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Confusion Spreads Over Abu Dhabi Oil Fields Concession
...shore fields and expires in January 2014. State-owned Abu Dhabi National Oil Company (ADNOC) invited selected firms to apply for prequalification by July 15, but BP has not yet been invited (MEES, 9 July). Nick Wilson writes. ““They did not receive an invitation. They were not on the list,” AD...
Volume: 55Issue: 30Published at Mon, 23 Jul 2012 -
IMF Sees Good Growth Prospects For Libya
...ices are projected to fall from $114.70/B in 2012 to $110/B in 2013 and $102.80/B in 2014. At the same time reconstruction expenditure and the release of pent-up private demand should facilitate an improvement in non-hydrocarbon sectors. But the IMF warns that risks to the outlook include continued po...
Volume: 55Issue: 30Published at Mon, 23 Jul 2012 -
New US Sanctions Hit Iran, Upstream Sector Already Stressed
...e project, tells MEES that when Pakistan invited contractors to bid for EPC work it told them to provide the finance themselves. “There isn’t that kind of money available in Pakistan and sanctions aren’t helping, so it won’t be completed in 2014,” he says. MEES learns that Iranian engineers – kn...
Volume: 55Issue: 29Published at Mon, 16 Jul 2012 -
Apache Takes Long Term View On Egypt
...12 and 2013 (from 165,000 boe/d for 2011). Output is slated to rebound strongly in 2014 and 2015 boosted by a hike in Apache’s Western Desert gas output with the start of production from the Hydra field and (in 2014) a major compression project at Apache’s key Qasr field. Delayed permit approvals ha...
Volume: 55Issue: 29Published at Mon, 16 Jul 2012 -
TransGlobe Completes South Alamein Purchase, Looks To Bid Round Awards
...rther “drillable exploration prospects” on the concession, based on 3-D seismic. The block’s exploration phase has entered its final two-year extension and expires in April 2014. The South Alamein and South Mariut purchases, together with TransGlobe’s 50% of the nearby East Ghazalat concession, ha...
Volume: 55Issue: 29Published at Mon, 16 Jul 2012 -
Jordan Outlines Guidelines For National Energy Strategy
...e first half of 2014 at the Red Sea port of 'Aqaba and to modernize the oil terminal at the port. Mr Batayna went on to say that with the erratic supply of Egyptian gas to Jordan via the Arab Gas Pipeline, the government has decided to lease a vessel to store LNG for use by power ge...
Volume: 55Issue: 29Published at Mon, 16 Jul 2012 -
BP Not Yet Invited To Bid For Major Fields, Abu Dhabi Eyes Crude Boost
...E BP Not Yet Invited To Bid For Major Fields, Abu Dhabi Eyes Crude Boost BP has not yet been invited to prequalify to bid for Abu Dhabi’s major onshore oil fields that are run under the Abu Dhabi Company for Onshore Oil Operations (ADCO) concession, which expires in January 2014. BP is a cu...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Kuwait’s Agility Wins $238Mn Gorgon Contract
...rvices for the project’s marine loading facility in Perth. In addition, the company won a two-year extension on an existing deal to provide both transportation and supply base services for the $36.8bn Gorgon project, scheduled for start-up in 2014. The extended term of the contract, according to Agility, wi...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Iraq Prepares To Launch GTL Project
...int venture between state-owned Qatar Petroleum (51%) and Sasol (49%) – has because of problems with its slurry bed and air separation units produced at a maximum of about 90% of its capacity. Sasol aims to debottleneck the plant to reach design capacity by 2014, and also plans to add further trains, ta...
Volume: 55Issue: 27Published at Mon, 02 Jul 2012 -
Thin Exploration Returns Leave Libya Reliant On EOR-Fuelled Expansion
...d 72, awarded in 2003). BP, which has three deepwater areas further offshore from Hess and Repsol (Areas 37, 38 and 39) will be hoping to extend the region’s discoveries when it restarts drilling in 2013 or 2014 (MEES, 4 June). Although Hess’s exploration efforts have been moderately su...
Volume: 55Issue: 27Published at Mon, 02 Jul 2012 -
Abu Dhabi Raises Crude Production Capacity Target
...t their targets. The Supreme Petroleum Council is to decide the future of ADCO’s concessions, which cover the emirate’s major onshore producing fields and which are due to expire in January 2014. More than 10 firms have been invited to prequalify by mid-July (MEES, 25 June). This will be the co...
Volume: 55Issue: 27Published at Mon, 02 Jul 2012 -
Iraqi Infrastructure Crunch Begins To Bite
...e Kurdistan Regional Government (KRG) area (currently running at half of 300,000b/d capacity), Chairman of the Prime Ministerial Advisory Committee Thamir Ghadhban said. Next year 500,000 b/d of new capacity should be added, with around 700,000 b/d in 2014, to achieve a sustainable capacity target of...
Volume: 55Issue: 26Published at Mon, 25 Jun 2012 -
Abu Dhabi Invites IOCs To Prequalify – Partex’s 2% Stake Up For Grabs
...rtex (2%) – which expire in January 2014, while replacing Partex with a newcomer that can bring finance or technology to the consortium – or auction off individual fields, which produce a total of over 1.4mn b/d. Prequalifying submissions have to be in by mid-July. Partex’s 2% stake is a historical qu...
Volume: 55Issue: 26Published at Mon, 25 Jun 2012 -
Oman Anticipates More LNG Exports On Back Of BP Upstream Output
...ditional exports in the period post-2016 after BP has ramped up to ‘to be agreed with government’ production levels for tight gas. In 2014 plans for 2016-onwards production and demand levels will be firmed up and the options to export, or not, will be clearer.” Oman LNG (government 51%, Shell 30...
Volume: 55Issue: 26Published at Mon, 25 Jun 2012 -
BP Starts Drilling Of First Risha Gas Well
...said to be currently receiving 30mn cfd of gas from Egypt instead of the 300mn cfd needed to fuel the country’s power plants (MEES, 11 June). Jordan Plans LNG Terminal By 2014 Jordan plans to begin importing LNG via a gas terminal which is to be built on the Red Sea port of 'Aqaba by...
Volume: 55Issue: 26Published at Mon, 25 Jun 2012 -
IMF Says Kuwait’s 2012 Economic Outlook Positive Despite Political Instability
...blic Pension Fund. In 2008-09, KD5.5bn were transferred. KD1.1bn is budgeted for each year from 2010-11 to 2014-15. 4. Excludes debt of Kuwait’s sovereign wealth fund related to asset management operations. 5. Excludes special drawing rights and IMF reserve position. 6. Change in the Ku...
Volume: 55Issue: 26Published at Mon, 25 Jun 2012 -
Nogaholding Poised For Bahrain Energy Sector Expansion
...e pre-Khuff contains commercial volumes of gas. A final investment decision on pre-Khuff development is not expected until 2014. Like the GCC, which is gas-short apart from Qatar, Bahrain is a “gas consumer rather than supplier,” stresses Shaikh Mohamed. But recent developments help consumers, he sa...
Volume: 55Issue: 25Published at Mon, 18 Jun 2012 -
‘Revolutionary’ Economies Face Financing Woes
...nking On A Euro-Rebound The World Bank predicts a sharp rebound in the two key Arab Spring economies of Egypt and Tunisia, with growth of 3.6-3.8% for 2013 and 4.6% by 2014, “more in line with their underlying potential.” But this may prove optimistic given that it is predicated on a stabilization of...
Volume: 55Issue: 25Published at Mon, 18 Jun 2012 -
Iran Condensate Severely Discounted, Gulf Producers Face Changing Market
...ach full production and export capacity by 2014, but it is still unclear how it will market it all. Qatar must now determine its future direction as a condensate seller that has committed most if not all of its export availability. “Tasweeq has to ensure that it doesn’t target both condensate and LPG at...
Volume: 55Issue: 25Published at Mon, 18 Jun 2012 -
Bahrain Tender Board Continues To Evaluate LNG Import Terminal Bids
...the 5th OPEC International Seminar in Vienna on 13 June. The winner is expected to be announced before the end of the year and then the front end engineering and design (FEED) will start. The tender specifies the import of 400-800 cfd of LNG for 15 years starting in 2014. Like the other Gu...
Volume: 55Issue: 25Published at Mon, 18 Jun 2012