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Adnoc Gas Strategy Surges Forward
...s strategy aimed at achieving self-sufficiency for the UAE by 2030 (MEES, 9 November 2018) there are already clear signs of progress. The UAE’s net gas imports fell to 11.9bcm (1.15bn cfd) for 2018, the lowest since 2014, as output climbed faster than demand. Adnoc’s stated project targets are ea...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
Oman Offshore Ambitions Creep Forward
...rway’s DNO and Korea’s LG International allowed the contract to expire in January (MEES, 4 January). OOCEP subsidiary Musandam Oil and Gas Company has since taken over. The two Bukha fields, within Oman’s only offshore producing license, produced a modest 15,700 barrels of oil equivalent per day in 2014...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
Israel Offshore Awards: Small Firms, Smaller Commitments
...rt of the former Daniel West block. Two wells were drilled by Calgary headquartered GeoGlobal in 2012, one on each of Myra and Sara, but both came up dry (MEES, 5 December 2014). Ratio, then partnering Energean, initially attempted to farm-in to Myra and Sara in 2014 in a deal ultimately rebuffed by Is...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Yemen: Second State Firm Restarts Production
...ar that production had once again started at its Block 9 which produced 6,000 b/d before the security situation deteriorated in 2014 (MEES, 17 May). But of all these, Safer’s return, reported by Reuters, could prove to be the most consequential yet. For one thing, Block 18 is amongst the most vi...
Volume: 62Issue: 42Published at Fri, 18 Oct 2019 -
Qatar Petroleum Finalizes Idd al-Sharghi Takeover
...nce Saad al-Kaabi took over as CEO in 2014 (MEES, 14 September 2014). Under his leadership, the role of IOCs at Qatar’s oil fields has been greatly reduced, either through tighter terms or with QP taking over entirely. This week saw QP finalize its takeover of two fields, replacing US firm Occidental (Ox...
Volume: 62Issue: 41Published at Fri, 11 Oct 2019 -
Tunisia’s Upstream: Can It Emerge From A Lost Decade?
...llowing the revolution, the country’s 2014 constitution made it even more difficult for the government to award exploration blocks. In the name of oversight and transparency (key demands of the uprising, among others) the new constitution’s Article 13 stipulated that any new awards must be approved by pa...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Russia’s Stroytransgaz Bags Iraq E&P Deal
...-year contract this week to explore and produce oil and gas in western Iraq’s Block 17, a ministry statement confirms. The deal requires approval from the ministerial council, and given American sanctions on the firm due to its involvement in Russia’s 2014 annexation of Crimea, it could spark fierce US op...
Volume: 62Issue: 36Published at Fri, 06 Sep 2019 -
Iraq Sets New Oil Output Record As Jordan Exports Start
...lamic State (IS) insurgency in 2014-16, whilst Baghdad has also tested the upper limits of its export infrastructure. Since peaking at a whopping 3.63mn b/d in December (MEES, 4 January), Iraqi southern exports have averaged 3.43mn b/d throughout the first eight months of this year – less than 30...
Volume: 62Issue: 36Published at Fri, 06 Sep 2019 -
Algeria’s Gas Projects: Playing Catch-Up
...ntracts worth a combined AD53bn ($440mn) to local firms Cosider and ENGTP late last year to develop six fields around the periphery of the 4.4bcm/y-capacity Gassi Touil development, which came online in 2014. Cosider’s AD21bn contract will see it drill 25 wells and send raw gas output of 7mn m³/day (ar...
Volume: 62Issue: 36Published at Fri, 06 Sep 2019 -
Kuwait Upstream Chief Pledges Ambitious Investment To Boost Capacity
...pacity at 1.7mn b/d with a technical service agreement (TSA) in 2014, which was subsequently upgraded to an enhanced technical service agreement (ETSA) in 2016 (MEES, 15 July 2016). GAS: STEADY GAINS PLANNED When it comes to gas, KOC’s plans are at least more clear-cut. Mr Sultan says “we...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Egypt Falls Further Behind Oil Output Plan
...ntributed over 50% of the country’s overall oil output since 2014. The firm operates 25 concessions across the region through its two JVs with EGPC, Khalda and Qarun. Gross output from Apache’s Egypt fields, all in the Western Desert, fell to a two-year low of 200,400 b/d for Q2. This trend is due to co...
Volume: 62Issue: 32Published at Fri, 09 Aug 2019 -
Iraq Crude Exports Edge Up In July
...opping 40% of oil revenues. Having posted seven consecutive quarters averaging $6bn/month oil export revenues (which per annum works out to at least $72bn), it is fair to say that Iraq has escaped the 2014-2017 mess of low prices and low revenues. The challenge now is even bigger: how does Iraq tr...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
QP Expands Overseas
...nce 2014), South Africa (MEES, 8 February), and, above all, in Qatar, where Total has 30% of the 300,000 b/d Al Shaheen field. And it’s not just upstream. Last month QP signed an $8bn US Gulf petchems tie-up with ConocoPhillips (MEES, 19 July). Following the latest deal, which awaits Guyana’s re...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
Now Or Never For Leviathan As Partners Re-Float LNG Plans
...d Belgium’s Exmar to provide a Front-End Engineering and Design (FEED) study for the construction of an FLNG facility for Leviathan. This is not the first time that the partners have attempted to promote FLNG as part of Leviathan’s development. In 2014 Australia’s Woodside pulled out of a $2bn de...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
Israel Awards 12 Blocks
...though that is due to be completely sold off by 2021 as part of another antitrust ruling from 2014 (MEES, 2 January 2015). Edison early this year said it was relinquishing Royee but later committed to drilling the block by September as part of a deal with 70% partner Ratio, which would in turn take 15...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
Kuwait-Saudi Talks Spark Renewed Speculation Over Neutral Zone Restart
...tween the neighboring states, but was shut in over the course of 2014 and 2015 due to disputes over its management. Kuwait’s state news agency Kuna reported that the 24 July talks came amid a series of consultations and coordination over how to restart PNZ production. These discussions have resolved al...
Volume: 62Issue: 30Published at Fri, 26 Jul 2019 -
Algeria: Fresh Output
...19 averaged 1.025mn b/d, and while this is up 5,000 b/d year-on-year, it still represents a 15% fall over the past five years. Output averaged 1.209mn b/d in 2014, but has declined each year since amid investment declines. The picture on the gas front is also worrying. In the first four months of 20...
Volume: 62Issue: 29Published at Fri, 19 Jul 2019 -
Baghdad-Erbil Oil Sharing Dispute Heats Up
...$13.4bn to the KRG. Kurdish crude tends to sell at an $8/B discount to Iraq crude export price, so at a $54.50/B selling price (the year-to-date average) 250,000 b/d works out to $5bn over 2019. The initial agreement to hand over Kurdish crude in return for revenues was struck in late 2014 wh...
Volume: 62Issue: 27Published at Fri, 05 Jul 2019 -
Egypt-Israel Settlement Paves Way For Groundbreaking Gas Shipments
...om the already-producing 11tcf Tamar field (MEES, 23 February 2018). Dolphinus was founded in 2014 by Egyptian businessmen including Khaled Abu Bakr, former CEO of Egyptian power firm Taqa Arabia and current Executive Chairman of the Egyptian Gas Association (MEES, 5 April 2019). POLITICAL BA...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Egypt Gas: Nour Disappoints
...erated West Delta Deep Marine (WDDM) field, where output collapsed from 1.3bn cfd in late 2013 to just 250mn cfd currently, due to Cairo’s demand for more gas (MEES, 7 February 2014). ...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019