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Oman Eyes $110Bn Upstream Investment
...r declaration of commerciality and a final investment decision by the second quarter of 2013 and start-up by end-2016/early 2017. PDO – which has invested about $300mn in its five-year gas exploration program, including drilling one of the deepest wells in the Middle East (7,145ms) – plans to...
Volume: 55Issue: 36Published at Mon, 03 Sep 2012 -
Tunisian CO2 Study May Scupper Plans For Zarat Development
...upper, or at least seriously delay, Canadian independent Sonde Resources’ plans to produce 37,000 b/d of oil and 80mn cfd of gas from the Zarat field, Tunisia’s largest undeveloped field, from 2017. James Cockayne reports. Sonde operates the Joint Oil Block which straddles Tunisian/Libyan wa...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Cyprus Seeks Short Term Gas Deal With Israel
...r delivery of Block 12 gas to shore. Currently, it is forecast that gas from the Aphrodite field would arrive in Cyprus in 2017, provided an agreement is reached soon and construction of a pipeline gets underway. In a recent issue of the Cyprus government gazette, Noble issued two te...
Volume: 55Issue: 35Published at Mon, 27 Aug 2012 -
Libyan Upstream Activity Picks Up
...d engineering work (awarded in late 2010) was incomplete when hostilities broke out last year and a final investment decision has yet to be taken. Waha groups US firms ConocoPhillips (16.33%), Marathon (16.33%) and Hess (8.16%) with NOC (59.16%). Table 1: Libyan Production Increments to 2017...
Volume: 55Issue: 34Published at Mon, 20 Aug 2012 -
Algerian Gas Set For Boost From 3.7 BCM/Y Petroceltic Development
...n Tsila discovery approach their climax. A final investment decision is expected later this year, with first production from the Isarene permit in Algeria’s prolific Illizi Basin slated for 2017, James Cockayne writes. Negotiations between Petroceltic, its Italian partner Enel, and Al...
Volume: 55Issue: 32Published at Mon, 06 Aug 2012 -
BP To Sign Gas Deal With Oman By September
...gotiating price, how much gas the company can produce and over what period of time. The government has recently raised the cap it puts on what it pays producers to $3/mn BTU. Nonetheless BP is hoping to get $4-6/mn BTU for the 1bn cfd of gas it expects to produce by 2017 and a share of the 20...
Volume: 55Issue: 31Published at Mon, 30 Jul 2012 -
Confusion Spreads Over Abu Dhabi Oil Fields Concession
...nce the process started and Abu Dhabi, which suffers from a severe gas shortage each summer, does not expect to get full gas output from Shah until 2015. Onshore oil projects also face delays. ADCO’s official target date has slipped from 1.8mn b/d production capacity in 2016 to 2017, partly du...
Volume: 55Issue: 30Published at Mon, 23 Jul 2012 -
Kuwait: Oil Minister Reappointed, Refinery Plans Advance, Petrofac In Gas Talks
...ES. Earlier in the year KNPC was citing 2017 as the target for completion, although acting oil minister Hani Husain is understood to have recently said it will be ready by 2018-19. Kuwait aims to build a new 615,000 b/d refinery at al-Zour. In parallel it will develop the Clean Fuels Pr...
Volume: 55Issue: 30Published at Mon, 23 Jul 2012 -
Investors Flock To $4bn Qatar Sukuk
...23 2 174.1 /155 3.24 3.241 November 2011 Bond Issue Jan 2017 2 225/184 3.18 3.125 Jan 20...
Volume: 55Issue: 29Published at Mon, 16 Jul 2012 -
New US Sanctions Hit Iran, Upstream Sector Already Stressed
...owing of the Pakistani problems – are not pushing the project and it is unlikely to be completed by 2017. Russia is in talks to provide technical and financial help to the $1.7bn project. The US is pressuring Pakistan to use the proposed Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline instead. ...
Volume: 55Issue: 29Published at Mon, 16 Jul 2012 -
Gulf Keystone Expects Oil-In-Place Boost At Iraq’s Shaikan Field
...e ultimate development target is 400,000-500,000 b/d. One source tells MEES this is scheduled for 2017, which looks ambitious, but another source says 200,000 b/d is more likely by this date. However, all these targets are moot given that KRG production is currently held-in due to a dispute with Ba...
Volume: 55Issue: 28Published at Mon, 09 Jul 2012 -
Iraq Prepares To Launch GTL Project
...d-2013 for a 2017-18 start-up. Canadian upstream firm Talisman Energy and Sasol expect to complete a feasibility study into a 48,000 b/d or 96,000 b/d GTL plant in Alberta, Western Canada this summer. The FEED will finish 24 months later and then a final investment decision (FID) will be taken. Sa...
Volume: 55Issue: 27Published at Mon, 02 Jul 2012 -
Iraqi Infrastructure Crunch Begins To Bite
...cision is still some months off, the government appears to be leaning towards the 9.3mn b/d target to be achieved in phases by 2020, Mr Ghadhban said. The oil ministry, which has conducted its own study, looks to be still committed to reaching plateau by contractual 2017, albeit at a reduced 9.5mn b/d le...
Volume: 55Issue: 26Published at Mon, 25 Jun 2012 -
Oman Anticipates More LNG Exports On Back Of BP Upstream Output
...oject starts ramping up end-2016/early 2017, Nick Wilson writes. In its 2011 annual report published in May, OLNG says although its exports by volume declined 2%, its revenue rose 26.47% compared to the year before from $3.13bn to $3.96bn due to a 31% rise in prices. OLNG’s sales are in Asia-Pa...
Volume: 55Issue: 26Published at Mon, 25 Jun 2012 -
Kuwait’s Oil Minister Stands Firm Against MPs, Appoints Senior Management
...y that Kuwait’s foreign currency reserves will run out by 2017 if it doesn’t fix its finances. Minister of Electricity and Water 'Abd al-'Aziz al-Ibrahim has warned that the delay of al-Zour power plant will cause power generation shortages. Parliament had earlier demanded a halt to the pr...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012 -
South Stream Construction To Begin By December
...s needs from Russia and wants to extend the existing contract from 2017 to 2035, while more than tripling the imported volumes to 1.7 bcm/y. Despite the establishment of Slovenia’s South Stream branch, the final onshore routing of the project has yet to be announced. MEES understands that th...
Volume: 55Issue: 24Published at Mon, 11 Jun 2012 -
Kuwait’s Oil Minister Under Political Pressure In Dow Ruling Fall-Out
...nd (IMF) said in a report in May that Kuwait will exhaust its foreign currency reserves by 2017 if it keeps on spending at the current rate. Mr Husain told state-owned news agency KUNA of the Dow deal investigation panel: “The panel will review the feasibility study of the project and the so...
Volume: 55Issue: 23Published at Mon, 04 Jun 2012 -
Japan Pushes CCS To Secure Stakes In Abu Dhabi Offshore Concessions
...ploying enhanced oil recovery (EOR) technology onshore and offshore, including CO2, Mr Muhairi said. This could take 20-40 years to achieve he added. ADNOC’s stated goal is to boost its yearly average production capacity to 3.5mn b/d by 2017 and plateau it until 2030. MEES calculates it will be able to ac...
Volume: 55Issue: 23Published at Mon, 04 Jun 2012 -
Turkmenistan Signs 30 BCM/Y Trans-Afghan Deals
...rm gas needs, which would grow from 166.2mn cmd today to 473mn cmd in 2017-18, when TAPI is intended to be commissioned. Indian energy analysts have estimated that the cost of Turkmen gas may be $4-5/mn BTU, which would be less expensive than Gulf LNG imports. A former senior Indian energy ex...
Volume: 55Issue: 22Published at Mon, 28 May 2012 -
Tunisia: Oil Production Slump Exacerbates Budget Shortfall
...g (for Tunisia) new fields are on the horizon, but none of these appear large enough to compensate for decline. In addition to Zarat, which could produce “tens of thousands of boe/d by 2017-18,” PA Resources has a further significant discovery, Elyssa on the southern limit of the Zarat permit. Fi...
Volume: 55Issue: 21Published at Mon, 21 May 2012