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Qatarenergy Egypt Entry Could Be Prelude To Further Energy Partnerships
...verage our joint expertise,” Shell Egypt country manager Khaled Kacem says. GEOPOLITICAL SHIFT QE’s upstream entry is of geopolitical significance in that Egypt under President Sisi was an enthusiastic backer of the Saudi and UAE-led embargo of Qatar from mid-2017 (MEES, 9 June 2017...
Volume: 64Issue: 50Published at Fri, 17 Dec 2021 -
Gulf Rig Count Surges In October
...ver mind 2019’s high of 68 (see chart 2). 2: ABU DHABI’S RIG COUNT ROSE BY FOUR IN OCTOBER, ALL OIL RIGS KUWAIT SLUMP *Kuwait long vied with the UAE as the GCC’s number two producer. Until 2017 Kuwait typically had a higher rig count than Abu Dhabi (MEES, 9 July). Bu...
Volume: 64Issue: 45Published at Fri, 12 Nov 2021 -
US Majors: Record Permian Output, More To Come
...me value for a lot less spend,” he adds, referencing a strategy first set out in 2017 (MEES, 17 February 2017) and expanded upon two years later (MEES, 15 March 2019). “We invested in the infrastructure to make sure that we were in a position, once we focused in on and identified the areas we wa...
Volume: 64Issue: 44Published at Fri, 05 Nov 2021 -
Russia’s Tatneft Returns To Libya
...nister (see p18). Though exploration successes in Libya from the four international bid rounds held after 2004 were few and far between, Tatneft was among those to report modest finds (MEES, 28 July 2017). Tatneft holds eight exploration blocks in Libya spread across the Ghadames and Si...
Volume: 64Issue: 42Published at Fri, 22 Oct 2021 -
Sonatrach Breaks Ground On Turkey Petchems
...,500 b/d) of propane for use as feedstock until 2040. This is equivalent to around 10% of Algeria’s current LPG exports of 197,000 b/d according to data intelligence firm Kpler (see chart 1). The deal will also solidify Turkey as Algeria’s no. 1 LPG customer, a position it has held since 2017. Algerian ex...
Volume: 64Issue: 41Published at Fri, 15 Oct 2021 -
Adnoc Adopts Targeted Approach In Search For Unconventional Partner
...ake in the Upper Zakum offshore oil field, where the partners target 1mn b/d by 2024 (MEES, 17 November 2017). In 2019 the respective CEOs announced that they had discussed “substantial new conventional and unconventional exploration opportunities in Abu Dhabi.” DRILLING EXPANSION Un...
Volume: 64Issue: 37Published at Fri, 17 Sep 2021 -
Adnoc Drilling Hopes October IPO Will Lay Groundwork For Regional Expansion
...main unchanged. This will be the second IPO of an Adnoc subsidiary, following the 2017 partial listing of retail subsidiary Adnoc Distribution (MEES, 1 December 2017). With Adnoc advancing ambitious expansion plans on both the upstream and downstream front, the energy giant has sought new, of...
Volume: 64Issue: 36Published at Fri, 10 Sep 2021 -
Eni Sees Egypt Receivables Again Raise Their Head
...s field with gas-in-place reserves of 30tcf (MEES, 4 September 2015). Zohr started up in December 2017. But even before then, the prospect of bumper times ahead led Eni to go easy on berating Cairo for monies due. Under a March 2015 deal struck with EGPC intended to eliminate receivables, Eni ag...
Volume: 64Issue: 32Published at Fri, 13 Aug 2021 -
Oman Unveils 2021 Upstream Bid Round
...ospect, which had been slated for 2020, appears to have been dropped amid the Covid-19 pandemic. The relinquishment “after an unsuccessful exploration programme” marks Mol’s departure from Oman after having relinquished Block 43B in 2014 (MEES, 31 March 2017). BLOCK 23: OFFSHORE APPETITE? Th...
Volume: 64Issue: 29Published at Fri, 23 Jul 2021 -
Shamaran Expands Kurdistan Presence With Transformative Sarsang Entry
...turned to the region in 2017 when it acquired the minority Sarsang stake as part of its takeover of Denmark’s Maersk Oil. Shamaran says that “the Acquisition is highly accretive and transformative to Shamaran as it grows from a single asset company to a multi-field producer and paves the way for fu...
Volume: 64Issue: 28Published at Fri, 16 Jul 2021 -
Mauritania’s Tortue Delayed To 2H 2023 Amid 15% Cost Hike
...llow majors TotalEnergies, Exxon and Shell snagged swathes of Mauritania acreage in 2017 and 2018, they to date have drilled just one well between them – TotalEnergies’ August 2019 ‘Richat’ dry well on block C-9. TotalEnergies has since relinquished both this block and two others leaving it with just tw...
Volume: 64Issue: 27Published at Fri, 09 Jul 2021 -
Energean Advances Israel Drilling Plans
...2017 (MEES, 15 December 2017), These blocks include the sites of the potential fourth and fifth wells of Energean’s 2022-23 program: wildcats targeting the 1.1tcf Hermes prospect on Block 31 and the 2.7tcf Hercules prospect on Block 23 (see map). These are potentially costed at $50mn each ve...
Volume: 64Issue: 26Published at Fri, 02 Jul 2021 -
QP, TotalEnergies Team Up Offshore Suriname
...out at the same level as ExxonMobil, Shell, ConocoPhillips, Total” (MEES, 8 December 2017). He subsequently added that “we want to be with the main players, we don’t see ourselves as a national oil company per se anymore, we look at ourselves as like any other IOC. We always say we want to be one of...
Volume: 64Issue: 25Published at Fri, 25 Jun 2021 -
Lukoil Taps Yamama At West Qurna-2
...iticized Baghdad’s “delayed decision making,” and the firm has been frustrated by the slow pace of progression towards developing its 2017 2.5bn barrel-plus Eridu discovery located in Block 10 (60% op, 40% Inpex: MEES, 3 March 2017). The find was dubbed Iraq’s “largest in decades” and Iraqi officials say th...
Volume: 64Issue: 22Published at Fri, 04 Jun 2021 -
Dana Gas Profits Jump As Oil Market Strengthens
...CEIVABLES ($MN, END OF PERIOD) SOURCE: DANA GAS, MEES. 2: DANA GAS NET OUTPUT: KRG VOLUMES ARE NOW CLEARLY AHEAD OF THOSE FROM EGYPT (BOE/D) SOURCE: DANA GAS, MEES. 3: DANA GAS CAPEX DROPPED TO ITS LOWEST LEVEL SINCE 2017 LAST YEAR ($MN)...
Volume: 64Issue: 19Published at Fri, 14 May 2021 -
Exxon Hikes 2020 Permian Forecast, Eyes Q4 Start-Up At Sabic JV Cracker
...orms. These knocked 800,000 b/d (18%) from Texas’ overall crude output and saw US production as a whole fall to the lowest level since 2017 (see chart 2). Despite the storms, Exxon’s Q1 figure was up 12% year-on-year. Exxon’s 2021 spending will be highly focused on “prioritized investments” where Ex...
Volume: 64Issue: 18Published at Fri, 07 May 2021 -
Israel's Leviathan Hits Q1 Output Record As Expansion Plans Move Up The Agenda
...the block area, containing, according to the best assessment, over 2bn barrels of oil and more prospects are under maturation process,” the firm adds. In 2017, Ratio took a 20% stake in Block 47 off Suriname from operator, UK-based firm Tullow, which retains a 50% stake in the acreage. Here, Tu...
Volume: 64Issue: 16Published at Fri, 23 Apr 2021 -
Eni In Libya: What Does The Future Hold?
...bya’s share of Eni’s total net output has fallen to less than 10% for the first time since 2011 and is down from 21% as recently as 2017 (see chart 2). Even with such a steep fall in Libya’s share, the firm is looking to further decrease its exposure to the oft-troubled North African country “to better ba...
Volume: 64Issue: 15Published at Fri, 16 Apr 2021 -
Qatar Petroleum Moves To Take Full Ownership Of LNG Facilities
...monstrated at the height of tensions with neighboring Saudi Arabia and UAE after they imposed an economic embargo on Qatar in June 2017 which lasted until the beginning of this year (MEES, 8 January). Deep commercial ties with major US and European IOCs undoubtedly bolstered Qatar’s position with western go...
Volume: 64Issue: 13Published at Fri, 02 Apr 2021 -
Long Delayed Barzan Gas Project Starts Up
...panese firms – Idemitsu, Cosmo, Mitsui, and Marubeni (see map, main story). The most recent cause for delays was down to problems with pipelines linking the offshore wells to the onshore processing facilities. QP CEO Saad al-Kaabi said in 2017 “It’s delayed because we have had issues with the pi...
Volume: 64Issue: 13Published at Fri, 02 Apr 2021