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Mauritania Dreams Of Gas Riches As Kosmos Touts 8 Tcf Find
...uritania, which in recent years has looked like a country with a hydrocarbons past, rather than a future. Output from the one producing oil field, Chinguetti, (Mauritania has no gas output) dwindled to a mere 5,400 b/d for 2014. With operating costs rising to $52/B, and an estimated $59/B for 2015, only ju...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Libya: Industrial Unrest Highlights Fragility Of Output
...ve been up and running since the end of 2014, following a shut down in early November (MEES, 13 March). The field had been offline for much of the second quarter of 2014, but had resumed production in June 2014 (MEES, 25 July 2014). The closure of El Feel takes Eni’s total liquids production from ar...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Qatar Seeks New IOC Partners To Develop Al-Shaheen Oilfield
...serves and attaining its ambition of becoming the world’s largest LNG producer and exporter (see p8). The emirate also took significant steps to diversify its downstream sector. Crude production averaged 660,000 b/d in the first quarter of this year from an average 710,000 b/d in 2014, according to MEES es...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Iran Readies Upstream Opening In Anticipation Of Nuclear Deal
...an’s oil ministry is bent on raising crude oil output back to pre-sanctions levels of around 3.7mn b/d from just 2.8mn b/d in 2014, and in turn reclaiming Iran’s spot at Opec’s second largest producer – a title it lost to Iraq in 2012, after sanctions on Iran’s crude exports were implemented, forcing it...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Japan’s Inpex Adds Onshore Abu Dhabi Stake To UAE Portfolio
...hind Saudi Arabia as a supplier to the land of the rising sun. All but 20,000 b/d of this (Dubai crude) comes from Abu Dhabi, with Murban (320,000 b/d) the largest single grade for 2014, though Murban was just edged out by the new DAS blend, formed from the comingling of former Umm Shaif and Lower Za...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Eni Ramps Up Western Desert Output As Cairo Looks To Cut Through Red Tape
...phisticated drilling techniques including hydraulic fracturing (MEES, 30 January). On 9 January, Eni announced it had been awarded the South-West Melehia block in the Western Desert, following the EGPC 2013 bid round (MEES, 3 January 2014). The field borders the firm’s Melehia block to the southwest and US...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Petroceltic Upbeat On Ain Tsila As Sonatrach Calls For Cost Cuts
...rst 12 drilling locations – all in the northern part of the field – already selected and approved. The agreement with Sinopec follows the front-end engineering and design (FEED) award to Chicago Bridge and Iron of the US in September 2014. The next key step in the project’s implementation will be...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Iraq Out Of Pocket As It Boosts Oil Payments To IOCs
...d a larger stake for BP and its partner, Chinese state firm CNPC. The Iraqi oil ministry has admitted to difficulties in paying the companies, which it says are still owed $9bn in arrears for 2014. It has to raise an additional $18bn this year to pay the IOCs at a time when its own revenues are fa...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
UAE: South Koreans Hope To Expand Presence Through Adco
...e so-called legacy partners. Total, BP, Shell and ExxonMobil each held a 9.5% stake in the former Adco concession, which expired at the start of 2014. Adnoc decided to open the playing field to a wider selection of potential players in an effort to bring in more of its main crude oil buyers, pa...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
BP: Khazzan Unaffected By Oil Price Slump
...cade (bar 2014, when output fell 1% versus 2013), Oman continues to face a gas shortage as demand growth, driven by the country’s numerous gas-hungry enhanced oil recovery projects, continues to outstrip supply, also having implications for LNG exports (see p10 and MEES, 17 April). PHASE 1: EN...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Italy’s Enel May Exit Algeria’s Upstream
...€2bn and already in execution, and another €2bn worth of assets already identified. The remaining €1bn will consist of extra assets that will be pinned down in the next years. Enel is a key Italian importer of Algerian gas. However volumes have slumped from 25 bcm for 2010 to a mere 6.7 bcm for 2014...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Kuwait Finds New Oil At Home As It Goes Shopping In Tunisia
...ture upstream assets, successful exploration acreage as well as mid- and downstream assets. ENI TUNISIA OUTPUT 2009 2010 2011 2012 2013 2014...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Egypt Cancels Summer In Bid To Avoid Power Cuts
...ate gas firm EGAS for five years under a deal signed in November last year (MEES, 7 November 2014). Egypt plans to install a second FSRU at Ain Sukhna from July, but as yet no announcement has been made regarding the supplier. The ministry has since December finalized deals to import 76 LNG ca...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
PDO Accepts Oman Oil Ministry Challenge To Drive Push To 1mn b/d
...ny years about the 550,000 b/d [plateau], and now we’re ramping up,” PDO managing director Raoul Restucci said at the MOG’s annual media briefing in Muscat on 13 April. “We will increasingly present to you a 600,000 b/d plateau, not just for one year, but for…ten years.” Shell-led PDO, which in 2014...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Oman’s Offshore Hopes Take Hit With Total Exit
...ices were higher.” Oman is currently producing from just one of its seven offshore concessions – Block 8, which is operated by Middle East-focused Norwegian independent DNO. Output from Block 8 averaged 15,678 barrels of oil equivalent per day (boe/d) for 2014 DNO says: around 8,500 b/d oil, and 43...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Qatari LNG Faces Up To Uncertain Global Climate
...QATAR Qatari LNG Faces Up To Uncertain Global Climate With the global LNG market going through radical changes, Qatar is in no hurry to boost output. But it will have to adapt its approach to protect its revenue. Qatar’s LNG exports reached 76.37mn tons in 2014, down 2% from 20...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Qatar Gears Up For Growing US Condensate Exports, And Middle East Competition
...d of 2014 as the country favored cheaper coal and LNG for power generation. With the start of Barzan next year, Tasweeq will reach full export capacity in 2016. According to RasGas, Barzan will yield 22,000 b/d of field condensate and 6,000 b/d of plant condensate, as well as 34,000 b/d of et...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
End Of The Road For Cyprus ‘Gas Hub’ Dreams
...VELOPMENT PLAN’? In some ‘good news,’ Noble says it will submit a development plan for Aphrodite in the second half of this year (MEES, 20 March). However, in something of a Kafkaesque twist, this supposed development plan – or at least the version of it mentioned in Delek’s recently-released 2014 an...
Volume: 58Issue: 15Published at Fri, 10 Apr 2015 -
Sudan’s Oil Plans Set To Fall Victim To Reality
...d-2015, the Ministry of Petroleum says, up 20,000 b/d on the 2014 average of 120,000 b/d. This comes as part of the ministry’s highly ambitious medium-term plan, unveiled in 2013, which envisages output ramping up to beyond 300,000 b/d by end-2017, in an attempt to replace at least some of the volumes it lo...
Volume: 58Issue: 15Published at Fri, 10 Apr 2015 -
Chevron’s Neutral Zone Operation At Risk As Output Falls
...rgest, are the US company’s only producing asset in the Middle East. Operations have been constrained since the start of 2015, the company says in its freshly-released 2014 annual report. The PNZ accounted for 4.6% of Chevron’s overall liquids production for 2014, down from 4.9% for 2013 (see graph). Th...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015