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Repsol ‘Optimistic’ As Libya’s Sharara Output Hits Five-Year High
...arly 60,000 b/d before the 2011 revolution but output has averaged 25-30,000 b/d in recent years. LIBYA’S SHARARA CONCESSION: AVERAGE OUTPUT SLUMPED TO 200,000 B/D FOR 2024 ON THE BACK OF LENGTHY OUTAGES (‘000 B/D).... ...BUT NEW DRILLING CONTINUED APACE. REPSOL SAYS CAPACITY LEAPT BY 37,000 B/D OV...
Volume: 68Issue: 09Published at Fri, 28 Feb 2025 -
Cyprus Eyes Gas Riches: Cronos And Aphrodite Plans Advance, Destination Egypt
...uld be 2031, 20 years after discovery, before Chevron achieves first output. Cyprus’ 3.5tcf Aphrodite field, the Mediterranean island’s first gas discovery in 2011, has a new development plan after Nicosia on 14 February accepted proposals filed by Chevron in September that envisage 800mn cfd ou...
Volume: 68Issue: 08Published at Fri, 21 Feb 2025 -
Eni/Kogas Quit Cyprus Blocks As Development Plans Awaited
...tension to the standstill, MEES understands. Aphrodite was Cyprus’ first gas find in December 2011. But amid protracted wrangles over contractual terms (MEES, 30 August 2024), it may be overtaken by Cronos as the first Cyprus field to reach production. CYPRUS KEY BLOCKS & GAS DISCOVERIES...
Volume: 68Issue: 03Published at Fri, 17 Jan 2025 -
Libya Ends 2024 With 1.4mn b/d Crude Milestone As Bid Round Remains Stalled
...INSTABILITY The instability that has plagued Libya’s vital oil and gas sector since the 2011 revolution that ousted longtime ruler Muammar Gaddafi has made IOCs wary of committing to serious investments in the country (MEES, 19 January 2024). Ambitious plans to boost crude ou...
Volume: 68Issue: 01Published at Fri, 03 Jan 2025 -
Cyprus Hopes For Mega Exxon Elektra Find To Jolt Its Gas Sector To Life
...ock 3 (MEES, 16 February 2018) in a move it said was linked to defending the interests of the Turkish Cypriot community who mostly live on the northern third of the island which has been occupied by Turkey since 1974. Beyond the discovery of Aphrodite, 13 years ago in late 2011, Cyprus has seen fo...
Volume: 67Issue: 50Published at Fri, 13 Dec 2024 -
Libya Exploration Reboot As Eni/BP & OMV Kick Off Drilling
...Libya’s upstream has got a long-awaited boost with Eni/BP and OMV both kicking off exploration campaigns on ice since the country’s 2011 revolution. With Italian PM Georgia Meloni in town, Eni may be set to sign the controversial NC-7 deal. Eni and BP, as well as Austria’s OMV, have ki...
Volume: 67Issue: 44Published at Fri, 01 Nov 2024 -
Eni & BP Set To Kick Off Libya Exploration Drilling Campaign
...Tony Blair (MEES, 4 June 2007). BP pledged to invest $900mn drilling 17 wells. Following several false starts, it was about to drill its first well in February 2011 when the revolution that saw the ouster of Gaddafi kicked off. Though the UK major did dust off plans in 2012 amid a brief period of...
Volume: 67Issue: 39Published at Fri, 27 Sep 2024 -
Aphrodite On The Rocks? Cyprus’ First Gas Find Faces Uncertain Future
...ay hardball with the partners of the country’s first gas discovery, 3.5tcf Aphrodite, made back in 2011. On 30 April, Nicosia informed the field’s partners, Chevron (35%op), Shell (35%) and Israel’s NewMed (30%), that their latest proposed revisions the field’s 2019 development plan, submitted on 28 Ma...
Volume: 67Issue: 18Published at Fri, 03 May 2024 -
Egypt Gulf Of Suez Renaissance: Can It Be Sustained?
...l was first discovered over 100 years ago. The region remained Egypt’s top oil producing province until 2011 when it was overtaken by the Western Desert. The region’s top producer is Dragon Oil, a subsidiary of Dubai’s state oil firm Enoc, with production reaching 66,000 b/d in February. Dr...
Volume: 67Issue: 14Published at Fri, 05 Apr 2024 -
Israel & Cyprus Talk Power Link, Aphrodite-Ishai
...ach an agreement soon for the Aphrodite – Ishai issue,” Mr Papanastasiou confirmed. A dispute with operator Chevron has also held up development of Aphrodite which was discovered in 2011 (see main story). ...
Volume: 67Issue: 13Published at Fri, 29 Mar 2024 -
Gazprom Nasiriya Entry: Conciliatory Gesture?
...U with NIOC to develop Azar before being kicked out in 2011 (MEES, 17 October 2011). It’s unclear whether the firm’s work at Badra was indeed informed by Iranian data. The source assesses that Gazprom Neft’s Nasiriya pitch may involve moving some of Badra’s surface processing equipment, for wh...
Volume: 67Issue: 10Published at Fri, 08 Mar 2024 -
Libya Gas Exports At 13-Year Low
...Libya’s gas exports, all of which go to Italy via the 8bcm/y (775mn cfd)-capacity Greenstream pipeline, fell to just 137mn m3 (167mn cfd) for February, one of the lowest figures since the massive instability of the revolutionary year of 2011. With the two preceding months also having seen su...
Volume: 67Issue: 10Published at Fri, 08 Mar 2024 -
Eni Eyes ‘Best Fast-Track Development’ For Cyprus Cronos Find
...scovered more than a decade earlier in 2011, as Cyprus’ first gas development. Chevron (35%op) and its partners Shell (35%) and Israel’s NewMed (30%) have been set a deadline of 31 March to submit “optimizations” to Aphrodite’s 2019 approved field development plan (FDP) after previous modifications were re...
Volume: 67Issue: 07Published at Fri, 16 Feb 2024 -
Adnoc & BP Ink Egypt Gas JV With Israel Entry On Hold
...scovered in 2011 and mentioned by BP as a potential development option back in 2019 (MEES, 24 May 2019). $1BN+ DEAL? The companies do not say how much Adnoc will pay for just under half of BP’s share in the six assets beyond that a “proportionate cash contribution” will be earmarked “for fu...
Volume: 67Issue: 07Published at Fri, 16 Feb 2024 -
Cyprus’ Gas Ambitions: Could Cronos Overtake Aphrodite?
...Cyprus’ 2011 Aphrodite gas discovery risks being overtaken by Eni’s 2022 Cronos find in the development stakes. Nicosia faces key 2024 gas decisions. CYPRUS’ 2024 UPSTREAM MILESTONES *Mid-January: Cronos drilling completes *End-March: Deadline for Chevron to su...
Volume: 67Issue: 03Published at Fri, 19 Jan 2024 -
Iran Plans Major Gas Storage Expansion To Face Winter Shortages
...feeding stranded provinces to become a strategic energy balancing tool. According to the report, the difference between summer and winter demand peaks jumped from 180mn m3/d (6.36bn cfd) in 2011/12 to 221mn m3/d (13bn cfd) in 2021/22. Moreover, steady growth means that consumption in summer is no...
Volume: 66Issue: 49Published at Fri, 08 Dec 2023 -
Libya Exploration Picks Up Steam As NOC Reiterates Ambitions
...Libya is persuading more and more of IOCs to return to exploration. The country’s rig count hit 18 for October, the highest level since the 2011 revolution (see chart). And recent weeks have seen a flurry of announcements from NOC that foreign oil and gas firms are planning on resuming dr...
Volume: 66Issue: 48Published at Fri, 01 Dec 2023 -
Algeria: Key Southwest Gas Field Start-Ups Boost Exports To 7-Year High
...liant on gas for 99% of power generation. The gains in pipeline deliveries to key market Italy are more striking still, with 8M 2023 volumes of 15.47bcm (2.25bn cfd) the highest since 2011. And after April’s 11-year monthly high of 2.96mn cfd (MEES, 5 May), June, July and August were all the hi...
Volume: 66Issue: 37Published at Fri, 15 Sep 2023 -
Cyprus’ Aphrodite: Development Talks Continue Amid Reserves Downgrade
...rnerstone of their energy strategy,” a MEES source says. Trouble has been brewing for some time between Nicosia and Chevron, which only entered the project in late 2020 after its takeover of compatriot Noble Energy, which discovered Aphrodite in 2011. Understandably the US major believed it could im...
Volume: 66Issue: 36Published at Fri, 08 Sep 2023 -
Libya Eyes 10,000 B/D 1H24 Output At North Hamada
...w a pipeline connection between Tahara and the parallel El Feel/Sharara to Zawiya/Mellitah trunk crude pipelines. Full development of the seven fields on Area 47’s Block 2 on which commerciality was declared in 2011 and 2014 is slated to produce 50,000-60,000 b/d liquids and 90mn cfd gas with ou...
Volume: 66Issue: 35Published at Fri, 01 Sep 2023