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Sudan Anticipates Growth In Mining Sector
...Middle East Economic Survey VOL. LIII No 49 6-Dec-2010 Sudan Sudan Anticipates Growth In Mining Sector Sudan expects minerals to contribute $3bn to the country’s GDP in 2011, with its go...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Syria To Launch New Offshore Bidding Round In Early 2011
...Middle East Economic Survey VOL. LIII No 49 6-Dec-2010 syria Syria To Launch New Offshore Bidding Round In Early 2011 Syrian Minister of Petroleum and Mineral Resources Sufian 'Alaw sa...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
ADX Farms Out Further 10% Of Chorbane Permit
...nuary 2011. The multi-reservoir Sidi Daher prospect is located close to the port of Sfax, near a number of producing oil fields, and is the largest structure to have been mapped on Chorbane. ADX estimates that the prospect has recoverable oil potential of 44mn barrels of oil in the Abiod formation, wh...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Koç Holding And AES Plan Joint Venture For $4-5Bn Energy Investment
...6.5mn. Upon closure of the deal, which is expected to take place in the second quarter of 2011, the shareholders of the AES-Entek Elektrik Uretim AS joint venture will be AES (49.62%) and the Koç Group (49.62%) and certain minority shareholders (0.76%). The new joint venture is expected to invest $4-...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Dubai Receives First Qatar LNG Shipment
...r a period of 15 years, with the aim being to help the emirate cope with peak summer demand for electricity. Shell, the largest investor in Qatar, is a 30% shareholder in the 7.8mn t/y Qatargas 4 project, which is set to begin producing LNG in February 2011. The UAE already receives Qatari gas vi...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
Union Railway Awards Consultancy And Preliminary Engineering Contracts
...cluding testing and commissioning. “In early 2011, we will tender for construction contracts for phase zero to build the railway line,” Union Railway CEO Richard Bowker said. The joint venture will also supervise preliminary engineering work and contract formation for parts of the next two stages. Ph...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
EIB Grants €500Mn Loan For Algeria-Spain Gas Pipeline
...nancing amounting to €3.7bn in the Mediterranean between 2002 and 2009, the EIB described Medgaz as “an operational priority.” Having been delayed several times thus far, the Medgaz pipeline – costing an estimated €1.009bn – is scheduled to come on stream in early 2011....
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
EC Introduces Third Party Access Changes to Russia-Bulgaria South Stream JVC
...mponents of the planned 63 bcm/year pipeline system, in line with EU legislation that is expected to come into full force by March 2011. Ms Holzner said that the commission was invited by the Bulgarian government to consult with it during the negotiations with Gazprom. This would be considered un...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
GCA To Assess Turkmen Upgrade Of South Yolotan Reserves
...ted. He said it was necessary to “shoot as much seismic as possible both on the onshore and offshore sections of the block.” 3D seismic data will be acquired throughout 2011....
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Belarusian Imports Of Venezuelan Crude May Impact Russian Oil Exports to Europe
...ude to Belarus. Some 4mn tons would be delivered in 2010 and 10mn t/y during 2011-2012. Belarusian state firm Belarustransneft and Ukrainian transportation company UkrTransNafta later signed a 5mn t/y transit contract. This could impact supply to Europe, since Ukraine and Belarus have decided to re...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Vegas To Lower NW Gemsa Production For Water Injection Preparations
...ovide significant reserve and production additions in 2011,” partner Sea Dragon Energy said. Gross production from the 264 sq km concession was 9,500 b/d in September (MEES, 20 September). Vegas is operator on the acreage and holds a 50% interest, with partners Circle Oil (40%) and Sea Dragon (10...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
IMF Sees Volatile Oil Prices As Risk For Economic Growth In Iraq
...a modest increase in export volumes for the rest of the year, reducing the projected fiscal deficit to 14.2% from an initially anticipated 19.1%. Iraq: Selected Economic and Financial Indicators, 2007–12 2007 2008 2009 2010 2010 2011...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Gazprom In Talks With ACC International To Buy Into Med Ashdod Block
...ploration and drilling in 2011. Meetings between the two sides have taken place in both Israel and Moscow. The licenses that Gazprom are said to be interested in are estimated to hold gas reserves of 100 bcm....
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
New Jordanian Government To Pursue More Reforms
...mmur is part of the economic and financial team that overseas the IMF reforms. The new government is expected to continue with its drive to cut the budget deficit, estimated at JD1,060mn ($1,495mn) in 2011 (MEES, 15 November). ...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Lebanon Expects First Offshore Licensing Round Next October
...Middle East Economic Survey VOL. LIII No 48 29-Nov-2010 LEBANON/EAST MEDITERRANEAN Lebanon Expects First Offshore Licensing Round Next October Lebanon expects to launch its first round of offshore licensing bids in October 2011, the Lebanese Minister of Energy and Wa...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Gazprom And E.ON Score Exploration Successes With Sonatrach
...ock 19 drilling scheduled to start in February 2011. With both Algeria and Libya, Gazprom has signed memorandas of understanding regarding swaps (in Algeria’s case) and investment in third countries. Gazprom Libya has agreements with the Libyan Investment Authority (LIA) and also the Libyan Af...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Saudi Inflationary Pressures Expected To Ease in 4Q10, Says SAMA
...e situation will only deteriorate once Saudi banks return to higher levels of lending. “If Saudi lending goes back to normal, the inflationary pressures will become even worse” he added. With the weak dollar adding pressure, economists expect inflation in the kingdom to climb going into 2011, an...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Think-Tanks Say Intensified Violence In Sudan Could Cost Region Over $100Bn
...a high-conflict outcome, a scenario that would see growth remain 2.2% below IMF forecast levels from 2011 to 2024. Over a 25-year period, the projected loss in GDP would meanwhile range from between $118.4bn and $362.9bn. Such anticipated shortfalls would be mostly catalyzed by heavy damage to th...
Volume: 53Issue: 48Published at Mon, 29 Nov 2010 -
Gazprom And BEH Establish South Stream JVC
...adimir Putin, who said that Bulgaria “would profit enormously” from the deal. Mr Putin also promised to review existing gas supply contracts with Sofia, which are set to expire in 2011 and 2012, in order “to further reduce the final cost for consumers.” Mr Borisov stressed the potential economic be...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Socar Sees Shah Deniz 2 Gas Agreements By Mid-2011
...ld a press conference in Baku on 13 November that gas purchase agreements for the second production phase of the Shah Deniz field are expected to be signed by the middle of 2011. Mr Abdullayev confirmed that Socar was also in talks with Turkey’s Botas for the export of 6 bcm/year from Shah Deniz 2, wh...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010