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Oman Eyes $110Bn Upstream Investment
...d will gradually ramp up to 40,000 b/d. Harweel, which came on stream in the second quarter of this year, is producing 25,000 b/d and ramping up. At more than 70,000 b/d, Marmul achieved in 2011 its highest production in its 30-year history. While these projects suffered start-up delays, PDO was ab...
Volume: 55Issue: 36Published at Mon, 03 Sep 2012 -
Saudi Aramco ‘Restores’ Order After Virus. RasGas Also Hit
...itical production and exploration systems as “isolated networks”. Nevertheless, 30,000 impacted workstations (Saudi Aramco’s 2011 Annual Report gives a total staffing of 56,066) is no minor issue for a company whose operational integrity is so central to both Saudi Arabia’s and the global economy’s we...
Volume: 55Issue: 36Published at Mon, 03 Sep 2012 -
Iraqi Output Set For Fresh Records But Challenges Pile Up
...479 0.413 1.892 3.390 0.963 4.353 52.238 75.63 2011 Avg 1.711 0.455 2....
Volume: 55Issue: 36Published at Mon, 03 Sep 2012 -
Libyan Rebels Eye Formation Of Interim Cabinet
...tities frozen as of 16 September 2011 remain frozen, but they are no longer subject to prohibitions and can therefore conduct new transactions. Resolution 2009 (2011) directs the UN Sanctions Committee, in consultation with the Libyan authorities, to review continuously the remaining sanctions for the CB...
Volume: 54Issue: 39Published at Mon, 26 Sep 2011 -
Turkey Reacts As Noble Starts Drilling Offshore Cyprus
...art of drilling has no connection with the long running talks between the two sides. It instead marks the next phase of the Cyprus/Noble PSA, which stipulated that a well be drilled by October 2011. The latest phase of the contract was signed in Nicosia prior to the start of drilling. In New York Mr...
Volume: 54Issue: 39Published at Mon, 26 Sep 2011 -
Bankers Shrug Off Downturn To Finance Qatar’s $10Bn Barzan Gas/NGL Project
...w pricing Saudi’s Satorp secured last year. Barzan will boost the country’s already climbing NGL output – which will include 500,000 b/d of condensate and 10.7mn tons/year of LPG by the end of 2011. It will start up in 2014 and ramp up to 100,000 b/d of condensate. The $7.2bn debt financing fo...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
KRG Crude Exports Interrupted As Irbil/Baghdad Tensions Rise
...provide 100,000 b/d to the federal treasury – a contribution needed for the 2011 budget. In return, the KRG would receive around half the revenues to pay oil investors their costs. KRG crude exports rose sharply, hitting 175,000 b/d in June before declining in both July and August (MEES, 12 Se...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Gulf Condensate And Naphtha Exports To Increase
...ndensate and naphtha exports – despite Iran’s gas projects almost grinding to a halt – according to a report by Asia Pacific Energy Consulting (APEC). APEC’s report, Condensate East of Suez 2011 – NGL Impacts on the Light-End Balances, also says Gulf condensate prices are increasingly being de...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011 -
Iraqi Hydrocarbon Tensions Ratchet Up
...ditional statement that high oil prices had enabled exports in the first seven months of the year to cover the entire 2011 budget needs, “which indicates that Iraq can achieve a high surplus.” Nevertheless any fall in oil price or let-up in the current intense rates of southern loadings could well br...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
Kuwait Increases LNG Imports And Fuel Oil Exports
...the first eight months of 2011 compared to the same period last year, and looks set to continue imports into November – a month beyond its contracts with Shell and Vitol to provide cargoes until October. A KPC source says Kuwait’s Committee to study building permanent LNG import facilities ha...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
BP Eyes Expansion Of 1Bn CFD Oman Gas Project
...ird quarter 2011, due to a delay in starting up the EWT and the need to await results from a second horizontal well. BP will submit the field development plan to the government by the end of the first quarter 2012. It will then go to tender for engineering procurement and construction (EPC) co...
Volume: 54Issue: 37Published at Mon, 12 Sep 2011 -
LNG Market Over-Reacts To Qatari Plant Closures
...op in European demand. Mr Bros says: “There is loads of Russian gas – each month in 2011 it exported more to Europe than in the same month last year.” Gas demand is down in Europe – in the first seven months it was down 9% on the year before. “I think it will be down 6% this year by year-end co...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
Kuwait Launches Four-Year Economic Revamp
...e 2010-11 budget (1 April 2010 to 31 March 2011) published by the government in August hikes spending by 34.6% from the previous year to KD15.7bn ($54.9bn – see tables). It falls short of the record KD19bn ($66.4bn) allocated in the 2008-09 budget, but that increase had focused on areas that do not st...
Volume: 53Issue: 39Published at Mon, 27 Sep 2010 -
Saudi Aramco Poised For Next Stage Of Downstream Expansion Drive
...pansion. Bids for construction of the 2.5bn cfd Wasit gas plant, which will produce around 1.8bn cfd of sales gas from the offshore Hasbah and 'Arabiyah fields, are due in by end-October, with award expected by February/March 2011, contractors say. Meanwhile, bids for construction of a gas treatment and NG...
Volume: 53Issue: 39Published at Mon, 27 Sep 2010 -
Region Needs $70Bn Investment Over 10 Years To Avoid Power Crisis
...ternative energy research to importing coal. Qatar To Export Electricity, Plans $1Bn Solar Center Qatar, the only Gulf country to have surplus gas and electricity, plans to boost its power production to more than 8.707gw by 2011, from 4.263gw at the end of the second quarter of 2008, according to Qatar’s ge...
Volume: 53Issue: 39Published at Mon, 27 Sep 2010 -
Saudi Arabia Proposes Record Breaking Arms Deal With US
...dernize hardware and need to counter any insurgents from Yemen. “This will push the defense budget higher in 2010 and 2011, in absolute and percent terms,” he predicts. At this stage it is uncertain when spending on the US deal will kick in....
Volume: 53Issue: 38Published at Mon, 20 Sep 2010 -
Vegas And Shell Ramping Up Egyptian Production
...producing at 1,100 b/d. Subject to state owned Egypt Gas Petroleum Company (EGPC) approval, Vegas will implement a full field development plan in 2011. The consortium has invested almost $100mn in exploration, appraisal and development. The commercial feasibility of producing gas is being reviewed an...
Volume: 53Issue: 38Published at Mon, 20 Sep 2010 -
Multi-Billion Dollar Financing Proposal Boosts Nabucco Project
...ch agency, Nabucco said. Soon after, ECAs and international banks are expected to commence their due diligence, with commitments from potential lenders being sought in 2011 and the wrapping up of the entire financing package planned for the second half of 2011, said Nabucco. However, some financiers su...
Volume: 53Issue: 37Published at Mon, 13 Sep 2010 -
Egypt Courts More Hydrocarbons Investment
...ned affiliate Ieoc, with the remainder owned by Lukoil (24%) and Mitsui (20%). Agiba, a joint operating company owned equally by Ieoc and EGPC, is the operator. Agiba plans to ramp up production via four more wells in 2010 and 2011, to 3,000 b/d of oil equivalent (boed). It is part of Eni’s strategy to...
Volume: 53Issue: 37Published at Mon, 13 Sep 2010 -
OPEC Sees Uncertain 2H10 Demand, Eases Output In August
...en downgraded by 100,000 b/d for both 2010 and 2011. Stocks continue to rise, weighing on the market, the MOMR noted. US commercial stocks are at their highest level since January 1993. And “at 361.7mn barrels, US crude oil stocks continued their contra-seasonal build to reach the highest level si...
Volume: 53Issue: 37Published at Mon, 13 Sep 2010