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IEA’s World Energy Outlook: Review And Discussion Of MENA Deferred Investment Case
...S. In terms of production, lower investment in MENA reduces global oil production by 3.8mn b/d at its 2017 peak and 1.5mn b/d in 2035, compared with the NPS. The shortfall in MENA production, of some 3.4mn b/d in 2015, peaks at around 6.2mn b/d in 2020 by which time it is partly compensated by an in...
Volume: 55Issue: 08Published at Mon, 20 Feb 2012 -
MENA Energy Investment: Broken Momentum, Mixed Outlook
...ficially inaugurated in August 2010 (to be only partially operational a year later), Abu Dhabi’s first such plant is not expected before 2017. 5. A Aissaoui, ‘MENA Natural Gas: A Paradox of Scarcity Amidst Plenty’ (MEES, 27 December 2010). 6. $90/B reflects increasing costs of production from en...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
From Glass Box To Smoke-Filled Room: How Rumaila Contract Was Renegotiated
...tural resources. The issue is especially pertinent, as the total Iraqi production according to the contracts awarded in the two auctions of 2009 is projected to be over 12mn b/d by 2017, up from around 2.5mn b/d today. If this were achieved, it would crash the oil price, and Iraqis would get less in...
Volume: 54Issue: 36Published at Mon, 05 Sep 2011 -
MENA And Carbon Capture
...bsidiary was granted approval to fit a CCS system on a Canadian power plant, the CO2 to be used for EOR. By 2017, Bloomberg New Energy Finance estimates that 3.2 gw of CCS-equipped systems will be running – close to half today’s solar power output. Carbon Capture’s Significance For MENA Widespread ad...
Volume: 54Issue: 31Published at Mon, 01 Aug 2011 -
A Realistic Outlook For Iraq's Oil Production In 2030
...e contracts concluded between the Iraqi Ministry of Petroleum and international oil companies, Iraq’s crude oil production is supposed to increase from 2.5mn b/d in 2010 to approximately 12mn b/d in 2017. However, projections by international energy agencies are underestimated. The following are so...
Volume: 54Issue: 27Published at Mon, 04 Jul 2011 -
Iraq’s Upstream Oil Contracts, 2011 And Beyond
...atures 143bn barrels of proven oil reserves (plus an estimated 30bn barrels in Iraq’s Kurdistan region), a four-year oil production plan targeting 6.5mn b/d by the end of 2014, and a contracted daily capacity expansion plan of more than 12mn b/d by the year 2017. Figure 1: Geographic Di...
Volume: 54Issue: 22Published at Mon, 30 May 2011 -
Iraq’s 20 Years Electricity Master Plan
...s reports and in the media, but also less than half of what is plotted in the plan’s chart for the two past years. Furthermore, the plan envisages a utilisation factor in excess of 75% from 2013, climbing to around 85% from 2017. In the quarterly report of the January 2010, the US Special In...
Volume: 54Issue: 06Published at Mon, 07 Feb 2011 -
Future Global Need For The Increase In Iraq’s Oil Production
...low, Iraq has signed a number of contracts with major oil companies with a view to increasing its oil production from 2.5mn b/d to around 12mn b/d in 2017. Iraqi Upstream Awards Area Winning Consortium Remuneration Fee ($Bn...
Volume: 53Issue: 50Published at Mon, 13 Dec 2010 -
Iraq’s Oil Expansion And Market Stability
...re to produce a massive 9mn b/d capacity increment – bearing in mind the Iraqi oil ministry’s recent avowal of a target of around 12mn b/d by 2017. This presupposes that other OPEC members would be forced to minimize their own production quotas drastically enough to allow Iraq this immoderate ou...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Iraq And The Security Of Energy Supplies For Europe
...d-2009 to a plateau of about 11.7mn b/d sustainable for the six consecutive years of 2017-22 and generating a substantive influx (trillions of dollars) of oil export revenues for a duration of 20 years. There will also be 820mn cfd from the three gas fields mentioned above and significant associated gas, es...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
MENA Energy Investment Outlook: Recovery Despite Uncertainty
...pected before 2017. 2. In a move to cut project costs, some project sponsors within the MENA region have had to rethink their contracting strategies, combining LSTK with Open Book Reimbursable Contracts (OBRC) through conversion agreements. 3. This has been developed in: A Aissaoui, ‘Powering the Ar...
Volume: 53Issue: 40Published at Thu, 14 Oct 2010 -
Iraqi Oil Fields Development: Profiles Of Production, Depletion And Revenue
...melines and production targets, their total production capacity would reach a peck of 11.815mn b/d, sustained for the six consecutive years 2017-22. For each oil field, annual production over the 20 years of the contract period was calculated according to the plateau production period (PPP) and their re...
Volume: 53Issue: 30Published at Mon, 26 Jul 2010 -
A Tentative Forecast For Iraq’s Oil Production 2010-20
...at three times the present production capacity of 2.5mn b/d and double the highest rate Iraq achieved in 1979. In the Second Licensing Round in December seven more fields (reserves conservatively estimated at 35bn barrels) were awarded. Another 4.8mn b/d of production capacity may be added by 2017...
Volume: 53Issue: 06Published at Mon, 08 Feb 2010 -
Iraq’s TSC And PSC Agreements – A Good Deal For Iraq?
...ans. If oil production grew substantially from 2010 as aggressive development drilling brought new fields online and drained more oil from established fields, Iraq oil and gas production could be increased by 45-150% in four-five years. Iraqi oil production is expected to peak in 2017 at 2.325mn b/d (Ib...
Volume: 53Issue: 03Published at Mon, 18 Jan 2010 -
Iraqi Capacity Expansion Relative To World Oil Market Trends
...mber of IOCs, Iraq’s production capacity is set to reach a production plateau of over 11mn b/d by the year 2017, mainly from the development of the ‘supergiant’ oilfields of Rumaila and West Qurna-1, together with Zubair; and also from the subsequent (second) round of negotiations for the development of...
Volume: 52Issue: 51/52Published at Mon, 28 Dec 2009 -
Iraq’s Technical Service Contracts – A Good Deal For Iraq?
...fer for the West Qurna 1 project (southern half of the West Qurna field) combined a Remuneration Fee per Barrel (RFB) of $1.90/B with a seven-year plateau production rate of 2.325mn b/d to be reached by 2017. Capital and operating costs were set at $25bn each over the life of the TSC (20 years ex...
Volume: 52Issue: 47Published at Mon, 23 Nov 2009 -
The Rush For Oil: Iraq’s Oil Capacity Potential And Regional Geopolitics
...oduction increments would come from the improved production rates in the producing field and the first commercial production in the green fields in 2011 and considerable capacity additions would be achieved by 2013. However, by 2016 and 2017 all fields will be hitting their production plateau target. The th...
Volume: 52Issue: 45Published at Mon, 09 Nov 2009 -
The Economic Costs Of A War In Iraq
...e first year, despite the size of the deficit increase in that year being the same. Expectations of future deficits are important. The investment fall is also of a much longer duration. It is 2017 before investment is above baseline. The extra budget financing requirements means long term real in...
Volume: 46Issue: 13Published at Mon, 31 Mar 2003