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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 -
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 -
Libya: Waha Expansion Inches Forward
...Projects to boost Libya’s long-term output have mostly been on hold since before the 2011 revolution. But plans by the Waha Oil Company (WOC) – grouping NOC (59.18%) with US firms ConocoPhillips (16.33%), Marathon (16.33%) and Hess (8.16%) – to boost capacity from its key Sirte Basin acreage be...
Volume: 62Issue: 43Published at Fri, 25 Oct 2019 -
NOC Eyes Russian Firms’ Return
...NOC sees its longer term output gains coming from new developments. But for this, it needs to persuade firms that have not been active in Libya since the 2011 war to return. On 5 October NOC all but announced Russia’s Tatneft had returned to Libya, welcoming “progress of seismic surveys be...
Volume: 62Issue: 41Published at Fri, 11 Oct 2019 -
Eni, Shell & OMV In Tunisia: Will They Stay Or Will They Go?
...llowing the 2011 revolution and brought online production from scratch. MAZARINE: SMALL FIRM, BIG PLANS Mazarine started its Tunisian operations (at the time its sole focus) in 2013, acquiring a 45% stake in the Zaafrane exploration permit in the southwest of the country. It struck oil there in 20...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Tunisia’s Upstream: Can It Emerge From A Lost Decade?
...Tunisia’s oil and gas output has been on a downward trajectory for almost a decade. Political instability unleashed following the 2011 revolution paralyzed the country’s upstream. But Industry Minister Slim Feriani has been battling to turn things around and is determined to see “the glass ha...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Egypt Gas Hub Ambitions Gather Pace
...ter peaking at 6.22bn cfd in December 2011, gas output dwindled as demand increased, falling to a nine-year low 3.89bn cfd in May 2016. The 2011 revolution played its part in scaring off investors, but it was unfavorably low gas prices paid by the state, growing dues to IOCs which ballooned to $6.4bn at...
Volume: 61Issue: 40Published at Fri, 05 Oct 2018 -
Libya Oil Output Boosted By Sirte Basin Rebound
...reign producer in Libya prior to the 2011 Revolution, its Q3 results on 26 October failed to include a breakdown of its operations there and an earnings call later the same day added no further detail. The firm’s Q3 results statement noted only that its overall “production volumes in exploration and pr...
Volume: 60Issue: 43Published at Fri, 27 Oct 2017 -
Medco Announces $180mn Impairment On Libya’s Area 47
...a DeGolyer and MacNaughton report in September 2008, gross contingent reserves in Area 47 are an estimated 703mn boe. In February 2011, Medco announced that it had temporarily halted exploration activities due to political instability. The company resumed operations on the Area 47 licence area in...
Volume: 60Issue: 43Published at Fri, 27 Oct 2017 -
Algeria’s Plans For Shale Gas Development Remain A Distant Hope
...gned a headline agreement with Italy’s Eni for shale gas development in April 2011, and other headline deals followed. The government held an international shale gas workshop in February 2012. But the government faces major local opposition to the development of shale. In 2015, efforts to start assessing ex...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Kuwait Gets Light Oil, Gas Boost Despite More Political Turbulence
...in reality. The Jurassic liquids were originally classified as condensates, but subsequently reclassified as light crude in order to help Kuwait hit its target of 4mn b/d crude production capacity by 2020 (MEES, 11 April 2011). Of this, 3.65mn b/d is slated to come from KOC, with the remainder fr...
Volume: 60Issue: 41Published at Fri, 13 Oct 2017 -
Egypt Gas Output Set To Hit 5-Year High By Year-End
...illing is planned before the end of the year (MEES, 18 August). Zohr’s discovery has been the catalyst in helping Cairo regain some of the trust from IOCs after receivables soared to $6bn-plus in 2013 amid economic meltdown after the country’s 2011 revolution. But Cairo is confident that its re...
Volume: 60Issue: 41Published at Fri, 13 Oct 2017 -
Iran Caspian Swap Shop
...ighboring Caspian countries (MEES, 14 November 2011). Oil swaps were developed in the 1990s to mutually benefit both parties: Iran would import oil from nearby Caspian countries to supply its northern refineries, thus averting the costlier transportation of Iranian crude from southern fields; the Caspian co...
Volume: 60Issue: 41Published at Fri, 13 Oct 2017 -
Tobruk Power Redux
...ised before an EPC contract begins, so further delay is likely. Turkey’s Enka Teknik has begun work to complete the 640MW Ubari power plant – also nominally gas-fired, but able to burn diesel – abandoned with Qadhafi’s 2011 ouster (MEES, 22 September)....
Volume: 60Issue: 41Published at Fri, 13 Oct 2017 -
East Med Gas Development: Hang Together Or Hang Separately
...diterranean deepwater. With the exception of Egypt’s 24 tcf Zohr, which has a hungry domestic market to sate, and Israel’s 10 tcf Tamar, which alone meets 55% of that country’s power demand, other finds – such as Cyprus’ 2011 5 tcf Aphrodite – have struggled to get anywhere near development. The jury remains ve...
Volume: 60Issue: 40Published at Fri, 06 Oct 2017 -
Cyprus Drilling Plans: Make Or Break?
...The next 15 months could be make or break for any hopes of discovering large quantities of gas offshore Cyprus beyond 2011’s 5 tcf Aphrodite, which currently looks stranded. Eni and ExxonMobil each plan two wells on their offshore Cyprus permits by end-2018 (see table). In the absence of di...
Volume: 60Issue: 40Published at Fri, 06 Oct 2017 -
Jordan: Opposition To Israel Gas Deal Strong But Ineffectual
...rged Egyptian gas was cut-off in 2011, its deficits were close to this $700mn figure, reflecting a state subsidy through debt. Despite the economic necessity, domestic politics weigh heavy and a letter of intent with almost identical terms that was signed in September 2014, was canned just over a ye...
Volume: 59Issue: 43Published at Fri, 28 Oct 2016 -
Libya Output Continues To Rise In Wake Of Renewed Sirte Basin Production
...pacted Waha capacity. The Hess report implied crude production potential of 270,000-275,000 b/d, in line with the highest quarterly output achieved since 2011 (269,000 b/d for both Q1 and Q2 2013). The consortium had planned to increase capacity on the Waha fields to 500,000-600,000 boe/d by the de...
Volume: 59Issue: 42Published at Fri, 21 Oct 2016 -
South Sudan Mortgages Future Oil Output
...l sales in South Sudan since independence in July 2011. Between them, the two companies accounted for 11.4mn barrels of the 14mn barrels of crude marketed by the government in the first half of 2015 – more than 80% of the total. PRE-FINANCING PRECEDENT This is not the first time that Tr...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015