of Total’s regional gas output (75% in 2017). Mena gas production crumpled from 1.46bn cfd in 2012 to last year’s nadir of 772mn cfd, a near 50% plunge in just six years. This is essentially due to conflict outages. Syrian output averaged 218mn cfd in 2011 before the country’s descent in...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
ExxonMobil’s Rapidly-Expanding Mediterranean Presence
...bya. The firm drilled two dry wells here in 2009 and 2010. It had been considering further drilling but amid prolonged instability after the country’s 2011 revolution it quit the last of the blocks in 2012 (MEES, 9 July 2012). Exxon did go to the trouble of qualifying as an operator for Lebanon’s pl...
Volume: 61Issue: 23Published at Fri, 08 Jun 2018 -
Tunisia Upstream: Strikes Over, Decline Continues, Hope Delayed To 2019
...donesia’s Medco is the third key player in southern Tunisia. It partners Eni and OMV at both the Borj el Khadra exploration permit and the adjoining Adam production concession, where output has slumped from 7,500 b/d in 2011 to an average of 2,800 b/d for both 2017 and Jan-April 2018. Medco also has 10...
Volume: 61Issue: 23Published at Fri, 08 Jun 2018 -
Algeria Holds IOC Partners Close
...ale resources. Eni was among the companies to sign provisional deals with Sonatrach in 2011 and 2012 to explore for shale gas. However there has been vociferous local opposition, and the economics do not make sense at current oil prices. Mr Descalzi says Eni has “great ambitions to intensify its pa...
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
Egypt Seeks Virtuous Output Circle: Reserves Up, Dues Down, More Output
...proved its external financial position. The country’s foreign reserves hit $31.1bn at end-May (see chart 1), the highest level since 2011 when investment collapsed in the wake of the revolution overthrowing Husni Mubarak. Reserves rapidly halved from the $36bn end-2010 level and struggled to break above $20...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017 -
Iran: New NIOC Chief Tasked With Securing Foreign Investment
...sed in January, but is struggling to put in place a framework that will entice IOCs back into its upstream sector. Without international firms’ technical expertise and financing, Iran will struggle to push beyond pre-sanctions output of 3.58mn b/d in 2011. Prior to resigning, Mr Javadi was coming un...
Volume: 59Issue: 24Published at Fri, 17 Jun 2016 -
Wintershall Eyes Future Opportunities In Libya Despite Onshore Production Shut-In
...August 2012). Wintershall Libya is 51% owned by German chemicals firm BASF and 49% owned by Russian state gas giant Gazprom. Key assets are the C96 and C97 blocks in the east of Libya’s Sirte Basin oil production heartland, which typically produced 100,000 b/d prior to Libya’s 2011 re...
Volume: 58Issue: 23Published at Fri, 05 Jun 2015 -
Analysis: Will New Amir Era Usher In QP Restructuring?
...cember 2011). In addition to a recent 2.5tcf Wintershall find in Block 4N, Qatar has two other sources of gas available without the moratorium being lifted: surplus gas from the 1.5bn cfd Barzan project; and a 500mn cfd cushion field beneath Dukhan oil field. The cushion field was taken out of pr...
Volume: 56Issue: 26Published at Fri, 28 Jun 2013 -
Korea’s KNOC In Line For ADCO Stake Despite Limited Experience
...12. Source: Company Annual Reports, media reports Defense Ties South Korea is also a growing defense partner of the UAE, having sent a contingent of troops to train UAE forces in 2011. South Korean firms have sold drone aircraft to the UAE, which is also in talks to buy South Korean-bu...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Petrofac Wins ADCO Contract
...s processing plant. In addition to allowing increased quantities of crude to be extracted, injecting CO₂ will allow currently-reinjected natural gas to be sent to the grid to ease the emirate’s annual summer gas shortage, which exceeds 2bn cfd (MEES, 2 May 2011). The Petrofac award comes as...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Qatar’s New Leadership: Impact On QP’s And QIA’s Strategies
...e p16). Shaikh Hamad also heads its subsidiary Qatar Holding. QIA’s energy buying spree started in 2011 – with stakes in European utility firms Energias de Portugal and Spanish electricity supplier Iberdrola. In 2012 it bought 3% stakes in Total and Shell, and MEES learns it is still in ta...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
Occidental Eyes Sale Of All Mideast Assets
...en more geopolitical weight in the negotiations. For 20 years until 2011 Ray Irani was Oxy’s CEO and Chairman and total shareholder return increased more than 20-fold. In the Middle East, his relationship-building skills with rulers and powerful oil figures secured Oxy many concessions. But th...
Volume: 56Issue: 23Published at Fri, 07 Jun 2013 -
Wintershall Qatar Gas Plans
...ploring Qatar. By end-2013/early 2014, Chinese state firm CNOOC and French major Total are expected to drill their first well in exploration Block BC. In Qatar, Total in May 2011 took a 25% stake in exploration Block BC (MEES, 26 April). A potential export option is Abu Dhabi-based Dolphin En...
Volume: 56Issue: 23Published at Fri, 07 Jun 2013