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Iraq: Another New Gas-Focused Bid Round – Can It Attract Major Interest?
...cluding in Saudi Arabia). The structure includes two LR6 blocks on offer: North and South Rutbah. Elsewhere in Anbar, the Akashat block lies on the Syrian border. A 2011 map from Cambridge Carbonates shows indications of previous drilling activity near the block which is believed to have eight leads th...
Volume: 66Issue: 25Published at Fri, 23 Jun 2023 -
Kuwait: Another Cabinet, Another New Oil Minister
...med had been a political outcast since 2011 when he was forced to resign under the threat of parliamentary questioning over allegations of corruption in contracts worth $900mn. This, amongst other factors, led to the whole cabinet resigning (MEES, 5 December 2011). Sheikh Ahmed had been involved in...
Volume: 66Issue: 25Published at Fri, 23 Jun 2023 -
BP & Adnoc’s Landmark NewMed Deal: Testing the Water or Troubled Waters?
...e operated by US major Chevron. While Leviathan goes from strength to strength with plans to expand capacity from 1.2bn cfd to 2.1bn cfd set to be finalized by end-2023 and FLNG a leading option, Aphrodite has remained undeveloped since its 2011 discovery. That could change with Chevron (35%op), Sh...
Volume: 66Issue: 23Published at Fri, 09 Jun 2023 -
Chevron Submits Aphrodite Plan As Nicosia Attempts Strategy Shift
...e field, following its 2011 discovery, potentially more important will be a gas sales agreement with Egypt. While the Aphrodite partners will have one eye on exporting some volumes as LNG – the WDDM facilities land at Idku, at infrastructure adjacent to the 7.2mn t/y ELNG export terminal (also op...
Volume: 66Issue: 22Published at Fri, 02 Jun 2023 -
Libya’s R Lanuf Back Online
...rolysis gasoline (MEES, 14 January 2008). Output capacity also includes 172,260 t/y of gas used to fuel the plant and 12,700 t/y of hydrogen which is used both for hydrogenation at the ethylene plant and at the polyethylene plant whose design capacity was 160,000 t/y before Libya’s 2011 revolution. “Wi...
Volume: 66Issue: 20Published at Fri, 19 May 2023 -
Cyprus’ Aphrodite: Chevron Spuds Crucial A3 Well
...Drilling has started at Cyprus’ 4.5tcf Aphrodite field. Will results from this second appraisal well finally see the field’s partners, led by US major Chevron, submit a development plan? To say that development has been slow at Cyprus’ 4.5tcf Aphrodite field, discovered in December 2011, wo...
Volume: 66Issue: 18Published at Fri, 05 May 2023 -
Cyprus’ Aphrodite: Operator Chevron Mulls Cut-Price Tie-Back To Egypt Subsea
...r the 2011 discovery which lies 160km offshore on the Cyprus/Israel maritime border in 1750ms water depth. A development plan approved by Nicosia in November 2019 as part of a renegotiated PSC (MEES, 8 November 2019), envisaged five production wells and output of 800mn cfd, with tie-back di...
Volume: 66Issue: 14Published at Fri, 07 Apr 2023 -
Iraq’s Akkas & Mansuriya Fields: Back On Offer
...arded in 2011 to a consortium led by Turkey’s TPAO (22.5%op) alongside Korea’s Kogas (15%), and Kuwait Energy (since taken over by Hong Kong-listed UEG, 22.5%) and state-owned Oil Exploration Company (OEC 25%). Following IS’ ouster, disagreement on commercial terms with operator TPAO pushed Baghdad to ta...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Adnoc Partners With BPFor Transformative Israel Entry
...so holds a 30% stake at Cyprus’ 4.5tcf Aphrodite. Barely 30km apart and discovered within a year of each other, 2010 and 2011 respectively, the two fields are at very different states of development. Leviathan produced a record 1.103bn cfd last year, bringing in gross revenue of $2.5bn, while Ap...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
‘It’s A Beautiful Asset’: Chevron Talks-Up East Med Expansion Plans
...rect Israel-Egypt pipeline, this one a 600mn cfd onshore route linking Israel’s southern gas network with the Egyptian Sinai via the border crossing of Nitzana. APHRODITE BECKONS As for the potential for long-stalled development of Cyprus’ 2011 Aphrodite discovery, all eyes are now on an...
Volume: 66Issue: 11Published at Fri, 17 Mar 2023 -
Egypt Gas Output Slump Means Lower LNG Exports Despite Record Israeli Flows
...lumes of 1.27mn tons (0.56mn tons Idku, 0.71mn tons Damietta) are the highest for the first two months of the year since 2011 – spot LNG prices have eased considerably in recent months (see p20), reducing the LNG revenue bounty for Egypt’s stretched economy (MEES, 24 February). 1: EGYPT GAS OU...
Volume: 66Issue: 11Published at Fri, 17 Mar 2023 -
Cyprus: New Energy Minister
...major ExxonMobil is also eying further drilling in its Block 5 and 10 acreage this year following disappointing results from last year’s appraisal well of 2019’s Glaucus discovery on Block 10 (MEES, 10 February). The priority though will be the decision regarding Cyprus’ first gas discovery, 2011...
Volume: 66Issue: 09Published at Fri, 03 Mar 2023 -
Tunisia’s Upstream: On Its Last Legs?
...cord 98,900 b/d for 2022. With chronic instability since Tunisia’s 2011 revolution having led to an investment collapse the country has gone from domestic oil output almost meeting demand in 2010 to a record shortfall for 2022 when domestic output equated to just 36% of demand (see chart 1). It...
Volume: 66Issue: 08Published at Fri, 24 Feb 2023 -
Israel-Egypt Energy Ties Deepen As 2022 Sees Record Gas Flows
...tacks in the Sinai, though growing gas shortages in Egypt were the underlying reason, as well as changing political currents in Egypt following the 2011 ouster of President Mubarak (MEES, 30 April 2012). Sameh Fahmy, the minister who inked the deal with Israel, was thrown in jail post-Revolution, al...
Volume: 66Issue: 08Published at Fri, 24 Feb 2023 -
Egypt Gas Output Slumps For Q4, Consumption Down More For 12-Year High LNG Exports
...s the lowest December figure since 2015. Add in the record Q4 imports of 709mn cfd from Israel and Egypt was able to export a bumper 1.62bn cfd of gas for Q4, the highest figure in Jodi data stretching back to the start of 2011. Of this, 1.56bn cfd was exported as LNG and 53mn cfd to Jordan. Fi...
Volume: 66Issue: 08Published at Fri, 24 Feb 2023 -
Saudi Efforts To Cut Oil Burn Take Backwards Step In 2022
...e year, crude burn rose sharply in November and December. Crude burn increased by 48,000 b/d month-on-month to a December record of 477,000 b/d, smashing the previous record of 424,000 b/d from 2011 in the process. Meanwhile fuel oil burn dropped by 36,000 b/d for December. Again, this shift to...
Volume: 66Issue: 08Published at Fri, 24 Feb 2023 -
Oman Export Revenues Leap 47% To Record $66bn For 2022
...ne 2022. But this proved a temporary blip, with volumes rebounding to 819,000 b/d for September. India took the second highest amount of Omani oil, averaging 85,000 b/d in 2022 – the highest since the record 88,000 b/d set in 2011. However, exports to India fluctuated throughout the year, with In...
Volume: 66Issue: 08Published at Fri, 24 Feb 2023 -
TotalEnergies Charges Ahead To 2022 Mena Oil Output Record
...ain sailing. Key projects in Syria and Yemen have been offline since 2011 and 2015 respectively amid devastating conflicts there. Net gas output last year was barely half the record 1.46bn cfd set in 2011 (see chart 4). But this hasn’t prevented Total from seeking more projects in the region, al...
Volume: 66Issue: 07Published at Fri, 17 Feb 2023 -
Chevron Eying Egypt Tie-In For Cyprus’ Aphrodite
...tober 2020). The US major’s input, expertise and deep pockets could prove to be invaluable if Cyprus’ dreams of developing its first ever discovery, made in 2011, are to be realized. Of course, those dreams don’t all rest on Aphrodite’s shoulders now, with Italian firm Eni and US major ExxonMobil ma...
Volume: 66Issue: 07Published at Fri, 17 Feb 2023 -
Dana Gas Snags Improved Egypt Fiscal Terms
...22, some 40% down on peak output of 42,500 boe/d hit in 2011 (see chart). With falling Egypt output, Dana’s key area of production is now Iraqi Kurdistan (see p13). Dana says the slump would have been more severe in line with what it says are typical 20% Nile Delta decline rates had it not been fo...
Volume: 66Issue: 06Published at Fri, 10 Feb 2023