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Bulgaria In Negotiations To Buy Egyptian Gas From 2011
...Middle East Economic Survey VOL. LI No 51-52 22/29-Dec-2008 EGYPT Bulgaria In Negotiations To Buy Egyptian Gas From 2011 Bulgaria’s Minister of Economy and Energy Petar Dimitrov was quoted by local media on 4 December as saying that Bulgaria was negotiating the supply of up to...
Volume: 51Issue: 51Published at Mon, 22 Dec 2008 -
Putin Increases Pressure On Ukraine To Repay Gas Debt
...liveries if the debt dispute is not settled before the end of December. According to the October agreement, Russia would charge Ukraine less than the European-level gas price until 1 January 2011, with the two parties agreeing on a steady price for a two-year transition period in 2009-10. Ukraine says th...
Volume: 51Issue: 50Published at Mon, 15 Dec 2008 -
Twenty-One Companies Pre-Qualified For Area 47, As Verenex Mulls Its Options
...early November, $800-850mn would need to be spent on bringing the oil and gas discoveries at the ‘A’ field on-stream by 2011, at initial rates of 50,000 b/d and 50mn cfd respectively. Verenex and Medco would shoulder 25% of the costs each, with NOC funding the rest. Under the EPSA-4 contract, Ve...
Volume: 51Issue: 50Published at Mon, 15 Dec 2008 -
Iran’s Refining Expansion On Track To Meet Gasoline Deficit, Says FACTS
...adan. These three projects alone will produce enough gasoline to eliminate all imports in the short term. The Abadan upgrade will be completed in 2010, Arak in 2011-12 and Isfahan in 2012-13.” There will be crude distillation unit expansions at the Lavan, Arak, Tabriz and Isfahan refineries, which wi...
Volume: 51Issue: 49Published at Mon, 08 Dec 2008 -
UAE Liquidity Squeeze Raises Growth Prospect Questions, Says S&P
...2011 at almost $40bn (MEES, 1 December). The average refinancing requirement during this period represents a substantial 8% of the UAE’s GDP. This is equivalent to 10% of total bank loans, on average. While this is a significant magnitude, S&P believes refinancing risks will remain manageable de...
Volume: 51Issue: 49Published at Mon, 08 Dec 2008 -
Verenex Says Corporate Sale Of Libyan Assets Is ‘One Strategic Option’
...w weeks after the company submitted a final appraisal report to NOC for the first phase of the development of those discoveries (MEES, 17 November). The development plan envisages oil production of around 50,000 b/d and gas production of 50mn cfd, starting in 2011. But it is expected to cost ar...
Volume: 51Issue: 48Published at Mon, 01 Dec 2008 -
Oman Signs EPSA With Occidental And Mubadala
...mmence immediately and that production from the area in question is expected to begin in 2010 and reach plateau of about 165mn cfd (27,500 barrels of oil equivalent per day – boed) by the end of 2011. Occidental’s net share of production at plateau is expected to be approximately 10,000 boed, with Mu...
Volume: 51Issue: 48Published at Mon, 01 Dec 2008 -
Hyproc Receives New LPG Carrier From Japan’s Namura, Algerian LPG Exports Set To Rise
...signed to expand and modernize Hyproc’s fleet. The company expects to receive three more LPG carriers, each with a capacity of 35,000 cu ms, between 2009 and 2011, two of which are being constructed by Korea’s Hyundai Heavy Industries (HHI) following an agreement signed in September (MEES, 8 Se...
Volume: 51Issue: 46Published at Mon, 17 Nov 2008 -
Iran’s Oil Production Not Expected To Increase Medium-Term, Says FACTS
...0 B/D) Phase 1 (Timeline) Phase 2 (Timeline) Anaran StatoilHydro (Likely) 68 (2011-12) 130 (2015) Azadegan PetroIran* 50 (2009) 170 (2013-14) Yadavaran Sinopec 85 (20...
Volume: 51Issue: 46Published at Mon, 17 Nov 2008 -
GCC Countries To Meet On Gulf Power Grid Project
...oject and to sign a power trading agreement. The $3.9bn project is designed to link GCC members’ domestic power systems by 2011. Speaking in Abu Dhabi on 26 October, Yusuf Ahmad Janahi, chairman of the GCC Interconnection Authority, said Phase 1 of the project, which began in 2001, was 80% complete an...
Volume: 51Issue: 44Published at Mon, 03 Nov 2008 -
Construction Of Burgas-Alexandroupolis Oil Pipeline Delayed By A Year
...oil from Russia. The pipeline is expected to become operational by late 2011, with construction estimated to cost €1bn (MEES, 17 March)....
Volume: 51Issue: 43Published at Mon, 27 Oct 2008 -
Saipem Extends Drilling Contract In Egypt’s West Delta Deep Marine
...laysia’s Petronas (25%) and the state-owned Egyptian General Petroleum Corporation (EGPC – 50%) which supplies the Egyptian LNG plant at Idku and the domestic market. BG told MEES in May that the $3bn it is planning to invest in Egypt between now and 2011 is specifically intended to maximize the de...
Volume: 51Issue: 42Published at Mon, 20 Oct 2008 -
RWE Dea Outlines North Africa Production Plans
...rth Idku field in the offshore Nile Delta, which is due to start production in 2010 at a rate of 1.1 bcf/year. RWE estimates its capital expenditure for Egypt, Libya and Algeria between now and 2011 will be around €550mn. A company spokeswoman told MEES that the numerous oil discoveries in Libya th...
Volume: 51Issue: 42Published at Mon, 20 Oct 2008 -
Saudi Aramco Further Increases Scope Of Karan Gas Project
...expanded Khursaniyah gas plant for planned end-December 2011 start-up. Karan gas is high in sulfur, adding to the cost development, which will far outweigh the usual 75 cents/mn BTU internal Saudi gas price (MEES, 28 January). Reserves of around 7 tcf have been announced for the field, but ME...
Volume: 51Issue: 42Published at Mon, 20 Oct 2008 -
Occidental Wins $500Mn Abu Dhabi Field Development Deal
...,000 boed of capacity from as soon as 2011, the statement added. Ramhan, located in very shallow water near the Abu Dhabi refinery, was tested in 1992, flowing at a combined rate of 1,750b/d and 14mn cfd. In addition to the initial field developments, Occidental’s $500mn investment program “will in...
Volume: 51Issue: 41Published at Mon, 13 Oct 2008 -
Armenia To Lose Russian Gas Subsidies
...e gradual harmonization in the prices paid by Armenia with what Gazprom charges its European clients. This should be achieved by 2011. Armenia will pay $154/1,000 cu ms for gas next year, 40% up from the current price, rising to $200/1,000 cu ms in 2010. Next year’s pricing will come into effect on...
Volume: 51Issue: 40Published at Mon, 06 Oct 2008 -
Sinopec To Take Over Canada’s Tanganyika Oil
...volved in a 100,000 b/d refinery project in Abu Khashab, northeast of Deir Ez-Zor, planned to start up in 2011. Given China’s rising demand for energy, Chinese companies are expected to press on with efforts to boost their oil investments in the oil producing areas of the Middle East. To go through, the Ta...
Volume: 51Issue: 40Published at Mon, 06 Oct 2008 -
Sonatrach Hails LNG Production Landmark
...e at Skikda, with one more being built at each terminal. The 4.5mn tons/year train being built at Skikda by US firm KBR is due for completion in November 2011, while the new 4.7mn t/y facility at Arzew, that Italy’s Snamprogetti and Japan’s Chiyoda recently won the EPC contract for, is to begin op...
Volume: 51Issue: 39Published at Mon, 29 Sep 2008 -
Eni To Purchase First Calgary Petroleums
...tural gas. The Italian major estimates that the acquisition of FCP will increase its reserves by approximately 190mn boe of proven and probable (2P) reserves within its own Algerian portfolio. Production in the block is scheduled to come on-stream in 2011 with a plateau of Eni’s share production re...
Volume: 51Issue: 37Published at Mon, 15 Sep 2008 -
Lukoil To Bring GdF Into Yamala Block Exploration
...ploration phase of the license by 2011. GdF will cover 15% of costs already incurred. The PSA work obligations include the drilling of two wells and the acquisition of 2D and 3D seismic data....
Volume: 51Issue: 37Published at Mon, 15 Sep 2008