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Libya Exploration Picks up as Sonatrach Resumes Drilling After 10 Years
...p). The firm this month resumed exploration activity at well 1A-96/2 in Areas 95-96, where Sonatrach had made several gas discoveries in 2013 (MEES, 13 September 2013). Sonatrach began drilling at well 1A-96/2 in April 2014, reaching a depth of 8,090 feet (2,465 meters), only to halt operations an...
Volume: 68Issue: 43Published at Fri, 24 Oct 2025 -
PDO Oil Output Rises To 70% Of Oman’s Total
...chniques (EOR) across its portfolio. Back in 2014, 66% of its oil production came from primary production techniques, but that balance has now flipped, with PDO expecting that 64% of its production this year will rely on water injection and EOR. OTHER OUTPUT SLUMPS PDO has managed to in...
Volume: 68Issue: 41Published at Fri, 10 Oct 2025 -
BP/Adnoc Deal For Israel’s NewMed Under Threat
...inked in 2014 between Woodside and NewMed (Delek Drilling at the time) for a 25% of Leviathan fell apart just hours before it was due to be inked due to reported clashes between the Australian firm’s hierarchy and Mr Tshuva (MEES, 23 May 2014). BP and Adnoc will not be expecting to take full co...
Volume: 66Issue: 40Published at Fri, 06 Oct 2023 -
Israel’s New Med: Leviathan Expansion ‘First Priority’
...sis this is a very viable option.” While FLNG is a relatively-new technology, increasing the risk of delays, Mr Abu says that the Leviathan partners are confident of the technology, having “started to analyze that in 2013, 2014.” This is a reference to talks the Leviathan partners held with Au...
Volume: 65Issue: 40Published at Fri, 07 Oct 2022 -
Russia’s Tatneft Returns To Libya
...’, as well as three onshore blocks in the Ghadames Basin known as ‘Area 64’. Another potential returnee is Polish state oil firm PGNiG which was forced to cut short an exploration program on its Area 113 concession in 2014 and had appeared to be on the cusp of exiting the country co...
Volume: 64Issue: 42Published at Fri, 22 Oct 2021 -
Shell Shifts Egypt Focus To ‘Integrated Gas’
...e start the firm would – like fellow majors BP and Eni, the other key players off Egypt – have taken more of a long-term view rather than downing tools in response to payment delays. Indeed, whilst BG (and subsequently Shell) blamed EGPC for the collapse in output and the halting from 2014 of LNG ex...
Volume: 62Issue: 43Published at Fri, 25 Oct 2019 -
Services Firms: Mideast Growth Picks Up, But US Slows
...-track to have mobilized 25 rigs by the end of the year.” This is certainly a boost for the kingdom as its rig count has averaged 115 during the first nine months of 2018, the lowest since 2014. Mideast revenue gains were “partially offset by lower hydraulic fracturing activity as a major contract wa...
Volume: 61Issue: 43Published at Fri, 26 Oct 2018 -
Upstream Costs: Can Services Firms Get Majors To Split The ‘Rent’?
...Global oilfield services firms say their margins have to rise. Majors are adamant they will keep down costs. Can the circle be squared? The collapse in oil prices from the second half of 2014 led majors to take an ax to what they acknowledge had been bloated capex budgets. From $196bn in 20...
Volume: 61Issue: 43Published at Fri, 26 Oct 2018 -
Qatar Petroleum To Replace Oxy At Key Offshore Field
...da as energy minister and QP chairman in 2011 (MEES, 21 February 2011) and has accelerated since Mr Kaabi’s appointment in September 2014 (MEES, 19 September 2014). When Total’s PSA for the 25,000 b/d Al-Khalij expired in 2014 the structure was replaced with a joint venture agreement (QP 60%, To...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Total Signs Up For Algeria Expansion
...ovisionally slated for 2019 will be keenly watched to see if the reforms have been enough to attract new investors. The previous bid round, from more than four years ago, was an almost-total flop (MEES, 3 October 2014). Sonatrach’s exploration model tends to consist of racking up the discoveries first and wo...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Middle East Remains Important Segment In Services Firms’ Portfolio
...rth America operations and Q3 saw its share of overall revenue hit 58.1%, posting revenue of $3.16bn. Middle East and Asia revenue rose to $1.03bn from $1bn in the previous quarter, but its share dropped from 20.2% to 18.9%, the lowest since the fourth quarter of 2014. The Middle East remains Ha...
Volume: 60Issue: 43Published at Fri, 27 Oct 2017 -
Green Shoots Begin To Emerge As Oilfield Service Firms See Signs Of Revival
...15 3Q16 $bn % $bn % 2Q16 3Q15 2014...
Volume: 59Issue: 43Published at Fri, 28 Oct 2016 -
Iran Opens Pre-Qualification For Upstream Tenders
...mpanies from France, Japan, China and Russia have said they will bid according to the state-owned Fars News Agency (FNA). This will include Total, which has an MoU to appraise the field. State-owned China National Petroleum Corporation (CNPC) had been awarded the field in 2009, but was removed in 2014 ow...
Volume: 59Issue: 42Published at Fri, 21 Oct 2016 -
Shell Restarts LNG Exports From Gas-Strapped & Cash-Strapped Egypt
...ell, says ELNG exports all but ground to a halt in early 2014 with output from its offshore West Delta Deep Marine (WDDM) fields to the domestic market amid a growing gas shortage (MEES, 31 January 2014). This left a gaping hole in ELNG’s finances. Shell and its partners remain on the hook for $20...
Volume: 59Issue: 40Published at Fri, 07 Oct 2016 -
Occidental To Focus On ‘Core’ MENA Assets
...ross the Middle East in 2014 – including in the UAE and Oman (MEES, 6 March). The US mini-major will now look to raise approximately $600mn from the sale of acreage in the US Bakken formation’s Williston Basin, CEO Stephen Chazen says. This would make Oxy one of the largest operators to pull out of the Ba...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
Mideast Revenues Prop Up Oilfield Services Giants
...s seen its revenue drop every quarter since the turn of the year. But the Middle East, where investment by state oil firms has largely held up, has been one bright spot. The four firms overall saw the share of their revenue coming from the Middle East and Asia rise from around 20% in Q4 2014 to ar...
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
Keystone Keeps Wolf From The Door With New KRG Payment
...rway’s DNO and its partners in the 150,000 b/d Tawke field, and London-listed Genel and its partners at 130,000 b/d Taq Taq (MEES, 11 September). Previous similar payments were in December 2014. GKP, under pressure from the KRG, from mid-September agreed to export all of its 40,000 b/d production via th...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Oil Services Sector To Cut More Jobs Amid Oil Price Squeeze
...added he expects smaller firms to merge as a direct response to the “industry downturn”. Oil prices are down by more than 50% from their mid-2014 peak of around $110/B (for Brent), with the steepest fall taking place in the last two months of 2014. IOCs took some time to slash their capital sp...
Volume: 58Issue: 41Published at Fri, 09 Oct 2015 -
Egypt: New Ganope Bid Round
...l production. On 3 August the firm awarded five of the 10 blocks on offer in its 2014 bid round with total commitments for $100mn to drill 16 wells. Three of the awarded blocks were for well-worked acreage in the southern Gulf of Suez, while Houston-based IPR took both Western Desert blocks (ME...
Volume: 58Issue: 41Published at Fri, 09 Oct 2015 -
Egypt Partners Up With Kuwait Energy For First Foreign Exploration Venture
...mand turn the country into a net energy importer from an energy exporter (see p7). The deal leaves Egypt with a 10% stake in the license in southern Iraq. KEC, which operates Block 9 with 60%, reported its second discovery on the asset in December 2014, this time in the Yamama formation which te...
Volume: 58Issue: 40Published at Fri, 02 Oct 2015