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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 -
Qatar & Turkey: Brothers In Arms?
...up brought Abdel Fatah al-Sisi to power in Egypt relations with Qatar plunged to even worse depths than prior to Hosni Mubarak’s 2011 ousting. But even now the economic relationship between Qatar and Turkey is relatively menial, even in comparison to that between Ankara, UAE and Saudi Arabia – wi...
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 -
Saudi Petchems JVs Get Greedy For Naphtha, Cutting Into Exports
...ll, to a total 234.4mn barrels at the end of April, the lowest since November 2011 and the seventh consecutive monthly decline. Total oil stocks also fell to 320.4mn barrels, the lowest since December 2011 (see table, p10). ...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Gulf Countries Throw Jordan A $2.5bn Lifeline Amid Unrest
...eful economic predicament. After all, the deal, which amounts to $500mn a year, fails to even replace the $5bn aid that Jordan received from 2012-2017. Amid large-scale Arab Spring protests in 2011, Saudi Arabia, Kuwait, the UAE and Qatar provided Jordan with $5bn (including $2bn from Riyadh alone) in...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Qatar Marks Embargo Anniversary With Exxon Tie-Up
...urces. The Golden Pass LNG import terminal (QP 70%, ExxonMobil 17.6%, ConocoPhillips 12.4%) in the US opened in 2011 with plans to import 15.6mn t/y of LNG from Qatar: but the “Shale Revolution” boosted US gas output to the extent that the partners began looking at turning it into an export facility (ME...
Volume: 61Issue: 23Published at Fri, 08 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 -
Jordan Protests Victorious As Government Nixes Imf-Backed Tax Bill
...reign aid (MEES, 13 April)—the conflict in Syria has severely stunted Jordan’s growth. Jordan averaged 6.6%/year GDP growth from 2005 to 2011 versus 2.6% since, with 2016 and 2017 the lowest yet. The World Bank expects Jordan to average 2.4% growth in 2018 —only up marginally from 2017 (see chart). Fr...
Volume: 61Issue: 23Published at Fri, 08 Jun 2018 -
UAE Delays, Jordan Rethink Blur Mena Nuclear Vision
...ntractor Status Iran Bushehr-1 2011 1.0 1 3....
Volume: 61Issue: 23Published at Fri, 08 Jun 2018 -
Tunisia Looks To The Sun To Cut Dependence On Algerian Gas
...ongside seven straight years of falling output since the 2010 peak of 310mn cfd. Initially this fall was due to instability and bureaucratic inertia in the wake of the country’s 2011 revolution, with the slump in oil prices since late 2014 providing a second blow to investment as IOCs slashed capex (MEES, 23...
Volume: 61Issue: 22Published at Fri, 01 Jun 2018