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Tunisia’s Upstream: Can It Emerge From A Lost Decade?
...nce summer 2017 when strikes knocked out a slew of output in the deep south (MEES, 2 June 2017). Gas output at 182mn cfd up to August is an 11-year low. Barring an end-year miracle, Tunisia will see another fall in its oil and gas output for 2019. Why has this happened? “It is a combination of na...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Dana Gas Egypt Asset Sale: Can It Garner Interest?
...gust). “If there is a time to start doing some portfolio management, now is a very good time to do it,” Mr Allman-Ward says. Why Dana would want to put all its eggs in the KRG basket is less clear: it is only two years since it settled a major legal dispute with Iraqi Kurdistan (MEES, 1 September 2017...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
KRG Gas: Key Producer Eyes Alternatives To Rosneft’s Stalled Turkey Pipeline
...Dana Gas says Pearl could build 100km pipeline to Turkey border itself. Stalled development of a gas export pipeline from Iraqi Kurdistan to Turkey is forcing the region’s key gas developer to look at alternatives. A pipeline to Turkey was to have been built by next year under a September 2017...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Iraq Exports Record Crude In Q3 Despite Opec Deal
...tably stable so far in 2019 hovering either side of $20bn, in contrast to the previous year when the range was a much broader $4.2bn, and indeed 2017’s $4.7bn. Overall, absent a much greater than expected drop in federal crude export volumes, annual exports ought to rise for the sixth consecutive ye...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Libya’s NOC Looks To Take Development Inhouse With New Zallaf Subsidiary
...ncession, Occidental is gone (MEES, 10 February 2017), while Marathon announced it sold its Waha stake to Total in 2018 – though this is still disputed by NOC (MEES, 5 April). THE OIL CURSE Oil and gas revenues account for more than 90% of the country’s income. In 2018, these came in at...
Volume: 62Issue: 38Published at Fri, 20 Sep 2019 -
Russia’s Stroytransgaz Bags Iraq E&P Deal
...s Block 12 in Muthanna province. Rosneft acquired the block through its controversial takeover of operator Bashneft in 2017. Russia, and in particular Stroytransgaz, is also picking up upstream assets in eastern Syria, which Anbar province borders. Stroytransgaz will be keen to replicate its co...
Volume: 62Issue: 36Published at Fri, 06 Sep 2019 -
Russians Grab Syria Acreage
...portant backer of the government in Syria’s eight year civil war, and now aims to secure repayment. It is widely expected to win lucrative contracts as Syrian President Bashar al-Assad looks to rebuild the economy (MEES, 22 December 2017). Russia’s Stroytransgaz, which was awarded acreage in Iraq this we...
Volume: 62Issue: 36Published at Fri, 06 Sep 2019 -
Egypt: Key Oil JVs Plan Output Hike
...nuary and July this year, the highest since late 2017: but this is still 27% below 2010 levels. One of the key producers in the region is BP, via its Gupco operations. These are in the process of being taken over by Dragon Oil, a subsidiary of Dubai state firm Enoc, in a deal worth an estimated $500mn (ME...
Volume: 62Issue: 36Published at Fri, 06 Sep 2019 -
Algeria’s Gas Projects: Playing Catch-Up
...me Algeria hit that record, none of the three projects that comprise SWGP had come online. The Repsol-led 2.9bcm/y Reggane Nord started-up in late 2017 and Total’s 1.8bcm/y Timimoun tight-gas project in early 2018. The largest element, the 4.5bcm/y Neptune Energy-operated Touat project, was on the cu...
Volume: 62Issue: 36Published at Fri, 06 Sep 2019 -
BP, Shell Step Up Egypt Offshore Action
...the east. At North Damietta’s Atoll field, BP plans to drill a fourth development well in 1Q 2020 hiking output from 300mn cfd to 400mn cfd. Discovered in 2015, ‘Phase-1’ Atoll output began in December 2017. Development is also ongoing at the nearby Qattameya field, discovered in March 2017...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Algeria Touat: Imminent
...mpleted in 2016 (MEES, 25 August 2017). The Touat delay has forced Neptune to revise down its overall net output guidance for the year to 150-155,000 boe/d from 155,000 boe/d targeted in its Q1 results. Neptune’s 35% project stake will give it “around 16,000 boe/d net production at plateau,” a level th...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Iraq In Line For Offshore Pipeline Overhaul
...ys the deal involves replacing two existing pipelines. The first supplies the ancient Khor al-Amaya oil terminal (KAAOT; 600,000 b/d) which has remained closed since 2017 due to leakage in the 48-inch pipeline. The second reported pipeline is one “operating at partial capacity to ship crude to the Ba...
Volume: 62Issue: 33Published at Fri, 16 Aug 2019 -
Kurdistan’s Shaky Outlook For Gas Exports
...The Kurdistan Regional Government (KRG) of Iraq has ambitious gas export plans. In 2017 it signed up Russian state firm Rosneft to construct a 30bcm/year pipeline to supply Turkey with gas by 2020 (MEES, 22 September 2017). But there is little sign of any progress on expanding the existing pi...
Volume: 62Issue: 32Published at Fri, 09 Aug 2019 -
Egypt Falls Further Behind Oil Output Plan
...ntinue, at least in the short term as Apache slashes spending. Apache’s spending in Egypt was reduced to $107mn (including Chinese state firm Sinopec’s 1/3 stake in Apache Egypt) in Q2, the lowest quarter since 1Q 2017 and 35% down on the same quarter last year. Apache plans to reduce its average rig co...
Volume: 62Issue: 32Published at Fri, 09 Aug 2019 -
Egypt Gas Output At Record Level
...bra and Taurus fields (MEES, 15 March). BP says Giza and Fayoum output is around 340mn cfd, implying around 360mn cfd from Libra and Taurus, a significant fall from the initial 700mn cfd the two fields produced when they were brought online in May 2017 (MEES, 12 May 2017). Phase 3 of the project, th...
Volume: 62Issue: 32Published at Fri, 09 Aug 2019 -
KRG Gets Vote Of Confidence From Key Upstream Players
...st two years. Until recently, Erbil was squabbling with foreign operators over payments, which hindered investment and output (MEES, 10 February 2017) – a reality further exacerbated by the loss of revenues from 280,000 b/d worth of production after Baghdad retook key Kirkuk fields following the fa...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
Iraq Crude Exports Edge Up In July
...rticularly to the post-2014 oil price crash when Iraqi revenues halved to less than $50bn a year. Higher oil prices have nonetheless given Baghdad some breathing room in the last couple years. The government ran a slight surplus in 2017 and a whopping $21.6bn surplus last year. Central Bank of Iraq data fo...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
Now Or Never For Leviathan As Partners Re-Float LNG Plans
...lek and Ratio, are eying the further expansion of the field. Discovered back in 2010, the partners only stumbled to a final investment decision in 2017, and this for a greatly scaled back ‘Phase-1A’ project (MEES, 24 February 2017). Though first gas is on track for the end of this year, full field de...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
Israel Awards 12 Blocks
...rael Opportunity took Zone D’s four blocks. All three zones are in the southern half of Israel’s EEZ (see map). The small blocks were grouped together in larger zones after a bid round launched 12 months earlier had failed to yield any big names (MEES, 15 December 2017). This tactic also appears to ha...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
Israel Bidding: Geopolitical Handicap Stymies Major Interest
...s five more Israel exploration blocks from the 2017 bid round. Whilst no-one can doubt the firm’s ambitions – it recently agreed to pay up to $850mn for the upstream assets of Italy’s Edison (MEES, 5 July) – it is unlikely to have spare cash for major exploration efforts anytime soon. So no ma...
Volume: 62Issue: 30Published at Fri, 26 Jul 2019