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Gazprom Nasiriya Entry: Conciliatory Gesture?
...U with NIOC to develop Azar before being kicked out in 2011 (MEES, 17 October 2011). It’s unclear whether the firm’s work at Badra was indeed informed by Iranian data. The source assesses that Gazprom Neft’s Nasiriya pitch may involve moving some of Badra’s surface processing equipment, for wh...
Volume: 67Issue: 10Published at Fri, 08 Mar 2024 -
Libya Gas Exports At 13-Year Low
...Libya’s gas exports, all of which go to Italy via the 8bcm/y (775mn cfd)-capacity Greenstream pipeline, fell to just 137mn m3 (167mn cfd) for February, one of the lowest figures since the massive instability of the revolutionary year of 2011. With the two preceding months also having seen su...
Volume: 67Issue: 10Published at Fri, 08 Mar 2024 -
Wintershall Libya Assets In Limbo
...wn” from the board and “own less than 50% of LetterOne shares,” they retain a substantial holding (MEES, 6 May 2022). THE ASSETS THAT NO-ONE WANTS The problem for Libya, which is desperate to attract more upstream investment in a bid to regain output levels seen prior to the 2011...
Volume: 67Issue: 09Published at Fri, 01 Mar 2024 -
Libya Ups Drilling Efforts
...oduced at 95,000 b/d prior to Libya’s 2011 revolution. Effective capacity has been perhaps half this in recent years but leading US-based services firm SLB has been working with Eni and NOC on a campaign to re-enter long-producing wells with its latest stimulation technology. SLB last month said that th...
Volume: 67Issue: 08Published at Fri, 23 Feb 2024 -
Unlocking the East Med Energy Potential: A Vision for the Future
...scovered in 2011, appear to have hit a roadblock as the US major continues to buy for time with a 31 March deadline looming. Next door in Israel, just 30km away, Chevron is also faced with a conundrum – how to expand output at the 23tcf Leviathan field. The options in front of it appear problematic to sa...
Volume: 67Issue: 08Published at Fri, 23 Feb 2024 -
Eni Eyes ‘Best Fast-Track Development’ For Cyprus Cronos Find
...scovered more than a decade earlier in 2011, as Cyprus’ first gas development. Chevron (35%op) and its partners Shell (35%) and Israel’s NewMed (30%) have been set a deadline of 31 March to submit “optimizations” to Aphrodite’s 2019 approved field development plan (FDP) after previous modifications were re...
Volume: 67Issue: 07Published at Fri, 16 Feb 2024 -
Adnoc & BP Ink Egypt Gas JV With Israel Entry On Hold
...scovered in 2011 and mentioned by BP as a potential development option back in 2019 (MEES, 24 May 2019). $1BN+ DEAL? The companies do not say how much Adnoc will pay for just under half of BP’s share in the six assets beyond that a “proportionate cash contribution” will be earmarked “for fu...
Volume: 67Issue: 07Published at Fri, 16 Feb 2024 -
Saudi Economy Contracted In 2023 Amid Oil Price Drop
...7% contraction in 2020 during the Covid-19 pandemic - largely because in 2020 the sector was coming off a relatively weak previous year. Indeed, it is the sharpest oil-sector contraction in MEES records going back to 2011 (see chart 1). Oil prices softened considerably last year amid strong su...
Volume: 67Issue: 06Published at Fri, 09 Feb 2024 -
Cyprus’ Gas Ambitions: Could Cronos Overtake Aphrodite?
...Cyprus’ 2011 Aphrodite gas discovery risks being overtaken by Eni’s 2022 Cronos find in the development stakes. Nicosia faces key 2024 gas decisions. CYPRUS’ 2024 UPSTREAM MILESTONES *Mid-January: Cronos drilling completes *End-March: Deadline for Chevron to su...
Volume: 67Issue: 03Published at Fri, 19 Jan 2024 -
Kuwait Appoints New Pm
...reign affairs minister in 2011 due to his concerns with government corruption. That corruption scandal prompted the infamous ‘storming’ of parliament by protestors and the resignation of prime minister Nasser Mohammed Al Sabah (MEES, 5 December 2011). The new PM is the first of Al Salem branch of th...
Volume: 67Issue: 01Published at Fri, 05 Jan 2024 -
Kuwait’s New Emir Criticizes Political Divisions
...so suffered a leadership vacuum of late, with the government accused by MPs of filling high-level vacancies based on loyalties rather than merit. The new Emir criticized recent pardons granted to opposition figures, including former MPs who were involved in the 2011 storming of parliament, in ad...
Volume: 66Issue: 51/52Published at Fri, 22 Dec 2023 -
Tunisia & Libya Offer Up Border Discovery & Exploration Block In Bidding
...llowed up with a second successful well, Zarat-2, whilst 2011’s Zarat North-1 confirmed the extension of Zarat onto the Joint Oil block (MEES, 9 April 2012). The wells demonstrated a condensate-to-gas ratio of 85 barrels per million cubic feet of gas with medium case (2C) recoverable reserves pegged at...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023 -
Libya’s Legal Battle To Recover Billions In Overseas Assets
...termine the exact value of the country’s assets. FROZEN BILLIONS In the immediate aftermath of the 2011 popular protests and Gaddafi’s violent response, leading up to his eventual demise in October that year, the international community rushed to freeze Libyan assets that could fu...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023 -
Kuwait’s Cabinet Looks Ahead To A Troublesome 2024
...position figures, including former MPs who were involved in the 2011 storming of parliament (MEES, 5 December 2011). On 27 November, the cabinet signed-off on Emiri pardons that granted amnesty to Kuwaiti citizens who were jailed, stripped of citizenship or criminally indicted for state-security and te...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023 -
Libya Oil Output Boost
...Libya’s state-owned Sirte Oil company says its output has hit 93,500 b/d with the Raguba field producing at 13,300 b/d, the highest level since 2011. This comes as Libya’s self-reported output hit 1.206mn b/d for November, the highest since Tripoli began ‘direct reporting’ of figures to th...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023 -
Iran Plans Major Gas Storage Expansion To Face Winter Shortages
...feeding stranded provinces to become a strategic energy balancing tool. According to the report, the difference between summer and winter demand peaks jumped from 180mn m3/d (6.36bn cfd) in 2011/12 to 221mn m3/d (13bn cfd) in 2021/22. Moreover, steady growth means that consumption in summer is no...
Volume: 66Issue: 49Published at Fri, 08 Dec 2023 -
Libya Exploration Picks Up Steam As NOC Reiterates Ambitions
...Libya is persuading more and more of IOCs to return to exploration. The country’s rig count hit 18 for October, the highest level since the 2011 revolution (see chart). And recent weeks have seen a flurry of announcements from NOC that foreign oil and gas firms are planning on resuming dr...
Volume: 66Issue: 48Published at Fri, 01 Dec 2023 -
Ethiopia-Egypt Dam Agreement Remains Elusive Despite Renewed Talks
...th water conflicts, urging the three parties to “negotiate in good faith towards a mutually beneficial agreement.” The three parties have been embroiled in the dispute since Ethiopia broke ground on the $5bn project in 2011, with several mediation attempts by the US, World Bank, and the African Un...
Volume: 66Issue: 47Published at Fri, 24 Nov 2023 -
ExxonMobil Finalizes West Qurna-1 Exit As PetroChina Assumes Operatorship
...edged to increase capacity to 800,000 b/d by 2028. Exxon’s time in Iraq has been tumultuous, with the firm angering Baghdad when it signed up to six blocks in the Kurdistan Region in 2011. That gamble ultimately failed, with Exxon quitting its last Kurdistan asset in 2022 without producing a ba...
Volume: 66Issue: 46Published at Fri, 17 Nov 2023 -
No End In Sight For Sudan’s Devastating Conflict
...utes and vast mineral resources that finance the RSF’s commercial enterprise, and thus, guarantee its survival. OIL EXPORT UNCERTAINTY When South Sudan voted for secession in 2011, Sudan lost nearly 75% of its oil output to its southern neighbor (MEES, 16 March 2018). Today, oil ex...
Volume: 66Issue: 44Published at Fri, 03 Nov 2023