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Abu Dhabi Plans Further Offshore Reshuffling
...pplier (with just under 300,000 b/d for H1 2017), with Thailand in turn Abu Dhabi’s #3 customer (see data, p17). PTT has both production and development projects in Algeria and is a pre-qualifier for Iranian upstream awards. Russian state-firm Rosneft was prequalified for Adco but in the end didn’t su...
Volume: 60Issue: 32Published at Fri, 11 Aug 2017 -
Egypt Oil Output: Apache Looks To Low Hanging Fruit For Output Rebound
...Whilst gas has grabbed the headlines since Eni’s mid-2015 Zohr discovery, oil production has remained on a downward trajectory. Egypt’s crude and condensate output averaged just 623,000 b/d in the first half of 2017, the lowest for any comparable period since 1981. Egypt was a net crude ex...
Volume: 60Issue: 32Published at Fri, 11 Aug 2017 -
Iraq Makes Progress On Chronic Gas Shortage
...average 711mn cfd over the course of 2017 and plans to hit 1bn cfd the following year. So far this year, Iraq is certainly posting strong gains. Sales gas volumes are up 20% in the first half of the year to average 1.12bn cfd. The proportion of gas flared has fallen from 64.4% to 59.0% over th...
Volume: 60Issue: 32Published at Fri, 11 Aug 2017 -
Offshore Exploration: What Chance Of A Rebound?
...cent Q2 results of taking advantage of lower prices to increase investment in long-term projects. Exxon plans to increase capex over the coming years – albeit modestly. “As a rule going forward we are sticking with around $22bn in 2017, slowly ramping up [to $25bn] through the end of the decade,” IR...
Volume: 60Issue: 32Published at Fri, 11 Aug 2017 -
Zohr Almost There As Egypt Plots Further Gas Gains
...ntracted by Eni to drill two wells offshore Cyprus at the end of 2017 and start of 2018. “Regarding our wells in Cyprus, we plan to restart a drilling campaign before the year end with new wells, two additional wells, to be drilled back-to-back,” Chief Exploration Officer Luca Bertelli says. Eni op...
Volume: 60Issue: 31Published at Fri, 04 Aug 2017 -
Libya: Cautious Optimism With Output At 3-Year High
...C? Output from the key Sharara fields in the southwest of Libya averaged 189,000 b/d in Q2, and 251,000 b/d in June according to figures given in the H1 2017 interim report of Spain’s Repsol, leader of the Akakus JV which operates the fields. Repsol’s net figures were 23,000 b/d for Q2 and 29,800 b/d fo...
Volume: 60Issue: 31Published at Fri, 04 Aug 2017 -
Genel Makes Profit in H1 2017, Clock Is Ticking On KRG Gas Plans
...Despite KRG-focused Genel Energy’s production collapsing, the firm swung to profit in H1 2017. Reduced oil output means gas development is more important than ever. The precipitous collapse in Taq Taq output has seen Genel’s only producing operated-field fall to barely 25% of the firm’s ne...
Volume: 60Issue: 31Published at Fri, 04 Aug 2017 -
Oryx Experiences More Hawler Delays
...d-2016 (MEES, 12 May). With focus shifting from Hawler’s disappointing Demir Dagh field to Zey Gawra, Oryx said in a December 2016 presentation that it was targeting 12,000-15,000 b/d by end-2017, but this will be another missed target. Its planned capex for the second half of 2017 has been slashed from $29...
Volume: 60Issue: 31Published at Fri, 04 Aug 2017 -
Kuwait Eyes Long-Delayed Jurassic Gas Expansion
...considerable confidence that these ambitious targets will be met. Certainly, Kuwait has stepped up gas drilling activity this year according to data from US service firm Baker Hughes. It averaged 12 active gas drilling rigs in the first half of 2017, up from 8 in the same period in 2016. Th...
Volume: 60Issue: 30Published at Fri, 28 Jul 2017 -
Total Shrugs Off Regional Tensions, Eyes Further Qatar Projects
...Nearly 30% of Total’s liquid production came from the Middle East and North Africa in the first half of 2017, slightly up year-on-year. Net volumes averaged 384,000 b/d and are set to rise some 23% in the current quarter with the firm taking over as operator at Qatar’s 300,000 b/d Al-Shaheen oi...
Volume: 60Issue: 30Published at Fri, 28 Jul 2017 -
Upstream Investment: Are Shortfall Fears Overblown?
...ergy Investment 2017’, released last week. Upstream spending is two-thirds of total oil and gas investment, which fell by 26% to $650bn, a cumulative 2014-16 fall of 38%. Global spending on pipelines fell by 15% to $130bn whilst that on LNG fell to $25bn in 2016 from $35bn in 2014 and 2015. Th...
Volume: 60Issue: 29Published at Fri, 21 Jul 2017 -
Algeria Re-Tenders 3.6bcm/y Ain Tsila Gas Development
...stream in late 2017 (MEES, 16 November 2012), and then late 2018 (MEES, 21 August 2015). Now it will not be completed until at least 2020. Front end engineering and design (FEED) work on the project was scheduled for 2013, but the award of the FEED contract eventually went to Chicago Bridge and Iron only in...
Volume: 60Issue: 29Published at Fri, 21 Jul 2017 -
Iraq Prioritizes Gas Development, Border Fields
...s first LPG cargo in July 2016. Volumes remain small, though May 2017, at 8,000 b/d saw the highest output so far. IRAQ'S JULY 2017 UPSTREAM OFFERINGS REGION BLOCK as...
Volume: 60Issue: 29Published at Fri, 21 Jul 2017 -
GCC States Double Down On Gas Development
...antities of crude oil. Big plans have been announced for developing gas resources in the GCC, but as yet drilling activity appears relatively muted, and most projects are years away from fruition. The IEA, in ‘Gas 2017,’ it’s five-year global gas market outlook, takes a cautious approach and sees more th...
Volume: 60Issue: 28Published at Fri, 14 Jul 2017 -
Delayed Projects To Shave Cumulative 80bcm From Algeria’s Gas Output By 2020
...gin production last year or early in 2017. In January, then energy minister Noureddine Boutarfa said that the project would be delivered by the end of 2017; French operator Engie’s website also says that “first gas [is] planned [at the] end of 2017.” But this could slip further, even if it is not af...
Volume: 60Issue: 28Published at Fri, 14 Jul 2017 -
Middle East Drilling Continues Unabated Despite Oil Price Uncertainty
...Drilling in the Middle East rose to an 18-month high in June with 406 active rigs, the most since December 2015’s 409 rigs. The rig count average of 401 for the first half of 2017 is a record for the first six months of any year. Drilling in the region has remained at near-record levels ac...
Volume: 60Issue: 28Published at Fri, 14 Jul 2017 -
Libya Oil Output Breaches 1mn B/D
...25mn b/d (MEES, 10 February). 1: LIBYA CRUDE OUTPUT IS AT THE HIGHEST LEVEL IN 4 YEARS (‘000 b/d)... SOURCE: MEES ESTIMATES. 2: …BUT 2017’S INCREASES LAG THOSE TARGETED BY NOC AT THE START OF THE YEAR ^MABRUK OUTPUT REFERS TO JURF OFFSHORE FIELD, OPERATED BY THE NOC/TOTAL MA...
Volume: 60Issue: 27Published at Fri, 07 Jul 2017 -
Egypt Gas Output Hits 3-Year High In May, Target 2018 Self-Sufficiency
...diterranean (WND) and the onshore Nile Delta (Nooros – see chart 2). These gains mean Egypt will “soon” be able to meet 90% of its fuels needs from domestic sources, Mr Molla says. 2017 gas output will likely average around 5bn cfd, still well short of 6bn cfd demand (up from 5.75bn cfd last year) with the de...
Volume: 60Issue: 27Published at Fri, 07 Jul 2017 -
Iraq: Bumper Oil Export Volumes Cushion Impact Of Oil Price Drops
...ficial KRG provinces. But even without the KRG-controlled volumes, the projected 2017 revenue figures are good enough not only to overtake 2016 earnings, but 2015 too. They are, however, still less than 60% of the record-setting 2012, when Iraq took in an average $7.8bn each month. Although Iraq ha...
Volume: 60Issue: 27Published at Fri, 07 Jul 2017 -
Energean Files Karish Development Plan; Bidding Delayed, Again
...d connected to the same FPSO, Energean says. CEO Mathios Rigas says his firm hopes to receive “approval of the FDP as soon as possible in order to be able to reach Final Investment Decision by the end of 2017.” However, investment will not go ahead without more sales deals and – given co...
Volume: 60Issue: 26Published at Fri, 30 Jun 2017