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Kurdistan Gas: The Key To Easing Iraq’s Chronic Power Shortages?
...s 400mn cfd Khor Mor field. It is also the only producer bringing additional volumes online. But while past differences with the Kurdistan Regional Government (KRG) have been resolved, the consortium’s ability to grow production without an outlet for its volumes is constrained (MEES, 1 September 2017...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
New Egypt Gas Projects To Boost Output
...d Atoll project (MEES, 14 December 2018). BP says it hopes to raise Atoll output to 400mn cfd. The field came online in December 2017, the same month as Zohr, and is one of three discoveries the UK firm has made in the North Damietta concession in the Nile Delta, along with Qattameya and Sa...
Volume: 62Issue: 06Published at Fri, 08 Feb 2019 -
Algeria Oil Output On The Slide
...ude. Algeria’s average 2018 output of 1.04mn b/d was the lowest since 2003. Though Algeria ostensibly linked lower output for 2017 and 2018 to solidarity with Opec cuts, in reality a threadbare pipeline of new projects has translated into long-term output decline. Drilling activity fell to the lowest le...
Volume: 62Issue: 06Published at Fri, 08 Feb 2019 -
Tunisia’s Net Energy Imports Hit Record In 2018
...nual price for Brent crude (see chart 4). Net oil import volumes were actually down a touch thanks to a dip in demand from 2017’s record levels. Whilst in gross terms, Tunisia’s spending on energy imports remains well below the $4bn-plus import bills seen in 2012-14 when crude was largely over $10...
Volume: 62Issue: 05Published at Fri, 01 Feb 2019 -
GCC Gas Integration: More Than Just A Pipe Dream?
...rough a 2bn cfd pipeline. Flows have continued despite the onset of the Qatar embargo in June 2017, with Dolphin reporting exports of 2bn cfd in 2017 (MEES, 9 June 2018). Rates have stayed flat in 2018. The rationale for gas integration has long been clear. Qatar and Oman aside, the GCC countries have fa...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Genel Farm-In Boosts Development Prospects At Chevron KRG Blocks
...0,000 b/d Tawke license (DNO 75%op, Genel 25%) has fared better. In Chevron, Genel gains a world class partner whose technical expertise could perhaps help avoid geology-related declines that have previously plagued Genel (MEES, 31 March 2017). “We are delighted to have been chosen as a partner to Ch...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Baghdad: KRG Budget Overture
...Iraq’s 2019 budget, passed by parliament 24 January, formalized the central government’s payments to KRG state workers and Peshmerga forces, further affirming the thawing relations between Baghdad and Erbil after the KRG’s ill-fated 2017 independence referendum (MEES, 29 September 2017). “Th...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Bahrain Looks To Parlay Upstream Potential Into Downstream Riches
...an leads the way with its 1bn cfd BP-operated Khazzan tight gas field (MEES, 29 September 2017). Meanwhile, Abu Dhabi awarded Total a contract to develop the Ruwais-Diyab unconventional gas concession in November 2018 (MEES, 23 November 2018). Most pertinently, Saudi Arabia is developing the nearby Ja...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Oman: Oil Revenues Rebound Despite Slide In Exports
...*Latest official data from Oman’s Ministry of Oil and Gas show that the sultanate produced 992,000 b/d of crude and condensate in December. This pegs average 2018 output at 978,000 b/d, up a fraction on 2017 but almost 3% down on 2016’s record 1.004mn b/d – the only time Oman’s output has ev...
Volume: 62Issue: 03Published at Fri, 18 Jan 2019 -
Iraq Nears 5mn b/d Production Capacity Ahead Of Schedule
...its parts. Iraq’s oil sector rounded off months of record form in December, with wellhead production at an all-time high of 4.70mn b/d (see p6). For 2018 as a whole, output averaged 4.53mn b/d, up 100,000 b/d year-on-year from 2017, which itself was a record year. That Baghdad has managed to gr...
Volume: 62Issue: 02Published at Fri, 11 Jan 2019 -
Libya Revenues At 5-Year High But Remain Unstable As Noc Eyes Gas Boost
...venues for 2018, a figure that could have been substantially higher if it wasn’t for intermittent outages at key fields and export terminals, mainly due to civil strife, storage capacity woes and bad weather. 2018’s 78% hike in revenues comes thanks to average oil prices almost $20/B higher than 2017...
Volume: 62Issue: 02Published at Fri, 11 Jan 2019 -
East Med Gas Developments Gather Pace In 2019
...16 bid round, with a consortium of ExxonMobil and Qatar’s state oil firm QP winning the auction over Norway’s Statoil (now Equinor) and a joint Total/Eni bid (MEES, 29 July 2016). Eventually Total did end up drilling offshore Cyprus in Block 11 in July 2017, but failed to discover commercial qu...
Volume: 62Issue: 01Published at Fri, 04 Jan 2019 -
Iraq: Record December Exports Fail To Mask Bleak 2019 Revenue Outlook
...Iraq’s December exports of 3.73mn b/d smashed the previous high. Key expansions mean Baghdad will break this mark in 2019 despite Opec output commitments. Iraqi oil export revenues came in at $83.7bn for 2018, up a massive 41% versus 2017’s $59.5bn. This four-year high was ac...
Volume: 62Issue: 01Published at Fri, 04 Jan 2019 -
Qatar Petroleum Eyes Big Results Overseas In 2019
...s overseas activity since late 2017, securing a swathe of assets. The latest move was announced on 16 December, with a 35% farm-in to Eni’s 2.1bn barrel “Area 1” offshore Mexico which contains three fields. The move was especially notable as the partners (Eni 65%, QP 35%) say that initial output fr...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Kuwait Oil: Change At the Top As 2020 Target Dropped
...nth. Mr Rashidi was only appointed in December 2017, but if he lasts into January then his tenure will have already exceeded that of his immediate two predecessors in the post (MEES, 15 December 2017). This revolving door at the oil ministry exemplifies the political disruption hampering Kuwait’s oil se...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
BP Goes Big On Egypt Gas Expansion
...gher price reflecting the share of development costs accrued between the two dates. BP is also Eni’s longstanding partner in a number of shallow water offshore fields that in 2017 contributed 1.82bn cfd or 37% of the country’s 4.97bn cfd output (MEES, 25 May). EGYPT KEY OFFSHORE GAS IN...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Mauritania: BP Eyes Second Hub With Tortue Set For Take-Off
...PANSION Total has rapidly expanded to rival BP as the leading major in Mauritania, in exploration if not development terms. Having only entered the country in 2017, it this week bagged two more large deepwater and ultra-deepwater blocks to take its total to five – all operated. The latest additions ar...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Moroccan Offshore: Going Nowhere Fast As Eni Hands Back Key Block
...th no guarantee of wells beyond this. Eni does retain the large Tarfaya Offshore Shallow block far to the south (MEES, 22 December 2017). But exploration here remains in its early stages. The only other major off Morocco is Chevron, which acquired three blocks at the start of 2013 (MEES, 1 Fe...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Iraq’s New Oil Minister Eyes 2019 Capacity Hike Despite Export Challenges
...o alternatives: new export routes or increased refining capacity. A long-time proponent the oft-delayed Basra-Aqaba pipeline, Mr Ghadhban told MEES in 2017 that the project would only take “a little over a year” but the project appears to have stalled in 2018 (MEES, 3 November 2017). Now as mi...
Volume: 61Issue: 49Published at Fri, 07 Dec 2018 -
Saudi Arabia Must Look Overseas To Realize Gas Export Dream
...xt 10 years in its bid to boost raw gas production to 23bn cfd by 2026 (MEES, 15 December 2017). CEO Amin Nasser told the Gulf Petrochemicals and Chemicals Association (GPCA) conference in Dubai this week that output currently stands at 14bn cfd. If accurate, this is a substantial increase on the 2017...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018