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Indonesia’s Pertamina Pays $1.75bn For ConocoPhillips Algeria Assets
...rcumstances, production rarely if ever brought ‘home’, it is not always clear that this could even happen in an emergency situation. Abu Dhabi’s state investment vehicle IPIC’s 2011 purchase of Ourhoud operator Cepsa is another example of state firms expanding in Algeria at the expense of in...
Volume: 55Issue: 52Published at Fri, 21 Dec 2012 -
Libya Output Hit By Strikes
...pped to 1.54mn b/d from October’s post-revolution high of 1.56mn b/d as strikes shut Ras Lanuf for several days. Limited storage at the 220,000 b/d refinery and neighboring port – tanks destroyed during 2011’s fighting have yet to be replaced – means that problems at the refinery have a rapid impact on up...
Volume: 55Issue: 52Published at Fri, 21 Dec 2012 -
Use Of Cypriot Gas Deposits As Collateral Premature Says Kassinis
...-20% of the combined reservoir, although MEES understands that Israeli estimates put it at as much as 30-35%. Since 2011 Cyprus and Israel have been negotiating a unitization agreement on the joint exploitation of Aphrodite/Ishai. These talks are highly unlikely to be completed before the re...
Volume: 55Issue: 52Published at Fri, 21 Dec 2012 -
MENA Active Drilling Rigs, November 2012
...12* November 2012 breakdown* Nov-12 Oct-12 Nov/ Oct Sep-12 Nov-11 2012/ 2011...
Volume: 55Issue: 52Published at Fri, 21 Dec 2012 -
Cyprus Ends Gas Block Talks With French-Russian Consortium
...alleviate its debt burden – it was heavily hit by the Greek sovereign debt crisis. Block 9 is one on offer that adjoins Block 12, where Noble Energy discovered 7 tcf (198 bcm) of natural gas in December 2011. A second phase of drilling on Noble’s field, Aphrodite, is due to take pl...
Volume: 55Issue: 52Published at Fri, 21 Dec 2012 -
Politics Threatens To Bust Kurdish Oil Investment Boom
...xt? Every province will want to do the same thing. Imagine Basra? You know it would then be Game Over.” KRG Oil Production Profile (‘000 b/d) Block/Field Operator 2011 Average Production Cu...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Eni Returns To Libyan Exploration Drilling
...s been eager to tout its commitment to Libya post-revolution. It was the first international company to resume production in Libya in September 2011 (at Bu Attifel), the first to lift force majeure in December 2011 and the first to resume offshore exploration activities in February 2012. The latter wa...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Yemen Fuel Crisis Looms
...ntinues to be targeted in this way. Yemen’s oil and gas installations have been the target of choice for tribal and Islamic militants since anti-government protests created a power vacuum in early 2011. Yemen has had to contend with twelve separate attacks on its oil and gas pipelines since the st...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
South Tunisia Gas Development Pushed Back
...i a sixth. Proposed Nawara volumes were last year doubled to accommodate the feed-in of the Cherouq discovery following OMV’s February 2011 takeover of the Tunisian assets of US firm Pioneer. This deal made OMV the key operator in southern Tunisia and added 5,000 b/d to OMV’s flagging ex...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Yemen Looks To Gulf For Oil, Gas Investment
...terest in its oil and gas industry. Crude production in Yemen has been in steady decline over the past decade, with BP estimating the country’s 2011 production at 228,000 b/d, down 24% from the 2010 figure of 301,000 b/d, and 50% off 2001’s 455,000 b/d. The authorities have recently stressed th...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Deadlock Continues In Sudan – South Sudan Oil Row
...beration Movement (SPLM) in 2011, the SPLM-N remained in Sudan following the South’s breakaway from Sudan last July (MEES, 11 July 2011), and is currently most active in the Sudanese states of Blue Nile and South Kordofan. “This is impossible,” said President Kiir of Sudan’s demand. “We are in a di...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Edison Takes Stake in Israel’s Upstream Sector
...nsortium administering the 9 bcm/y capacity Al-‘Arish –Ashkelon gas pipeline. The contracts were estimated to be worth around $5-10bn over 20 years. They called for the 1.4 bcm/y exports to start in 2011, and volumes could later be expanded to 2.9 bcm/y (MEES, 20 December 2010). But the EMG line wa...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Jordan Opens Petroleum Distribution Market
...a substitute for Egyptian gas supply which had become unreliable since 2011. ...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Algeria’s South West Gas Project Delayed To Late-2016
...scussions related to the finer points of the July 2011 development plan have been ongoing “for some period of time… six months ago, I would have said that it close to finishing…but is always one week more. …we still have some small differences on how to split the rent,” Total boss Christophe de Margerie sa...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Qatari Condensate Production On The Rise
...ojects left, leaving only the downstream sector as an opportunity. Qatar Base Case Condensate Supply 2011 2012 2013 2014 2015 20...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
POGC And Sonatrach Step Up Libyan Exploration; Others Wait On Sidelines
...d Production Agreement framework, known as EPSA-IV. As part of the 2008 award POGC committed to spending $108mn drilling at least eight wells. The company shot initial seismic in 2010 and had been about to kick off a drilling campaign in February 2011 when the Revolution got into full swing. The co...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
South Sudan Oil Restart Pushed Back
...other this week after Juba was forced to delay its long-awaited oil production restart on account of some new security-related demands it says Khartoum has made. South Sudan, which broke away from Sudan in July 2011, took the unprecedented decision to shut down its near 350,000 b/d of oil pr...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
IOOC Taps NDF To Finance Upstream Projects
...ntinued operation of the Forouzan, Reshadat and Hengam fields and is expected to provide another $500mn for the development of Farzad A gas field. In November 2011 IOOC signed a heads of agreement with Petropars for the $4bn development of Farzad A. Mr Zirakchianzadeh also announced the signing of...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
Cyprus Eyes Gas Pre-Sales To Plug Finances
...ceptable. Given a 2011 GDP of €17.5bn, Nicosia would not be allowed to borrow more than €21bn, leaving it with a €7bn funding gap. Total benefit from privatization of publicly owned companies would probably not exceed €1-1.5bn, and a 30%-40% haircut by existing bondholders is by no means assured, making fo...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012 -
MENA Active Drilling Rigs
...12* October 2012 breakdown* Oct-12 Sep-12 Oct/ Sep Aug-12 Oct-11 2012/ 2011 Oc...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012