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Repsol To Boost Algeria, KRG Presence With Talisman Purchase
...wnstream operations in Oman, Egypt, Algeria and Morocco. Looking ahead, Repsol says that its 29.25% stake in the Reggane Nord project in Algeria, which will see first gas in 2017, will net the firm about 14,000 boe/d as it looks to expand its global footprint. Repsol has just two exploration blocks in Ir...
Volume: 57Issue: 51/52Published at Fri, 19 Dec 2014 -
Turkey Bags More CCGT Funding, Russia Pledges Gas
...the plant in 2017 (MEES, 7 November). EBRD says it will provide a loan of $250mn, comprising $200mn from its own account and $50mn syndicated to Banque Saudi Fransi. The latter is also providing parallel financing of $100mn under a murabaha Islamic financial instrument, says EBRD. The Wo...
Volume: 57Issue: 49Published at Fri, 05 Dec 2014 -
GCC Aid For Egypt Benefits Gulf Independents
...w blocks, taking two in the Nile Delta. The company last month said it had been paid $47mn (in Egyptian pounds) by Cairo, although $11mn of this has been ring-fenced for spending on its plans to expand its Egyptian output to 160mn cfd by 2017 (MEES, 24 October). Under the deal Dana Gas is allowed to ex...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Dana: Egypt, KRG Payment
...na’s Egypt production by 160mn cfd and 5,600 b/d of condensate by 2017. $18Mn From The KRG In Iraqi Kurdistan, Dana Gas says it received a cash advance amounting to $18mn, again a small part of the hundreds of millions of dollars the company says it is owed in back payments for gas an...
Volume: 57Issue: 43Published at Fri, 24 Oct 2014 -
Abu Dhabi Boosts Offshore Output As Umm Lulu Comes Online
...m Lulu, 100,000 b/d is set to come from expansion of ADMA-OPCO’s Lower Zakum field and 170,000 b/d from the SARB and Nasr fields. ADMA-OPCO’s plans are part of ADNOC’s strategy to raise production capacity from around 3mn b/d to 3.5mn b/d, initially expected in 2017. Yet ADNOC’s target pr...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
MOL Confident Of Future In Kurdistan
...tends to raise production from the block to an expected minimum 50,000 boe/d by 2017-18. Early production from Akri Bijeel began in March this year at a rate of 3,500 boe/d and Mr Dodds says it is expected to ramp up to 10,000 boe/d by the end of the year. The temporary facilities are to test zones wh...
Volume: 57Issue: 41Published at Fri, 10 Oct 2014 -
KUFPEC Plants First Gulf Flag In North American Shale
...rth American upstream chief says. KUFPEC says that the results of wells drilled by Chevron and other firms with acreage in Kaybob are “comparable to the best in the US Eagle Ford shale play.” Chevron and KUFPEC will conduct a full appraisal drilling program between this year and 2017, to be followed by...
Volume: 57Issue: 41Published at Fri, 10 Oct 2014 -
Qatar Petroleum Looks To The Future After Board Shake Up
...pire in 2017, though the Danish firm expects to keep the field, sources tell MEES. Maersk is happy with Mr Kaabi’s new role at QP – Mr Kaabi is thought to understand the importance of continuity in operatorship of fields. Production at Shaheen recently fell by 15,000 b/d to 285,000 b/d, due to planned ma...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Oman’s Orpic In Catalysts R&D Venture
...finery capacity from 116,000 b/d to 197,000 b/d by 2017 (MEES, 9 May). For Orpic, the deal will provide valuable access to catalysts technology, since Middle East refiners largely depend on outside companies for catalysts at a time when regional demand is growing in line with refining capacity. Gr...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
Delek’s Leviathan Development Fund Raising Gathers Pace
...rtners are looking to double Tamar’s gas output capacity to 20-22 bcm/year (around 2bn cfd) by building a third delivery pipeline by 2017. Current capacity is 1bn cfd, with output averaging 750mn cfd (MEES, 16 May). At Leviathan, Noble, Delek and partner Ratio Oil (15%) are looking to finalize a de...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
Business As Usual For ADCO After Majors’ Departure
...the fact that the fields lie in an environmentally sensitive area. The UAE is targeting production capacity of 3.5mn b/d from 2.8mn b/d currently through further development of its onshore and offshore fields by 2020, somewhat later than the original 2017-18 target. This delay is due to a host of...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Egypt To Slash Petroleum Subsidies As Part Of New Budget
...% of GDP to health, education and scientific research by 2017, compared to 6% of GDP in 2013-14. It will aim to achieve sustained economic growth and restore confidence in the Egyptian economy, by adopting a number of reforms intended to correct structural imbalances in public finances, and achieve fi...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Egypt: Receivables Rise Again
...d-2013. Meanwhile in its 16 May preliminary 2013 results announcement, the firm says that first gas from the 2.1 tcf Ain Tsila field, the company’s “most significant asset,” “now appears more likely to occur in 2018 than the previous estimate of late 2017.” FEED is set to begin later this year, wh...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
KPI Positive On China JV
...16, or early 2017, the Vietnamese refinery will exclusively process 30.2° API Kuwait export crude....
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Hamad Bin Jasim Returns With $1.6bn Heritage Oil Takeover
...nths until reaching six active rigs in 2017, Heritage says. The block has 1.1bn barrels of remaining 2P reserves, of which Heritage’s net share is 277mn barrels, the firm says, adding that the block also contains 2.5 tcf of undeveloped gas, as well as “deeper exploration potential.” Production at OM...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
CNPC In Abu Dhabi Upstream Deal
...ing additional barrels online. Abu Dhabi hopes to boost oil production to 3.5mn b/d from 3mn b/d by 2017 – though MEES understands that the target will not be achieved until at least 2020 (MEES, 11 April). In addition to the KNOC/GS Energy concession, Germany’s Wintershall and Austria’s OMV (24.9%-ow...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Chevron Taps MENA For Output Boost
...REGIONAL Chevron Taps MENA For Output Boost Chevron is targeting a 25% increase in its oil and gas production by 2017 from about 2.6mn boe/d in 2013 with the Middle East expected to play a pivotal role in the expansion. The company intends to invest around $3.2bn in exploration an...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
RWE-Dea Sold To Russian Investor Group
...bstantial MENA presence. Dea’s regional portfolio is anchored in Egypt, where it started up gas production at its Disouq concession in the Nile Delta last September. The company also has around 30% of the West Nile Delta project it is developing with BP. Start-up is scheduled for 2017, after negotiation ov...
Volume: 57Issue: 12Published at Fri, 21 Mar 2014 -
Wintershall To Partner BP, Mubadala For North Africa Expansion
...ggane 19.5% Repsol, S’trach, Edison 285mn cfd 56mn cfd $585m 2017 Libya: NC193,195 100% n/a 30...
Volume: 57Issue: 11Published at Fri, 14 Mar 2014 -
Petrofac Bags $1.2Bn Oman Gas Deal
...ll as an associated condensate processing system, a power generation plant, a water treatment system and other associated infrastructure. Petrofac says it will complete work on the CFP by 2017 in time for startup of Khazzan production – first gas is slated for late 2017 under the development pl...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014