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Reserves At Eni’s Zohr: 30+Tcf?…Just 4? Maybe 6?
...porters who dutifully write up the figures as if they refer to higher-value oil). And it is highly unorthodox that Eni has gone from August 2015 discovery of the “super-giant” Zohr field in the Egyptian deepwater Mediterranean, through the development phase, to first production in December 2017 whilst on...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Bahrain Eyes Unconventional Oil For Economic Reboot
...ng Hamad Al-Khalifa in Manama in August 2017. Manama has been eyeing the potential of its offshore unconventionals for some time. State-owned Bapco’s 2012 Annual Report said it was testing unconventional resources off the South West coast with “potentially significant implications for the Ki...
Volume: 61Issue: 14Published at Fri, 06 Apr 2018 -
OMV Set For Adnoc Offshore
...abi, primarily in the downstream sector. OMV is a partner with Mubadala in petchems firm Borealis, which partners Adnoc in the Borouge joint venture, operator of three polyolefins plants at Ruwais, 240km west of Abu Dhabi city (MEES, 17 November 2017). It also has modest upstream activity. It pa...
Volume: 61Issue: 14Published at Fri, 06 Apr 2018 -
Libyan Crude Exports At 5-Year High
...LIBYA MORE THAN DOUBLED CRUDE EXPORTS* TO 724,000 B/D FOR 2017. ITS RANGE OF DESTINATIONS IS WIDENING... ...BUT THOUGH CHINA TOOK 65,000 B/D AND THE US 57,000 B/D FOR 2017, OVER 77% STILL WENT TO EU COUNTRIES (‘000 B/D) *FIGURES ARE FOR IMPORTS TO GIVEN COUNTRY. LISTED CO...
Volume: 61Issue: 14Published at Fri, 06 Apr 2018 -
Oman: Struggling To Cope With Too Much Gas?
...ock 61 (BP 60%, state Oman Oil Company 40%) started production in September 2017 and hit full Phase-1 output of 1bn cfd earlier this year. MEES estimates this will boost Omani gas output by 20% in 2018 (MEES, 29 September 2017). BP this month took a final investment decision (FID) on the 500mn cfd Ph...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
Algeria Struggles To Maintain Gas Output Amid Project Delays
...les gas output hit 94.5bcm for 2017, only just behind 2016’s record 94.8bcm (MEES, 2 March). But gross wellhead output has actually been in decline since the start of the decade: falling from 146bcm (of which 42% reinjected) in 2010 to 128.5bcm (of which 26% reinjected) in 2016 (see chart). Though gr...
Volume: 61Issue: 12Published at Fri, 23 Mar 2018 -
Qatar Presses Ahead With Major LNG Expansion
...ES, 8 December 2017). When the initial expansion was announced in April, and then doubled in July (MEES, 7 July 2017), QP was contemplating securing gains through a mix of debottlenecking existing facilities and constructing new LNG trains. However, the finalized plan relies entirely on new fa...
Volume: 61Issue: 12Published at Fri, 23 Mar 2018 -
Abu Dhabi Fills Up Two Largest Post-Adma Concessions As Total, CNPC Dive In Offshore
...its official press release title the “strengthening ties with world’s number one oil importing country.” This was the same rationale behind last year’s deal with CNPC and controversial fellow state-firm CEFC for a combined 13% of Adnoc Onshore (MEES, 24 February 2017). CHINA VOLUMES SI...
Volume: 61Issue: 12Published at Fri, 23 Mar 2018 -
Eni Swoops For Abu Dhabi Offshore, Sells Mubadala 10% Of Egypt’s Zohr
...abi state investment firm Mubadala for $934mn. At current production rates, Eni ought to secure around 49,000 b/d net annual production from the two concessions (37,000 b/d for 2017 given its entry from March), rising to 69,000 b/d once the assets reach Adnoc’s planned production targets. Eni pa...
Volume: 61Issue: 11Published at Fri, 16 Mar 2018 -
Iran Makes Russian Breakthrough But Faces Increasingly Heavy Problem
...gning up Total and CNPC to South Pars Phase 11 in June 2017. Russian state firm Zarubezhneft signed a contract to develop two oil fields – 30,000 b/d West Paydar and 6,000 b/d Aban – and will be partnered by domestic firm Dana Energy (an 80:20 split). The Iran oil ministry’s Shana news agency re...
Volume: 61Issue: 11Published at Fri, 16 Mar 2018 -
Egypt Oil Output Slump To Continue. Import Dependence To Deepen
...ll – but not by much. The leap in Egypt’s gas output over the last 18 months has been spectacular – having slumped below 4bn cfd in mid-2016, by the end of 2017 output had rebounded to 5.6bn cfd, just shy of 6bn cfd demand (MEES, 16 February). Oil Minister Tarek El Molla’s target of achieving self-su...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018 -
Rising Libyan Crude Output Hit By Outages At Key Southwest Fields
...e activity of a number of militias operating in different regions of the country generates a high level of insecurity,” Repsol said on 28 February. Sharara output resumed in December 2016 after a two-year outage: average 2017 output of 208,000 b/d was the highest since 2013 (see chart). But both Sh...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018 -
Total Closes Maersk Deal
...Total’s $7.5bn acquisition of Denmark’s Maersk closed on 8 March, barely six months after the plan was announced (MEES, 25 August 2017). Maersk’s net output fell to around 160,000 boe/d for the second half of 2017 after the company handed over its largest asset, Qatar’s 300,000 b/d Al-Shaheen fi...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018 -
Abadi Claims KRG Pipeline Deal As Trucking Plans Fade
...reement has been reached with northern Iraq’s Kurdistan Regional Government (KRG) to export crude oil through the autonomous region’s 700,000 b/d pipeline to Turkey. This raises the prospect of an end to the shut-in of 280,000 b/d of Kirkuk crude (MEES, 20 October 2017). The minister announced the ag...
Volume: 61Issue: 09Published at Fri, 02 Mar 2018 -
KRG Eyes Major Support For Future Output Gains
...bil as it adopts a low profile there. Elsewhere, Chevron finally resumed drilling its Sarta license in late February and expects to announce results from the work in Q3. It had planned on drilling the license in late 2017 but withdrew personnel in the wake of October’s Kirkuk upheaval (MEES, 20 Oc...
Volume: 61Issue: 09Published at Fri, 02 Mar 2018 -
Algeria Gas Set For Record 2018 With Start-Up Of Key Southwest Fields
...Algeria’s 2017 gas output was only just shy of record levels set the previous year. With the second of two key ‘Southwest Gas Project’ components starting up this week, the country can expect new records in 2018. The 24 February start-up of output at the Timimoun gas field makes it the se...
Volume: 61Issue: 09Published at Fri, 02 Mar 2018 -
Saudi Military Shake Up
...hammad bin Salman was the man behind the orders. Since being appointed defense minister in 2015, Muhammad bin Salman has prompted the kingdom to adopt a more proactive role in the region, particularly toward rival Iran (MEES, 24 November 2017). But the recent shake up suggests unease with the current st...
Volume: 61Issue: 09Published at Fri, 02 Mar 2018 -
Adnoc Signs Up Japan’s Jodco At Lower Zakum, But Major Absence Remains
...ncession (Adnoc 60%, Jodco 40%) produces around 30,000-40,000 b/d and unlike the legacy-Adma concession had been operated by the rival Zadco offshore concession until it merged with Adma in October to create Adnoc Offshore (MEES, 30 October 2017). The new deal finalized the increase of Inpex’s Umm al-Dalkh st...
Volume: 61Issue: 09Published at Fri, 02 Mar 2018 -
Iraq Looks To Turkey For Support Up North
...heduled to visit Ankara in the coming days to discuss the resumption of Kirkuk exports to Ceyhan, a key imperative for restarting production at the Avana Dome and Bai Hassan. Federal Iraqi forces retook Kirkuk and surrounding fields last year (MEES, 20 October 2017), but with limited export capacity, No...
Volume: 61Issue: 08Published at Fri, 23 Feb 2018 -
Abu Dhabi Awards Offshore Stake To State-Owned Firm Cepsa
...atistics, with Nigeria the largest supplier in 2017 at 192,000 b/d (MEES, 16 February). Saudi Arabia was the largest Mena supplier at 128,000 b/d, followed by Libya (110,000 b/d). Will 2018 be the year UAE crude enters the Spanish market? This would certainly represent a change in strategy for the UAE, wh...
Volume: 61Issue: 08Published at Fri, 23 Feb 2018