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Kuwait Crude Oil Capacity Rises To 14-Year High
...ES, 18 July). Having achieved this mark, capacity now stands at its highest level since 2011’s 3.26mn b/d. It has increased by a substantial 470,000 b/d since its low-water mark of 2.73mn b/d in 2021 thanks to a combination of KOC gains and gradual increases from the PNZ following its restart in 20...
Volume: 68Issue: 39Published at Fri, 26 Sep 2025 -
Cyprus, Egypt Discuss LNG Exports From 2027
...prus and Exxon in April in Houston touched on development options for the US firm’s discoveries utilizing potential “synergies with companies that operate neighboring fields” (MEES, 18 April). In stark contrast to Cronos, Aphrodite was discovered nearly 14 years ago in December 2011, but following nu...
Volume: 68Issue: 37Published at Fri, 12 Sep 2025 -
Cyprus’ Aphrodite: Development At Last?
...A development plan, set to be filed by end-2022, would see tie-back to under-utilized processing facilities on Egypt’s Mediterranean coast. Comments from Yossi Abu, CEO of Israel’s NewMed Energy, on his firm’s recent Q2 earnings call give the clearest signal yet the partners in Cyprus’ 2011...
Volume: 65Issue: 36Published at Fri, 09 Sep 2022 -
Libya’s NOC Advances Go-It-Alone 16,000 b/d Erawin Development
...forts to boost output from 1.3mn b/d to 2.1mn b/d (MEES, 11 June). Political instability, a lack of funding and weak security continue to present huge risks (see p14). Ten years of near-continuous chaos since Libya’s 2011 revolution, have deterred NOC’s key foreign upstream partners from sa...
Volume: 64Issue: 36Published at Fri, 10 Sep 2021 -
EOG To Bring ‘Unconventional’ Know-How To Oman’s Upstream
...ll to be drilled was Hayah-1, but shortly after that came up dry in 2016 (see map, MEES, 27 May 2016), operator DNO chose to walk away. That left Apex, a small private firm out of Alberta, with a 100% stake at the asset which it was originally awarded in September 2011. Apex kept the faith. Ac...
Volume: 63Issue: 39Published at Fri, 25 Sep 2020 -
Chinese Takeover For Cash-Strapped Kuwait Energy
...ergy (KEC)—a Bahrain-headquartered privately-held firm whose financial struggles have hampered development of its promising portfolio. The deal would be UEG’s second largest to date since entering the upstream sector via the 2011 acquisition of BP’s Pakistan assets for $775mn. Pakistan accounted for al...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Abu Dhabi Plots $3bn Windfall From Cepsa IPO: What’s For Sale?
...plying that Abu Dhabi can expect to raise just under $3bn for a 25% stake. Cepsa plans to triple its value by 2030. The latest valuation represents a modest premium to the implied €7.5bn valuation when Abu Dhabi state investment firm IPIC assumed full control of the company in 2011, paying €3.97bn fo...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Qatar Secures New Long Term LNG Sales Deal With China
...s 7.8mn t/y capacity (see table). This is PetroChina’s second LNG import deal with Qatar, supplementing another lengthy contract to purchase 3mn t/y from 2011-2036. That agreement is for volumes from Qatargas-4 (QP 70%, Shell 30%). Fellow state firm CNOOC also has a long term deal, for 2mn t/y fr...
Volume: 61Issue: 37Published at Fri, 14 Sep 2018 -
Petronas Quits Algeria As Cepsa Expands
...lays, but is due to come on stream in February 2018 (MEES, 25 August), with production of 1.6 bcm a year (155mn cfd). In 2011 Cepsa was awarded the Rhourde Rouni II exploration block, also in the Berkine basin and to the northeast of the RKF field. Petronas competed unsuccessfully for the co...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
Tunisia: Output Slides, Firms Look For The Door Amid Instability
...e January 2011 ‘revolution’ that kicked off the Arab Spring. In many ways Tunisia’s experiment in democracy has been an admirable success – certainly compared to its neighbors Libya and Egypt. But not in terms of oil and gas output. The frequency and intensity of strikes has got worse this year. Ga...
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
Libya’s Wealth Fund In Leadership Showdown
...rsue legal cases on behalf of the LIA, but no power to transfer or dispose of LIA assets. In practice this is academic as the funds are largely frozen under UN sanctions imposed in 2011. According to a 2012 audit by Deloitte, the LIA has holdings estimated at $67bn. The establishment of the st...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
Kuwait Seeks IOC Help To Hit Production Targets
...servoir at Burgan. A pilot program completed in 2011 yielded an encouraging boost in pressure and reduced water cut; during the first phase of development, KOC will inject 660,000 b/d of water as part of its plan to maintain production capacity at Burgan. Water injection will rise to 1mn b/d by 2020. KO...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
Company Profile: Petroceltic Plots Big League Transformation
...ave the firm with around 38%; it will remain as operator), Italian power firm Enel bought 18.375% from Petroceltic in 2011, whilst state firm Sonatrach has 25%. With the aim of beefing up its ‘Ain Tsila team’ Petroceltic on 16 September appointed Ian Craig to chair Petroceltic’s Ain Tsila pr...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Citadel Seeks More Capital
...ctor for managing to hold funding for the project together in the wake of Egypt’s 2011 Revolution as other investors pulled out (MEES, 6 February, 2012). In addition, the company’s key planned new investment is in Egyptian LNG import and re-gasification. But its bid to hire floating storage an...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
BG Takes Further Egypt Hit; BP Upbeat On Drilling Success
...scoveries for both 2011 and 2012 were on offshore east Nile Delta acreage that BP (50% and operator) shares with Eni (50%). On North El Burg, discoveries included the Satis deep Oligocene discovery (MEES, 31 October 2011), whilst on the neighboring Ras El Bar concession BP and Eni had ramped up production to...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Egypt Draws Up IOC Payment Timetable As Debts Mount
...are of production are nothing new, but amounts owed have ballooned since Egypt’s 2011 revolution. Mr Isma’il acknowledged that the issue of arrears was a top priority for the government to ensure that IOCs would continue to invest in oil exploration and development. The minister di...
Volume: 56Issue: 36Published at Fri, 06 Sep 2013 -
Edison Secures $590mn Discount On RasGas LNG Supplies
...aly's offshore regasification terminal in Rovigo (MEES, 1 August 2011). RasGas also supplies Belgium's Distrigas (2.07mn t/y for 20 years), Spain's Endesa (0.8mn t/y for 20 years) and the trading wing of France’s EDF (up to 3.4mn t/y for 4.5 years). RasGas ‘Resilient’ In a statement re...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012 -
MOL Looks To KRG And Oman To Fuel Output Growth
...L enjoys “excellent cooperation” with the authorities, Mr Tatai says. This cooperation is no doubt smoothed by the fact that the Oman Oil Company acquired 7% of MOL in 2008 within the framework of a strategic partnership between the two companies. Fifty percent of MOL’s $3bn 2011 ea...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
Vegas Starts Egypt Production
...eady” at around nine months. But the fact that the company has rapidly ramped up production means the sum outstanding has continued to mount, hitting a whopping $214mn by the end of June, MEES understands. TransGlobe has collected $135mn from EGPC since January 2011, including $57m for the fi...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012