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Eni & Total Add To Cyprus Gas Finds With 2-3tcf Zeus
...arby. Taken together such volumes would in theory be sufficient to justify the construction of a land-based LNG plant, Nicosia’s long-stated aim ever since Cyprus’ first gas discovery, 4.5tcf Aphrodite, back in December 2011 (MEES, 9 January 2012). Despite the five to-date gas discoveries, no field ha...
Volume: 65Issue: 51/52Published at Fri, 23 Dec 2022 -
Libya Calls On IOCs To Return To Work
...e country to return and “lift the force majeure declared by them.” Libya’s chaotic political trajectory since the 2011 ouster of Muammar Gaddafi has made many IOCs wary of fully engaging in the country which holds the largest proven oil reserves in Africa some 48.3bn barrels according to Op...
Volume: 65Issue: 49Published at Fri, 09 Dec 2022 -
Chevron Hits Paydirt With 3.5tcf Egypt Gas Find
...veloped 4.5tcf 2011 Aphrodite discovery. The US major only entered Egypt in 2019 when it was awarded a frontier Red Sea exploration block. In July of 2020 it took its first offshore Mediterranean acreage, when it was awarded Narges as well as two further blocks in Egypt’s unexplored West Mediterranean re...
Volume: 65Issue: 48Published at Fri, 02 Dec 2022 -
Russia’s Tatneft Returns To Libya, Again
...tneft’s on/off exploration work in Libya since the 2011 revolution set off a decade of – still ongoing – political instability. The firm last year returned to drill appraisal well ‘B2’ on Block 4, but results were not made public (MEES, 22 October). NOC says it held a meeting with Tatneft officials wh...
Volume: 65Issue: 45Published at Fri, 11 Nov 2022 -
Oman’s PDO Targets 19-Year High Crude Output
...ghest level since 2004 and more than 100,000 b/d above 2011’s nadir. PDO aims for further substantial near-term gains, with the firm targeting 700,000 b/d crude oil production by 2024 (MEES, 5 June 2020). The latest sustainability report cites the Yibal Khuff Project (YKP) as central to achieving th...
Volume: 65Issue: 37Published at Fri, 16 Sep 2022 -
Libya Gas Exports Face Uncertain Future
...e still more than a fifth lower than 2010’s record of 1.55bn cfd, according to the BP Statistical Review of World Energy (see chart 1). That record year came just before the toppling of long-time ruler Muammar Gaddafi in 2011 which set Libya onto a still-ongoing course of political instability, ma...
Volume: 65Issue: 35Published at Fri, 02 Sep 2022 -
Eni Makes ‘Big But Not Massive’ Cyprus Gas Discovery
...prus’ fourth gas discovery to-date following 2011’s 4.1tcf Aphrodite find by US firm Noble (now Chevron), 2018’s Calypso and ExxonMobil’s 5-8tcf, 2019 Glaucus. As yet though, the country does not produce any gas although it is hoping that negotiations with Chevron (35%) and its Aphrodite partners, Sh...
Volume: 65Issue: 32Published at Fri, 12 Aug 2022 -
Cyprus’ Aphrodite Enters Make Or Break Period
...a unitization agreement between Cyprus and Israel: a small portion of the field crosses into Israeli waters, where it is called Ishai. Despite Aphrodite’s discovery in 2011 and the friendly nature of the two countries’ relations, no deal has been hashed out to-date, although efforts have ac...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022 -
Egypt’s 1H 2022 LNG Exports: Europe Dominant
...Egypt exported 5.34mn tons of LNG for 1H 2022, up 57% on 1H 2021 for the highest first half figure since 2011. Perhaps not surprisingly given global LNG trade dynamics, with Europe sucking in more cargoes as it seeks to cut imports from Russia, the proportion of Egyptian cargoes he...
Volume: 65Issue: 27Published at Fri, 08 Jul 2022 -
Chevron Closing In On East Med Expansion Decisions
...velopment plan can be formulated that will see the country belatedly become a gas producer well over a decade after Aphrodite’s 2011 discovery. Nicosia will be encouraged by NewMed presentation material which indicates that the most likely scenario for Aphrodite development is tie-in to a Leviathan to Id...
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
Zohr Production Cap Pushes Egypt Output Lower
...rminals in years to come (see p12). Egyptian LNG exports of 3.31mn tons for the first five months of 2022 were up 10% on the year-ago figure of 3.02mn tons to put 2022 on track for the highest LNG exports since 2011 according to figures from data intelligence firm Kpler. A key change from recent years is...
Volume: 65Issue: 24Published at Fri, 17 Jun 2022 -
Energean Touts Modest Israel Gas Find, Hopes For More To Come
...ich offer an easier route to development – possibly as a tie-back to Karish alongside the 2011, 0.9tcf Tanin discovery. The latest find “enhances the profitability of the Karish-Tanin development,” Energean says, flagging up the potential for both tie-back to the 8bcm/y (780mn cfd) Energean Power FP...
Volume: 65Issue: 19Published at Fri, 13 May 2022 -
ExxonMobil Quits Iraqi Kurdistan
...The US supermajor’s bold 2011 Iraqi Kurdistan entry sent shockwaves through Iraq. A decade later ExxonMobil has quietly packed its bags and quit its last remaining asset, Pirmam, without producing a drop from any of the six blocks it picked up. Any prospective replacement may eye a gas-re...
Volume: 65Issue: 17Published at Fri, 29 Apr 2022 -
Cyprus Set To Launch Reduced Drilling Campaign
...Eni and TotalEnergies are set to kick-off a two-well Cyprus exploration drilling campaign next month, two years after abandoning a six-well program. Chevron appears to have shelved an appraisal well on its 2011 Aphrodite find. Italy’s Eni and TotalEnergies, partners on seven blocks of...
Volume: 65Issue: 16Published at Fri, 22 Apr 2022 -
North Africa Gas Exports To Europe Fall Amid Russian Uncertainty
...bitious, particularly given the fall in exports from North Africa in the first quarter of the year. LIBYA FLOWS LOWEST SINCE 2011 Libya, which is another key supplier of gas to Italy through the 8bcm/y (775mn cfd) GreenStream pipeline, saw its exports hit a decade-low 3.2bcm (313mn cfd) last ye...
Volume: 65Issue: 14Published at Fri, 08 Apr 2022 -
Saudi Aramco Plans 50% Gas Output Boost By 2030
...IMBS AT FASTEST RATE SINCE 2017 (BN CFD) *CONVERTED FROM BTU TO CFD UNTIL 2011. SOURCE: SAUDI ARAMCO, MEES. 2: SAUDI ARABIA OIL BURN* PEAKED WELL BELOW 2020 LEVELS LAST YEAR, BUT STILL TOPPED 1MN B/D OVER SUMMER (‘000 B/D) *CRUDE PLUS FUEL OIL CONSUMPTION. PRESUMES ALL FUEL OI...
Volume: 65Issue: 12Published at Fri, 25 Mar 2022 -
Egypt: Record 2021 Gas Output But Outlook Uncertain
...crease on December 2021’s 9,394 b/d, but still the lowest since 2011. TransGlobe says much of its “$33.1mn Egypt capital program is predominantly weighted towards 13 development wells within the Eastern Desert.” “With the finalization of the concession agreement, the primary focus of the 2022 Eg...
Volume: 65Issue: 09Published at Fri, 04 Mar 2022 -
Libya Starts New Field
...untry’s volatile operating environment since the 2011 revolution has stifled many projects which promised to significantly boost production from current levels of about 1.2mn b/d. Security challenges and financial constraints are among the biggest challenges. FURTHER PROSPECTS Agoco ha...
Volume: 65Issue: 08Published at Fri, 25 Feb 2022 -
Syria Says Oil Sector War Damages Hit $100bn As Assad Loyalists Scoop Contracts
...21). ‘STOLEN OIL’ Mr Tomeh’s estimate of Syrian wellhead production is a far-cry from pre-conflict 2011 levels of 353,000 b/d. And given that the Syrian government had lost control of the bulk of the country’s oil and gas fields to US-backed Kurdish forces (see map) it will be tough for Damascus to...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Egypt Extends Deadline On Key Offshore Block
...05). A development lease had already been granted based on four gas fields discovered by Apache, and Hess made a further discovery (Dekhila) in 2008 (MEES, 22 December 2008). But though production had been slated to begin in 2009, development never happened. Hess relinquished the block in 2011 having fa...
Volume: 65Issue: 02Published at Fri, 14 Jan 2022