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Baghdad On Course For 3.5Mn B/D By Year-End
...-‘Amaya. However, Iraqi Oil Minister ‘Abd al-Karim al-Laibi is confident that Iraq will achieve its output target of 3.5mn b/d by the end of this year and an export target of 3.4mn b/d in 2014, including a Kurdish contribution of 400,000 b/d. Still, the Kurdistan Regional Government (KRG) appears be...
Volume: 56Issue: 43Published at Fri, 25 Oct 2013 -
Iraq Concludes Oil Port Expansion, Zooms In On Asian Market
...pected to rise to 4mn b/d by the end of the first quarter of 2014. Although design capacity is higher, Iraq’s export capacity prior to the maintenance work is estimated at around 2.6mn b/d. Industry sources say that current exports are running at around 2mn b/d, below the 2.3mn b/d October lo...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
Saudi Arabia Looks To Hold Steady Around 10mn B/D Through Year-End
...d been identified and could be developed if needed. The last major upstream oil development was completed earlier this year, when the offshore Manifa heavy oil field was brought online and will be ramped up to its full capacity of 900,000 b/d by the end of 2014. Manifa, currently producing 50...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
Atlantic Frontier Hots Up As BP Enters Morocco
...ich have turned up sizeable discoveries around the west African coast in Ghana, in particular the 110,000 b/d Jubilee field operated by Irish independent Tullow (MEES, 23 November 2012). A total of 10 exploration wells are set to be drilled offshore Morocco by the end of 2014, as well as fo...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
Mauritania Plans
...a mere 5,000 b/d. Mauritania’s key project going forward is Irish independent Tullow’s plan to develop the 1.5tcf Banda gas field. Tullow says it will make a final investment decision in 2014. Tullow is the key player offshore Mauritania with operating stakes in seven permits and sizable mi...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
New Lebanon Bid Round Delay
...LEBANON New Lebanon Bid Round Delay Lebanon’s caretaker Minister of Energy and Water Gebran Bassil says international oil companies (IOCs) have an additional month to submit their bids for rights to explore Lebanon’s offshore. The new deadline of 10 January 2014 follows an...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Iraqi September Exports Fall 500,000 B/D With Basra Maintenance
...rmal levels by the end of the month. Iraq’s designed export capacity is set to expand to 5.6mn b/d by early 2014 once two more SPMs, each with capacity to handle 450,000 b/d, are installed and pipelines tied to a central platform. This would theoretically cater to anticipated higher ou...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Libya: ’Arusi Confident Despite Wafa Outage
...nocoPhillips remain shut. NOC has taken advantage of the forced shutdown to bring forward extensive maintenance on the cluster of Waha fields which had been due to start in 2014. Waha, is one of Libya’s key producers, though labor strikes in recent months kept output below nominal 365,000 b/d capacity even be...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
ADNOC Prepares Contingencies As Clock Ticks On ADCO Concession
...%, Shell, BP, Total and ExxonMobil each with 9.5% and Portugal’s Partex, 2%. Each of the major partners (ie excluding Partex), now has to submit bids for a slice of a redesigned ADCO consortium, which currently accounts for roughly half of total UAE production. The concession expires in January 2014...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Obstacles For Qatari Crude Boost As QNB Sees 800,000 B/D By 2017
...veral obstacles in realizing 800,000 b/d by 2017. Large-Scale Investment Plans QP is implementing a $6.6bn development plan between 2010 and 2014, according to the QNB report. As Qatar concentrated on flagship LNG projects, it under-invested in oil production, eventually falling behind Om...
Volume: 56Issue: 39Published at Fri, 27 Sep 2013 -
Iraq: Bracing For Another Fall
...rget date due to protests earlier this year around the field. Lukoil is keen to recoup the $2.5bn it has already spent on first phase development and is planning to spend a further $2 billion in 2014. A total of 67 wells will be needed to reach 400,000 b/d and the company is still awaiting approval fr...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Shaikan Suspension
...ggest discoveries in the region, began on 24 July GK says. Oil sales averaged 5,100 b/d in August with production rising to 12,000 b/d on September 1. Output will rise to 20,000 b/d once a second production well is completed in October, GK says. It plans to ramp up to 40,000 b/d in 2014 from ei...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Libya’s NOC Tries To Look Beyond Continued Chronic Instability
...oduction resume from eastern fields, output could average 500,000 b/d in the fourth quarter, while the longer term forecast is for a production average of 800,000 b/d, assuming that some groups will keep substantial volumes offline, through 2014 and 2015. “In the meantime, the risk of state collapse re...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Saudi To Keep Crude Output High Amid Soaring Domestic Demand
...abiyah non-associated fields had been expected to come online in 2014 to feed the Wasit gas plant, currently under construction. Ordinary supply of 2.5bn cfd will produce 1.75bn cfd of sales gas and can be augmented to 3.05bn cfd in peak summer demand months, Saudi Aramco revealed. Also starting up in 2014...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Iran Revisits Hydrocarbon Contracts In Effort To Boost Output
...uld cut its current account deficit, and save up to $8.5bn in foreign exchange over the current fiscal year (April 2013-March 2014) by increasing its reliance on Iranian oil, for which it is in theory able to pay entirely in rupees (MEES, 8 September). And while Tehran is yet to give an of...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Lebanon Bid Round: More Delays Likely
...agreement among Lebanon’s factions to form a new government – empowered to sign the oil and gas decrees – the licensing round will likely be pushed well into 2014. ...
Volume: 56Issue: 36Published at Fri, 06 Sep 2013 -
India Turns To Iranian Oil For Economic Relief
...an). In a letter to the Indian Prime Minister Manmohan Singh earlier this month, India’s Minister of Oil Veerappa Moily suggested the country could save up to $8.5bn in foreign exchange over the current April 2013-March 2014 fiscal year if it increases its reliance on Iranian oil, for which it is able to...
Volume: 56Issue: 36Published at Fri, 06 Sep 2013 -
Iraq Shake-Up: CNPC Enters West Qurna-1; Shell Slammed Over Majnoon
...ly and the 40,000-60,000 b/d first phase of Gazprom’s Badra oilfield now postponed to early 2014. The West Qurna-2 development led by Russian Lukoil is due to start up at the end of the year at an initial rate of 100,000 b/d, but MEES soundings suggest the timetable may slip to early next year be...
Volume: 56Issue: 35Published at Fri, 30 Aug 2013 -
Saudi Arabia Stems Domestic Oil Demand Growth
...of the offshore 1.3bn cfd Hasbah and 1.2bn cfd Arabiyah non-associated fields in 2014 to feed the Wasit gas plant, currently under construction. Ordinary supply of 2.5bn cfd will produce 1.75bn cfd of sales gas and can be augmented to 3.05bn cfd in peak summer demand months, Saudi Aramco revealed. Al...
Volume: 56Issue: 34Published at Fri, 23 Aug 2013 -
Former Algerian Minister Latest Casualty In Widening Oil Corruption Scandal
...ans and repairs to the Skikda LNG plant damaged by an explosion in 2004 have been delayed while a new plant being built at Gassi Touil is behind schedule. Other projects on the backburner, include the Galsi pipeline project to Italy, which was due to be operational in 2014 but is now on hold du...
Volume: 56Issue: 33Published at Fri, 16 Aug 2013