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Qatar Restarts Gas Expansion Plans As Iranian Output Of Shared Field Soars
...0mn cfd of ethane, 10,500 b/d of propane and 7,500 b/d of butane (MEES, 5 September 2014). Despite the initial plan, it is very possible that some of the Barzan natural gas will end up being exported. Power supply remains ahead of demand and Qatar plans to add 4.5GW installed capacity by 2019 th...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
Egypt: Key West Nile Delta Project Set For Start-Up
...r field (see box) and the rapid ramp-up in output at Eni/BP’s Nooros in the shallow waters of the Nile Delta to 875mn cfd within six months of July 2016 start up, should boost Egyptian gas production over 5bn cfd by Q3 for the first time since January 2014. February output was 4.41bn cfd (MEES, 24 Ma...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Algeria Keeps Oil Spending Flat, Extends Exploration Search Offshore
...wnstream are added in, the total spending program comes out at about $75bn. Sonatrach’s headline figure for its 2016-20 five-year plan was $73bn, but for 2015-19 it was $90bn and for 2014-18 it was $100bn (MEES, 17 February). Sonatrach upstream VP Salah Meknouche made the most of what was essentially a sp...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Ta-Ta Taq Taq: Demise of Key Kurdish Field Weighs On KRG Exports
...15 2014 Tawke 110.0 2.7 107.3 135.2 91 Taq Ta...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
East Med Deepwater Exploration: In Search Of ‘More Zohr’
...mpatriot Edison. A detailed map in Eni’s latest annual report also shows the field itself rubbing up against the Edison block, whilst other maps – including ones produced by Eni – have shown the field actually crossing the line. Although Edison was awarded North Port Fouad in September 2014, the same ye...
Volume: 60Issue: 12Published at Fri, 24 Mar 2017 -
Aramco IPO Valuation: The Devil Is In The Detail
...lman, who is the key driver behind the much-vaunted Vision 2030 economic diversification plan, has estimated Aramco’s value at $2 trillion. This means its IPO would raise around $100bn, dwarfing the $25bn secured by Chinese internet retailer Alibaba in the world’s largest IPO in 2014. Fu...
Volume: 60Issue: 12Published at Fri, 24 Mar 2017 -
Libya Oil Gains Go Into Reverse
...C officials, way below 300,000 b/d capacity but the highest level since Q4 2014. It was initially cut by 35,000 b/d due to concerns over limited storage capacity and the events unfolding at the Es Sider terminal before production halted completely on 9 March. Waha was offline between December 2014 an...
Volume: 60Issue: 11Published at Fri, 17 Mar 2017 -
Asian LNG Imports Hit Record High In 2016; Global Supply Glut Yet To Come
...p 5’ reached 175.1mn tons in 2016, up 4.7% on 2015’s 167.5mn tons and 1.2% above the previous record of 173mn tons set in 2014. The record came despite Japanese demand falling and that from Korea remaining stagnant in 2016. Buying was supported by nuclear plant outages especially in Korea and st...
Volume: 60Issue: 10Published at Fri, 10 Mar 2017 -
Iraq Eyes Oil Revenue Gains And Incremental Production Growth
...09mn b/d higher than in 2014 (MEES, 10 February). Although revenue plummeted over this period, it stands in good stead to capitalize should the latest oil price gains be sustained. Output is constrained by the production agreement in the first half of 2017 – although Iraq remains the tardiest member in te...
Volume: 60Issue: 09Published at Fri, 03 Mar 2017 -
Abu Dhabi Finalizes Onshore Concession With Chinese Partnership
...anayel, along with one field under development - Jumaylah. Projects are underway to increase NEB output to around 230,000 b/d. In 2014, Italy’s Maire Tecnimont was awarded a $2.25bn EPC contract to boost Al Dabb’iya output to 145,000 b/d by 2018 and the project is still underway. South Korea’s GS En...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
Kuwait: Subsidy Row Presages Return To Disruption As Usual
...s poor performance on another project. This is the construction of a 100,000 b/d gathering center (GC-31) for Kuwait’s northern fields. The KD250mn ($810mn) contract was awarded in July 2014 – Petrofac and India’s Larsen and Toubro were awarded two other gathering centers – with a planned completion of...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
KRG Gas Plans: The Rollercoaster Continues
...xt step of concluding negotiations with potential partners, and moving the gas project towards the FID.” ...BUT IS DEVELOPMENT ANY CLOSER? When Genel signed the initial agreement for development of Miran and Bina Bawi in November 2014, the firm said it “expects that a final investment de...
Volume: 60Issue: 07Published at Fri, 17 Feb 2017 -
Algeria Looks To Build On Modest Output Gains But Investors Remain Wary
...end bucks a pattern of flat or declining output established over the past decade. Combined production of crude oil and natural gas liquids (NGLs) hit a low of 1.49mn b/d before edging up to 1.59mn b/d in 2014 and 2015, according to BP’s most recent Statistical Review, published in June. But that is st...
Volume: 60Issue: 07Published at Fri, 17 Feb 2017 -
Egypt Plots Upstream Revival, If It Can Find The Cash
...ll to IOCs remains a major point of contention. It ballooned to $6bn in 2014 and although it fell to $3bn at the end of 2015, it edged back up to $3.5bn in December according to official figures. A lack of forex at Egypt’s Central Bank means state oil firm EGPC has struggled to obtain the cash to pa...
Volume: 60Issue: 05Published at Fri, 03 Feb 2017 -
Output At Key Kurdistan Oil Field Could Fall 60% in 2017
...nel 75% op, KRG 25%) and Bina Bawi (Genel 80% op, KRG 20%) gas fields are also suffering further. The operations update strikes a pessimistic stance regarding progress at the fields in 2017. TAQ TAQ RELEGATED TO SECOND TIER In 2014, Taq Taq was the largest producing field in Iraqi Kurdistan – ou...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
Libya’s NOC To Lift Investment Moratorium; But Divisions Remain
...TAGE Crude output of 715,000 b/d on 22 January was the highest level since November 2014, according to MEES figures. But this level, up from December’s average figure of 600,000 b/d, didn’t last for long. Output subsequently dropped by about 60,000 b/d due to a fire at a substation supplying power to...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
Oman’s Reliance On Chinese Crude Export Markets Deepens
...13 2014 Oil Output 1004 +23 981 1007 -2 +18...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
Japan Expands Role In Abu Dhabi Upstream
...s target of 750,000 b/d by 2018 (MEES, 11 November 2016). Here Inpex (12%) and Adnoc (60%) are joined by US major ExxonMobil (28%). The contract for Upper Zakum runs until 2041 after being extended in 2014. Crude oil from the three fields is blended to produce the 34° API Upper Zakum grade, wh...
Volume: 60Issue: 03Published at Fri, 20 Jan 2017 -
Iran Prepares To Boost Gas Exports
...is was a significant fall from 2014 when Turkey imported 8.9bcm of Iranian gas out of 9.6bcm total exports. 2016 exports to Turkey look to have fallen slightly to 7.7bcm, presuming the last two months’ numbers are in line with normal seasonal trends. Turkey and Iran have a 10 bcm/year gas sales ag...
Volume: 60Issue: 02Published at Fri, 13 Jan 2017 -
KRG Set For Modest Oil Output Gains After Painful 2016
...December 2013) but a series of flops have kept output at an average of around 2,500 b/d since June 2014 start-up. Production did edge up to 3,100 b/d in the fourth quarter 2016 but it has since fallen back to 3,000 b/d. Production from Zeg-1 is “currently constrained” to 1,500 b/d of 35.5° API cr...
Volume: 60Issue: 02Published at Fri, 13 Jan 2017