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Baghdad Offers Guarantees For Export Pipeline Mega-Project
...ncedes it “is a very challenging schedule,” but he argues “if we get [financial completion] sometime in the first half of 2014, it will be still effective.” Given a 36-month construction project, this should see start-up in mid-2017. He declined to comment on any investment costs or fee arrangements with Jo...
Volume: 55Issue: 52Published at Fri, 21 Dec 2012 -
Abu Dhabi’s 3.5Mn B/D Target Slips To 2019
...l Operations (ADCO) consortium – ADNOC 60%, BP 9.5%, ExxonMobil 9.5%, Total 9.5%, Shell 9.5% and Partex 2% – whose concession to run the emirate’s major onshore oil fields expires on 11 January 2014, will continue after this date. ADNOC senior management has made contradictory public statements and ha...
Volume: 55Issue: 52Published at Fri, 21 Dec 2012 -
KRG Investors Plough On Despite Rising Tensions
...[the Chevron-operated giant] Tengiz.” The KRG is pinning its hopes on opening up an independent export route, which will need support from Turkey. There are two potential pipeline projects that could impact developments by early 2014. Firstly Anglo-Turkish Genel Energy is planning an in...
Volume: 55Issue: 52Published at Fri, 21 Dec 2012 -
Northern Morocco Joins Farm-Out Fever
...rmit from early 2013 to be followed by the anticipated drilling of “at least three” exploration wells from early 2014. Seismic is also planned for the neighboring Taounate permits in 2013. Gulfsands notes that the acreage immediately to the west of the Fes permit, now operated by Triangle Energy (see be...
Volume: 55Issue: 52Published at Fri, 21 Dec 2012 -
UAE Signs Nuclear Deal With Russia
...ntract between Emirates Nuclear Energy Corporation (ENEC) and Russia’s Tenex for the UAE’s first nuclear power plant at Barakah. In August ENEC awarded nuclear fuel contracts worth a combined $3bn to six international firms. Beginning in 2014-15, Canada’s Uranium One and UK’s Rio Tinto will provide na...
Volume: 55Issue: 52Published at Fri, 21 Dec 2012 -
Petchem Firms Face Saudi Ethane Supply Restrictions
...oject is a dual‐feed cracker which will produce 1.5mn t/y of ethylene and 400,000 t/y of propylene. Sadara, however, scheduled for a 2014 startup, is unlikely to be on stream before 2016 – it has not yet started building the cracker, which will take three years. Saudi Aramco CEO Khalid al-Fa...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
SABIC Strategy Tracks Demographic Trends
...heduled to be completed in the fourth quarter of 2014. It will produce a variety of ABS grades for the automotive and electrical appliance industries (MEES, 18 June). Outside the kingdom, SABIC is focusing on joint projects in China. A joint venture between SABIC and Chinese state firm Si...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
PTT Extends Algerian Finds
...dding, comprises Blocs 443a, 424a, 414xt and 415ex around 100km south east of the Bir Seba field, PTT’s other Algerian upstream interest. Production from Bir Seba and the nearby Mouiat Oulad Messaoud field on Blocks 433a and 416b is slated for start-up at 20,000 b/d in the first half of 2014...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
SWCC Awards Yanbu’ 3 Power Plant As Capacity Expansion Takes Shape
...at 55% of work had been done on the Ras al-Zour power and desalination project, for which contracts worth a combined SR15.7bn ($4.2bn) were awarded in November 2010. He said that electricity generation at Ras al-Zour was scheduled to start in April 2013, while desalination would begin in 2014. The Ra...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012 -
Eni Returns To Libyan Exploration Drilling
...cilities (MEES, 14 September). Unlike the bulk of foreign producers in Libya who have put any possible expansion plans onto the back burner, Eni has made Libyan expansion a key part of its international production targets. First additional production could come as soon as 2014. Although some other fo...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Aramco Prepares To Enter Saudi Power Market
...ll scale procurement of up to 3gw. “KACARE recognizes that first projects will be pioneers – the objective is quality, utility-scale plants, rather than a fixed megawatt target,” he said. The next two phases – bidding for the first round will start in 2014 – could take the total to 6....
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Qatar Launches Solar Program To Conserve North Field
...to its depletion is completed in 2014. Furthermore, Qatar faces a 10% drop in its associated gas production as crude output falls. Doha also has another interest in renewables – economic diversification. The Qatar Foundation’s joint venture Qatar Solar Technologies (QSTec), is building a $1b...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
Iran’s NDF Holds $43Bn In Reserves
...978bn in March 2013 and $1.713bn in March 2014. At the end of the first half of 1390, Iran had a trade balance surplus of $36.409bn and the value of its oil and gas exports stood at $63.849bn, the CBI said. ...
Volume: 55Issue: 50Published at Fri, 07 Dec 2012 -
South Tunisia Gas Development Pushed Back
...the block was dry. Gulfsands says it plans to drill a further well in 2014. On Kerkouane a commitment well is slated to be drilled “prior to February 2014,” Gulfsands says. ADX is in the process of further reducing its remaining 30% Chorbane stake signing a 28 November letter of intent to...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Saudi Crude Burning For Power Continues To Rise
...l from the Yanbu’ refinery in 2014. But its main source of fuel will continue to be gas. Saudi Aramco’s total wellhead output averaged 9.88bn cfd in 2011. The year-end peak of 11.2bn cfd roughly equates to 7.84bn cfd of sales gas assuming a 30% loss in processing – although not all went to power ge...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Baghdad Sets Road Show Date
...velopment project. Lukoil is hoping to start ramping up a 200,000 b/d Phase 1 of the 1.8mn b/d project at the end of 2013. Field capacity could eventually rise to hit 400,000 b/d by 2014. But sometime that year, this project, and others, are likely to “hit a wall,” sources say, unless significant efforts ar...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Aramco Awards Contracts To Maintain Production Capacity
...fshore oil field – has been producing since the early 1950s and has reserves of 35bn barrels. The work will be finished by end 2014 and includes a tie-in platform and auxiliary platforms. Engineering firms bidding for the work include Houston-based McDermott and Italy’s Saipem under their existing Long Te...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Bapco Nears Sitra Decision Time
...e equivalent of 400-800mn cfd for 15 years starting in 2014. “We need the gas. Without this gas…all our other plans, all the refinery plans and modernizations mean nothing,” one Bahraini oil executive tells MEES....
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
TAQA Secures $1.1Bn Deal For BP UK Assets
...a. The deal comes amid general recovery in relations between Abu Dhabi and BP as the major seeks to renew its stakes in historic upstream concessions, which expire in January 2014 (MEES, 16 November). “We think this acquisition is a great strategic fit for TAQA,” the company’s head Carl Sh...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012 -
Algeria’s South West Gas Project Delayed To Late-2016
...gan earlier this year with a total of 41 wells, of which 24 were to be drilled before first production. Construction of gas processing facilities will begin in 2014, GdF says. GdF is operator with 49% whilst Sonatrach has its customary 51% stake. However GdF is responsible for almost two-thirds (65%) of...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012