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Shell Awards Majnoon Oil Deal, Gas Still A Problem
...8mn b/d by 2017. Shell has not yet completed renegotiations with the oil ministry on a lowered plateau. It is understood to favor 1mn b/d while the ministry is proposing 1.2mn b/d. Embarrassing Flares Shell, in its 2013 results, says rising Majnoon output led to a rise in the amount of natural gas be...
Volume: 57Issue: 12Published at Fri, 21 Mar 2014 -
Italy’s Eni In New Tirade Against Iraq Contract
...I gravity, which ranges from a heavier 28-29° API, a recent development as new streams have come online, to 32° API, he said. After 2017, Iraq plans to export two types of crude from its southern terminals, he says. West Qurna Too Storage capacity is needed to absorb the expected 750,000 b/d of...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Two-Track Iraq Mega Projects Emerge
...rough the pipeline is expected by the end of 2017 or early 2018, he said. The project is divided into two parts, the 2.25mn b/d BOOT contract and a 1mn b/d section from Haditha to ‘Aqaba to be offered as an Engineering, Procurement and Construction (EPC) contract, which Mr Ashqar said had now been ap...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Iraq Set To Launch Gas Bidding As Eni Slams Terms
...oken out about the problems facing Eni in Iraq, where it operates the Zubair oil field. Eni led the winning consortium to secure 20-year rights to develop the giant field under a TSC, bidding on the basis of a $2/B remuneration fee to raise production from 195,000 b/d to 1.2mn b/d by 2017, a level to be...
Volume: 57Issue: 08Published at Fri, 21 Feb 2014 -
Jordan Takes Plunge With Israel Gas Deal
...tural gas reserves for export. A gas sales agreement to supply the Palestinian authority with gas from the 19 tcf Leviathan field, once production starts in 2016 or 2017, was signed last month. Noble says that the sales agreements with Jordan are evidence of the growing regional opportunities for it...
Volume: 57Issue: 08Published at Fri, 21 Feb 2014 -
Cost Blow-Out For NZ Steam Injection Project
...ck a final investment decision (FID) until the start of 2017 at the earliest. Therefore, Mr Shammari said that the first phase of the EOR scheme would likely start up in 2020 (MEES, 2 August 2013). Typically, it takes about 12 months for injected steam to begin boosting production. Ba...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
Cyprus Peace Hopes See East Med Gas Export Options Multiply
...th it the need for bigger markets such as Turkey. While the 10 tcf Tamar field is being ramped up, Noble and its Israeli partners Delek Group, Avner and Ratio Oil await government approval for development of the aptly named 19 tcf Leviathan field. Drilling is slated to begin by 2015, and first gas by 2017...
Volume: 57Issue: 07Published at Fri, 14 Feb 2014 -
Saudi Arabia Advances Carbon Capture Project
...ing raised to produce an additional 300,000 b/d of Arabian Light Crude by 2017. These two projects will complete capacity enhancement projects, allowing the OPEC kingpin to maintain production capacity at 12.5mn b/d without developing any new resources. That would also limit its ability to boost as...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
BG Lays Bare Egypt Woes But Improved Payments Offer IOCs Hope
...nded out in monthly instalments by 2017. Such payments – and Cairo is desperate to keep IOC interest in Egypt’s upstream – will receive a boost if an additional $4bn in rumored Saudi aid materializes. Whilst IOCs’ total Egyptian receivables remain around $6bn, for the four key producers for which ME...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
ExxonMobil Mum On Abu Dhabi Onshore Plans
...re qualified to bid for the onshore license, where production is set to rise to 1.8mn b/d by 2017. ...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
BP Lays Out Eastern Shift In Global Gas Demand
...rket eastward. In fact, BP sees the US as a net gas exporter as early as 2017. Shale gas production will be one of the key global energy trends through 2035. In the US, shale gas production will likely more than double by 2035 – to 65bn cfd, which will account for 70% of total US gas production. Fo...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014 -
Gas The Priority For Iran’s New Oil Team
...an’s oil production, which, given the age of many of its key fields, is reliant on ever-increasing volumes of re-injected natural gas to maintain output. Five By 2017 A more likely scenario envisages the five phases in question to be complete by mid to late 2017. Sour gas production from Ph...
Volume: 57Issue: 04Published at Fri, 24 Jan 2014 -
Aramco Awards Bring Forward Shaybah 1Mn B/D Target To 2016
...vest some of its $500mn fund for technology startups in the Boston area, Mr Falih says. Aramco: Key Crude Additions (‘000 B/D Capacity) Field Now By 2017 Shaybah 750 1,...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014 -
Iraq Expects West Qurna-2 Start-Up By End-February
...ft, said in a statement that a first line with capacity of 60,000 b/d would come onstream in the near future. Output is forecast to reach 170,000 b/d by 2017 and is expected to remain at this level for seven years, the company said. Any significant future increases in capacity will depend on the ti...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
IOCs Welcome New Egyptian Bid Round As Sign Of Progress
...fore Prime Minister Hazim al-Biblawi announced last month that $1.5bn of this debt would be repaid immediately, and a further $3bn would be paid in instalments by 2017. “They are trying to project the image that Egypt is a good place to invest,” said Joe Versfeld, regional exploration manager for US...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Petroceltic Focuses On North Africa As Investment And Production are Set To Slump
...r completion in 2017, “is substantially agreed and should be signed during Q1 2014,” the company said in a 7 January release. The Ain Tsila consortium – Petroceltic, Algeria’s state oil company Sonatrach and Italy’s Enel – are aiming to award the front end engineering and design (FEED) contract du...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Saudi Platform Sinks
...gher recovery rates of up to 70% from existing fields while adding some 550,000 b/d of new capacity from the Shaybah and Khurais fields by 2017, though overall capacity is set to remain at 12.5mn b/d as some older reservoirs are given a rest. Safaniyah, which was discovered in 1951 and entered into pr...
Volume: 57Issue: 01Published at Fri, 03 Jan 2014 -
Egypt Starts Payments
...oducer suggests that the finance ministry has been the quickest to respond to Mr Biblawi’s announcement. Once the initial $1.5bn has been distributed, a further $3bn will be handed to IOCs in monthly instalments by 2017, the government says. Outstanding receivables are not the only factor deterring fo...
Volume: 56Issue: 51/52Published at Fri, 20 Dec 2013 -
Oman, BP Sign Final Khazzan Tight Gas Deal
...ticipated for late 2017, BP says. Under the terms of the deal, production will ramp up to plateau in 2018. BP, following the declaration of commerciality, retains 60% of the project, whilst state-owned Oman Oil Company (OOC) takes 40%. “The sanction of the Khazzan project follows an extensive and ri...
Volume: 56Issue: 51/52Published at Fri, 20 Dec 2013 -
Noble Energy Outlines Its Levant Gas Export Options
...sed company holds a 30% stake in the field, which contains about half of its regional reserves. First gas is scheduled for 2017. Export Plans The first Noble gas processing plant to cater for Leviathan will be an 800mn cfd facility that will ensure supply to the Israeli domestic market. But ad...
Volume: 56Issue: 51/52Published at Fri, 20 Dec 2013