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BP Readies Egypt Gas Boost
...BP is preparing to bring online two additional wells on its North Damietta license in the Egyptian Mediterranean. At both the 2017 Qattameya discovery in 108ms water depth (MEES, 30 August 2019), and the Atoll-4 well drilled late last year (MEES, 13 December 2019) “preparation for pr...
Volume: 62Issue: 37Published at Fri, 11 Sep 2020 -
Mena Renewables Projects Tap Chinese Funding
...the Gulf power sector. But Silk Road is not the only China-based investor (see table 2). In 2017 a consortium of Chinese state banks led by state credit guarantee agency Sinosure fronted $1.6bn of the $2.1bn cost of Jordan’s 554MW Attarat oil-shale-fired power development (MEES, 28 April 2017...
Volume: 62Issue: 21Published at Fri, 22 May 2020 -
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 -
Saudi Arabia Adds Record Volumes To Crude Stocks
...anwhile, refining runs fell to 2.20mn b/d, their lowest level since January 2017. At 21.3% of Saudi Arabia’s reported production, the proportion refined is the lowest since 2016. Run rates had been above 25% since 2017 as the kingdom ramped up throughput at its expanded refinery fleet. Rates may well rise fu...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Kuwait Clean Fuels Progress Impacts Refining Output
...e highest since mid-2015, suggesting a new, or revamped, gasoline unit is operating (see chart). However, average total products output of 864,000 b/d during the first 10 months of 2019 is only 3% down from the 891,000 b/d for both 2017 and 2018, showing that CFP work to the end of October has no...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Qatar Budget Surplus To Shrink In 2020
...wards a $4.9bn surplus, although lower H2 oil prices could ultimately bring this down. Following on from 2018’s $4.1bn surplus, the 2020 budget sets the scene for a third consecutive surplus. However, even the combined surpluses over 2018-20 fall short of the deficit that Doha racked up in 2017 al...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Saudi Fund Pledges SME Support
...F initially announced it would create Jada in 2017, saying that it would create 2,600 jobs and contribute SR400mn ($107mn) to GDP by the end of 2020 – twelve months from now. Boosting the role of the private sector is one of the central tenets of Crown Prince Muhammad’s Vision 2030. But this has pr...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Iran Hands Farzad B Field To Petropars
....7tcf Farzad B field. Indian firm ONGC Videsh had long been interested in developing the field (MEES, 6 January 2017), but the return of US sanctions last year halted negotiations. Petropars is also the sole firm tasked with developing the 2bn cfd South Pars Phase 11 project following the withdrawal of...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Jordan Starts Up Risha Solar
...cal private-sector firm Yellow Door Energy, with the capacity slated to be split between seven sites. Nepco says the Risha plant will deliver around 115GWh of electricity a year. When the power purchase agreement was signed in late 2017, Acwa said it had offered electricity at a cost of US¢5....
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 -
Egypt: Key Eni Wildcat
...pears to have bumped drilling of a fourth development well at the Atoll field from 1Q 2020: the Maersk Discoverer is currently in place. ‘Phase-1’ Atoll output began in December 2017 with the latest well slated to hike production from 300 to 400mn cfd (MEES, 30 August). Following Atoll, the rig will mo...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Iraqi Kurdistan Poised For More Gains In 2020
...G can likely count on another 40,000 b/d in 2020, according to MEES estimates (see chart). This would push output back above 500,000 b/d for the first time since the KRG lost a swathe of territory around Kirkuk to the federal government in 2017. The additional volumes would appear to be critical to...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Kuwait Nears Boost To Refinery Throughputs, Eyes Al-Zour Petchems
...s two operating refineries. But delays to the clean fuels upgrade project mean that the expansion work is unlikely to be completed until the second half of 2020. KNPC shut down its aging 200,000 b/d capacity Shuaiba refinery at the end of March 2017, leaving Kuwait with just 736,000 b/d ca...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Qatar Set For 2019 Power, Desalination Records
...NCE MARCH... 2. WITH JAN-OCT UP 22%, 2019 IS ON TRACK TO SMASH 2017'S PREVIOUS ANNUAL RECORD (TWh) 3. QATAR DESALINATION (MN M³) HAS LIKEWISE SEEN A SERIES OF RECORDS... F =FORECAST. SOURCE: QATAR PLANNING & STATISTICS AUTHORITY, ME...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Saudi Budgets For Bigger Deficit, Banks On 2020 Gdp Boost
...nsiderably higher than 2017 levels. Riyadh expects spending this year to come in some $15bn under budget and puts this down to a combination of efficiency gains and greater involvement of the private sector “reducing the need to finance these projects from the budget.” GROWTH SET TO SURGE? Sa...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Saudi Eyes Tankers For LNG Trading Boost
...s in talks with Qatar over importing from the emirate (MEES, 8 December 2017). ...
Volume: 62Issue: 13Published 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