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East Med Gas Development: Hang Together Or Hang Separately
...quefaction plants. Aphrodite partner Shell has a stake in one of Egypt’s two LNG liquefaction plants, the 7.2mn tons/year ELNG plant at Idku, and Eni in the 5mn t/y Segas plant at Damietta. Meanwhile, Noble inked a provisional deal in June 2014 with BG (now Shell) to send 105bcm of Leviathan gas over 15 ye...
Volume: 60Issue: 40Published at Fri, 06 Oct 2017 -
BP Start-Up Of 1Bn Cfd Khazzan Field Gives 20% Boost To Oman Gas
...15 2015 2014 2013 Industry 15.94 -0.02 15.96 23...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Technical Service Contract Woes Continue To Haunt Iraq
...revising downwards the contractual production plateau targets for fields, but the essential TSC format remains unchanged (MEES, 12 June 2015). This series of alterations in 2014-15 brought the implied total 2020 target from key IOC fields down from 11mn b/d in 2009 to 7mn b/d. It fell further ea...
Volume: 60Issue: 38Published at Fri, 22 Sep 2017 -
East Med: Hope Despite Dry Cyprus Well, Lebanon Bid Round Deadline Delayed
...economic, especially since the oil price collapse in 2014 and the accompanying lower gas prices. By far the most active firm offshore Cyprus is Eni. The Italians have stakes in six of the seven blocks currently awarded, and are operator in four. In early August Eni said it would drill three wells ac...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
War-Torn Yemen Maintains Steady Crude Exports; China, Thailand The Key Buyers
...scale, renewed crude exports are providing an essential influx of revenue and liquidity to the embattled regime. Prior to the onset of the civil war between Houthi rebels and government forces in 2015, hydrocarbons provided 73% of export revenues according to IMF figures. Crude exports in 2014 re...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
Oman Looks To Bid Round For Exploration Boost
...ndered blocks appear less prospective. Block 43b was last operated by Hungary’s Mol which relinquished the 11,967km² block in 2014. A conventional gas play, previous owners combined have drilled only two wells with no discoveries. In Block 47, also mostly bordering open blocks, tight gas is expected to be...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
UAE Looks To Offshore Gas To Ease Growing LNG Addiction
...M) 2007 2008 2009 2010 2011 2012 2013 2014...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
Rig Count: Saudi Cuts Oil Drilling To 3-Year Low
...• Opec kingpin Saudi Arabia saw its rig count fall to a 30-month low of 115 in August; those targeting oil fell by four to 60, the lowest level since May 2014 (see chart 1). Saudi Arabia claims it is pressing ahead with ambitious long term plans to develop new output capacity, but the rig co...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
DNO Injects Fresh Momentum Into KRG Oil Sector With Acquisition
...jority city of Mosul. ExxonMobil suspended operations at the block on 7 August 2014, before force majeure was then imposed. Documents released by WikiLeaks show that ExxonMobil and TEC put estimated oil in place at 580mn barrels. Should Baeshiqa prove commercially viable, it ought to be a simple ma...
Volume: 60Issue: 36Published at Fri, 08 Sep 2017 -
Libya’s Oil Production Gains May Flatter To Deceive
...bya’s oil sector since late 2014 did not give much reason for hope. Prior to 2017, the last time that oil output had exceeded 600,000 b/d was in the first half of April 2015; the last time that it averaged more than 600,000 b/d over the course of a month was in November 2014. The figures for 2017 ha...
Volume: 60Issue: 33Published at Fri, 18 Aug 2017 -
Abu Dhabi Plans Further Offshore Reshuffling
...bmit a bid after the initial concession expired in 2014. Rosneft has sought to expand its regional presence of late (MEES, 16 June) and is also prequalified to bid for upstream contracts in Iran. ZAKUM CONSOLIDATION? No detail was provided as to how Adma will be divided, nor the rationale. But th...
Volume: 60Issue: 32Published at Fri, 11 Aug 2017 -
Egypt Oil Output: Apache Looks To Low Hanging Fruit For Output Rebound
...st couple of years. So a lot of low-hanging fruit that should help us with volumes and also with the ability to generate more free cash flow and also reinvest more,” he says. Apache’s most recent key Egypt output gains came in 2014 from the Ptah and Berenice fields in the Khalda Offset Permit in th...
Volume: 60Issue: 32Published at Fri, 11 Aug 2017 -
Offshore Exploration: What Chance Of A Rebound?
...azilian output is running at record levels, with the deepwater in June accounting for more than half of production for the first time (MEES, 4 August). But the exploration boom that led to this record output has tailed off: at 12 Brazil’s latest offshore rig count is less than half average 2014 le...
Volume: 60Issue: 32Published at Fri, 11 Aug 2017 -
Zohr Almost There As Egypt Plots Further Gas Gains
...velopment. To that end it has managed to reduce the money it owes the Italians in receivables from a whopping $1.64bn at the end of the first half of 2014 to just $354mn at the end of June this year. Egypt has even managed to pay off completely, receivables which were considered overdue. “The overdue am...
Volume: 60Issue: 31Published at Fri, 04 Aug 2017 -
Libya: Cautious Optimism With Output At 3-Year High
...Libya’s crude output hit 1mn b/d in July for the first time since 2014. IOCs hope for further gains – but continued instability means they aren’t banking on them. Most of the larger IOCs active in Libya continue to report headline production numbers ‘excluding Libya,’ even when, as has be...
Volume: 60Issue: 31Published at Fri, 04 Aug 2017 -
Total Shrugs Off Regional Tensions, Eyes Further Qatar Projects
...17 chg % 2Q16 2012 2013 2014 2015 2016 ME...
Volume: 60Issue: 30Published at Fri, 28 Jul 2017 -
Upstream Investment: Are Shortfall Fears Overblown?
...The IEA and others continue to flag up an investment ‘shortfall’ and supposed coming supply crunch. Are such worries overstated? Global upstream capex was $434bn in 2016, a multi-year low. This was down 25% from 2015 and 40% below the 2014 peak of $730bn, according to the IEA’s ‘World En...
Volume: 60Issue: 29Published at Fri, 21 Jul 2017 -
Algeria Re-Tenders 3.6bcm/y Ain Tsila Gas Development
...September 2014. In June 2015, Petroceltic was still bullish that the EPC award would be made by the end of the year: then Chairman Robert Adair flagged up a likely EPC award and the start of development drilling “before the end of 2015,” with progress here “the key determinants” of hitting the th...
Volume: 60Issue: 29Published at Fri, 21 Jul 2017 -
GCC States Double Down On Gas Development
...M) 2007 2008 2009 2010 2011 2012 2013 2014...
Volume: 60Issue: 28Published at Fri, 14 Jul 2017 -
Delayed Projects To Shave Cumulative 80bcm From Algeria’s Gas Output By 2020
...e SWGP, has been delayed even more than that of its neighbors. The field will join two other fields handed over to Sonatrach by IOCs in 2014-15 after a failure to agree terms: Hassi Ba Hamou and Hassi Mouina. The three fields together make up what is now being described as SWGP phase 2. Hassi Ba Ha...
Volume: 60Issue: 28Published at Fri, 14 Jul 2017