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Pipeline Closure Brings KRG Oil Sector To Standstill
...CLINE Kurdistan’s independent oil sector had been growing increasingly ragged in recent years. The late-2014 oil price collapse dealt a fatal blow to many oil exploration and development projects, while Baghdad’s move to reclaim oil fields around Kirkuk following the KRG’s controversial 2017 in...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Oman Offers Three Blocks In New Bid Round
...: TIGHT GAS PLAY Until recently, the 1,400km2 Block 15 was operated by local firm Hydrocarbon Finder, which drilled two wells in 2017. These produced approximately 44,000 barrels during an extended well test. The firm said that its first exploration well, Ataya-1, was successfully dr...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Mauritania Exploration: Down To Four Blocks As Shell Concentrates Focus, Plans Wildcat
...analysis reiterated by the Mauritanian officials. This is perhaps not surprising given that the block surrounds the only Mauritanian oil field ever to have reached production – Chinguetti, which briefly produced 70,000 b/d following 2006 start-up before output rapidly declined and halted in 2017...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Adnoc Partners With BPFor Transformative Israel Entry
...the new vertical. From May 2017 until January 2021 Mr Kaabi served as CEO of Mubadala’s Petroleum and Petrochemicals division, which through various subsidiaries including Mubadala Energy had established a global upstream energy presence. Shortly after Mr Kaabi moved to another role within Mu...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Equinor Cools On Algeria
...e move as better for the environment, but it can also be seen as a recognition that In Amenas output will never regain the record 815mn cfd and 51,500 b/d hit in 2017. The 2017 boost came thanks to the start-up of a $700mn compression project in late 2016. Output has since resumed a downward tr...
Volume: 66Issue: 12Published at Fri, 24 Mar 2023 -
Egypt Power Consumption Hits Record 167TWh For 2022
...modern CCGT capacity and the giant Zohr gas field in 2017-18 made such power shortages a thing of the past (MEES, 3 August 2018). However, today’s capacity surplus is less robust than it seems: an increased reliance on intermittent renewables generation, often located far from population centers, pr...
Volume: 66Issue: 12Published at Fri, 24 Mar 2023 -
Iran 210,000 B/D Refining Boost
...A long-delayed new 210,000 b/d CDU at Iran’s century-old 390,000 b/d Abadan refinery was completed on 17 March. First announced in 2017, the CDU is part of an expansion phase that includes a 100,000 b/d VDU upgrading unit which will reduce fuel oil yields from 40% to 20%. Iran secured a $1....
Volume: 66Issue: 12Published at Fri, 24 Mar 2023 -
Eni & BP Plan 2023 Gas Wildcat On Oman’s Block 77
...5bn cfd Block 61 (BP 40%, OQ 30%, PTTEP 20%, Petronas 10%) tight gas development. BP’s successes on Block 61 sparked renewed IOC interest in Oman’s upstream. The 1bn cfd Khazzan development came online in 2017, followed in 2020 by a second 500mn cfd phase known as Ghazeer. Eni and BP first si...
Volume: 66Issue: 11Published at Fri, 17 Mar 2023 -
Kuwait Targets 3.1mn B/D End-2023 Capacity
...C’s plans to award a fifth ETSA for development of oilfields in West Kuwait have gone nowhere, and production capacity from the area dropped from 530,000 b/d in 2017/18 to just 461,000 b/d in 2020/21. This is indicative of the major difference between Kuwait’s expansion plans and those of its ne...
Volume: 66Issue: 10Published at Fri, 10 Mar 2023 -
Lukoil Gets Green-Light To Develop Iraq’s 250,000 b/d Eridu
...gnature comes six years after the field’s February 2017 discovery and almost two years after Lukoil in late 2021 filed a “preliminary development proposal” for a 20-year development and production phase (MEES, 26 November 2021). Back then no binding decision could have been made by the Oil Ministry as Ir...
Volume: 66Issue: 10Published at Fri, 10 Mar 2023 -
Geo-Jade To Spend $60mn At Huwaiza
...t at 10,000 boe/d. The target is lower than MOC’s 2017 initial production target of 20-30,000 b/d. Unlike Iraq’s previously awarded Technical Service Contracts, the DPC remunerates foreign firms with a share of revenues and Geo-Jade will be entitled to a Remuneration Percentage Bid (RPB) of 7.15% af...
Volume: 66Issue: 10Published at Fri, 10 Mar 2023 -
Iraq Appoints New Director At State Marketer Somo
...Nouri al-Maliki, a key backer of new Prime Minister Mohammed al-Sudani. Mr Yasiri had held the position since 2017, when he replaced long-term incumbent Falah al-Amri (MEES, 15 September 2017) and swiftly reversed plans to pivot to pricing Iraqi crude exports against DME Oman. MEES understands th...
Volume: 66Issue: 10Published at Fri, 10 Mar 2023 -
IFAD Upper Zakum Contract Set For Q3 Launch
...gional producer still pricing its export grades against Platts Oman. Somo previously announced plans to make the switch to DME Oman back in 2017 (ahead of Aramco) but pulled back from making the move (MEES, 15 September 2017). An IFAD Upper Zakum contract may be a tempting benchmark for Somo to price ag...
Volume: 66Issue: 10Published at Fri, 10 Mar 2023 -
ARA PetroleumTargets 30,000 boe/d Oman Output
...troleum once it has been recommissioned (MEES, 24 February). BLOCK 44: NEW DRILLING CAMPAIGN ARA acquired Block 44 (100%) from Thai state firm PTTEP in August 2016 (MEES, 24 November 2017). It used to be ARA’s only gas producing asset, and primarily consists of numerous small non-as...
Volume: 66Issue: 10Published at Fri, 10 Mar 2023 -
Mena’s No.1 Producer Total Doubles Down On UAE Presence
...a a 16km pipeline. Exports peaked at 27,000 b/d in 2020 according to data intelligence firm Kpler, but slumped to just 18,000 b/d in 2022. This was the lowest annual figure since the Hail field was brought online in November 2017 (MEES, 16 February 2018). Total’s net output from the asset will be ba...
Volume: 66Issue: 09Published at Fri, 03 Mar 2023 -
Eni Cements Role As Algeria’s Key Foreign Partner With BP Purchase
...ENAS & IN SALAH GAS PROJECTS PRODUCED 540MN CFD EACH FOR 2022 WITH BOTH WELL DOWN ON 2017-18 LEVELS (MN CFD) ON A NET BASIS ENI (BP) AND FOREIGN PARTNER EQUINOR RECEIVE AND GAS FROM IN SALAH (BP/ENI 179MN CFD, EQUINOR 172MN CFD FOR 2022) AND LIQUIDS ONLY FROM IN AMENAS (15,700 B/D EACH FOR 20...
Volume: 66Issue: 09Published at Fri, 03 Mar 2023 -
Iraq-KRG Oil Talks Resume But Wide Differences Remain
...oup, the firm gave up a 60% stake in June 2017 to Russian state-firm Rosneft (MEES, 16 June 2017) which brought capacity to the current 950,000 b/d. Although typically only around half of this is being utilised (see chart). Moving ownership from Kar and Rosneft to INOC in the future would be pr...
Volume: 66Issue: 09Published at Fri, 03 Mar 2023