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Iraqi Parliament Snubs Kurds To ‘Pass 2013 Budget’
...dinary citizens. What local job creation there has been is confined overwhelmingly in the poorly paid security sector (MEES, 21 November 2011). This has encouraged over-exaggeration of security needs and essentially given locals an incentive for there to be a need for a heavy security situation. The Ca...
Volume: 56Issue: 10Published at Fri, 08 Mar 2013 -
Libyan Instability - The New Normal
...December by protests of locals demanding work. On several occasions in Repsol’s recent 2012 results presentation the company’s Libyan production was said to have returned to “normal” – the key reason the company was able to raise its overall production to 332,000 b/d for 2012 from 299,000 b/d for 2011...
Volume: 56Issue: 10Published at Fri, 08 Mar 2013 -
Abu Dhabi Continues Onshore Oil Fields Uncertainty
...abi Company for Onshore Operations (ADCO) The confusion is continuing into its fifth year. Twice in 2011 ADNOC told ADCO that it expected the SPC to make a decision that year on extending the concession. It had also told them it would do this in 2010 and before that in 2009. A th...
Volume: 56Issue: 09Published at Fri, 01 Mar 2013 -
Apache Hit By Egyptian Permit Delays
...uple of key projects in the works will modestly raise output over the coming two years. But the relative importance of Egypt for Apache continues to slide. Apache’s gross Egyptian crude production dipped 2% from 2011’s record levels to 213,000 b/d for 2012. But with 32% of Egypt’s total ou...
Volume: 56Issue: 09Published at Fri, 01 Mar 2013 -
Total Drilling Plans Fail To Disguise Egypt Deepwater Exploration Stalemate
...ch well since Shell relinquished its giant 42,000 sq km Northeast Mediterranean Deepwater (NEMED) concession in early 2011. The latest well, in 1,500ms of water, will target deep Nile Basin deposits and is expected to cost at least $100mn. East El Burullus, also known as Block 4, was one of fo...
Volume: 56Issue: 09Published at Fri, 01 Mar 2013 -
Security Vacuum Delays POGC Drilling Restart
...08 bidding with a commitment to drill eight wells. None has yet been spudded, although the company was in the process of mobilizing a rig for a 2011 drilling campaign when Libya’s revolution kicked off in February that year (MEES, 2 April, 2012). POGC lifted force majeure in November with th...
Volume: 56Issue: 09Published at Fri, 01 Mar 2013 -
Gas, Infrastructure Challenges Loom Larger For Baghdad
...otests against widespread blackouts in summer forced the sacking of electricity ministers in both 2010 and 2011. BGC, while still not formally created, has managed to boost gas processing from 250mn cfd to 400mn cfd since the contract was signed in late 2011. It has implemented major training pr...
Volume: 56Issue: 08Published at Fri, 22 Feb 2013 -
UAE Gas Projects Advancing Towards Completion
...ring peak summer demand. Subsidized gas prices drive high demand levels: according to the same report, gas demand in the UAE increased by around 45% in the five-year period between 2006 and 2011. Since Mr Hamili has ruled out the possibility of raising gas tariffs in the UAE, conservative estimates su...
Volume: 56Issue: 08Published at Fri, 22 Feb 2013 -
Tullow Consolidates Mauritanian Position Ahead Of Key Drilling Campaign
...Petronas 13.5%, Kufpec 11.1%, Premier 6.2%, SMH 10% Remainder of former PSC A&B after discoveries hived off in Oct 2011. 3Q13 well targets ‘Tapendar’ C-18 90%op SMH 10...
Volume: 56Issue: 08Published at Fri, 22 Feb 2013 -
South Sudan Plots New Oil Concession Sales
...nth, representing 98% of government revenues. The country’s output was halted after it accused Khartoum of confiscating around $815mn worth of its crude as it flowed through Sudan to the Red Sea for export. Despite breaking away from Sudan in July 2011, South Sudan is still dependent on Sudan fo...
Volume: 56Issue: 08Published at Fri, 22 Feb 2013 -
Egypt Struggles With Gas Supply Challenge
...ost domestic production from deepwater deposits. Egypt’s gas production has edged lower for each of the past three years since peaking at 62.7bcm in 2009. Production of 60.6bcm for 2012 was 3% down on 2009 and a further 0.6bcm/year (60mn cfd) down on 2011 (see graph and table). Output for th...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
BG Egypt Output Hit By WDDM Compression Failure
...’s flagship WDDM project did rise by 9% to 6.5bcm for 2012 stemming three years of continuous decline including a precipitous 17% fall in 2011 (see graph). However the 2012 rebound was much more modest than the 7.7bcm rise BG had anticipated. Nine new development wells were drilled during 20...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
Japanese, French, Move To Secure Abu Dhabi Concessions
...vember 2010). A Bigger Prize The November 2010 package helped secure the renewal of some small offshore concessions in early 2011. This time Tokyo is aiming for a bigger prize – a stake in major onshore producing fields when the ADCO concession ends. Upstream firm Inpex, through its Abu Dh...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
Sanctions Cost Iran $40Bn In 2012, IEA Says
...e region of $40bn in oil export revenues last year, as its crude oil exports sunk to an average of 1.5mn b/d – down nearly 1mn b/d from 2011 levels, the International Energy Agency (IEA) said on 13 February. “A back-of-the-envelope calculation shows Iran lost just over $40bn in export revenues in 20...
Volume: 56Issue: 07Published at Fri, 15 Feb 2013 -
QP Considers Next Step For North Field
...e Iranian side of the field – productivity of recently opened phases has fallen, while another drilled a dry hole, and salt water is increasingly entering some South Pars wells (MEES, 12 December 2011). Furthermore, Iran gives unreliable reports about how much gas it intends to extract and the ti...
Volume: 56Issue: 06Published at Fri, 08 Feb 2013 -
Iraqi Production Rise Hits Hiccup
...IRAQ Iraqi Production Rise Hits Hiccup By Rafiq Latta Iraqi production surged last year by some 300,000 b/d compared to 2011, and 2012 levels stand some 700,000 b/d higher than 2008, despite well-publicized delays on projects and a cut-off in Kurdistan Re...
Volume: 56Issue: 06Published at Fri, 08 Feb 2013 -
In Amenas Fallout Continues As BP And Statoil Weigh The Options
...around 3.5bcm/y – a message repeated by Mr Yousfi on 5 February. Evaluation of damage to the plant continues, Mr Yousfi added. Lost Production In Amenas output averaged 7.8bcm for both 2011 and 2012 – 10% of Algeria’s total commercial gas production – significantly below the plant’s 9b...
Volume: 56Issue: 06Published at Fri, 08 Feb 2013 -
Egypt: Eni Digs Deep
...om “at least two” planned 2013 development wells – slated to produce 2,000 b/d each – targeting the Upper and Lower Safa. Production will be delivered to the existing Melehia facilities. 2011 production, all from shallower reservoirs, was 19,000 b/d. Output has since risen sharply, with pr...
Volume: 56Issue: 06Published at Fri, 08 Feb 2013 -
Oman Energy Sector Changes Could Impact DME Benchmark
...ading volume on the DME climbed 25.7% to 103,904 contracts from 82,671 in December 2011. Oman crude futures is the DME’s only contract and acts as the benchmark for Oman and Dubai official selling prices (OSPs). The Oman and Dubai governments launched the DME in 2007 to create transparent pr...
Volume: 56Issue: 06Published at Fri, 08 Feb 2013 -
Oman Addresses Crude Production Challenges, PDO Output Rises
...ude output. In December 2012 Oman’s crude and condensate output reached 933,000 b/d, up from 2011’s 884,900 b/d average. Crude output from the country’s main producer, Petroleum Development Oman (PDO), rose to 566,000 b/d from last year’s 549,000 b/d, and its condensate fell slightly to 92...
Volume: 56Issue: 05Published at Fri, 01 Feb 2013