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Kuwait Scraps 2020 Target But Minister Reappointment Offers Rare Continuity
...thin the next five years,” so 3.10mn b/d is at least a more concrete target (MEES, 30 August). Underlining the scale of the reduced ambition, this new 2020 target is less than KOC’s capacity in 2017-18 (to end-March), of 3.15mn b/d. Former KOC CEO Jamal Jaafar put capacity even higher at 3....
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Egypt Oil Output Continues Slump
...While Egypt is being forced to limit its gas output (see above), it is a completely different story for oil , with production falling to 615,000 b/d for October, the sixth consecutive monthly decline to the lowest level since March 2017. Egypt’s official target of reaching 690,000 b/d by June ne...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Libya’s NOC Clears House With Key End-Year Deals
...tput falls meant its pre-2010 contract remained valid. NOC didn’t. In 2016 it went as far as stopping Wintershall crude exports from Zueitina port (MEES, 3 November). In 2017 NOC chief Mustafa Sanalla said Wintershall was “free to leave” Libya if it didn’t want to sign new terms. And much more re...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Russia’s Tatneft Back In Libya For Seismic
...ab Geophysical Exploration Services Company (AGESCO) to complete 200 km² of seismic in Area 82’s Block 4 which was suspended in 2014. Tatneft was awarded eight exploration blocks (Areas 69, 82 & 98) in Libya in 2005 and 2007 (MEES, 28 July 2017, see map, p2). It struck oil several times, but was fo...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Leviathan: The Giant Stirs
...ypt. For years Noble struggled to get development off the ground. Only in February 2017, more than six years after discovery, did the operator finally go ahead with long-stalled development. The Texas-based firm not surprisingly presented this as a victory. But, in reality, go-ahead only came as a re...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Oman Gets Opec+ Condensate Boost
...opping 157,000 b/d is condensate – 16.2% (see chart). Oman was only producing 80,000 b/d of the higher-value condensate in late 2017 before the startup of BP’s 1bn cfd Khazzan gas project added some 30,000 b/d (MEES, 27 September 2017). The startup of PDO’s $3.7bn Rabab Harweel Integrated Project (RH...
Volume: 62Issue: 49Published at Fri, 06 Dec 2019 -
Oman Oil Eyes 2020 IPO
...cidental’s 120,000 b/d Muzkhaizna heavy oil field (20% OOC), and several other projects. “Going forward, you will see more of this trend in Oman – where we take a minority share in upstream projects and partner with foreign operators,” OOC chief Isam Saud al-Zadjali said in 2017, highlighting OOC’s role fu...
Volume: 62Issue: 49Published at Fri, 06 Dec 2019 -
QP Announces Aggressive Upscaling Of LNG Expansion Project
...ld MEES in 2017 that “the winner in this business is the one which can remain the lowest cost producer…we are the lowest cost producer” (MEES, 8 December 2017). When it comes to the expansion, Mr Kaabi is adamant that “you have to make sure that you are going to be efficient in your construction, an...
Volume: 62Issue: 48Published at Fri, 29 Nov 2019 -
Kuwait Oil Exports: China Dominant, While Vietnam Rises
...rea’s imports of Kuwaiti oil are already on track to fall to a four-year low of 411,000 b/d in 2019, while No.4 buyer India is heading for a three-year low of 209,000 b/d. Taiwan volumes are also in decline and are neck-and-neck with the 2017-level (see chart). Kuwaiti crude and condensate exports ha...
Volume: 62Issue: 48Published at Thu, 28 Nov 2019 -
Algerian Gas Exports Set For Quarter-Century Low
...derlying declines at aging fields. Even though three projects in the southwest with a combined 9.2bcm capacity have come online since 2017, Algeria has recorded output declines in each of the following years. And while the long-delayed 4.5bcm Touat project led by London-based Neptune Energy finally started up...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Bab Expansion Plans Grow
...Adnoc is investing $489mn to further expand its key onshore Bab field to 485,000 b/d. Work was already underway through a 2017 contract to expand the field from 420,000 b/d to 450,000 b/d by next year (MEES, 17 November 2017). The EPC contract for the latest expansion was awarded to Gr...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
Oman Offshore Ambitions Creep Forward
...illing next year will be in Oman, the first deep offshore drilling in Oman, so it’s quite important,” he says. “That is most likely gas or gas/condensate, and we are drilling only seven months after the acquisition [closed], which is a big achievement.” Eni acquired Block 52 operatorship in 2017 (ME...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
Iran Digs Deep With Massive Heavy Oil Find
...elds including Darquain, Mansuri, Sepehr, Ab Teymour, Jufeyr and Susangerd (see map). Several of these fields in the ‘West Karun’ region bordering Iraq were among those that Iran sought to offer up to foreign investors in 2017 (MEES, 23 June 2017). Indeed the ‘new’ field appears to at least in pa...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
Iraq: Lukoil Not Happy
...lt in recent weeks. The West Qurna-2 expansion is not the only Lukoil project under threat. Lukoil also operates Block 10 (60%, 40% Japan’s Inpex) where it has been looking to develop its 2017 2.5bn barrel-plus Eridu discovery (MEES, 3 March 2017). The find was dubbed Iraq’s “largest in decades”: Ir...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
Iraqi Kurdistan Closes In On 500,000 B/D Oil Production
...late 2017 (MEES, 20 October 2017), Iraqi Kurdistan’s tempestuous oil sector is poised to once more produce 500,000 b/d as foreign firms continue to invest in the region (see chart). By the end of the year, MEES expects output to exceed 490,000 b/d, with 500,000 b/d breached in early 2020. Ov...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
Egypt Oil Output Target Slips Further From Reach
...Egypt’s oil output fell to a two and a half year low of 619,000 b/d for September with output from the country’s oil heartland Western Desert also slipping to its lowest level since April 2017. Egypt’s target of reaching oil output of 690,000 b/d by June next year appears to be slipping fu...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
Eni Hit By Zohr Output Cap, Repeats Call For LNG Restart
...rprising if the Rome-based firm had not been involved. Meanwhile, EGAS’ freshly released 2018-19 report flags up an “MoU with Toyota to study the way to implement LNG bunkering project in Egypt.” France’s Total also has Egypt LNG ambitions having acquired 5% of ELNG (10% of Train 1) in its 2017 pu...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Mauritania Sees ‘2019’s Largest’ Deepwater Find With 13tcf Orca
...smos says. True, though 2017 wells targeting oil, and ‘outboard’ (further offshore) prospects flopped (MEES, 15 December 2017). US independent Kosmos (28%) partners BP (62%) on each of the major’s four Mauritanian deepwater blocks. Indeed, it was Kosmos that made the key initial discoveries, in...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Israel Offshore Awards: Small Firms, Smaller Commitments
...e ministry to attract bigger names to its offshore after 2017’s previous bidding flop (MEES, 15 December 2017). Then, just six of the 24 much smaller blocks on offer were awarded, with Energean taking five. The Greek firm has yet to undertake any exploration on the acreage. Energean’s key focus is...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
KRG: DNO Tawke Output Down Again
...gion’s oil sector. And whilst the 2017 start-up of the 52,000 b/d Peskhabir field has provided a boost, in recent months it has failed to offset losses at the eponymous Tawke field which saw output dip to 67,800 b/d in Q3 – down from 83,400 b/d in 3Q 2018 and 107,000 b/d in 3Q 2017. DNO expects to ex...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019