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Kuwait’s Extends Shell’s Key Upstream Role
...SA, which runs for 10 years (MEES, 21 March). There have been no subsequent ETSAs awarded, despite previous plans to award new contracts for heavy oil development (MEES, 2 June 2017) and for West Kuwait (MEES, 20 April 2018). Plans to develop a new contract model have also yet to reach fruition (ME...
Volume: 68Issue: 18Published at Fri, 02 May 2025 -
Iran Revives 4mn B/D Production Target
...As key Opec members meet this weekend to decide whether to extend their ‘voluntary cuts’ into the second half of the year (see p9), Iran will as always cast its support from the sidelines. The country has essentially been exempt from cuts ever since Opec+ cuts began in January 2017, while ev...
Volume: 67Issue: 22Published at Fri, 31 May 2024 -
Iraq Bidding: Shell & Adnoc Locked Out By Inflexible Criteria
...ar, the firm declared commerciality on its 2017 Eridu discovery on Block 10 in nearby Dhi Qar province (MEES, 10 March 2023) with plans for 30,000 b/d pilot production in 2027. Reaching that milestone took two years after submitting a development proposal, leaving Lukoil and its Japanese partner Inpex di...
Volume: 67Issue: 21Published at Fri, 24 May 2024 -
Iraq Bidding: Chinese Firms Dominate
...gion’s rebounding oil output (see p5). In the upstream, it operates the Kurdish-controlled Khurmala dome portion of the giant Kirkuk oilfield and between 2014 and 2017 it controversially operated the field’s Avana Dome, and the nearby Bai Hasan field after Kurdish forces moved in claiming to secure th...
Volume: 67Issue: 20Published at Fri, 17 May 2024 -
Rising Kurdistan Oil Production Gives Iraq Opec Headache
...mmitments (MEES, 10 March 2017). The collapse of Kurdistan production in mid-2023 had been a boon for Baghdad, which swiftly increased its directly-controlled crude exports from the south to boost revenues but has been slow to cut again as northern output has returned. An agreement was struck with Erbil in Ap...
Volume: 67Issue: 20Published at Fri, 17 May 2024 -
Gas Output: From Bad To Worse
...Egypt’s gas output woes go from bad to worse. Output slumped to a six-year low 5.21bn cfd for March, almost 2bn cfd down on the record 7.19bn cfd hit in September 2021. On a quarterly basis, output was down 3% sequentially at 5.31bn cfd for Q1, the lowest since 4Q 2017 and some 25% below 3Q...
Volume: 67Issue: 19Published at Fri, 10 May 2024 -
Kurdistan’s Khor Mor Gas Expansion Back On Track
...8mn), up from $59mn in the same period last year (see chart 2). This is by far the biggest figure since 2Q 2017’s $707mn, following which an agreement was reached with the KRG in August 2021 to write them off in return for a cash payment and the licenses to two additional exploration blocks (MEES, 1 Se...
Volume: 66Issue: 20Published at Fri, 19 May 2023 -
Kuwait Targets 2030 For Delivery Of $19bn In Megaprojects
...rth Kuwait, mostly from the Raudhatain and Sabriya fields (see map, p3), had hit 600,000 b/d by end 2022, up 37,000 b/d on the 563,000 b/d figure at the end of 2020-21 but still below 2019-20’s 635,000 b/d and the 2017-18 peak of 760,000 b/d. 2022’s gains may well be thanks to the ramp-up of op...
Volume: 66Issue: 19Published at Fri, 12 May 2023 -
Shell & BP Advance Egypt Drilling As Chevron & Exxon Make Deepwater Splash
...igocene finds in Egypt’s Mediterranean include Eni’s Temsah, where output peaked at 1bn cfd in 2012 but has singe fallen to negligible levels with decommissioning work ongoing. The Miocene, meanwhile, offered up BP’s Atoll field, which came online in late 2017 and produces around 400mn cfd. Shell and pa...
Volume: 66Issue: 19Published at Fri, 12 May 2023 -
Iran’s Million Barrel West Karun Ambitions Recede Into The Distance
...arded Petropars a $1.3bn contract (MEES, 24 July 2020) to deliver the phase after hopes of bringing foreign IOCs were derailed first by Iran’s protracted and unfavorable contracting offerings in 2016 and 2017 (MEES, 2 September 2016 & MEES, 23 June 2017) before sanctions dealt the final blow. Re...
Volume: 66Issue: 18Published at Fri, 05 May 2023 -
Mauritania Gas Development Gets European Supply Crunch Boost, But Exploration Canned
...e north is set to be relinquished on the expiry of its current exploration period at the end of next month. At least BP drilled an exploration well on C-12, 2017’s Lamantin-1 which unsuccessfully targeted oil. This is more than ExxonMobil did on its three ultra-deepwater blocks – C-14, C-17 an...
Volume: 65Issue: 20Published at Fri, 20 May 2022 -
Iraq Crude Exports Push Against Capacity Constraints
...ins only in 2023 and 2025. The first gains are slated to come through the much-delayed Sealine 3 pipeline which is planned to add 600,000 b/d by connecting to ABOT, the non-operational SPM4 and the 600,000 b/d Khor al-Amaya (KAAOT) terminal which has been offline since 2017 due to pipeline leaks. Mr...
Volume: 65Issue: 18Published at Fri, 06 May 2022 -
Oman Oil Output At Near-Record Highs As India Shipments Surge
...similarly low volumes in April. With Chinese spot crude buying having dropped off significantly over the last couple of months as Covid restrictions crimp demand, India has stepped up to fill the gap. Shipments to India doubled to 220,000 b/d in March, the highest figure since October 2017 th...
Volume: 65Issue: 18Published at Fri, 06 May 2022 -
Shell Egypt Slump Opens The Door For Chevron
...ft Shell-predecessor BG unable to meet its export commitments from the 7.2mn t/y ELNG export terminal which adjoins the WDDM processing facilities at Idku (MEES, 7 February 2014). Even the addition of UK major BP’s West Nile Delta (WND) project from 2017 wasn’t enough to reboot LNG exports. This pr...
Volume: 64Issue: 21Published at Fri, 28 May 2021 -
Oman State Firm Sees Oil & Gas Output Drop Amid Opec+ Cuts
...ose to Block 9. Block 30 is located to the east of Block 9 and is a gas play awarded to Oxy in 2017 (MEES, 24 November 2017). OQ says the partners are assessing the next phase of development, while Oxy has previously said that it intends for the nearby Block 62 to act as a hub for any Block 30 ou...
Volume: 64Issue: 18Published at Fri, 07 May 2021 -
Iraq Offers To Buy Exxon Wq-1 Stake ‘In Kind’
...mmercial terms remain a major hurdle (MEES, 22 September 2017 & MEES, 3 April 2020). Iraq’s motivation in having BOC take over from Exxon may be due to continued hopes of a future sale to a western IOC, as well as concern over the extent to which its oil sector is becoming reliant on Chinese firms (ME...
Volume: 64Issue: 18Published at Fri, 07 May 2021 -
Bahrain In Talks With Neighbors Over GCC Gas Grid
...xt month, no expansion here is viable for the foreseeable future. Saudi Arabia was in fact in talks with Qatar over potential gas imports before the embargo began in June 2017 (MEES, 8 December 2017). That option is now gone, but energy ministers from Bahrain, Saudi Arabia and the UAE have all ra...
Volume: 63Issue: 22Published at Fri, 29 May 2020 -
KRG Oil Sector Risks Unwinding In 2020
...evitable (see box, p3). The current situation is the most perilous the KRG has faced since Baghdad reclaimed swathes of territory in the aftermath of the ill fated September 2017 referendum on independence (MEES, 29 September 2017). Oil prices have crashed so far that revenues now fall well short of th...
Volume: 63Issue: 21Published at Fri, 22 May 2020 -
Low Cost Qatar Targets Counter Cyclical Investment
...cess cargoes, prices there are just as weak (MEES, 1 November 2019), and as a result export revenues had plunged to their lowest level since 2017 (MEES, 1 May). Cutting volumes below Qatar’s 77mn t/y capacity could provide a price-boost, but QP doesn’t intend to provide a helping hand to rival pr...
Volume: 63Issue: 21Published at Fri, 22 May 2020 -
QP Wades Further Into Mexico’s Offshore
...ocks 15 and 33 – are operated by Total, while Block 34 is operated by BP. BP’s involvement may yet prove a major hurdle, given the firm’s self-described “long and checkered relationship with Qatar” (MEES, 17 November 2017). BP has been notably absent since QP rejuvenated its international portfolio in...
Volume: 63Issue: 19Published at Fri, 08 May 2020