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Iraq’s Rumaila Down By 200,000 B/D As Water Content Rises
...the country’s producing fields, by offering to raise production to a 2.85mn b/d plateau by 2017 for a per barrel fee of $2, and maintain the plateau production target for seven years. The investment to date has raised production capacity from the field, which has 17bn barrels of recoverable re...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Bahrain Oil And Gas Sector Steady In 2013, But Challenges Ahead
...en delayed by at least two years. Previously, MEES reported that Bapco expected to roll out the replacement and new refinery units over a two-year period between 2017 and 2019. Speaking about the timing of the Sitra refinery expansion, Mr Muayyid sees greater market competition from Gulf re...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Aramco Targets Energy Efficiency,
...16 Jazan IGCC 2.40 Residues 2017 Total 4.29 Source: Saudi Aramco. Saudi Aramco Energy Conservation Savings (‘000 Boe/D)...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Sonelgaz $7.6Bn Powergen Outlay By End-2017
...mand growth, the company is adding 12.18GW of generating capacity by 2017. It recently awarded contracts for six combined cycle gas turbine (CCGT) plants worth a total $4.05bn. In an interview with the El Watan newspaper, Sonelgaz official Rabah Touileb said that Algeria’s electricity demand is gr...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Egypt: Receivables Rise Again
...d-2013. Meanwhile in its 16 May preliminary 2013 results announcement, the firm says that first gas from the 2.1 tcf Ain Tsila field, the company’s “most significant asset,” “now appears more likely to occur in 2018 than the previous estimate of late 2017.” FEED is set to begin later this year, wh...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
KPI Positive On China JV
...16, or early 2017, the Vietnamese refinery will exclusively process 30.2° API Kuwait export crude....
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Sisi Promises Economic Reforms
...esidential candidate Field Marshall Abdel Fatah al-Sisi, who is widely expected to win, has said that he will target a GDP growth rate of 7%, and a decrease in the unemployment rate to 8% by fiscal year 2017-18, targets which appear to be highly ambitious, considering current circumstances. He says he is al...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Qatar Faces Cost Blow-Out In Drive To Redevelop Bul Hanine
...r crude production. In the April report, QNB says that it expects oilfield redevelopment to only sustain current levels of crude output. Last year, however, QNB forecasted a growth in crude production to 800,000 b/d by 2017. The bank’s recent break with optimism is in stark contrast with earlier pr...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Delek Raises Funds To Drive Offshore Israel Development
...oduction platform to the wellhead has a capacity of 12 bcm/y (1.16bn cfd). The third pipeline would likely cost $200-300mn and be completed by 2017, according to Israeli daily Globes. Moody’s rating agency gave the bond, issued on 28 April, a Baa3 rating (investment grade, though only just) lowest due to...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Leviathan Eyes Cyprus Tender; Cyprus Eyes LNG
...ns of LNG. First gas is to be delivered between 1 January 2016 and 30 June 2017. The tender expressed no preference for pipeline or LNG delivery. With Cyprus having no current LNG import infrastructure, any offer involving LNG would have to factor in the cost of building such plant. MEES un...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
UAE Considers Long-Term Power Strategy
...lar plant in its solar park 50km south of Dubai city, due online in 2017. Small renewables units are ideal for single-site projects: Dubai’s International Humanitarian City complex is installing 5.6MW of rooftop solar capacity. Conventional projects are also planned. Abu Dhabi’s TAQA and the Fe...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Saudi Arabia Sees No Need For OPEC Output Hike
...ghly ambitious 5.7mn b/d by 2017, up from 3.7-3.8mn b/d today (MEES, 18 April). OPEC’s production, according to MEES surveys of monthly output, rose above the OPEC-12 ceiling of 30mn b/d in February, but has since been below target, largely because of Iran and Libya. Yet Mr Naimi says the focus sh...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Iran Turns Up The Heat On Chinese State Energy Giants
...7mn b/d by 2017, up from 3.7-3.8mn b/d today (MEES, 18 April). Beijing is by far the largest foreign investor in the Iranian upstream, after having stepped in to take control of projects abandoned by Western oil companies that were forced to exit Iran with the tightening of Western sanctions in the mi...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
KPC 100KBD India Deal
...gin commissioning in June. The refinery is highly complex and is built to process ultra-heavy, sour crudes. Kuwait has plans to bring onstream 60,000 b/d of extra-heavy Ratga crude by 2017 and increase production to about 120,000 b/d by 2020 (MEES, 18 April). Indian Oil is moving forward with pl...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Egypt Mulls LNG Import Options
...se Algeria’s problem is a lack of gas, not liquefaction capacity. LNG exports, which declined from 14.26mn tons in 2010 to 10.9mn tons last year, are unlikely to increase substantially (if at all) until the Southwest Gas Project comes online from 2017, and maybe not even then, given Algeria’s pl...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Tupras Boosts Turkish Conversion Capacity
...bsidiary of Azerbaijan’s state oil company and by Turkey’s Calik Enerji. While Calik’s planning for a 300,000 b/d refinery at Ceyhan is at an early stage, Socar is nearing completion of financing for the 200,000 b/d Socar Turkey Aegean Refinery (STAR) at Aliaga, which is expected to begin operating in 2017 an...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Aramco Scales Back Giant Jazan Plans To 2.4GW
...’s lump sum turnkey contract covers engineering, procurement, construction, pre-commissioning and commissioning support. TR says the utilities and offsites will be operational in 2017. This represents a one-year delay from the original 2016 start-up schedule. The delay can be attributed to the ma...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Hamad Bin Jasim Returns With $1.6bn Heritage Oil Takeover
...nths until reaching six active rigs in 2017, Heritage says. The block has 1.1bn barrels of remaining 2P reserves, of which Heritage’s net share is 277mn barrels, the firm says, adding that the block also contains 2.5 tcf of undeveloped gas, as well as “deeper exploration potential.” Production at OM...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Egypt Pushes Back Bid Round Deadline
...paid $1bn in outstanding receivables over the coming two months. IOCs are owed $6.3bn, said Mr Ismail, after they received $1.5bn last December. The government at the time announced the repayment of a further $3bn in monthly instalments to 2017 (MEES, 25 April). The ministry offered no clues as...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Noble Bullish On Leviathan Plans
...s key Israeli fields. Prime among these is the aptly-named 19tcf Leviathan field, the East Mediterranean’s biggest discovery to date. Here, Noble is increasingly confident it will be able to bring the field online by late 2017, more than doubling the firm’s gross offshore Israel capacity to 3bn cf...
Volume: 57Issue: 18Published at Fri, 02 May 2014