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Bahrain Takes $300mn Oil Revenue Hit From Abu Safah Outage
...om the Awali field operated by state firm Tatweer. Output here averaged 42,700 b/d for Q1, down 6.5% from 45,500 b/d in the same period in 2017. It is also a 10% fall from its October 2016 output of 47,500 b/d, which formed the baseline for its commitment to cut output under the Opec+ agreement (see p4...
Volume: 61Issue: 22Published at Fri, 01 Jun 2018 -
The Dragon Rises In The Middle East
...cember 2017, but only officially signed on 23 May (MEES, 5 January). Finalization of the agreement came less than a month after two other small Chinese firms enjoyed great success in Iraq’s fifth licensing round on 26 April (MEES, 27 April). Of the six blocks awarded, three went to two Chinese firms, wi...
Volume: 61Issue: 21Published at Fri, 25 May 2018 -
Egypt Gas Output At Record Levels As Cairo Launches Bid Rounds
...Egypt gas output is close to topping 6bn cfd for the first time since 2012 as Eni’s flagship Zohr field continues to ramp up. Far from resting on its laurels, Cairo has launched two bid rounds as it hopes to offset high decline rates. The December 2017 start-ups of both Eni’s 21.5tcf Zohr an...
Volume: 61Issue: 21Published at Fri, 25 May 2018 -
Can Egypt Garner Interest In Its Oil Heartlands?
...500 b/d and Burg El Arab 1,700 b/d for 2017. The firm has been shifting away from its Egypt assets towards its Iraq acreage (see p8). Block 11, SE Siwa, is surrounded by acreage operated by Western Desert stalwart Apache, TransGlobe, new player Apex and Eni. The block is just south of Eni’s SW Meleiha bl...
Volume: 61Issue: 21Published at Fri, 25 May 2018 -
Oman Eyes Ambitious Downstream Gas Projects With Total, Shell MOUs
...d 2.71bn cfd of gas in 2017, 67% and 72% of the national total respectively. But development of “several gas discoveries located in the Greater Barik area” is slated to be undertaken by Shell (75%) and Total (25%) rather than PDO. Further down the line, the Omani government may farm back into th...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
China’s Anton Oil Expands Iraq Presence As Shell Exits
...eld, but the Anglo-Dutch major announced last September it would walk away from its 45% stake citing dissatisfaction with Iraq’s cumbersome technical service contract (TSC) effective 30 June (MEES, 22 September 2017). Malaysian state firm Petronas is also relinquishing its 30% stake end-June, leaving Ir...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Qatar Plans For 2019 Drilling To Fuel Massive LNG Expansion
...ntractor McDermott a “Detailed Design” contract for offshore jackets on 5 May as it presses ahead with its major LNG expansion plan. After ending its 12-year moratorium on North Field gas development in April 2017, Qatar swiftly doubled its expansion plan and intends to add 4.6bn cfd (MEES, 7 July 2017...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Oman Finalizes Bangladesh LNG Deal
...Bangladesh state oil firm Petrobangla on 6 May finalized an LNG import deal with Oman LNG, its second such deal after a 2.5mn t/year agreement with Qatar inked last year (MEES, 28 July 2017). The Oman deal is for 15 years. Volumes are slated to rise from an initial 500,000 t/y to 1mn t/y wh...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Egypt’s Western Desert: Is Capex Boost Enough For Output Rebound?
...mpany’s oil output took a while to fall as a result – it peaked at 217,000 b/d in 3Q 2015, it slumped the following year. Rapid decline rates in Egypt mean substantial drilling is needed just to keep output steady. But 1Q 2017’s 195,000 b/d appears to have been a low point. As capex has picked up si...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Egypt Producer Merlon For Sale
...oduction rose to 7,000 b/d in 2015 and 10,000 b/d in 2016 before dipping to 7,900 b/d for 2017 – just over 1% of Egypt’s total output (MEES, 9 March). Output has since fallen back to 7,000 b/d but, Petrosilah, the firm’s JV with Egypt’s state oil firm EGPC, says it hopes to raise output in the coming mo...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Oman: Khazzan Boosts LNG Exports To Record Levels
...Oman’s LNG exports hit a four-year high in 2017. Since then the 1bn cfd Khazzan field has hit full capacity. With domestic demand lagging, 2018 may see Oman fill up its 10.4mn t/y export capacity for the first time ever. Two years ago, Oman’s LNG sector looked in trouble: output had tu...
Volume: 61Issue: 18Published at Fri, 04 May 2018 -
PDO To Invest $5bn/Y To Maintain Its ‘Difficult’ Fields
...tential oil and gas capex savings. This would be a 29% cut from 2017’s $5.8bn spend, reflecting Oman’s stretched finances (MEES, 23 March). PDO is a joint venture grouping Oman (60%), Shell (34%), Total (4%) and Partex (2%). It operates Oman’s massive 90,874km² Block 6. This produced 650,663 b/d last ye...
Volume: 61Issue: 18Published at Fri, 04 May 2018 -
Cyprus Exploration: Crunch Period Nears
...15. 11 Jan13 Total 50%op, Eni 50% July ‘17 well hit sub-commercial gas. Eni farm-in March 2017...
Volume: 61Issue: 18Published at Fri, 04 May 2018 -
Damietta Restart Key To Zohr Exports-Eni
...G under a deal struck that year between Shell and Egyptian state firm EGPC. For 2017 the plant exported 12 cargoes totaling 780,000 tons, according to the recently-released 2017 report of LNG importers group Giignl. India was top customer with three cargoes (190,000 t); Kuwait and Japan took two ea...
Volume: 61Issue: 18Published at Fri, 04 May 2018 -
Iraq Bid Round Flatters To Deceive
...bstantially larger with 2017 gross output of around 80,000 boe/d, of which 80-90% was gas. UEG’s production is all in Pakistan, after acquiring BP Pakistan’s assets for $775mn in 2011. Output has increased under UEG, from around 35,000 boe/d under BP (10,000 b/d oil, 200mn cfd gas). ...
Volume: 61Issue: 17Published at Fri, 27 Apr 2018 -
Iraq’s Southern Infrastructure Constraints Take Their Toll On Export Capacity
...e Jordanian port of Aqaba, with a spur to Jordan’s 70,000 b/d Zarqa refinery (MEES, 3 November 2017). Mr Shatari confirmed the “project is still in place and of course we will go with it. We have to have another outlet for our crude oil and not depend entirely on the Gulf area and Ceyhan.” The 1m...
Volume: 61Issue: 17Published at Fri, 27 Apr 2018 -
Waha: Total Says Done & Dusted, Libya Thinks Otherwise
...November 2017). Whilst there has been little recent talk of the Waha partners coming under similar pressure, it would have been surprising if Marathon had been allowed to transfer these privileged terms to another firm without this catching NOC’s eye. “The terms of the concession did not ch...
Volume: 61Issue: 17Published at Fri, 27 Apr 2018 -
Kuwait Presses Ahead With Development Plans, Eyes New Contract Model
...nstructed by UK services firm Petrofac. Currently around 20,000 b/d heavy crude is being produced from Ratqa, Umm Niqa and Sabriya (MEES, 2 June 2017). Mr Jaafar tells MEES that further heavy oil development will be carried out through the installation of further modular 60,000 b/d CPFs. The next phase is...
Volume: 60Issue: 16Published at Fri, 20 Apr 2018 -
Kuwait’s Belated Jodi Stats Show Crude Exports Hitting 75% Of Output
...Kuwait’s Belated Jodi Stats Show Crude Exports Hitting 75% Of Output Kuwait opted to resume submitting data to the Riyadh-based Jodi organization this week. Until this week, the latest data was for October 2017, but Kuwait is now fully up to date having provided full figures up to Fe...
Volume: 61Issue: 16Published at Fri, 20 Apr 2018 -
Eni Plans For Libya Output Drop
...are of overall oil and gas output. The firm reported net oil and gas production in Libya of 270,000 boe/d in 2010, falling to around 230,000 boe/d in 2013-14. But the past three years have seen an increase in Eni's reported net output, to around 350,000 boe/d in 2015-16 and 374,000 boe/d in 2017. It's po...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018