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Lebanon, Cyprus Confer On Offshore Economic Zones
...cond bidding round for 12 offshore blocks probably in the second half of 2011. Nicosia has stated that before it proceeds with the bidding round, it would prefer to have talks on the issue of offshore boundaries with its neighbors concluded....
Volume: 53Issue: 44Published at Mon, 01 Nov 2010 -
IMF Says Prospects For MENAP Region Have Improved
...covery, prospects for the Middle East, North Africa, Pakistan and Afghanistan (MENAP) have improved, the IMF says in its latest Regional Economic Outlook for October 2010. With almost every country in the region projected to grow faster in both 2010 and 2011 relative to 2009, plans have been put in pl...
Volume: 53Issue: 44Published at Mon, 01 Nov 2010 -
Gulfsands Discovers Oil At KHE-18 Well
...serves estimation process. The results of this process will be available during the first quarter of 2011. The company added that following the completion of operations on the KHE-18 well, the drilling rig Crosco 401 will move to the Twaiba-1 exploration well, located some 7 kms north northeast of th...
Volume: 53Issue: 44Published at Mon, 01 Nov 2010 -
Austria’s OMV Takes Control Of Turkey’s Petrol Ofisi For €1Bn
...s regarding the Turkish lira during 2011. Russia’s Lukoil intends to invest $100mn in Turkey in the near-term, according to Vagit Alekperov, Lukoil’s president. Speaking in Istanbul on 26 October, Mr Alekperov said investment would go toward expanding its oil distribution network, oi...
Volume: 53Issue: 44Published at Mon, 01 Nov 2010 -
Sanctioning The Islamic Republic: A New Global Wave
...early 2011. In addition to the verbal assaults and defiant posture, Tehran has also been quietly moving to meet all eventualities. Anticipating new US and Western sanctions, the groundwork has been laid to resist such punishments, or deflect their influence through: (1) stockpiling of ga...
Volume: 53Issue: 44Published at Mon, 01 Nov 2010 -
Looming Gas Glut And Upstream Constraints Hamper North African Export Plans
...e new 4.5mn tons/year Skikda LNG plant, one of the two new LNG projects currently being implemented in Algeria. September 2011 was the start-up date initially proposed by the project’s operator KBR, although this had been put back to the second half of 2012. Egypt’s Orascom Construction and Fr...
Volume: 52Issue: 48Published at Mon, 30 Nov 2009 -
CNPC Signs Three Accords, Strengthens Its Presence In Sudan’s Oil Sector
...though no details of the planned expansion were mentioned last week, Sudapet’s Chairman Salah Wahbi was quoted as saying in July that plans were in place to raise Sudan’s refining capacity to 200,000 b/d by 2011. The plant was originally built by CNPC, which also completed the first expansion phase in...
Volume: 52Issue: 48Published at Mon, 30 Nov 2009 -
Plynostav Signs Contract For AGP Homs-Kilis Pipeline
...t at €52mn, and the new contract has reduced this amount to €25mn plus S£700mn ($15mn). Work is expected to begin shortly and be completed in March 2011. Stroytransgaz built a 320km section of AGP between the Jordanian-Syrian border to the Rayan gas plant near Homs. This section was put into op...
Volume: 52Issue: 48Published at Mon, 30 Nov 2009 -
Zadco Launches Long-Anticipated Capacity Push
...fshore Upper Zakum oil field. The incremental capacity was to have been on stream by 2011, but a review of the development strategy with a view to cutting costs has pushed this back to 2015. Costs on the development, which has to contest with deeply fractured geology, have been slashed by around 30% th...
Volume: 52Issue: 48Published at Mon, 30 Nov 2009 -
UAE Leads Gulf Renewable Energy Drive, But Emissions Challenge Looms
...ans than Abu Dhabi, but are nevertheless starting to embrace the sector. Saudi Aramco and Japanese refining company Showa Shell agreed mid-year to build a 10mw solar pilot project in the Kingdom. If this is successful when completed in 2011, it could be expanded into a much larger project, es...
Volume: 52Issue: 47Published at Mon, 23 Nov 2009 -
Iran Rejects UN Nuclear Fuel Supply Proposals
...richment facility in the city of Qom, which would be commissioned by 2011. However the agency said that the belated revelation of the new uranium enrichment site might mean that Iran is hiding further nuclear activity. Iran maintains that the Qom facility constitutes a back-up option in case the first en...
Volume: 52Issue: 47Published at Mon, 23 Nov 2009 -
Syria Inaugurates Gas Projects
...eppo to Kilis is currently under construction and is due for completion by early 2011, while the second from Aleppo will be built in the future when more gas becomes available, Mr 'Alaw said during the inauguration ceremony. At present however Syria could use the existing pipeline network Homs-Pa...
Volume: 52Issue: 47Published at Mon, 23 Nov 2009 -
Iraq’s Technical Service Contracts – A Good Deal For Iraq?
...uthern Iraq just to service the projects awarded so far (Rumaila, West Qurna 1 and Zubair) will be a major effort and likely to be much slower than the published aggressive development plans require. These will require several hundred drilling rigs to be operating by 2011. Apart from this challenge, the re...
Volume: 52Issue: 47Published at Mon, 23 Nov 2009 -
Regional Implications For BG’s Renegotiated Gas Price In Oman
...cautiously optimistic, but there will be more clarity in 2011 and 2012, when BG and BP have confirmed their positions,” he said. On the LNG side, BP’s contract to lift 800,000 tons/year expires at the end of 2009, and this will free up more gas for domestic use, and take idle LNG capacity fr...
Volume: 52Issue: 46Published at Mon, 16 Nov 2009 -
North Africa Embraces Renewable Energy
...0mw in Egypt, with another 120mw of capacity under construction. The Egyptian Wind Energy Association estimates that the country will be have the capacity to generate 1.05gw from wind power by 2011. But even if these projects are realized, in the short term wind power will contribute just a small fr...
Volume: 52Issue: 46Published at Mon, 16 Nov 2009 -
Occidental, Mubadala and NOGA Finalize Awali Joint Venture
...2011. By 2016, it should grow to 102,300 b/d, before reaching a peak of 112,600 b/d in 2019.” Mr Monfaridy added that production capacity would begin to decline slowly after 2020. Gas production capacity is expected to reach a peak of 2.75bn cfd in 2020, and hold steady until 2024, said Mr Mo...
Volume: 52Issue: 46Published at Mon, 16 Nov 2009 -
Eni And KMG EP Sign Upstream, Downstream MOU
...pected to begin in 2011 (MEES, 9 November). Two minority shareholders in Dragon Oil have said they will reject the offer made by ENOC to purchase all the shares of the company for £4.55 in cash for each share. Baille Gifford & Co, which holds 4.2% of Dragon, and Noster Capital, with 0....
Volume: 52Issue: 46Published at Mon, 16 Nov 2009 -
Israel’s Mekorot To Build Desalination Plant In Cyprus
...move into sectors such as water and energy,” a spokesperson for Logicom told MEES. “We have started construction, though we are still in the design phase of the process. The structure is expected to be completed within 24 months, by August 2011,” said Logicom....
Volume: 52Issue: 46Published at Mon, 16 Nov 2009 -
Iran’s Inflation Rate Falls To 16.7% In October
...10-11) 2.569 1390 (2011-12) 2.138 1391 (2012-13) 1.852 1392 (2013-14) onwards 5.287...
Volume: 52Issue: 46Published at Mon, 16 Nov 2009 -
Saudi Aramco Expands Petrochemicals Operations
...ceive benzene and paraxylene feedstock from the aromatics complex. A propylene unit will utilize ethylene and a mixed C4 stream, and will also supply the derivatives units. If the project gets final approval, construction should begin in 2011 with start‐up due late in 2014. Fujian involved ex...
Volume: 52Issue: 46Published at Mon, 16 Nov 2009