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Libya’s North Hamada: Development At Last?
...ree wells in 2014 which were all successful, leading the government to declare second commerciality for structures B, C and J. By this time, Nafusah Oil Operations was set up consisting of Medco (25%op), LIA (25%) and NOC (50%) to handle development. Development plans are based on 2P reserves of 245mn ba...
Volume: 62Issue: 22Published at Fri, 31 May 2019 -
Tunisia Struggles To Halt Oil And Gas Decline
...ble). In theory an FPSO development here was slated to produce 15,000 b/d. In practice development was already long-stalled when Medco bought the assets for $128mn in 2014 (MEES, 29 August 2014). Medco says nothing on a buyer or price. But for sure the firm is making a hefty loss. The firm’s freshly-re...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Adnoc Eyes Unconventional Riches As It Launches Second Bid Round
...rge new ones. The firm has broadened its partner-base considerably since 2014 as it replaced expiring multi-decade concessions. Last year’s bid round saw existing partners secure further acreage, but Thailand’s PTT was the only new partner brought in to the emirate. Previously Adnoc officials have fl...
Volume: 62Issue: 18Published at Fri, 03 May 2019 -
Qatar Invites EPC Bids For LNG Expansion
...ile Qatar is looking to bring IOCs in as partners – as is the case at the existing LNG facilities – QP is willing and able to proceed unilaterally if required (MEES, 19 October 2018). Since his appointment heading up QP in 2014 (MEES, 19 September 2014), Mr Kaabi has tightened commercial terms for IO...
Volume: 62Issue: 16Published at Fri, 19 Apr 2019 -
QP Enters Argentina
...sets, this covers blocks in Mexico and Brazil. Indeed, Brazil is a rare source of international production for QP. It has had a 24% stake in Shell’s 50% operated BC-10 deepwater block since 2014 which can produce around 98,000 boe/d (mostly oil). The latest Argentina move is in keeping with QP’s ef...
Volume: 62Issue: 16Published at Fri, 19 Apr 2019 -
MEES Interview With Iraq Oil Minister Thamir al-Ghadhban
...ere the contractor takes the full commitment for investment with a grace period to the host country and so on. They are a burden, especially when the price of oil is low, as we have faced since 2014, and for three or four years we suffered a lot. The budget was severely hit because of this commitment. Th...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Iraq Plans Major Pipeline Revamp To Enhance Export Flexibility
...ditha to Jordan’s Aqaba port, as well as a 160,000 b/d spur line to Jordan’s Zarqa refinery (MEES, 21 November 2014). The Basra-Haditha portion was to be constructed under an EPC contract, while Haditha-Aqaba would be under a build-own-operate-transfer (BOOT) deal. The government was wary of fi...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Egypt ‘Zohrs’ Past Libya As Eni’s Top Gas Producer
...ipem 10000’ drillship which remains under contract at Zohr until well into the 2020s. Eni sees Zohr as the key global example of the ‘Dual Exploration Model’ it has put at the heart of its global upstream strategy since the 2014-15 oil price (and capex) collapse. This model seeks to minimize up...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Egypt Cuts Receivables Bill Amid Arbitration Threat
...diterranean blocks where the firm is planning on drilling two wells later this year and where Israeli firm Ratio Oil is in talks to take a stake (MEES, 22 March). UAE independent Dana Gas, on the other hand saw its receivables fall to $140mn at end-2018 down from $228mn a year earlier and a 2014 peak of $30...
Volume: 62Issue: 14Published at Fri, 05 Apr 2019 -
Shell Boosts Egypt Gas Output, Retains LNG Force Majeure
...llapse (see chart). Shell long stalled on new investment in Egypt due to a dispute over monies owed by state firm EGPC and the diversion of its gas output from LNG exports to the domestic market (MEES, 31 January 2014). But early last year it reversed course and sanctioned the 10-well Phase 9B de...
Volume: 62Issue: 11Published at Fri, 15 Mar 2019 -
Kuwait: IEA Pessimistic
...2024 at least. Stagnation is at least still better than the IEA’s pre-2016 projections when it routinely expected Kuwaiti capacity to trend downwards. In 2014, the organization said that due to political opposition to IOCs operating in the upstream sector, “capacity looks set to decline by 41...
Volume: 62Issue: 11Published at Fri, 15 Mar 2019 -
Tunisia’s Nawara Gas Project: Too Little Too Late?
...wara is set to add will only boost Tunisia’s overall output to around 250mn cfd – lower than it was in 2014 when FID was taken on Nawara (see chart 1). But make no mistake, the added volumes will provide much needed relief to Tunisia which in 2018 was reliant on 371mn cfd of imports from Algeria to me...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Iran’s South Pars Gas Development Edges Forward
...nganeh visited China for talks in late February, but doesn’t appear to have achieved any notable success. Deja vu given that Iran axed CNPC’s contract for South Azadegan in 2014 due to the firm’s slow progress during the previous round of US sanctions (MEES, 9 May 2014). When Total and CNPC signed up to...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Iraq: Gas Aims Progressing, But Miles Still To Go
...fining in a ministry shakeup (see p18). That Baghdad had previously targeted 2015 (MEES, 28 February 2014) for eliminating flaring is emblematic of the scale of the problem. A quick glance at the numbers shows the extent of the challenge. 1: IRAQ GAS OUTPUT EXCEEDS 3BN CFD IN SECOND HALF OF 2018, BU...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Egypt Bags Exxon As Shell Steps Up Commitment
...ill down on 2016’s 588mn cfd. Aside from WDDM, Shell eyes development of BG’s 2012 Harmattan Deep discovery in the shallow water just north of Damietta. Previous BG development plans were shelved amid a pricing dispute (MEES, 1 August 2014). Now Mr Hanter says “We have had very constructive di...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
Oxy Advances Mena Strategy 2.0
...work together on projects of strategic importance.” That’s not to say that the Shah gas development was all plain sailing, with startup slipping from 2014 to 2015 as the parties had to devise how to cope with the high sulfur levels. Once started up in 2015, the field was ramped up to full we...
Volume: 62Issue: 06Published at Fri, 08 Feb 2019 -
Algeria Oil Output On The Slide
...ng-term decline, collective output is the lowest since El Merk’s first full year of output in 2014 (see chart). At just 174,000 b/d for 2018, combined HBNS and Ourhoud output is half 2011 levels and a mere 31% of the 470,000 b/d 2007 figure. Anadarko says the completion of a water treatment pr...
Volume: 62Issue: 06Published at Fri, 08 Feb 2019 -
Tunisia’s Net Energy Imports Hit Record In 2018
...ovisional data) are far outweighed by 78,000 b/d of net products imports (see chart 5). When combined with fluctuations in oil prices this means the country’s net energy import bill hit a record $2.35bn for 2018, beating the previous record of $2.14bn set in 2014 (see chart 6). The $670mn (40%) in...
Volume: 62Issue: 05Published at Fri, 01 Feb 2019 -
Algeria: Gazprom Stalls On El Assel
...January, Russian energy minister Alexander Novak said Gazprom is preparing a commercial offer for development of the 2010 Rhourde Sayah (RSH) and 2014 Rhourde Sayah North (RSHN) discoveries but does not plan to participate in development of the Zemlet er Rekkeb (ZER) or Zemlet er Rekkeb North (ZE...
Volume: 62Issue: 05Published at Fri, 01 Feb 2019 -
Genel Farm-In Boosts Development Prospects At Chevron KRG Blocks
...uple of months before the first well was spudded. Sarta-1 tested at 1,000 b/d of heavy crude from the Jurassic reservoir. A second promising well, Sarta-2 was spudded in July 2013, but it was not enough to keep OMV onboard as the firm relinquished in early 2014 (MEES, 28 February 2014). Chevron was fo...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019