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South Tunisia Gas Development Pushed Back
...the block was dry. Gulfsands says it plans to drill a further well in 2014. On Kerkouane a commitment well is slated to be drilled “prior to February 2014,” Gulfsands says. ADX is in the process of further reducing its remaining 30% Chorbane stake signing a 28 November letter of intent to...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Saudi Crude Burning For Power Continues To Rise
...l from the Yanbu’ refinery in 2014. But its main source of fuel will continue to be gas. Saudi Aramco’s total wellhead output averaged 9.88bn cfd in 2011. The year-end peak of 11.2bn cfd roughly equates to 7.84bn cfd of sales gas assuming a 30% loss in processing – although not all went to power ge...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Baghdad Sets Road Show Date
...velopment project. Lukoil is hoping to start ramping up a 200,000 b/d Phase 1 of the 1.8mn b/d project at the end of 2013. Field capacity could eventually rise to hit 400,000 b/d by 2014. But sometime that year, this project, and others, are likely to “hit a wall,” sources say, unless significant efforts ar...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Aramco Awards Contracts To Maintain Production Capacity
...fshore oil field – has been producing since the early 1950s and has reserves of 35bn barrels. The work will be finished by end 2014 and includes a tie-in platform and auxiliary platforms. Engineering firms bidding for the work include Houston-based McDermott and Italy’s Saipem under their existing Long Te...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Bapco Nears Sitra Decision Time
...e equivalent of 400-800mn cfd for 15 years starting in 2014. “We need the gas. Without this gas…all our other plans, all the refinery plans and modernizations mean nothing,” one Bahraini oil executive tells MEES....
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
TAQA Secures $1.1Bn Deal For BP UK Assets
...a. The deal comes amid general recovery in relations between Abu Dhabi and BP as the major seeks to renew its stakes in historic upstream concessions, which expire in January 2014 (MEES, 16 November). “We think this acquisition is a great strategic fit for TAQA,” the company’s head Carl Sh...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Algeria’s South West Gas Project Delayed To Late-2016
...gan earlier this year with a total of 41 wells, of which 24 were to be drilled before first production. Construction of gas processing facilities will begin in 2014, GdF says. GdF is operator with 49% whilst Sonatrach has its customary 51% stake. However GdF is responsible for almost two-thirds (65%) of...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Qatari Condensate Production On The Rise
...Energy and Industry Muhammad al-Sada signed a 25-year renewal of Total’s PSA for 25,000 b/d offshore al-Khaleej. The contract was due to expire in early 2014. For Qatar’s swing producer, the offshore al-Shaheen field, the development plan is to plateau production at current rates of 30...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Morocco Set For Record 2013 Drilling As Genel Expands
...year exploration period. The firm says it will kick off seismic acquisition in January, “with the aim of drilling our first well in 2014.” The 3,259 sq km block has water depths of 60ms to 320ms. Mir Left is directly offshore Agadir and immediately northeast of the Sidi Moussa Block where Genel in Au...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Saudi Aramco Pushing Refinery Projects, Marks Jazan Milestone
...industrial city capable of attracting investors.” In May Yanbu’ Aramco Sinopec Refining Company (Yasref) estimated progress on the project, due on-stream in the second half of 2014, at 20%. Saudi Aramco says the refinery will process 400,000 b/d of Arabian Heavy crude oil and will produce hi...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
QAPCO Inaugurates LDPE 3 Plant At Mesaieed
...art of the complex. Other planned units will have capacity to produce 850,000 t/y of high density polyethylene (HDPE); 430,000 t/y of LDPE; 760,000 t/y of polypropylene; and 83,000 t/y of butadiene. QP announced in September that it plans to borrow $10-13bn in 2014 to finance three projects at...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Iran Nuclear Plant Shut Down, UAE Gauges Impact Of Korea Safety Scam
...ak and observed that the installation of cooling and moderator circuit piping was continuing. “During the DIV,” said the report, “Iran stated that the operation of the IR-40 reactor was now expected to commence in the first quarter of 2014.” Mr Albright said the Arak construction delay was widely an...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Bahrain Unveils 2013-14 Draft Budget
...BAHRAIN Bahrain Unveils 2013-14 Draft Budget Bahrain’s two-year draft budget for 2013-14 projects total revenue at BD5.578bn ($14.83bn) – comprising BD2.788bn for 2013 and BD2.790bn for 2014 – and total expenditure at BD6.993bn ($18.60bn) – comprising BD3.445bn for 20...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Abu Dhabi Concession - Game On For BP
...erations (ADCO) consortium whose concession to run the emirate’s major onshore oil fields expires on 11 January 2014. UK Prime Minister David Cameron visited the UAE in early November to meet UAE President Shaikh Khalifa bin Zayid al-Nuhayyan and Crown Prince Shaikh Muhammad bin Zayid al-Nu...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012 -
Abu Dhabi Looks To Offshore Future
...t to start ramping up end 2014-early 2015 and hit its 750,000 b/d target in 2016. Construction of the first island, North Island, with targeted capacity of 279,000 b/d, a planned permanent population of 500 workers and 200 well slots, has just been completed. Total island facilities’ pr...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012 -
Middle East Refining Capacity To Rise, Says OPEC
...01 0.03 0.11 0.59 0.22 0.33 1.76 2014 0.09 0.41 0.05 0.00 0....
Volume: 55Issue: 47Published at Fri, 16 Nov 2012 -
KOC Eyes $56bn Investment Bonanza
...pital expenditure of $11.5bn in 2012-13, $5.9bn in 2013-14, $11.4bn in 2014-15, $12.5bn in 2015-16, $9.1bn in 2016-17, and $5.4bn in 2017-18. Bad Press To some Kuwait may appear a poster child for how not to run an oil industry. But while there are clear issues surrounding pa...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012 -
Cyprus-Israel-Greece Electricity, Gas Links Studied
...ll identify EU-wide gas and electricity interconnection projects that it will partly finance from its 2014-20 budgets. If the HVDC cable is included, it could secure 5-10% of its final construction cost in the form EU grants and become eligible for loans from the European Investment Ba...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012 -
Mubadala To Invest $8bn In East African LNG Production
...jairah. This would complement or replace any contracts it will sign for supplies that will start in 2014. Abu Dhabi has been unable to import more gas through the 3.6bn cfd Dolphin Energy’s pipeline network to the UAE. The pipeline still has spare capacity of 1.6bn cfd. But Dolphin, in which Mubadala ha...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012 -
Ankara Poised To Unleash KRG Upstream Investment
...condly to be absorbed into the Iraqi military, the Czech planes, which are lighter fighters, ideal for use in the KRG, could be operational by early 2014, one security analyst tells MEES. Iraq’s oil industry take-off, which at long last is promising to deliver a measure of prosperity and se...
Volume: 55Issue: 46Published at Fri, 09 Nov 2012