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Israel: New Government, New Challenges
...ighbors, most notably the UAE (MEES, 7 May). Prior to that Mr Steinitz faced the aftermath of a late 2014 antitrust case against its two key players, US firm Noble (now Chevron) and Israel firm Delek (MEES, 2 January 2015). A gas outline agreement was signed in 2016 which allowed Noble and Delek to re...
Volume: 64Issue: 24Published at Fri, 18 Jun 2021 -
Libya’s NOC Plans Massive Upstream Opening
...timism. An October 2020 ceasefire between previously warring eastern and western forces has held, the country has a unified government for the first time since 2014 and preparations for nationwide elections in December are underway. But the peace process is extremely fragile (MEES, 4 June). “We are ve...
Volume: 64Issue: 23Published at Fri, 11 Jun 2021 -
Iraq Confirms Negotiations With American-Saudi Consortium For Akkas
...s originally awarded to Korea’s Kogas (100%) in 2010’s third licensing round, with the firm targeting 400mn cfd for a remuneration fee of $5.50/boe (MEES, 25 October 2010). Kogas declared force majeure on the field in 2014 as Islamic State overran the area, but after the area was retaken, Baghdad be...
Volume: 64Issue: 23Published at Fri, 11 Jun 2021 -
Gulfsands Bullish On Syria Return As Key Russian Investor Consolidates Position
...nserving cash for potential Syria re-entry. Whilst Gulfsands says it has had no control over and received no revenue from its Syria assets since 2011, it was informed by Syrian state firm GPC that the Block 26 fields, having produced intermittently since 2014, “returned to regular production in January 20...
Volume: 64Issue: 23Published at Fri, 11 Jun 2021 -
Eni In Algeria: Looking For Growth
...Eni’s net Algeria output has steadily fallen since a peak in 2014, but recent moves by the Italian major look set to reverse this trend. The potential acquisition of sizeable BP assets would nearly double Eni’s net Algeria gas output. As many international oil companies have shunned Al...
Volume: 64Issue: 22Published at Fri, 04 Jun 2021 -
Libya’s Oil Revenues Surge
...nthly numbers of Libya’s crude oil production have been pretty much non-existent for the past six years. But with the arrival of a new unity government in March, which includes an oil minister for the first time since 2014, Libya has begun to submit monthly production stats to Opec. Official figures pu...
Volume: 64Issue: 22Published at Fri, 04 Jun 2021 -
Western Zagros Gets Green Light To Develop Kurdistan’s ‘Crown Jewels’
...rdamir partners had for years been seeking to secure approval from the KRG’s Ministry of Natural Resources (MNR) for a Kurdamir FDP, but progress proved frustratingly slow as the regional government struggled to deal with a series of crises. First came the advance of the so-called Islamic State in 2014, fo...
Volume: 64Issue: 22Published at Fri, 04 Jun 2021 -
Iraq Targets 22GW Peak Supply This Summer
...rporation (CMEC) is now nearing completion. CMEC restarted work on the site in mid-2018 after leaving the project when large swaths of the country’s western and northern provinces fell to ISIS in 2014. On 17 May, the first 630MW unit was inaugurated, with the second 630MW unit due to enter service by Ju...
Volume: 64Issue: 22Published at Fri, 04 Jun 2021 -
Shell Egypt Slump Opens The Door For Chevron
...ft Shell-predecessor BG unable to meet its export commitments from the 7.2mn t/y ELNG export terminal which adjoins the WDDM processing facilities at Idku (MEES, 7 February 2014). Even the addition of UK major BP’s West Nile Delta (WND) project from 2017 wasn’t enough to reboot LNG exports. This pr...
Volume: 64Issue: 21Published at Fri, 28 May 2021 -
Adnoc-CNPC JV Awards EPC Contract For Offshore Block Development
...rku Island.” Adnoc Upstream Executive Director Yaser Saeed Almazrouei says “we are very pleased to commence the full field development of the Belbazem Offshore Block, together with our strategic partner CNPC.” AL YASAT’S GROWTH Al Yasat was established in 2014 and has two co...
Volume: 64Issue: 21Published at Fri, 28 May 2021 -
Russia’s Gazprom Seeks North Africa Expansion
...sin known as ‘Area 64’ (see map). ALGERIA PLANS In neighboring Algeria, Gazprom says it plans to make a decision in 2021 on the “commercial attractiveness” of its 2010 Rhourde Sayah (RSH) and 2014 Rhourde Sayah North (RSHN) discoveries on the El Assel license (236b). The two fields ar...
Volume: 64Issue: 21Published at Fri, 28 May 2021 -
Sonatrach Adds Equinor And Sinopec To MoU List
...vestment push (MEES, 7 February 2020). Equinor is also involved in exploration activities in Algeria at the country’s Timissit license on the border with Libya. The block, which is said to have both conventional and unconventional potential, was originally awarded in 2014 (MEES, 3 October 2014). Eq...
Volume: 64Issue: 20Published at Fri, 21 May 2021 -
Iran Deepens Iraq Energy Role With 3GW Basra Power Plant
...to Iraq’s energy sector. The $2.5bn Rumaila IPP project was directly awarded to the Amman-based Iraqi conglomerate Shamara Holding Group (SHG) by the Ministry of Electricity in 2014 under Federal Iraq’s first Power Purchase Agreement (PPA). The PPA is for 15-17 years and Iraq’s Ministry of Fi...
Volume: 64Issue: 20Published at Fri, 21 May 2021 -
Eni’s Zohr Boosts Egypt Gas Output To New Highs
...PLORATION Russian state firm Rosneft, 30% partner at Zohr (Eni 50%op, BP 10%, Mubadala 10%), revealed in its 2020 annual report, released last week that “the drilling of a prospecting well” on the Shorouk block which houses Zohr is planned by July next year. Part of the original block awarded to Eni in 2014...
Volume: 64Issue: 19Published at Fri, 14 May 2021 -
Yemen Set For Output Boost Following Petsec Transaction
...gistered Octavia Energy Corporation listed by Companies House was dissolved in 2014. Nevertheless, Yung Holdings is listed as having Yemen operations. In 2016, Yung Holdings purchased Calvalley Petroleum (Cyprus) Ltd, which is the operator of Block 9 (50%) alongside Indonesia’s Medco Energi (25%) and Ho...
Volume: 64Issue: 19Published at Fri, 14 May 2021 -
India Oil Demand Hit By Covid As Saudi & Opec Import Share Falls To Record Low
...th Saudi Arabia’s market share falling to a record low 14.4%. Opec’s Q1 market share of 64.3% was also a record low, whilst the Mideast share of 56.2% was just fractionally higher than the record quarterly low set in 2014 (see chart). *In volume terms, the 595,000 b/d that India took from Sa...
Volume: 64Issue: 19Published at Fri, 14 May 2021 -
Yemen Takes Delivery Of Saudi Products Shipments
...started in 2019 and is currently running at around 10,000 b/d (MEES, 15 January). A planned second phase 400MW expansion was awarded to India’s BHL for $436mn in 2011 with work beginning in 2014 (MEES, 9 August 2013). The project was financed by the Arab Fund for Economic and Social Development, the Sa...
Volume: 64Issue: 19Published at Fri, 14 May 2021 -
Sonatrach: A Return To Libya?
...andon its exploration activities on the Libyan side of the Algeria-Libya border in 2014 due to a deteriorating security situation. It had made a number of promising discoveries close to existing infrastructure up until that point (MEES, 11 June 2012 & MEES, 22 February 2013). Sonatrach holds 50% of Ar...
Volume: 64Issue: 18Published at Fri, 07 May 2021 -
Saudi Arabia’s Vision 2030: Five Years On
...venues fell to a multi-year low of 69.4% in 2020, but that was essentially down to the coronavirus pandemic decimating oil revenues (see chart 1). Indeed, non-oil revenues of $53.7bn in 2020 were not just down on 2019 levels, they were also less than the 2014-figure of $57.9bn, in large part because they in...
Volume: 64Issue: 17Published at Fri, 30 Apr 2021 -
Iraq Awards Mansuriya Gas Field To Sinopec
...%). Development was derailed by security concerns in 2014 as IS expanded in northern Iraq (MEES, 10 October 2014). Then, following IS’ ouster, disagreement on commercial terms with erstwhile operator TPAO pushed Baghdad to take over the field in 2018 (MEES, 3 August 2018). In October 2020, the ca...
Volume: 64Issue: 16Published at Fri, 23 Apr 2021