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Libya’s NOC Announces New Sirte Basin Discovery
...ospect, where OMV last year started its first drilling campaign in Libya since the 2011 revolution (MEES, 1 November 2024). At a depth of 10,476 feet (3,193 meters), the exploratory well is expected to produce “more than 4,200 b/d of oil and around 2.6mn cfd of gas,” says NOC. Block 4 of Area 106 ad...
Volume: 68Issue: 44Published at Fri, 31 Oct 2025 -
Lebanon Approves Cyprus Maritime Border, Syria Next
...mplicated relationship with Lebanon: despite long periods of occupation, political domination and meddling, Syria has historically seen Lebanon as a ‘breakaway province’ and therefore resisted any form of boundary demarcation. Lebanon unilaterally claimed its EEZ in a letter to the United Nations in 2011...
Volume: 68Issue: 44Published at Fri, 31 Oct 2025 -
OMV Sees Huge Libya Potential As It Steps Up Drilling
...fted force majeure on Libyan exploration activity (MEES, 10 November 2023), resuming drilling campaigns in Libya last year for the first time since the 2011 revolution (MEES, 1 November 2024). Despite the increased activity, concerns over the security situation and political instability remain ac...
Volume: 68Issue: 43Published at Fri, 24 Oct 2025 -
Exxon: Turning Disadvantaged Barrels Into Advantaged Ones
...years of conflict following the 2011 revolution, ExxonMobil is also eying a return after more than a decade. It signed an MoU with the NOC in August (MEES, 8 August), to examine four offshore blocks located off the northwest coast and the country’s Sirte Basin. “This partnership agreement brings to...
Volume: 68Issue: 42Published at Fri, 17 Oct 2025 -
Iraq Upstream Prospects Improve As Exxon Mulls Return
...censing round. Relations between Iraq and Exxon deteriorated after the firm controversially entered the Kurdistan Region in 2011, with Baghdad barring the major from bidding in subsequent rounds. By 2021, ExxonMobil was looking for the exit door, but the oil ministry repeatedly blocked Exxon’s attempts to se...
Volume: 68Issue: 41Published at Fri, 10 Oct 2025 -
Oman To Offer New Blocks
...offer. The ministry did not respond to MEES questions for further details. Block 18 was last operated by India’s Reliance Industries which abandoned it in 2011 after a failed drilling campaign (MEES, 9 November 2012). ...
Volume: 67Issue: 40Published at Fri, 04 Oct 2024 -
Egyptians Wary Rushed Elections Spell Tougher Times Ahead
...ility to raise cash for repayments, with top credit agencies downgrading the outlook for Egyptian debt. The IMF expects debt to increase from 88.5% of GDP in 2022 to 92.7% this year. Meanwhile, cumulative Gulf aid to Egypt since 2011 is estimated to have exceeded $110bn. This includes the $22bn pl...
Volume: 66Issue: 43Published at Fri, 27 Oct 2023 -
Iran Eyes Imminent Petrochemicals Boost
...d is PGPIC’s only methanol project under construction, with locally manufactured “super heaters” installed in June. Hengam is set to produce 726,000 t/y of ammonia and 1.155mn t/y of urea and has been under construction since 2011 – 12 years and counting. The project suffered a setback when Sa...
Volume: 66Issue: 43Published at Fri, 27 Oct 2023 -
Israel Halts Tamar & EMG Flows As Fight With Hamas Continues
...thering output from 2011’s 3.5tcf Aphrodite discovery (MEES, 25 January 2013), other more recent Cyprus finds, and potentially Leviathan, which lies just 30km from Aphrodite, too. Cyprus’ current Energy Minister George Papanastasiou was quick to highlight Cyprus’ attractiveness during the ‘Cyprus Ga...
Volume: 66Issue: 41Published at Fri, 13 Oct 2023 -
Qatar Breaks Ground On Historic LNG Expansion Project
...mn t/y ceremony. Preparing to host the tournament was arguably the government’s key economic focus between 2011 and last year, and that focus has now shifted to the North Field Development. The North Field’s gas and NGLs (including condensate) alone routinely account for around 60% of Qatar’s total ex...
Volume: 66Issue: 40Published at Fri, 06 Oct 2023 -
Libya Gas Exports Slump To 12-Year Low As Domestic Use* Rises
...LIBYA'S 2023 GAS EXPORTS^ ARE RIVALLING 2022 FOR THE LOWEST FIGURE SINCE THE 2011 REVOLUTION... ...WITH VOLUMES FOR Q3 2023 FALLING WELL BELOW EVEN 2022 LEVELS (MN CFD) *NOC DATA IMPLY THAT CONSUMPTION HAS AVERAGED JUST OVER 1BN CFD SO FAR THIS YEAR, UP FROM 902MN CFD FO...
Volume: 66Issue: 40Published at Fri, 06 Oct 2023 -
Egypt’s Stretched Finances Boosted By Record Suez Canal & LNG Revenues
...untries,” the CBE says. 1: EGYPT'S TRADE BALANCE: 2021-22 SAW A RECORD $43BN DEFICIT DESPITE THE FIRST OIL & GAS SURPLUS SINCE 2011 SOURCE: CBE. MEES. 2: EGYPT’S SERVICES BALANCE: RECORD SUEZ CANAL REVENUES & DOUBLING IN TOURISM RECEIPTS ENABLED EGYPT TO NOTCH UP A 3-YEAR HI...
Volume: 65Issue: 41Published at Fri, 14 Oct 2022 -
Kais Saied’s Tunisia: Where Is It Headed?
...ndemic (MEES, 24 July 2020). Finances appear to be on the verge of collapse. Public debt has soared since the 2011 revolution (see chart 1), but Tunisia has little to show for it (MEES, 18 December 2020). Interest payments alone will eat up some 11% of projected government revenues this year, ac...
Volume: 64Issue: 43Published at Fri, 29 Oct 2021 -
Russia’s Tatneft Returns To Libya
...Tatneft is drilling an appraisal well it was forced to abandon in 2011. The firm also has development plans for existing discoveries, but will the country’s current calm last? Russian oil firm Tatneft has finally restarted drilling operations in Libya, more than a decade after fleeing the co...
Volume: 64Issue: 42Published at Fri, 22 Oct 2021 -
Riyadh, Cairo Sign $1.8bn Power Connection Deals
...ows have fallen well below their 2011-12 peak. Electricity sent to Jordan was down 12% year on year at 278GWh for 2019-20, an implied average flow of just 32MW, while that received from Jordan was up 36% to 95GWh, according to the latest stats from Egypt’s Electricity Holding Company (EEHC). Flows to Li...
Volume: 64Issue: 40Published at Fri, 08 Oct 2021 -
Petrofac Hopes To Turn Page After UK Bribery Conviction
...UK-based services firm Petrofac is hoping to put a scandal-riven few years behind it after a UK court on 4 October found it guilty on seven counts of bribery involving payments of $44mn to secure $3.5bn of contracts in Gulf countries between 2011 and 2017. In a case brought by the UK’s Se...
Volume: 64Issue: 40Published at Fri, 08 Oct 2021 -
Egypt LNG: Exporting, For Now
...ace for cargoes to be produced in Q4 2021 and onwards.” Since Damietta restarted in February the facility has shipped 1.84mn tons of LNG (MEES, 26 February). This is the highest figure since 2011, the year before the plant was mothballed. Meanwhile, Idku has six remaining ‘commitment’ cargoes se...
Volume: 64Issue: 40Published at Fri, 08 Oct 2021 -
Wintershall Libya Now SOO
...oduction has been shut in since January. Output from the ‘Wintershall’ acreage was around 100,000 b/d prior to Libya’s 2011 revolution but has rarely topped 50,000 b/d since. Overall Libyan production has rebounded strongly since key export terminals were reopened last month. Output had risen to 68...
Volume: 63Issue: 44Published at Fri, 30 Oct 2020 -
Korea Crude Imports 6-Year Low, Taiwan Lowest In Decades
...65mn b/d (see table, p8). For Taiwan, Q3 imports of just 701,000 b/d were further down on the multi-decade low of 721,000 b/d set the previous quarter (see table). At 760,000 b/d for the first nine months of 2020, volumes are on track to come in below 2011’s 774,000 b/d as the lowest annual figure this mi...
Volume: 63Issue: 42Published at Fri, 16 Oct 2020 -
Turkey’s East Med Drilling Campaign: Politics By Other Means
...illships and seismic vessels, TPAO had little experience of going it alone. All of its prior offshore exploration efforts were with international partners and none turned up commercial discoveries (MEES, 21 November 2011). You have to start somewhere, but TPAO’s lack of expertise doesn’t point to an ef...
Volume: 63Issue: 41Published at Fri, 09 Oct 2020