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Petroceltic Eyes Algerian And Egyptian Expansion
...ving to front end engineering next year and development drilling in 2015. A total of 20 wells are planned before first gas production in the third quarter of in 2017. Some 150 development wells are planned over the field’s lifetime. 10 Tcf Reserves, 7 BCM/Year August’s declaration of...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012 -
Producers And Consumers Seek Cure For Oil Market Turbulence
...ntracted fields by 2017-20. Some IOCs have already submitted revised development plans and our own reservoirs department is conducting its own studies. Both the IOCs and the oil ministry are not far from the consultants’ initial figures – but there is no decision yet. No decision on production levels will be...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012 -
Repsol Strikes Gas In Algeria
...produce 3.6 bcm/year from late 2017, and where Enel is a partner. The key Algerian projects for both Repsol and GdF going forward are in the country’s far southwest. Repsol is operator of the $3bn Reggane Nord development which is slated to produce 2.9 bcm/y from late 2016, whilst Gd...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012 -
KOC Eyes $56bn Investment Bonanza
...pital expenditure of $11.5bn in 2012-13, $5.9bn in 2013-14, $11.4bn in 2014-15, $12.5bn in 2015-16, $9.1bn in 2016-17, and $5.4bn in 2017-18. Bad Press To some Kuwait may appear a poster child for how not to run an oil industry. But while there are clear issues surrounding pa...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012 -
Leviathan Partners To Drill 4Th Well
...chel license area. This is also designed to function as a production well once it starts up in 2017-18 and will be necessary to complete the field’s mapping. Expected to be drilled in four months, the well will be located 125km to the west of Haifa and will reach a total depth of 5,...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012 -
Mubadala To Invest $8bn In East African LNG Production
...s joint venture with ADNOC that operates Shah, Al-Hosn Gas, to run all three fields. Mr Kubota says Fujairah’s permanent import LNG terminal could be completed by 2017 taking total import capacity up to 1.2bn cfd. Phase one – 600mn cfd of LNG – will come from a floating regasification and st...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012 -
Ankara Poised To Unleash KRG Upstream Investment
...000 to go to 15,000 b/d by end 2012. 35,000 b/d by end 2013 and phase 3 125,000 b/d by end 2017. Ain Sifni 20% (see Hunt below). 27-Jul-11 Ma...
Volume: 55Issue: 46Published at Fri, 09 Nov 2012 -
'Democratic' Bumps Fail To Prevent Libyan Gains
...elds by the end of 2015 (MEES, 2 November). Meanwhile, RWE-Dea is looking to finalize the development timeframe for its 30,000 b/d NC-195 and NC-197 discoveries. By 2017 NOC is targeting 2.2mn b/d with key additional volumes to be supplied by the Waha consortium (which groups NOC with US fi...
Volume: 55Issue: 46Published at Fri, 09 Nov 2012 -
Libya Weighs Options For Gas Development
...pansion plans of the Waha consortium which wants to more than double its crude output to 600,000 b/d by 2017 partly through the development of the 80,000 b/d gas-condensate field discovered on block NC-98 and the development of 180-200mn cfd gas production at the Faregh field. Hess Ho...
Volume: 55Issue: 46Published at Fri, 09 Nov 2012 -
Egypt Extends Gas Bidding; TransGlobe Awarded Oil Blocks
...d 3D seismic and drill exploration wells. TransGlobe is looking to the four bid round blocks to add up to 15,000 b/d to the company’s Egyptian production by 2017, part of ambitious plans to ramp it up to 40,000 b/d over the next five years (MEES, 16 June). The company’s current Eg...
Volume: 55Issue: 46Published at Fri, 09 Nov 2012 -
November Political Changes Unlikely To Impact Energy Macro-Trends
...asons, why the OECD Energy Watchdog, the IEA, predicts total Middle East crude exports to China, will subside somewhat to 2.5mn b/d by 2017. According to the IEA’s Medium-Term Oil Market Report, total Gulf exports east will also decrease, but tepid EU demand and surging US supply will mean As...
Volume: 55Issue: 45Published at Fri, 02 Nov 2012 -
IEA Sees Ethylene Market Driven By Ethane Cracker Surge
...st and the US, according to the International Energy Agency (IEA). In the 12 October Medium-Term Oil Market Report the agency predicted that global ethylene capacity will rise to 183.4mn tons/year in 2017 from 147.6mn t/y in 2011, equivalent to yearly growth of 3.7%. In 2012, oil eq...
Volume: 55Issue: 45Published at Fri, 02 Nov 2012 -
IMF: Hydrocarbon Dependence Leaves GCC Exposed
...ending These levels of spending however are unsustainable in the longer-run, the IMF said, suggesting the GCC members should plan to reduce their government spending to make budgets more sustainable. Failure to do so could result in the group’s combined surplus turning into a deficit by as early as 2017...
Volume: 55Issue: 45Published at Fri, 02 Nov 2012 -
South Sudan Orders Oil Production Restart
...l Output Through 2017 In its Medium-Term Oil Market Report 2012 meanwhile, the International Energy Agency (IEA) said it did not expect to see any significant increase in either country’s production over the coming five years, despite best efforts by both the Sudanese and Southern Sudanese go...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Qatar Faces LNG Market Challenges
...e Sabine Pass project, and the next project that is likely to go ahead probably won’t read final investment decision (FID) until 2Q13, or even 2014; putting them in the 2017-18 time frame,” Mr Flower says. But if Japan starts importing US LNG at Henry Hub prices, some feel this may re...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Middle East Refinery Capacity To Surge, Says IEA
...owing regional oil product demand,” Toril Bosoni, refining analyst for IEA’s monthly Oil Market Report, told MEES. The IEA sees Middle East oil demand growing by 1.7mn b/d from 2011 to 2017 or an average annual growth rate of 3.4% – the highest in the world. With forecast additions to Middle East re...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Iraq Wakes Up From Power Shortage Nightmare
...the Kurdistan Regional Government (KRG) into a 1,500mw Combined Cycle power station by 2015. Even after the mega-deal purchases, Iraq plans to spend around $4.5bn/year, or some $27bn, up to 2017, on its electricity sector (see table). This 2012-17 spend will break down as follows: $14bn fo...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Woodside Keen On Leviathan Partnership, Pelagic Prepares Aphrodite-2 Well
...cility located in Cyprus – but will need a strategic partner experienced in LNG to carry the project through. Currently, the target date for Leviathan production start-up is a tentative 2017. But exports from Leviathan and other Israeli fields will depend on whether the Israeli government’s export policy fo...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
IEA Predicts Bleaker Days Ahead For OPEC
...ar through to 2017, and the estimated Call on OPEC is cut from 2013 by some 600,000-900,000 b/d. The IEA has also downgraded its projections for OPEC NGL supply. And most critically for OPEC member countries, the MTOMR sees average oil import prices falling in nominal terms from $107/B this year st...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Turkey Turning To Nuclear Power, Counting On Coal
...clear power plant at Barakah in Abu Dhabi in partnership with the Emirates Nuclear Energy Corporation (Enec). Project cost is put at $20bn and it is due to come online in 2017. Turkish and Russian heads of state signed in May 2010 an intergovernmental agreement allowing for the Russian fi...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012