- Sort by:
- Score
- Published ▼
-
Libya Peace Talks Begin But Economy Slides Towards Ruin
...uld run out in May 2017. Libya’s budget deficit in 2014 was $19bn. The only way to replenish these reserves is by a resumption of oil exports in substantial volumes. This is unlikely. The Sidra and Ras Lanuf terminals, which have combined capacity of about 600,000 b/d, are still closed. NOC de...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
BG Slashes Egyptian Spending As Production Plummets
...nistry of Petroleum’s latest forecasts. The ministry forecasts Egyptian gas output of 5.03bn cfd for the 2014-15 financial year – a number which looks optimistic given actual output of 4.6mn cfd for the first half of the period – falling to 4.85bn cfd for 2017-18. ISRAELI, CYPRUS GAS TA...
Volume: 58Issue: 06Published at Fri, 06 Feb 2015 -
Is Morocco’s Offshore Boom Over Before It Began?
...nference call. “We are very focused on maturing our Morocco… licenses for 2016 and 2017 drilling,” he adds. However with the firm’s first well offshore Morocco – last April’s FA-1 well in 600ms water depth on the Foum Assaka block offshore Agadir – “fail[ing] to find hydrocarbons in commercial qu...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Iraq Pledges Higher Oil Exports Despite Market Pressure
...r production capacity of 8.5-9mn b/d by 2017, having already lowered its sights from the initial target of over 13mn b/d when the first oil auction was launched at end 2009. Mr ‘Abd al-Mahdi said after meeting Turkish Energy Minister Taner Yildiz in Baghdad, that SOMO would export 375,000 b/d th...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Oman’s Abu Tabul Gas Starts Up
...eded short-term gas supplies, ahead of the planned 2017 launch of the 1bn cfd Khazzan tight gas project on Block 61. Despite overseeing a significant hike in gas output over the past decade, Oman faces a mounting domestic gas shortage, in the face of rampant domestic demand from the power, water de...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Decision on UAE Onshore Concession Imminent
...ich are set to produce 1.8mn b/d before the end of the decade under a long-existing expansion plan. In all, the UAE plans to expand its production capacity to 3.5mn b/d by 2017 from 2.8mn b/d currently. The commercial terms are far from ideal — Adnoc has raised its per barrel remuneration to $2.85 fr...
Volume: 58Issue: 03Published at Fri, 16 Jan 2015 -
Afren Slashes Kurdish Reserves, Shares Tumble
...peline, rising to 125,000 boe/d by 2017. It is not yet clear whether Afren’s latest troubles will put off potential suitor Seplat Petroleum Development of Nigeria, which in December declared its interest in acquiring Afren, or whether the fall in the company’s value will make it a more attractive pr...
Volume: 58Issue: 03Published at Fri, 16 Jan 2015 -
Iraq Hikes 2015 Export Projections, Includes Kirkuk, KRG Oil
...2009 and 2010 for further development or development of major oil fields in the south with initial plans to raise production capacity to over 13mn b/d by 2017. It has since lowered its target to around 9mn b/d and has negotiated lower plateau production targets with nearly all the major op...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
BP Still Hopeful Of Kirkuk Deal
...ploration and production, tells MEES that preparations are under way to start the third and final phase of development to take output towards the new, revised plateau of 400,000 b/d by 2017. Halfaya is operated by PetroChina with a 45% stake. Its partners are: Petronas (22.5%) and Total (22.5%) and Iraq’s So...
Volume: 57Issue: 46Published at Fri, 14 Nov 2014 -
UAE Says Oil Price Will Not Impact Expansion
...hieved by 2017 but slippages have pushed the date further into the future, though there is no doubt that Abu Dhabi will eventually make its promised contribution to global oil supplies. Still, uncertainty over the future makeup of the lapsed Abu Dhabi onshore concession (see p15), preparations to ne...
Volume: 57Issue: 46Published at Fri, 14 Nov 2014 -
UAE Keeps Oil Majors Guessing On Onshore Renewal
...volvement in building Abu Dhabi’s first nuclear power plant, due to become operational by 2017, it won the right to develop three oil fields in partnership with Adnoc. Like Japan, it also has a crude storage deal with Abu Dhabi. OXY: It’s Complicated For US mini-major Occidental (Oxy), the situation is...
Volume: 57Issue: 46Published at Fri, 14 Nov 2014 -
Saudi Arabia’s Major Gas Development Stalls
...lay in gas substitution for power generation, which vies for gas feedstock with the petrochemicals sector and desalination plants, will eat into volumes of crude oil available for export in the future at a time when Saudi refining capacity is set to rise by 1.2mn b/d by 2017. Total oil burn, in...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Khafji Remains Offline As Neutral Zone Squabble Escalates
...at Chevron will move forward with its planned $5bn, 80,000 b/d first phase of its steam injection program at Wafra. As it stands, the project has already faced several years of delay and a final investment decision isn’t expected until 2017. Costs have also ballooned, which may force the project to be...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Iraq To Split Basra Crude Streams
...oducing around 320,000 b/d of medium and heavy oil, up from 220,000 b/d a month earlier. Output from the field is due to rise to 400,000 b/d early next year, and eventually to a revised plateau of 1.2mn b/d by 2017. Production from Halfaya, now at just over 250,000 b/d of medium crude, is set to rise to 40...
Volume: 57Issue: 43Published at Fri, 24 Oct 2014 -
US Shale A Threat To Mideast Condensate, Despite Oil Price Slide
...pansion of the Panama Canal is finished. While plans call for completion of the expansion next year, Mr Troner says that, more realistically, it will be finished in 2016 or 2017, allowing liquid tankers of up to 160,000 DWT to pass. Qatar’s condensate exports, meanwhile, are set to dwindle the same ye...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
Egypt Enjoys Unexpected Bid Round Success
...nority partner RWE by 2017, and is active drilling in other offshore acreage. In addition to Eni, compatriot Edison also now holds three contiguous East Mediterranean deepwater exploration blocks. The Italian firm signed up for the North Port Fouad block with Irish independent Petroceltic in the la...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
Payment Problems, And Solutions
...ll raise production by 160mn cfd and 5,600 b/d of condensate by 2017. Dana plans to drill 37 new wells and do work over at an equivalent number of existing wells. The investment drive will result in 8-9mn barrels of additional condensate, says the firm. Italy’s Edison has come to a similar ag...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
Algeria Bid Round Flatters To Deceive
...erator at Timissit with a 30% stake, with Shell holding 19% and Algerian national oil company Sonatrach taking up its mandatory 51% stake. The consortium plans to drill two exploration wells and conduct seismic surveys until 2017. While the block is not thought to contain any shale deposits, it lies cl...
Volume: 57Issue: 40Published at Fri, 03 Oct 2014 -
Jordan Launches Bid Round
...other technically proficient player takes its place at Risha. In the west of the country privately-owned minnows Korea Global Energy Corporation and Enegi of the UK will undertake exploration of the nearly 7,000 sq km Dead Sea block. A four-year exploration phase will run until 2017, during which th...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
Bahrain Plans Advance
...tional Oil and Gas Authority (NOGA) later opted for a less ambitious target of 360,000 b/d. Even the revised plan is about two years behind its original schedule: MEES reported previously that the expansion would be executed in two waves, with new and replaced units coming online between 2017 and 20...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014