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Growing Gas Shortage Forces Egypt To Import LNG
...ring the current month to import petroleum products and this represents an increase of $200mn from the previous month. Egypt produced 61.3 bcm of gas in 2011 and consumed 49.6 bcm, according to the BP Statistical Review of World Energy June 2012. It exported 8.6 bcm in the form of LNG. Pi...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
South Sudan Orders Oil Production Restart
...l is currently produced in these two blocks, with Blocks 1 and 5 in the South’s Unity state contributing the balance. Total output from Blocks 3 and 7 was estimated to have hit 230,000 b/d of waxy Dar blend in 2011, compared to around 200,000 b/d in 2008. The company said in 2010 that it expected pr...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Woodside Keen On Leviathan Partnership, Pelagic Prepares Aphrodite-2 Well
...13. Noble holds a 70% interest in Cyprus Block 12, where it discovered 7 tcf (198 bcm) of gas in December 2011. MEES understands that the Cypriot government on 23 October approved a transfer of 30% of Block 12 interest to the Delek Group subsidiaries, Delek Drilling and Avner Oil & Gas. In re...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Noble Energy Expects More Gas In Block 12
...cember 2011 following the discovery. “We made that nice discovery of 7 tcf, but we think there is a lot more potentially there and we will be chasing additional gas fields [in Block 12],” Mr Tomich said, speaking at a press conference in Nicosia on 24 October. “We are planning to drill the ap...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Jordan In Talks To Resume Egyptian Gas Imports
...ectricity needs. But the disruption of the flow of Egyptian gas after the overthrow of the Mubarak regime, and the rise in international oil prices, has cost the country over JD2bn ($2.8bn) in subsidies since 2011 and this is forecast to rise by an additional JD1.2bn ($1.7bn) by the end of the year, ac...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Kurds Push For Energy Independence
...ndensate) up from 300mn cfd, (MEES, 18 July 2011). “This has ensured almost continuous power supply for 4mn people in the Kurdistan Region, in contrast to the electricity crisis in other parts of Iraq, and provided $5.4bn of savings in fuel costs for the government,” Dana Gas said. ...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Sudan To Miss 2012 Oil Production Target
...or, prompting China's state-owned CNPC, which holds a majority stake in Block 6, to relinquish parts of the concession in 2005. Sudan lost around 75% of its total oil output when the South seceded in July last year (MEES, 11 July 2011), leaving the oil-dependent economy desperate for revenues and fa...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Damage To Syrian Oil Sector Estimated At $2.9Bn
...awra last week. He added that government oil facilities and associated infrastructure sustained losses of some S£5bn ($72.5mn). Oil production declined as a result of the fall in crude exports after EU sanctions were imposed on Syria in September 2011 (MEES, 12 September 2011). He explained that tr...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Payment Delays Turn Independents Away From Egypt
...PC) 2011/12 bid round (which, after being put back twice, closed in April) a bid failed to materialize. By its second quarter results presentation on 23 August the company had dropped almost all mention of Egypt. The 2011-12 EGPC bid round, which was launched amid post-revolutionary op...
Volume: 55Issue: 42Published at Fri, 12 Oct 2012 -
Saudi Aramco Discovers New Gas Field
...ell-led South Rub΄i al-Khali Company (SRAK) appears to be potentially moving towards development phase, and even this development is for the Kidan sour gas field, discovered decades before the SRAK’s exploration program (MEES, 21 November 2011) . ...
Volume: 55Issue: 42Published at Fri, 12 Oct 2012 -
Noble Energy Leases New Drillship For East Mediterranean
...r the well is 7,400ms (MEES, 7 May). “High well pressure and the mechanical limits of the wellbore design resulted in the suspension of drilling operations before the primary objective was reached,” Noble said at the time. In November 2011, DMSE entered a heads of agreement with the pa...
Volume: 55Issue: 41Published at Fri, 05 Oct 2012 -
Sudans Make Oil Export Breakthrough
...sues, and claims on land and nomadic grazing rights contribute heavily to the volatility. By way of a protocol, the 2005 Comprehensive Peace Agreement (CPA) granted the region a January 2011 referendum to decide whether it joined the South, or remain under the North’s jurisdiction. Yet with preparations fo...
Volume: 55Issue: 40Published at Fri, 28 Sep 2012 -
Foreign Investors Look For Streamlined Algerian Oil Bureaucracy As Shell Exits
...to effect in 2006 saw a total of 36 blocks offered. All three rounds were failures to a lesser or greater extent. In 2008 only four blocks were awarded, in 2009 only three (including to Thailand’s PTT – see page 7) and only one block was awarded (to Cepsa) in the most recent 2011 bid round; Sonatrach to...
Volume: 55Issue: 40Published at Fri, 28 Sep 2012 -
Thailand’s PTT, PetroVietnam and China’s CNOOC Expand In Algeria
...troVietnam’s Bir Seba project is set for early-2014 production. PTT has so far notched up four, albeit modest, successes among the five wells so far drilled in its nine-well late 2011 to early 2013 exploration program on the Berkine Basin’s Hassi Bir Rekaiz block. A sixth well is due to be sp...
Volume: 55Issue: 40Published at Fri, 28 Sep 2012 -
Qasemi Reverses Decision on NIGEC’s Dissolution
...iginally taken by Mr Qasemi’s predecessor, Massoud Mirkazemi, in 2011. A former senior NIOC executive told MEES that Mr Qasemi has accepted – despite NIOC protests – the committee’s recommendation “because the effects of Mirkazemi’s decision were not thoroughly studied.” The executive added th...
Volume: 55Issue: 40Published at Fri, 28 Sep 2012 -
Jordan Signs MOU With Canadian Firm For Shale Oil Project
...to 15,000 b/d of crude from shale. KIO is a wholly-owned subsidiary of Jordan Energy and Mining of the UK (MEES, 28 March 2011). Lastly Shell has plans to produce crude from the eastern desert in Jordan within the next two decades (MEES, 27 July 2009). Jordan currently imports about 98% of its en...
Volume: 55Issue: 40Published at Fri, 28 Sep 2012 -
Libyan Output At 1.6Mn B/D But Gas Stuck At Two-Thirds Capacity
...oduction (mn b/d) Source: NOC from Jan 2012, MEES assessments Oct-Dec 2011. September production is unlikely to top August volumes given a 4 September fire at the Harouge-operated Amal field. This shut in up to 100,000 b/d of Sirte Basin production early in the month. Pr...
Volume: 55Issue: 40Published at Fri, 28 Sep 2012 -
Egypt: Billion-Dollar Exploration ‘Commitments’ Fail To Disguise Delays
...2015 as the start of construction of the onshore gas treatment plant – which had been slated to begin in 2011 – was delayed as residents in the coastal town of Idku protested the plant’s proposed location. Construction is only now starting to move ahead. The WND project involves the development of di...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012 -
Chevron Neutral Zone Delay Jeopardizes Kuwait 2020 Crude Target
...sting $330mn in the first two years. The original projections were: a production capacity boost to 300,000 b/d; capital expenditure to start the project put at $10bn; and the FID in 2011. After more delays it is now planned for 2016. Full field development will include 10,800 wells, a 1.5mn b/d water tr...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012 -
Yemen Seeks Proposals For Offshore, Onshore Blocks
...l exploration had thus far been kept to a minimum, he told Yemen’s SABA news agency. Yemen has proven oil reserves of around 2.7bn barrels as of end-2011, according to BP’s 2012 Statistical Review of World Energy. Production in 2011 was estimated at only 228,000 b/d, down 24% from the previous ye...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012