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Oman’s OQEP Targets 300,000 Boe/D By 2030
...EP’s working interest was hovering around 40,000 boe/d until two major projects came online in 2017, driving rapid growth; namely the expansion of its Bisat oil field in Block 60 and the startup of the BP-led 1bn cfd first phase Khazzan tight gas project in Block 61 (BP 40%op, OQEP 30%, Petronas 10...
Volume: 69Issue: 12Published at Fri, 20 Mar 2026 -
IOCs Bullish On Libyan Outlook As Security Situation Improves
...ergy Services Reunited (NESR), which has provided oilfield services in the Middle East and Asia Pacific regions since 2017, and SLB which is partnering with Arkenu. “North Africa remains a key growth pillar, led by a surge of activity in Libya,” NESR CEO Sherif Foda said in his firm’s Q4 earnings ca...
Volume: 69Issue: 09Published at Fri, 27 Feb 2026 -
TotalEnergies MENA Portfolio: Building On Growth
...rgest IOC in the region in 2017 (MEES, 23 March 2018) and has consolidated its position in the years since. If anything, TotalEnergies is more committed than ever to this plan going forward; “I have one dream, which is to put TotalEnergies in each country of the Middle East,” CEO Patrick Pouyanné told th...
Volume: 69Issue: 07Published at Fri, 13 Feb 2026 -
Cronos To Bolster Egypt’s Gas Hub Ambitions
...forts to change Damietta’s configuration to increase flexibility have not had sufficient impact. Eni had hoped that gas production from Zohr, which started up in late 2017, would provide the feedgas for Damietta. But Zohr’s output has collapsed from 2.74bn cfd in 2021 to less than 1.3bn cfd cu...
Volume: 69Issue: 03Published at Fri, 16 Jan 2026 -
Lower Prices Hit OQEP Profits In Q3
...rrently under testing.” If a commercial discovery is made, it will be the block’s first after previous operator Maersk drilled a series of dry wells (MEES, 17 February 2017). Alongside these two fields it also operates Block 54 (60%), which borders Block 53, where Genel Energy secured a 40% stake in Ma...
Volume: 68Issue: 47Published at Fri, 21 Nov 2025 -
QatarEnergy Expands Offshore Egypt, Partners Shell
...nsiderable acreage nearby. QatarEnergy has moved swiftly to develop a strong presence in Egypt’s upstream as bilateral relations thawed after the end of the 2017-2021 Qatar embargo (MEES, 23 June 2017). Relations are now at their warmest since the 2013 ousting of President Mohamed Morsi. More recently, Eg...
Volume: 68Issue: 41Published at Fri, 10 Oct 2025 -
Adnoc Subsidiaries To Distribute $43bn In Dividends By 2030
...pital through the listing of subsidiaries. The firm made a splash in 2017 when it listed 10% of its retail fuel subsidiary Adnoc Distribution on the Abu Dhabi Securities Exchange (ADX). After the $851mn initial public offering, the energy giant went on to list stakes in five other firms: Adnoc Drilling (20...
Volume: 68Issue: 41Published at Fri, 10 Oct 2025 -
US Sanctions On Vs Oil Terminal Give Iraq A Headache
...ll as Iraqi oil” in the past through AIS signal spoofing in the Gulf. Iraqi authorities are investigating whether any volumes had been sold to either of the two companies in recent months. Between 2017 and 2019, Mr Said’s UAE-based Al-Iraqia Shipping Services & Oil Trading FZE (AISSOT) was given ex...
Volume: 68Issue: 29Published at Fri, 18 Jul 2025 -
KRG Signs US Firms Up To New Gas Development Contracts
...rchased by US Crest Energy International in 2017 and taken private (MEES, 2 June 2017). “I’m very pleased to be here again back in Washington, especially to witness and monitor the signing of these two very important deals. Both companies, HKN and WesternZagros, have been operating in Kurdistan for ma...
Volume: 68Issue: 21Published at Fri, 23 May 2025 -
Eni Revises Up Zohr Reserves But Output Decline Continues
...ar-on-year, gives cumulative production since the field started up in late 2017 of 5.34tcf, implying an original recoverable resource of 9.84tcf (see chart 1). Zohr’s slump has been the key driver in Egypt’s overall gas output decline, with the field making up 37% of last year’s eight-year low 4....
Volume: 68Issue: 15Published at Fri, 11 Apr 2025 -
BP Seeks To Build On Historic Middle East Foundations In ‘Return To Upstream’ Strategy
...ream. BP returned to the remodeled concession in December 2016, after the original concession agreement expired in 2014, and the current agreement runs until end-2054. Return to Adco lifted BP’s net Abu Dhabi output to a record 257,000 b/d in 2017, but after the offshore Adma concession expired at the en...
Volume: 68Issue: 12Published at Fri, 21 Mar 2025 -
Oxy: UAE Gas Boosts ‘International’ Prospects
...osted the firm’s global output by 4% and that of gas by 12%, in both cases the highest level since 2020. The firm has slimmed down its international portfolio, ditching positions in Bahrain, Yemen and Libya (MEES, 12 August 2016 & MEES, 10 February 2017) and focusing its slimmed-down international fo...
Volume: 68Issue: 09Published at Fri, 28 Feb 2025 -
Middle East Oil Exports In 2024: A Year Of Transition
...sily breaking 2021’s previous record of 20.0%. Crude still accounts for nearly 80% of total exports, but with more than 22mn barrels of oil being exported from the region every day, a shift of a single percentage point equates to substantial volumes: refined products exports are up by 1.5mn b/d since 2017...
Volume: 67Issue: 51/52Published at Fri, 20 Dec 2024 -
UAE Gas Growth Outlook Revised Up Sharply
...st, with its abundance of low-cost energy resources certainly has a strong business case to attract AI data centers, and the UAE has made no secret of its plans to capitalize on this. It appointed a minister of state for artificial intelligence in 2017, launching the UAE strategy for AI in the same ye...
Volume: 67Issue: 50Published at Fri, 13 Dec 2024 -
QatarEnergy Expands In Egypt Amid US LNG, Namibia Exploration Setbacks
...oust Doha-backed Islamist president Mohamed Morsi. Further straining relations, Egypt also participated in the Saudi-led 2017-2021 embargo of Qatar, but that all appears to be water under the bridge, especially if Qatar’s deep pockets can help Cairo fix its finances. MAJOR PA...
Volume: 67Issue: 46Published at Fri, 15 Nov 2024 -
DME Oman Trades Soar As It Clinches Tadawul Investment
...ont-month trading volumes soared by 22% year-on-year over the first half of 2024, rising to the highest level since 2H 2017 (see chart 1). Momentum has been building for some time as physical traders grow increasingly confident in the contract. The DME Oman futures contract is a physically de...
Volume: 66Issue: 37Published at Fri, 05 Jul 2024 -
First Oil Export From UAE’s Belbazem
...velopment of Bu Haseer’s modest reserves economical, and Al Yasat has pursued a similar approach with Belbazem (MEES, 28 May). Outside of Al Yasat, CNPC is also present at Abu Dhabi’s largest concession, the 2mn+ b/d Adnoc Onshore concession. CNPC was awarded an 8% stake at Adnoc Onshore in 2017, ce...
Volume: 67Issue: 22Published at Fri, 31 May 2024 -
QatarEnergy Boosts ExxonMobil East Med Collaboration With Egypt Farm-In
...up in breaking off relations – returning $7bn in loans and throwing Al Jazeera journalists in jail, among other measures (MEES, 8 July 2018). Egypt was more than happy to jump on the bandwagon of the Saudi-led embargo of Qatar from 2017 which finally came to an end in January 2021 (MEES, 8 Ja...
Volume: 67Issue: 20Published at Fri, 17 May 2024 -
TotalEnergies Takes FID On 1mn t/y ‘Low-Carbon’ Oman LNG Bunkering Hub
...ctor in recent years. Output has risen every year for nearly a decade reaching an all-time high of 52bcm last year, and with growth attracting increased investment from international energy majors, the upwards trajectory looks set to continue. Driven by BP’s 2017 start-up of the massive 1.5bn cfd Kh...
Volume: 67Issue: 17Published at Fri, 26 Apr 2024 -
QatarEnergy Signs Long-Term LNG Deal With Price-Sensitive Bangladesh
...ne 2017). Then in 2021, Qatar signed a deal with trading firm Vitol to supply 1.25mn t/y of LNG to Bangladesh until 2028. This was followed in June 2023 with another QatarEnergy-Petrobangla deal, this time for 1.8mn t/y for 15 years from 2026 (MEES, 2 June 2023). With the new deal’s full 1mn t/y ki...
Volume: 67Issue: 05Published at Fri, 02 Feb 2024