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Algeria Gas Exports Lowest Since 2020; Is Key Field Still Out?
...ar earlier at 7.99bcm (9.41bn cfd), average output of 10.3bn cfd (88.9bcm) for 11M 2014 was down 7% year-on-year. Whilst granular output data for the key fields of state giant Sonatrach are treated as a national secret, many are aging and have seen repeated spending on compression and EOR pr...
Volume: 68Issue: 06Published at Fri, 07 Feb 2025 -
Kuwait Upstream Capacity Tops 3mn B/d
...nagement between Saudi Arabia and Kuwait (MEES, 24 October 2014). For Kuwait to generate 350,000 b/d capacity from the PNZ by 2035, gross capacity will have to rise to a record 700,000 b/d. Appraisal work to potentially unlock new reserves at both Khafji and Wafra has been carried out to enable this. As...
Volume: 68Issue: 05Published at Fri, 31 Jan 2025 -
Eni/Kogas Quit Cyprus Blocks As Development Plans Awaited
...years. Eni, which originally had 80% stakes, drilled two dry wells on Block 9 (Onasagoras 2014, Amathusa 2015). But plans for an initial Block 3 well in February 2018 were scuttled as Turkish warships obstructed drilling (MEES, 16 February 2018). French major TotalEnergies farmed-in to the ac...
Volume: 68Issue: 03Published at Fri, 17 Jan 2025 -
BP Eyes Kirkuk Deal By February
...der the auspices of a 2013 MoU which was disrupted by the Islamic State’s 2014 takeover of much of northern Iraq, with the major restarting work in 2018. BP has decided to give Kirkuk a second chance due to Iraq’s willingness to offer improved contract terms under its ‘profit sharing’ Development an...
Volume: 67Issue: 48Published at Fri, 29 Nov 2024 -
Algeria Launches ‘Bid Round 2024’: Still Plenty Of Unanswered Questions
...geria. The acreage looks impressive, and with majors and other IOCs already beating a path to Algiers, the country will surely do better than its previous flopped bid round way back in 2014 (MEES, 3 October 2014). However, interested parties will still have plenty of questions as to what exactly is be...
Volume: 67Issue: 42Published at Fri, 18 Oct 2024 -
Oman’s OQEP Eyes New Gas Discovery In Upstream Reshuffle
...40%, OQEP 30%, PTTEP 20%, Petronas 10%) home to the massive 1.5bn cfd Khazzan & Ghazeer tight gas development. In 2014 it acquired a 40% interest in the gas giant before divesting 10% to Malaysian state firm Petronas in 2018 (MEES, 26 October 2018). BOOSTING BLOCK 60 Despite its ga...
Volume: 67Issue: 39Published at Fri, 27 Sep 2024 -
Eni & BP Set To Kick Off Libya Exploration Drilling Campaign
...relative stability (MEES, 4 June 2012), these never came to fruition. BP declared force majeure in 2014 and in 2015 wrote off the $598mn it had spent up till then on its sole Libya assets (MEES, 31 July 2015). However, Eni, unlike BP which has no production in the country, retained Libya as a co...
Volume: 67Issue: 39Published at Fri, 27 Sep 2024 -
Aramco Ups LNG Stake
...e facility since 2014. Overall, Shell supplied 67mn tons of LNG to buyers in 2023, making it the largest IOC portfolio player. INCREASED LNG EXPOSURE The transaction further strengthens MidOcean and Aramco’s position in the global LNG market, says MidOcean, adding that it “will pr...
Volume: 67Issue: 38Published at Fri, 20 Sep 2024 -
Adnoc’s Giant Onshore Concession Central To Future Bond Issues
...24 as a result of the CFP, and are set to easily break 2014’s record of 1.14mn b/d according to Kpler data. Exports this year peaked at 1.54mn b/d in April but have since eased off slightly averaging 1.31mn b/d for August (see chart 2). ADNOC ONSHORE RESERVES In preparation for th...
Volume: 67Issue: 37Published at Fri, 13 Sep 2024 -
Oman Posts Record Gas Output For 1H 2024
...om 2023’s record 5.0bn cfd. Production has been on a sharp upwards trajectory over the past decade, rising from 3.5bn cfd in 2014 thanks to the commercialization of sizeable unconventional gas deposits. Total gas availability is higher still at 5.4bn cfd, a figure that includes approximately 20...
Volume: 67Issue: 30Published at Fri, 26 Jul 2024 -
Egypt Gas Woes Continue As Output Slumps At BP’s Raven
...ases, output peaked at 2bn cfd in 2008 but had halved by 2014, with output now just 300mn cfd. Shell is moving ahead with Phase-10 and Phase-11 of the project but here any additional output will be offset by decline and the project may struggle to make it past the end of this decade. At Zohr th...
Volume: 67Issue: 28Published at Fri, 12 Jul 2024 -
Iraq Looks To Transform Export Options With $5bn South-North Pipeline Reboot
...e first phase of the planned Iraq-Jordan Export Pipeline project, alongside a second phase 800,000 b/d pipeline from Haditha to Jordan’s Red Sea port of Aqaba (MEES, 14 September 2012). That project was derailed by the Islamic State’s takeover of large swathes of Iraq in 2014, including most of An...
Volume: 67Issue: 25Published at Fri, 21 Jun 2024 -
Aramco Supplies US With Carbon-Offset Crude
...ble). The emissions were derived from a baseline assessment of operations between October 2022 and September 2023. The process was independently verified by London-headquartered LRQA. Aramco says that the offsetting is in accordance with PAS 2060:2014, which states that offsets compensate for gr...
Volume: 67Issue: 22Published at Fri, 31 May 2024 -
Iraq Bidding: Chinese Firms Dominate
...gion’s rebounding oil output (see p5). In the upstream, it operates the Kurdish-controlled Khurmala dome portion of the giant Kirkuk oilfield and between 2014 and 2017 it controversially operated the field’s Avana Dome, and the nearby Bai Hasan field after Kurdish forces moved in claiming to secure th...
Volume: 67Issue: 20Published at Fri, 17 May 2024 -
UN Libya Envoy Quits, Slams Squabbling Politicians
...sources since 2014, further stalling the much-anticipated elections originally slated for 2021 (MEES, 17 December 2021). In an effort to revive the electoral process, Mr Bathily set up a High-level Steering Panel for Libya to determine the electoral laws in spring 2023. But the initiative failed to br...
Volume: 67Issue: 16Published at Fri, 19 Apr 2024 -
Libya Gas Exports At 13-Year Low
...BYA’S ANNUAL GAS EXPORTS TO ITALY: 2023’s VOLUMES WERE ALREADY A POST-REVOLUTION LOW (MN CFD) *ENI LOWERED ITS OFFICIAL CAPACITY FIGURE FROM 11BCM/T TO 8BCM/Y IN 2014. SOURCE: SNAM, ENI, MEES. 3: ENI'S MELLITAH* GAS OUTPUT IS SET TO FALL BUT WILL GET MID-DECADE BOOST FROM BOURI THEN ST...
Volume: 67Issue: 10Published at Fri, 08 Mar 2024 -
Qatar Sees Buoyant LNG Demand Outlook As It Sanctions Further Expansion
...oductive layers of the giant field extend towards the west.” The discovery follows a drilling campaign of more than 20 appraisal wells since 2014. “Most recently, QatarEnergy has focused its efforts and attention on determining how far west the North Field extends in order to evaluate the production po...
Volume: 67Issue: 09Published at Fri, 01 Mar 2024 -
Egypt Upstream Output Set To Fall Further In 2024 As Zohr Slump Continues
...ames the underperformance on an inability to secure sufficient workover rigs. This saw activity fall behind the firm’s plans, with output further hit by “early-life ESP failures in new high-rate wells.” Apache’s rig count averaged 17 last year, the highest since 2014. Apache is guiding for 13-15 rigs th...
Volume: 67Issue: 08Published at Fri, 23 Feb 2024 -
Libya’s ‘Road To 2mn b/d’ Faces Infrastructure Logjam
...Total’s 30,000 b/d Mabruk field which has been offline since being overrun by Islamic State-affiliated militants in 2014 (MEES, 6 March 2015). Though the previous 2023 restart target has been missed (MEES, 31 March 2023), Total’s Pouget listed restart here as a near-term aim. NOC LEADS NEW DE...
Volume: 67Issue: 03Published at Fri, 19 Jan 2024 -
UAE’s Wait To Tap Into Expanded Capacity Goes On
...r its flagship Murban crude export grade. The last time that Murban averaged more than that was 2014’s $99.45/B, when production of 2.78mn b/d was 270,000 b/d less than last year’s figure. With Murban prices set to drop to around $83/B this year, a sharp fall in revenue is inevitable for 2023. ME...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023