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Qatar Petroleum Eyes Big Results Overseas In 2019
...s overseas activity since late 2017, securing a swathe of assets. The latest move was announced on 16 December, with a 35% farm-in to Eni’s 2.1bn barrel “Area 1” offshore Mexico which contains three fields. The move was especially notable as the partners (Eni 65%, QP 35%) say that initial output fr...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Kuwait Oil: Change At the Top As 2020 Target Dropped
...nth. Mr Rashidi was only appointed in December 2017, but if he lasts into January then his tenure will have already exceeded that of his immediate two predecessors in the post (MEES, 15 December 2017). This revolving door at the oil ministry exemplifies the political disruption hampering Kuwait’s oil se...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
BP Goes Big On Egypt Gas Expansion
...gher price reflecting the share of development costs accrued between the two dates. BP is also Eni’s longstanding partner in a number of shallow water offshore fields that in 2017 contributed 1.82bn cfd or 37% of the country’s 4.97bn cfd output (MEES, 25 May). EGYPT KEY OFFSHORE GAS IN...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Mauritania: BP Eyes Second Hub With Tortue Set For Take-Off
...PANSION Total has rapidly expanded to rival BP as the leading major in Mauritania, in exploration if not development terms. Having only entered the country in 2017, it this week bagged two more large deepwater and ultra-deepwater blocks to take its total to five – all operated. The latest additions ar...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Moroccan Offshore: Going Nowhere Fast As Eni Hands Back Key Block
...th no guarantee of wells beyond this. Eni does retain the large Tarfaya Offshore Shallow block far to the south (MEES, 22 December 2017). But exploration here remains in its early stages. The only other major off Morocco is Chevron, which acquired three blocks at the start of 2013 (MEES, 1 Fe...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Iraq’s New Oil Minister Eyes 2019 Capacity Hike Despite Export Challenges
...o alternatives: new export routes or increased refining capacity. A long-time proponent the oft-delayed Basra-Aqaba pipeline, Mr Ghadhban told MEES in 2017 that the project would only take “a little over a year” but the project appears to have stalled in 2018 (MEES, 3 November 2017). Now as mi...
Volume: 61Issue: 49Published at Fri, 07 Dec 2018 -
Saudi Arabia Must Look Overseas To Realize Gas Export Dream
...xt 10 years in its bid to boost raw gas production to 23bn cfd by 2026 (MEES, 15 December 2017). CEO Amin Nasser told the Gulf Petrochemicals and Chemicals Association (GPCA) conference in Dubai this week that output currently stands at 14bn cfd. If accurate, this is a substantial increase on the 2017...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
Wintershall Joins Eni In Abu Dhabi Sour Gas
...g (MEES, 1 December 2017). No surprise given that it will require “pipelines, islands, wells, you name it. It is a very complex project” according to upstream chief Abdulmunim al-Kindy. Adnoc is confident that its experience in developing the ultra-sour onshore Shah gas field alongside US firm Ox...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
Libya Steps Up Drilling
...Zueitina Oil Co. Zueitina in turn groups NOC with OMV after the latter bought out Occidental (MEES, 10 February 2017). Current output is around 30,000 b/d. Occidental and OMV in 2007 had plans to boost production at Nafoora using improved oil recovery techniques. Years of war and political in...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
China Imports: Aramco Claims Ring Hollow As Russia, Iraq Notch Up Record Volumes
...ades [with] Aramco’s Arab Medium crude oil a preferred choice for the plant’s baseload,” Aramco said in an August 2017 press release which commemorated Cnooc taking delivery of its first ever cargo of Saudi crude. This made Cnooc “the last of China’s three large national oil companies to join Saudi Ar...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
More Pipeline Problems For Israel-Egypt Gas Deal
...lieves enough has changed to merit launching a bid round so soon after last year’s round received bids by just two companies (MEES, 15 December 2017). He believes that Noble’s gas sales deal with Dolphinus proves gas discovered offshore Israel does have export options. He says this deal, coupled wi...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Adnoc Eyes Unconventional Route To Gas Independence
...ing in shale – though, to be fair, he lists the Middle East as a key “strength” (MEES, 17 November 2017). Total’s President of Exploration & Production Arnaud Breuillac told MEES during Adipec that “the wells that we are going to frack within the coming weeks could be tied back in less than a year fr...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
Egypt Gas: More Discoveries Needed To Meet Ambitious Output Target
...t for the beginning of 2019” at its North El Arish block. This is a rare piece of good news for Dana in Egypt. Output has slipped from 39,600 boe/d (mainly gas) in the first nine months of 2017 to 34,500 boe/d in the first nine months of 2018, at the firm’s onshore Nile Delta acreage. “This de...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
Abu Dhabi Pledges Mammoth $132bn Investment With 5mn b/d Output Plan
...t it targets 6.5mn b/d by 2022 – while that may prove too optimistic, production will likely climb above Adnoc’s planned 5mn b/d (which accounts for the bulk of UAE output). Outside of Opec, Canadian output is also forecast to climb past 5mn b/d during the next decade (MEES, 24 November 2017). Ad...
Volume: 61Issue: 45Published at Fri, 09 Nov 2018 -
Israel: Pipeline Bottleneck Blunder Adds to Exports Headache
...port Israeli gas. EXPORT DREAMS Long hindered by commercial and political complications (MEES, 6 October 2017), Israel’s gas sector scored a “historic” victory in February when Noble and its Israeli partners signed a controversial deal with Egypt’s Dolphinus Holdings to export up to 70...
Volume: 61Issue: 45Published at Fri, 09 Nov 2018 -
Repsol, BP & Eni Eye Algeria/Libya Border Bonus
...ving the name of the block in Spanish. Repsol was awarded the block on the Libyan border in 2009 and drilled several successful wells between 2012 and 2015 (MEES, 24 April 2015). Erstwhile partners Enel of Italy and Engie of France pulled out in late 2017 – the result of a strategic decision by bo...
Volume: 61Issue: 45Published at Fri, 09 Nov 2018 -
Oxy Leads Renewed Omani Exploration Push
...19. The firm this week announced that it has secured two exploration blocks – 65 & 51 – in Oman’s 2017 bid round, and also picked up the newly created Block 72. All are contiguous with its existing assets. Oxy already operates 90,000 b/d Block 9, as well as the 120,000 b/d Block 53 in the co...
Volume: 61Issue: 45Published at Fri, 09 Nov 2018 -
Egypt Confident It ‘Has The Keys To The Future’ Of East Med Gas
...ock 10 (80%) alongside Qatar Petroleum (20%). There has even been progress in Lebanon, which successfully held an offshore licensing round in October 2017 in which it managed to snag Eni and French major Total (MEES, 20 October 2017). Drilling will commence next year. However, plans for a second ro...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
MEES Interview With Egypt’s Minister of Petroleum
...d of the previous fiscal year, 2017-18, which ended on 30 June, upstream investments from foreign firms and joint ventures reached about $10bn, and we expect the same over the current fiscal year (2018-19). The Ministry of Petroleum is currently implementing new projects that will double the in...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
KRG-Baghdad Deal Needed To Unlock Northern Potential
...peline to Ceyhan (see map). This would cure a massive headache for Iraqi oil officials who are sitting on at least 150,000 b/d of stuck-in crude at Kirkuk. Iraq increased its production capacity by 280,000 b/d overnight when it retook Bai Hassan and the Avana Dome from Kurdish forces in 2017 (MEES, 20...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018