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Iraq Pencils In 3.4Mn B/D 2014 Exports But Lowers Output Targets
...ter injection to compensate for the pressure drop,” he says. The success of the seawater project is a main factor in determining whether the contracts will be extended beyond 2020 for Majnoon and beyond 2017 for Rumaila, he adds. Water Project To Be Ready In 2018 But the minister denies that th...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
UAE Says 3.5Mn B/D Capacity Target On Schedule
...UAE UAE Says 3.5Mn B/D Capacity Target On Schedule The UAE is sticking to its 3.5mn b/d 2017 capacity expansion target. It says stalled renewal of the ADCO concession that makes up close to half of current 3mn b/d capacity will not delay its ramp-up plans. UAE En...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Umm Lulu Moves Forward
...RB) and Nasr fields. ADMA-OPCO’s plans are key to hitting the Emirate’s 3.5mn b/d 2017 production target. Yet ADNOC’s target production has slipped to 2019-20 thanks, in large part, to delays at key offshore fields such as Upper Zakum (MEES, 21 June). Three-quarters of ADMA-OPCO’s production wi...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
North African Oil Benefits From New EBRD Focus
...nisia through the takeover of Canada’s Winstar, and net production is a modest 1,660 boe/d. Four of the fields are fully owned by Serinus, one is majority owned by state oil company ETAP. A development program spanning to 2017 is expected to boost output to at least 3,020 boe/d according to the co...
Volume: 56Issue: 47Published at Fri, 22 Nov 2013 -
Basra In Turmoil As Oil Services Firms Retreat Following Violence
...maila is being developed further by a consortium of BP and Chinese state firm CNPC, and was the first service-contract to be awarded by the Iraqi oil ministry in its first post-war bidding round in 2009. The contract calls for raising production to a plateau of 2.85mn b/d by 2017, but the Rumaila co...
Volume: 56Issue: 46Published at Fri, 15 Nov 2013 -
Abu Dhabi Ups The Ante As Oil Acreage Race Heats Up
...ergy, while maintaining its role as a reliable supplier of hydrocarbons to the world. To that end it is spending $70bn to raise its oil production capacity to 3.5mn b/d by 2017. He did not provide a figure for current capacity, believed to be around 2.8-2.9mn b/d. “International oil and gas co...
Volume: 56Issue: 46Published at Fri, 15 Nov 2013 -
Abu Dhabi Turns To CO2 To Enhance Oil Recovery
...dustry average, and demand for gas in domestic power generation will remain strong in spite of nuclear reactors that come online from 2017. This is in part due to the growth of the industrial sector, as further steel plants and aluminum smelters are either being built or are in the pipeline. These pr...
Volume: 56Issue: 46Published at Fri, 15 Nov 2013 -
ADNOC Creates New Crude Blend To Go On Sale From Next July
...ys. ADMA-OPCO is preparing to award contracts for full field development to produce 65,000 b/d by 2017. Total ADMA-OPCO production is set to rise slightly in 2014 to around 650,000 b/d with the the Nasr and Bunduq fields adding the 50,000 b/d increment over 2013. ADMA-OPCO targets total production of 76...
Volume: 56Issue: 46Published at Fri, 15 Nov 2013 -
Bahrain: Question Mark Hangs Over Oil and Gas Projects
...ans amid financing concerns. It appears, however, that Bapco’s scaled-back plans face similar woes. Bapco said previously that it intends to expand the refinery in stages, with the first units coming online in 2017 and the last in 2020. It is now unclear if Bapco will meet this target. The ex...
Volume: 56Issue: 46Published at Fri, 15 Nov 2013 -
Baghdad Caught in North-South Pincer As Basra Oil Heartland Seeks Autonomy
...x major oil fields in the south, within and around Basra province, that are being developed by foreign oil companies and where the bulk of additional crude oil is expected to be produced as Iraq ramps up to a targeted 9mn b/d of capacity by 2017 from around 3.3mn b/d. Call For Recogniton Ba...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Egypt Touts Block Awards But IOC Debts Mount
...periencing chronic delays. Originally slated for start-up in 2014, the 1bn cfd project will now likely come online in 2017. It is a delay that gas hungry Egypt can ill afford, and the government’s eagerness for future supply provides a powerful rationale for not letting payments to BP slip further....
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
ADIPEC Absentees Raise ADCO Questions
...rait of Hormuz. Regardless of when the concession renewal process is completed, ADCO says it intends to raise production capacity to 1.8mn b/d by 2017. ADCO General Manager ‘Abd al-Mun’im al-Kindi said on 29 October that the plans were on track and part of ADNOC’s overall program to raise total pr...
Volume: 56Issue: 44Published at Fri, 01 Nov 2013 -
Kuwait Tenders Heavy Oil Project
...rst phase of the development. KOC is targeting 60,000 b/d of 12-16°API crude production by 2017 with a second phase expected to target 120,000 b/d by 2020. The company expects a third development phase to allow the company to hit 270,000 b/d by 2030. Originally, the project was scheduled to pr...
Volume: 56Issue: 44Published at Fri, 01 Nov 2013 -
Saudi Awards Khurais FEED
...erall oil production capacity from 10mn b/d to 12.5mn b/d currently. Saudi Aramco CEO Khalid al-Falih said last week that a further addition would come from the offshore Shaybah field to production of light crude oil by a further 250,000 b/d by 2016 or 2017. Shaybah can produce 750,000 b/d. No aw...
Volume: 56Issue: 43Published at Fri, 25 Oct 2013 -
Oman To Take 40% Stake In Khazzan Tight Gas Deal
...oceedings. It has previously said it harbors hopes of exporting more LNG after the BP project hits full production. Delays in the project’s implementation however mean the company will have to hold back on making plans for this extra gas until 2015 at least; when plans for 2017-onwards production and de...
Volume: 56Issue: 43Published at Fri, 25 Oct 2013 -
Iraq Concludes Oil Port Expansion, Zooms In On Asian Market
...rkovers have been completed on three wells to handle rising water levels. Production from the 4.1bn barrel field is currently estimated at around 120,000 b/d and is set to rise to 535,000 b/d by 2017. The operator has announced the start of second phase development, with the arrival of four new Chinese dr...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
Glimmers Of Hope As Egypt Craves Stability
...lta, a project whose start-up date has been pushed back by three years to 2017. Egypt is also taking first steps towards developing unconventional reserves. US independent Apache is looking to move forward with exploration activity for tight gas in the Western Desert by drilling seven or eight te...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
Saudi Arabia Looks To Hold Steady Around 10mn B/D Through Year-End
...aybah and Khurais fields by 2017. At current production, estimated by MEES at 10.11mn b/d in September, Saudi Arabia is left with close to 2.4mn b/d of spare production capacity. For Riyadh to maintain spare capacity at 2.5mn b/d for the medium term (including neutral zone production), would su...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
Kuwait Sticks To 4Mn B/D 2020 Target, But Questions Remain
...wait hopes that the northern field – which extends into Iraq, where it is known as Rumaila – will produce 60,000 b/d of extra-heavy 12-15° API crude by 2017. Output would be doubled by 2020 and boosted to 270,000 b/d by 2030. Originally, Ratga was scheduled to produce 150,000 b/d by 2013, ramping up to 90...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Majnoon And Rumaila Give Iraq Much Needed Production Boost
...e 12bn barrel Majnoon oil field in January 2010, when they submitted a winning bid to raise output from a baseline of 46,000 b/d to a plateau of 1.8mn b/d by 2017 for a remuneration fee of $1.39/B. A lower plateau extended over a longer period would squeeze margins and Shell, along with ExxonMobil (We...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013