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Kuwait’s Extends Shell’s Key Upstream Role
...SA, which runs for 10 years (MEES, 21 March). There have been no subsequent ETSAs awarded, despite previous plans to award new contracts for heavy oil development (MEES, 2 June 2017) and for West Kuwait (MEES, 20 April 2018). Plans to develop a new contract model have also yet to reach fruition (ME...
Volume: 68Issue: 18Published at Fri, 02 May 2025 -
Egypt & Eni Plan $1bn-Plus Zohr ‘Phase-3’ To Facilitate Cyprus Tie-Backs
...nds. The fate of Egypt’s gas output has gone hand in hand with the country’s largest producer Zohr since the Eni-operated field’s late 2017 start-up. Zohr output initially soared to peak at 2.96bn cfd for 1Q 2021 but had slumped to 1.5bn cfd by early this year following water breakthrough issues that be...
Volume: 68Issue: 17Published at Fri, 25 Apr 2025 -
Iran Dreams Of Future Upstream Boom, Eying IOC Return Should US Deal Be Reached
...ich signed up to the giant South Pars gas field’s Phase 11 project (MEES, 23 July 2017). Tehran failed to capitalize on the interest, electing for lengthy negotiations, qualification processes and unrealistic ‘technology transfer’ demands, and ultimately lost investor confidence (MEES, 22 December 2017...
Volume: 68Issue: 17Published at Fri, 25 Apr 2025 -
Saudi Slashes Jan-Feb Oil Burn; Can It Maintain The Progress?
...at fuel oil shipments to Saudi facilities (including seaborne domestic transfers) have started the year at multi-year lows (see chart 4). The Q1 average of 240,000 b/d was the lowest three-month average in Kpler data stretching back to 2017. This marked a significant drop from 318,000 b/d one ye...
Volume: 68Issue: 17Published at Fri, 25 Apr 2025 -
Eni Revises Up Zohr Reserves But Output Decline Continues
...ar-on-year, gives cumulative production since the field started up in late 2017 of 5.34tcf, implying an original recoverable resource of 9.84tcf (see chart 1). Zohr’s slump has been the key driver in Egypt’s overall gas output decline, with the field making up 37% of last year’s eight-year low 4....
Volume: 68Issue: 15Published at Fri, 11 Apr 2025 -
OPEC Secretary General: ‘Data-Driven Messaging More Important Than Ever’
...it the data that led the IEA Executive Director to say in 2017, “We don’t see a peak in oil demand any time soon”? Or the data that led the Executive Director to say in 2022, “Global oil demand will peak before 2030.” Which IEA data has ‘won’ regarding peak gasoline consumption? The IEA stated in...
Volume: 68Issue: 15Published at Fri, 11 Apr 2025 -
GCC Deepens Africa Ties, Starting 2025 With Record Oil Product Exports
...ate energy firm OQ has also expanded into distribution in Africa. It took a 40% stake in Kenya-based Hass Petroleum through its subsidiary OQ Trading back in 2017. The company operates more than 150 retail stations across nine countries in central and east Africa. Oman, like other countries in the GC...
Volume: 68Issue: 15Published at Fri, 11 Apr 2025 -
Egypt Eyes Summer Power Needs, Looks To Limit LNG Spending
...asing their FSRUs, but with the deal to take the Energos Power seemingly close, those talks have not progressed. EGYPT LNG *IMPORTS BY ORIGIN: Q1 IMPORTS RISE TO 1.10MN TONS, HIGHEST FIRST QUARTER SINCE 2017 AS US REMAINS TOP SUPPLIER BY SOME DISTANCE (MN TONS) *IMPORTS ZERO 4Q18-1Q24. SO...
Volume: 68Issue: 15Published at Fri, 11 Apr 2025 -
Iraq Targets 1.54mn B/D Refining Capacity With Relaunch Of 150,000mn b/d Missan Plans
...pacity since 2017, when the country was struggling to cope with the aftermath of the 2014 destruction of its largest refinery, the 290,000 b/d Baiji complex, by Islamic State (MEES, 26 September 2014). Mr Sudani says the new refining additions are part of his government’s efforts to maximize the value de...
Volume: 68Issue: 14Published at Fri, 04 Apr 2025 -
Kuwait Debt Law Breakthrough: A New Era For Investment?
...ll enable the government to issue debt for the first time since the expiry of the previous financing and liquidity law (called the public debt law) in 2017” (MEES, 7 April 2017). The IMF put Kuwait’s debt at just 3.2% of GDP as of end-2023, and expects this to gradually rise to 25% by 2032 with th...
Volume: 68Issue: 14Published at Fri, 04 Apr 2025 -
Israel’s Finance Ministry Seeks Chevron Tamar Ouster
...nin to Energean (MEES, 8 December 2017). Sources within the Tamar partnership believe the dispute will eventually be “resolved amicably” although it could drag out and could potentially impact Chevron’s decision to further invest in Israel. ISRAEL GAS EXPORTS (MN CFD): EGYPT TOOK 78% OF THE 20...
Volume: 68Issue: 13Published at Fri, 28 Mar 2025 -
Egypt Gas & Oil Output Continues Decline In 2025
...w output (MEES, 7 March). *Decline from the country’s number three gas province, the onshore Nile Delta, has been severe, falling to just 332mn cfd for January, the lowest since mid-2014 and a far cry from the record 1.378bn cfd posted in August 2017. A key producer here is UAE firm Dana Ga...
Volume: 68Issue: 12Published at Fri, 21 Mar 2025 -
BP Seeks To Build On Historic Middle East Foundations In ‘Return To Upstream’ Strategy
...ream. BP returned to the remodeled concession in December 2016, after the original concession agreement expired in 2014, and the current agreement runs until end-2054. Return to Adco lifted BP’s net Abu Dhabi output to a record 257,000 b/d in 2017, but after the offshore Adma concession expired at the en...
Volume: 68Issue: 12Published at Fri, 21 Mar 2025 -
Kuwait Seeks Chinese Help With Solar Expansion
...untry’s power generation , just 0.16TWh for 2024 (see chart 1). The park’s current facilities were commissioned in stages from 2017 to 2019 to serve as a test bed for deploying renewable energy technologies in Kuwait, with the government planning to expand Shagaya to 4.5GW through multiple phases (MEES, 28...
Volume: 68Issue: 12Published at Fri, 21 Mar 2025 -
Oman State Upstream Firm Targets 2025 Growth Via Acquisitions & Upgrades
...sat oil field in 2017 and its ramp up through the construction of the Bisat A, B, and C crude processing facilities. OQEP is now expanding the Bisat C facility to take overall crude processing capacity from 60,000 b/d to 65,000 b/d with the expanded capacity to be ”commissioned in Q3 2025.” Last ye...
Volume: 68Issue: 11Published at Fri, 14 Mar 2025 -
Egypt Eyes Takers For Undeveloped Offshore Gas Finds
...e UK major in November 2022. It was followed up in 2017 with the Salamat West discovery, which also lies in the on-offer block. Salamat, like Satis, is an Oligocene discovery, and drilled to a total depth of 6,881ms in water depth of 650ms. EUG pegs the Salamat block’s gas in place at 3....
Volume: 68Issue: 11Published at Fri, 14 Mar 2025 -
Iran Signs Local Firms For $17bn, 90tcf South Pars Gas Recovery Boost
...at rapid development of Qatar’s portion of the field could result in migration of gas across the boundary. Qatar previously maintained a 12-year moratorium on further expansion of the field which only ended in 2017 following extensive reservoir studies to determine the optimal development rate. Mr...
Volume: 68Issue: 11Published at Fri, 14 Mar 2025 -
Oman Taps BP’s Giant Khazzan Gas Field For LNG Boost
...fining change: the discovery and development of the massive Khazzan unconventional gas field on Block 61 in the center of the country. Back in 2017, BP brought the 1bn cfd Khazzan first phase online, followed by a further 500mn cfd under the second phase Ghazeer expansion in 2020. Capacity has been at...
Volume: 68Issue: 10Published at Fri, 07 Mar 2025 -
Egypt: Apache Eyes Gas Gains As Eni Output Slumps
...an half the 3Q 2015 peak of 1.412bn cfd. As such national gas output is back at levels last seen before the 2017 start-up of Eni’s giant Zohr offshore field. ENI: ZOHR SLUMP And falling output at Zohr itself is a key part of the reason. Production has fallen to less than ha...
Volume: 68Issue: 10Published at Fri, 07 Mar 2025 -
Aramco Approaches Finishing Line For Offshore Crude Increments
...AVY Aramco says that it ended 2024 with 189.8bn barrels of proved crude and condensate reserves, down from 191.3bn barrels last year and 204.8bn barrels in 2017 – the highest figure on record. The firm is hopeful that it will be able to tap into more of its reserve base from now on, with Saudi Ar...
Volume: 68Issue: 10Published at Fri, 07 Mar 2025