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IRAQ AWARDS MANSURIYA GAS FIELD TO SINOPEC Iraq Awards Mansuriya Gas Field To Sinopec. In another gain for Chinese firms in Iraq, the long-delayed project to develop the 4.5tcf Mansuriya gas field just north of Baghdad is going to Sinopec. The Chinese state firm will take up operatorship with 49%, while 51% will be retained by the Ministry of Oil’s Midland Oil Company. IRAQ ADVANCES GAS PROCESSING, PETCHEMS Iraq’s Minister of Oil Ihsan Ismaael this week announced a $3bn five-year plan for Basrah Gas Company (BGC: South Gas Co. 51%, Shell 44%, Mitsubishi 5%). The key project for BGC is its work to increase gas processing capacity from 1bn cfd to 1.4bn cfd though the Basrah NGL (BNGL) development. BNGL comprises two 200mn cfd trains at Ratawi, and is planned for 2025 completion (MEES, 15 February ISRAEL/GAZA ATTACKS: OIL & GAS FACILITIES UNDER THREAT The Tamar Platform, 10km offshore Israel, and oil storage facilities on the coast have been both targeted this week as violence escalatesin the region.
EGYPT GAS OUTPUT TOPS 7BN CFD AS OIL PLUMMETS TO NEW LOW... Egypt gas output rose to a record 7.048bn cfd for February, surpassing December 2020’s previous record but oil output continues to fall. Egypt gas output topped 7bn cfd for the first time in February. At 7.048bn cfd, output was up 5% on January and 3% IRAQ & TOTAL REACH INITIAL DEAL ON $7BN OF PROJECTS Iraq & Total Reach Initial Deal On $7bn Of Projects. 2 Apr 2021 Issue: 64 / 13 By: Yesar Al-Maleki. Iraq is confident it can seal a deal for French major Total to invest in key projects covering gas development, renewables and a massive water injection to enable crude oil outputgains.
CLOCK RUNS DOWN ON KEY ALGERIA-MOROCCO-SPAIN PIPELINE CO... A contract between Morocco and Algeria regulating gas flows to Spain runs out later this year. An extension has yet to be agreed. And Algeria just commissioned a new pipeline that will allow it to partially bypass Morocco. MEES takes a look at the stakes. NEW KRG OIL MINISTER The parliament of Iraq’s Kurdistan Regional Government (KRG) this week confirmed Kamal Atroshi as the semi-autonomous region’s new minister of natural resources, finally filling the position following an 18-month void. Mr Atroshi, whose confirmation was spearheaded by the ruling KDP, replaces the long serving Ashti Hawrami who was the EXXONMOBIL SET TO EXIT FEDERAL IRAQ ExxonMobil’s plans to sell its stake at Iraq’s 470,000 b/d West Qurna-1 (WQ-1) are now official. The countdown is on and Exxon looks set to become the latest IOC to quit federal Iraq by the end of June. Exxon operates WQ-1 with 32.7%, partnered by CNPC with 32.7%, Itochu 19.6%, Pertamina 10%, and Iraq state Oil Exploration Co. 5%. BP WRITE OFFS: $2.3BN FOR MAURITANIA/SENEGAL, $950MN FOR...AUTHOR:JAMES COCKAYNE
BP Write Offs: $2.3bn For Mauritania/Senegal, $950mn For Egypt. BP’s recently-released 2020 report reveals that the major last year wrote off $2.26bn on its gas assets off Mauritania and Senegal as well as $952mn for Egypt. The Egypt figure appears to relate to the major’s share of the $12bn West Nile Delta project where output since 2017 IRAQ: IS CHINA’S UEG FINALLY READY TO REALIZE BLOCK 9’S... Iraq: Is China’s UEG Finally Ready To Realize Block 9’s Potential? With its Kuwait Energy takeover complete, China’s United Energy Group is pushing full-steam ahead at Faihaa oil field – one of Iraq’s key ‘new’ assets. Output is set to quadruple in the next three years and hit 260,000 b/d by 2026. The Faihaa field has longbeen
IRAQ AWARDS MANSURIYA GAS FIELD TO SINOPEC Iraq Awards Mansuriya Gas Field To Sinopec. In another gain for Chinese firms in Iraq, the long-delayed project to develop the 4.5tcf Mansuriya gas field just north of Baghdad is going to Sinopec. The Chinese state firm will take up operatorship with 49%, while 51% will be retained by the Ministry of Oil’s Midland Oil Company. IRAQ ADVANCES GAS PROCESSING, PETCHEMS Iraq’s Minister of Oil Ihsan Ismaael this week announced a $3bn five-year plan for Basrah Gas Company (BGC: South Gas Co. 51%, Shell 44%, Mitsubishi 5%). The key project for BGC is its work to increase gas processing capacity from 1bn cfd to 1.4bn cfd though the Basrah NGL (BNGL) development. BNGL comprises two 200mn cfd trains at Ratawi, and is planned for 2025 completion (MEES, 15 February ISRAEL/GAZA ATTACKS: OIL & GAS FACILITIES UNDER THREAT The Tamar Platform, 10km offshore Israel, and oil storage facilities on the coast have been both targeted this week as violence escalatesin the region.
EGYPT GAS OUTPUT TOPS 7BN CFD AS OIL PLUMMETS TO NEW LOW... Egypt gas output rose to a record 7.048bn cfd for February, surpassing December 2020’s previous record but oil output continues to fall. Egypt gas output topped 7bn cfd for the first time in February. At 7.048bn cfd, output was up 5% on January and 3% IRAQ & TOTAL REACH INITIAL DEAL ON $7BN OF PROJECTS Iraq & Total Reach Initial Deal On $7bn Of Projects. 2 Apr 2021 Issue: 64 / 13 By: Yesar Al-Maleki. Iraq is confident it can seal a deal for French major Total to invest in key projects covering gas development, renewables and a massive water injection to enable crude oil outputgains.
CLOCK RUNS DOWN ON KEY ALGERIA-MOROCCO-SPAIN PIPELINE CO... A contract between Morocco and Algeria regulating gas flows to Spain runs out later this year. An extension has yet to be agreed. And Algeria just commissioned a new pipeline that will allow it to partially bypass Morocco. MEES takes a look at the stakes. NEW KRG OIL MINISTER The parliament of Iraq’s Kurdistan Regional Government (KRG) this week confirmed Kamal Atroshi as the semi-autonomous region’s new minister of natural resources, finally filling the position following an 18-month void. Mr Atroshi, whose confirmation was spearheaded by the ruling KDP, replaces the long serving Ashti Hawrami who was the EXXONMOBIL SET TO EXIT FEDERAL IRAQ ExxonMobil’s plans to sell its stake at Iraq’s 470,000 b/d West Qurna-1 (WQ-1) are now official. The countdown is on and Exxon looks set to become the latest IOC to quit federal Iraq by the end of June. Exxon operates WQ-1 with 32.7%, partnered by CNPC with 32.7%, Itochu 19.6%, Pertamina 10%, and Iraq state Oil Exploration Co. 5%. BP WRITE OFFS: $2.3BN FOR MAURITANIA/SENEGAL, $950MN FOR...AUTHOR:JAMES COCKAYNE
BP Write Offs: $2.3bn For Mauritania/Senegal, $950mn For Egypt. BP’s recently-released 2020 report reveals that the major last year wrote off $2.26bn on its gas assets off Mauritania and Senegal as well as $952mn for Egypt. The Egypt figure appears to relate to the major’s share of the $12bn West Nile Delta project where output since 2017LOGIN | MEES
Weekly Middle East Oil & Gas News and Analysis covering Oil & Gas, Transportation, Power & Water, Refining & Petrochemicals, OPEC, Corporate, Geopolitical Risk, Economics & Finance, and Industry Data. ALGERIA GAS EXPORTS: A GOOD START TO 2021 Algeria’s piped gas supplies to Italy and Spain sustained their late 2020 surge in the first quarter of 2021, coming in at a combined 9.53bcm – a three year high (see chart 1). This puts Algeria on course for a much better year in terms of overall gas exports after last year’s quarter-century low of 38.2bcm ( MEES, 19 February ).Countries:
IRAQ & TOTAL REACH INITIAL DEAL ON $7BN OF PROJECTS Iraq & Total Reach Initial Deal On $7bn Of Projects. 2 Apr 2021 Issue: 64 / 13 By: Yesar Al-Maleki. Iraq is confident it can seal a deal for French major Total to invest in key projects covering gas development, renewables and a massive water injection to enable crude oil outputgains.
OPEC STICKS TO PLAN, DISMISSES THE NEED TO EASE CUTS BEY... In a swift Opec+ meeting on 1 June, ministers decided simply to stick to the plan. The coalition’s production ceiling will rise by 441,000 b/d in July, while Saudi Arabia will add a further 400,000 b/d as it ends its additional voluntary cuts. ISRAEL POWER: GAS & RENEWABLES RISING Israel managed to reduce coal use last year as burgeoning gas output and increased renewables squeezed it out of the power mix. With big renewables plans and more gas due online, Israel is considering relaxing its export restrictions. IRAQ: IS CHINA’S UEG FINALLY READY TO REALIZE BLOCK 9’S... Iraq: Is China’s UEG Finally Ready To Realize Block 9’s Potential? With its Kuwait Energy takeover complete, China’s United Energy Group is pushing full-steam ahead at Faihaa oil field – one of Iraq’s key ‘new’ assets. Output is set to quadruple in the next three years and hit 260,000 b/d by 2026. The Faihaa field has longbeen
LIBYA’S OIL REVENUES SURGE Libya’s oil revenues at $6bn in the first four months are already higher than the 2020 total. PHAROS MAKES PROGRESS ON EGYPT FARM-OUT London-listed Pharos Energy says “good progress is being made” in its efforts to farm-out part of its 100% El Fayum concession in Egypt. In a 1 June operations update, the firm says “an announcement of the details will be made as soon as possible” after it initially announced its intentions to reduce its stake at the concession in January (MEES, 15 January). TOTAL AND POWER CHINA EXEMPTIONS On 1 June, Iraq’s cabinet permitted the Ministry of Electricity to exempt Total from competitive bidding and issue a “single bidder tender” for the 1GW solar power project signed earlier between the French giant and the country as part of a $7bn suite of projects (MEES, 2 April). The cabinet also exempted Power China from competitive bidding on unspecified EPC projects. The request for SAUDI ARABIA: “WE ARE GOING TO BE WINNERS” Saudi’s energy minister has struck a bullish stance, saying that the kingdom will emerge as a winner from the energy transition as it considers expanding crude production capacity beyond 13mn b/d, while increasing investment in clean energy sources. IRAQ AWARDS MANSURIYA GAS FIELD TO SINOPEC Iraq Awards Mansuriya Gas Field To Sinopec. In another gain for Chinese firms in Iraq, the long-delayed project to develop the 4.5tcf Mansuriya gas field just north of Baghdad is going to Sinopec. The Chinese state firm will take up operatorship with 49%, while 51% will be retained by the Ministry of Oil’s Midland Oil Company. IRAQ: IS CHINA’S UEG FINALLY READY TO REALIZE BLOCK 9’S... Iraq: Is China’s UEG Finally Ready To Realize Block 9’s Potential? With its Kuwait Energy takeover complete, China’s United Energy Group is pushing full-steam ahead at Faihaa oil field – one of Iraq’s key ‘new’ assets. Output is set to quadruple in the next three years and hit 260,000 b/d by 2026. The Faihaa field has longbeen
IRAQ ADVANCES GAS PROCESSING, PETCHEMS Iraq’s Minister of Oil Ihsan Ismaael this week announced a $3bn five-year plan for Basrah Gas Company (BGC: South Gas Co. 51%, Shell 44%, Mitsubishi 5%). The key project for BGC is its work to increase gas processing capacity from 1bn cfd to 1.4bn cfd though the Basrah NGL (BNGL) development. BNGL comprises two 200mn cfd trains at Ratawi, and is planned for 2025 completion (MEES, 15 February NEW KRG OIL MINISTER The parliament of Iraq’s Kurdistan Regional Government (KRG) this week confirmed Kamal Atroshi as the semi-autonomous region’s new minister of natural resources, finally filling the position following an 18-month void. Mr Atroshi, whose confirmation was spearheaded by the ruling KDP, replaces the long serving Ashti Hawrami who was the IRAQ & TOTAL REACH INITIAL DEAL ON $7BN OF PROJECTS Iraq & Total Reach Initial Deal On $7bn Of Projects. 2 Apr 2021 Issue: 64 / 13 By: Yesar Al-Maleki. Iraq is confident it can seal a deal for French major Total to invest in key projects covering gas development, renewables and a massive water injection to enable crude oil outputgains.
LATEST SAUDI DISCOVERIES BOOST UNCONVENTIONAL OUTLOOK The most promising new discovery is an unconventional play in the Tuwaiq Mountain formation; the same formation that is key to Saudi Aramco’s $110bn plans to develop the Jafurah Basin ( MEES, 28 February 2020 ). Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman announced the four new oil and gas discoveries on 27 December.The
QATAR LNG PRICES AT 16-YEAR LOW *Qatar, which continues to edge out Australia as the world’s top LNG exporter, has a sales portfolio heavily weighted to long term contracts with oil-linked pricing. This linkage mechanism typically comes with a 3-5 month delay, and so even after crude prices collapsed in March, Qatar continued to pocket relatively buoyant prices for its LNG: of its key customers, China and Japan continued LIBYA POWER PLANT PROGRESS Turkish contractor Enka says it is “about to start construction” on two gas turbine power plants in western Libya, which on completion will add about 1.3GW of capacity and help alleviate a severe power deficit. Enka says it plans to complete the 650MW Misrata and 690MW Tripoli West plants by 2022. But this will largely depend on Tripolitania's level of political stability and security. SHELL CANS EGYPT DRILLING ON WILDCAT FLOP, CAPEX CRUNCH Anglo-Dutch major Shell has cut short a major Egypt deepwater exploration drilling campaign. The decision was in part due to the key Montu-1 well coming up dry, but the timing was clearly precipitated by the major’s global capex cuts. The key Montu-1 wildcat on the West Delta Deep Marine (WDDM) acreage of the Burullus JV grouping Shell(50%
PETER STEVENSON
Peter Stevenson. Peter Stevenson is the East Mediterranean Editor at MEES. He is based in Nicosia and has been with the publication since March 2014, covering Egypt, Israel and Cyprus. Peter also contributes to MEES’ coverage of key East Asian LNG and crude markets and is responsible for the data and the upkeep of the relevant spreadsheets. IRAQ AWARDS MANSURIYA GAS FIELD TO SINOPEC Iraq Awards Mansuriya Gas Field To Sinopec. In another gain for Chinese firms in Iraq, the long-delayed project to develop the 4.5tcf Mansuriya gas field just north of Baghdad is going to Sinopec. The Chinese state firm will take up operatorship with 49%, while 51% will be retained by the Ministry of Oil’s Midland Oil Company. IRAQ: IS CHINA’S UEG FINALLY READY TO REALIZE BLOCK 9’S... Iraq: Is China’s UEG Finally Ready To Realize Block 9’s Potential? With its Kuwait Energy takeover complete, China’s United Energy Group is pushing full-steam ahead at Faihaa oil field – one of Iraq’s key ‘new’ assets. Output is set to quadruple in the next three years and hit 260,000 b/d by 2026. The Faihaa field has longbeen
IRAQ ADVANCES GAS PROCESSING, PETCHEMS Iraq’s Minister of Oil Ihsan Ismaael this week announced a $3bn five-year plan for Basrah Gas Company (BGC: South Gas Co. 51%, Shell 44%, Mitsubishi 5%). The key project for BGC is its work to increase gas processing capacity from 1bn cfd to 1.4bn cfd though the Basrah NGL (BNGL) development. BNGL comprises two 200mn cfd trains at Ratawi, and is planned for 2025 completion (MEES, 15 February NEW KRG OIL MINISTER The parliament of Iraq’s Kurdistan Regional Government (KRG) this week confirmed Kamal Atroshi as the semi-autonomous region’s new minister of natural resources, finally filling the position following an 18-month void. Mr Atroshi, whose confirmation was spearheaded by the ruling KDP, replaces the long serving Ashti Hawrami who was the IRAQ & TOTAL REACH INITIAL DEAL ON $7BN OF PROJECTS Iraq & Total Reach Initial Deal On $7bn Of Projects. 2 Apr 2021 Issue: 64 / 13 By: Yesar Al-Maleki. Iraq is confident it can seal a deal for French major Total to invest in key projects covering gas development, renewables and a massive water injection to enable crude oil outputgains.
LATEST SAUDI DISCOVERIES BOOST UNCONVENTIONAL OUTLOOK The most promising new discovery is an unconventional play in the Tuwaiq Mountain formation; the same formation that is key to Saudi Aramco’s $110bn plans to develop the Jafurah Basin ( MEES, 28 February 2020 ). Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman announced the four new oil and gas discoveries on 27 December.The
QATAR LNG PRICES AT 16-YEAR LOW *Qatar, which continues to edge out Australia as the world’s top LNG exporter, has a sales portfolio heavily weighted to long term contracts with oil-linked pricing. This linkage mechanism typically comes with a 3-5 month delay, and so even after crude prices collapsed in March, Qatar continued to pocket relatively buoyant prices for its LNG: of its key customers, China and Japan continued LIBYA POWER PLANT PROGRESS Turkish contractor Enka says it is “about to start construction” on two gas turbine power plants in western Libya, which on completion will add about 1.3GW of capacity and help alleviate a severe power deficit. Enka says it plans to complete the 650MW Misrata and 690MW Tripoli West plants by 2022. But this will largely depend on Tripolitania's level of political stability and security. SHELL CANS EGYPT DRILLING ON WILDCAT FLOP, CAPEX CRUNCH Anglo-Dutch major Shell has cut short a major Egypt deepwater exploration drilling campaign. The decision was in part due to the key Montu-1 well coming up dry, but the timing was clearly precipitated by the major’s global capex cuts. The key Montu-1 wildcat on the West Delta Deep Marine (WDDM) acreage of the Burullus JV grouping Shell(50%
PETER STEVENSON
Peter Stevenson. Peter Stevenson is the East Mediterranean Editor at MEES. He is based in Nicosia and has been with the publication since March 2014, covering Egypt, Israel and Cyprus. Peter also contributes to MEES’ coverage of key East Asian LNG and crude markets and is responsible for the data and the upkeep of the relevant spreadsheets.LOGIN | MEES
Weekly Middle East Oil & Gas News and Analysis covering Oil & Gas, Transportation, Power & Water, Refining & Petrochemicals, OPEC, Corporate, Geopolitical Risk, Economics & Finance, and Industry Data. IRAQ ADVANCES GAS PROCESSING, PETCHEMS Iraq’s Minister of Oil Ihsan Ismaael this week announced a $3bn five-year plan for Basrah Gas Company (BGC: South Gas Co. 51%, Shell 44%, Mitsubishi 5%). The key project for BGC is its work to increase gas processing capacity from 1bn cfd to 1.4bn cfd though the Basrah NGL (BNGL) development. BNGL comprises two 200mn cfd trains at Ratawi, and is planned for 2025 completion (MEES, 15 February OPEC STICKS TO PLAN, DISMISSES THE NEED TO EASE CUTS BEY... In a swift Opec+ meeting on 1 June, ministers decided simply to stick to the plan. The coalition’s production ceiling will rise by 441,000 b/d in July, while Saudi Arabia will add a further 400,000 b/d as it ends its additional voluntary cuts. WESTERN ZAGROS GETS GREEN LIGHT TO DEVELOP KURDISTAN’S Iraq’s Kurdistan Regional Government has approved the Kurdamir field’s development plan. A 15,000 b/d, 75mn cfd first phase is already under way, but significant pipeline development is required for its full potential to be realized. ISRAEL POWER: GAS & RENEWABLES RISING Israel managed to reduce coal use last year as burgeoning gas output and increased renewables squeezed it out of the power mix. With big renewables plans and more gas due online, Israel is considering relaxing its export restrictions. ISRAEL ELECTIONS: IS IT FINALLY BYE-BYE BIBI? Israelis could be spared a fifth election in two years after an unlikely union of pro-settlers, centrists and Arab parties formed a coalition to oust long-serving Prime Minister Benyamin Netanyahu. LIBYA’S OIL REVENUES SURGE Libya’s oil revenues at $6bn in the first four months are already higher than the 2020 total. PHAROS MAKES PROGRESS ON EGYPT FARM-OUT London-listed Pharos Energy says “good progress is being made” in its efforts to farm-out part of its 100% El Fayum concession in Egypt. In a 1 June operations update, the firm says “an announcement of the details will be made as soon as possible” after it initially announced its intentions to reduce its stake at the concession in January (MEES, 15 January).PETER STEVENSON
Peter Stevenson. Peter Stevenson is the East Mediterranean Editor at MEES. He is based in Nicosia and has been with the publication since March 2014, covering Egypt, Israel and Cyprus. Peter also contributes to MEES’ coverage of key East Asian LNG and crude markets and is responsible for the data and the upkeep of the relevant spreadsheets. IRAQ TARGETS 22GW PEAK SUPPLY THIS SUMMER Iraq’s Ministry of Electricity announced on 1 June that preparations for the summer peak demand season are “almost complete” with plans to bring generation capacity up to 22GW this summer. But reaching this will depend on the “stability of Iranian gas flows to power plants;” something which is ALGERIA GAS EXPORTS: A GOOD START TO 2021 Algeria’s piped gas supplies to Italy and Spain sustained their late 2020 surge in the first quarter of 2021, coming in at a combined 9.53bcm – a three year high (see chart 1). This puts Algeria on course for a much better year in terms of overall gas exports after last year’s quarter-century low of 38.2bcm ( MEES, 19 February ).Countries:
IRAQ: IS CHINA’S UEG FINALLY READY TO REALIZE BLOCK 9’S... Iraq: Is China’s UEG Finally Ready To Realize Block 9’s Potential? With its Kuwait Energy takeover complete, China’s United Energy Group is pushing full-steam ahead at Faihaa oil field – one of Iraq’s key ‘new’ assets. Output is set to quadruple in the next three years and hit 260,000 b/d by 2026. The Faihaa field has longbeen
IRAQ AWARDS MANSURIYA GAS FIELD TO SINOPEC Iraq Awards Mansuriya Gas Field To Sinopec. In another gain for Chinese firms in Iraq, the long-delayed project to develop the 4.5tcf Mansuriya gas field just north of Baghdad is going to Sinopec. The Chinese state firm will take up operatorship with 49%, while 51% will be retained by the Ministry of Oil’s Midland Oil Company. NEW KRG OIL MINISTER The parliament of Iraq’s Kurdistan Regional Government (KRG) this week confirmed Kamal Atroshi as the semi-autonomous region’s new minister of natural resources, finally filling the position following an 18-month void. Mr Atroshi, whose confirmation was spearheaded by the ruling KDP, replaces the long serving Ashti Hawrami who was the IRAQ ADVANCES GAS PROCESSING, PETCHEMS Iraq’s Minister of Oil Ihsan Ismaael this week announced a $3bn five-year plan for Basrah Gas Company (BGC: South Gas Co. 51%, Shell 44%, Mitsubishi 5%). The key project for BGC is its work to increase gas processing capacity from 1bn cfd to 1.4bn cfd though the Basrah NGL (BNGL) development. BNGL comprises two 200mn cfd trains at Ratawi, and is planned for 2025 completion (MEES, 15 February IRAQ & TOTAL REACH INITIAL DEAL ON $7BN OF PROJECTS Iraq & Total Reach Initial Deal On $7bn Of Projects. 2 Apr 2021 Issue: 64 / 13 By: Yesar Al-Maleki. Iraq is confident it can seal a deal for French major Total to invest in key projects covering gas development, renewables and a massive water injection to enable crude oil outputgains.
CYPRUS | MEES
Cyprus has made gas discoveries but, as with Israel, regional politics have stymied development plans. Turkey is the largest regional gas importer, but sales here would require a solution to the island’s 44-year division. Piping gas to Egypt may be more realistic, both for 2011’s Aphrodite discovery and for Eni’s promising early 2018 LIBYA POWER PLANT PROGRESS Turkish contractor Enka says it is “about to start construction” on two gas turbine power plants in western Libya, which on completion will add about 1.3GW of capacity and help alleviate a severe power deficit. Enka says it plans to complete the 650MW Misrata and 690MW Tripoli West plants by 2022. But this will largely depend on Tripolitania's level of political stability and security.PETER STEVENSON
Peter Stevenson. Peter Stevenson is the East Mediterranean Editor at MEES. He is based in Nicosia and has been with the publication since March 2014, covering Egypt, Israel and Cyprus. Peter also contributes to MEES’ coverage of key East Asian LNG and crude markets and is responsible for the data and the upkeep of the relevant spreadsheets. TEMSAH FIELD ON TRACK FOR FULL OUTPUT BY AUGUST AFTER 2004 Middle East Economic Survey. VOL. XLVIII. No 12. 21-March-2005. EGYPT. Temsah Field On Track For Full Output By August After 2004 Blow Out. Egypts Temsah gasfield, which suffered a major blow-out and subsequent fire in August 2004, is due to be back on-stream at full production rates around 12 months after the accident, MEES learns.Operator International Egyptian Oil Company (IEOC) is due ALGERIA GAS EXPORTS: A GOOD START TO 2021 Algeria’s piped gas supplies to Italy and Spain sustained their late 2020 surge in the first quarter of 2021, coming in at a combined 9.53bcm – a three year high (see chart 1). This puts Algeria on course for a much better year in terms of overall gas exports after last year’s quarter-century low of 38.2bcm ( MEES, 19 February ).Countries:
IRAQ: IS CHINA’S UEG FINALLY READY TO REALIZE BLOCK 9’S... Iraq: Is China’s UEG Finally Ready To Realize Block 9’s Potential? With its Kuwait Energy takeover complete, China’s United Energy Group is pushing full-steam ahead at Faihaa oil field – one of Iraq’s key ‘new’ assets. Output is set to quadruple in the next three years and hit 260,000 b/d by 2026. The Faihaa field has longbeen
IRAQ AWARDS MANSURIYA GAS FIELD TO SINOPEC Iraq Awards Mansuriya Gas Field To Sinopec. In another gain for Chinese firms in Iraq, the long-delayed project to develop the 4.5tcf Mansuriya gas field just north of Baghdad is going to Sinopec. The Chinese state firm will take up operatorship with 49%, while 51% will be retained by the Ministry of Oil’s Midland Oil Company. NEW KRG OIL MINISTER The parliament of Iraq’s Kurdistan Regional Government (KRG) this week confirmed Kamal Atroshi as the semi-autonomous region’s new minister of natural resources, finally filling the position following an 18-month void. Mr Atroshi, whose confirmation was spearheaded by the ruling KDP, replaces the long serving Ashti Hawrami who was the IRAQ ADVANCES GAS PROCESSING, PETCHEMS Iraq’s Minister of Oil Ihsan Ismaael this week announced a $3bn five-year plan for Basrah Gas Company (BGC: South Gas Co. 51%, Shell 44%, Mitsubishi 5%). The key project for BGC is its work to increase gas processing capacity from 1bn cfd to 1.4bn cfd though the Basrah NGL (BNGL) development. BNGL comprises two 200mn cfd trains at Ratawi, and is planned for 2025 completion (MEES, 15 February IRAQ & TOTAL REACH INITIAL DEAL ON $7BN OF PROJECTS Iraq & Total Reach Initial Deal On $7bn Of Projects. 2 Apr 2021 Issue: 64 / 13 By: Yesar Al-Maleki. Iraq is confident it can seal a deal for French major Total to invest in key projects covering gas development, renewables and a massive water injection to enable crude oil outputgains.
CYPRUS | MEES
Cyprus has made gas discoveries but, as with Israel, regional politics have stymied development plans. Turkey is the largest regional gas importer, but sales here would require a solution to the island’s 44-year division. Piping gas to Egypt may be more realistic, both for 2011’s Aphrodite discovery and for Eni’s promising early 2018 LIBYA POWER PLANT PROGRESS Turkish contractor Enka says it is “about to start construction” on two gas turbine power plants in western Libya, which on completion will add about 1.3GW of capacity and help alleviate a severe power deficit. Enka says it plans to complete the 650MW Misrata and 690MW Tripoli West plants by 2022. But this will largely depend on Tripolitania's level of political stability and security.PETER STEVENSON
Peter Stevenson. Peter Stevenson is the East Mediterranean Editor at MEES. He is based in Nicosia and has been with the publication since March 2014, covering Egypt, Israel and Cyprus. Peter also contributes to MEES’ coverage of key East Asian LNG and crude markets and is responsible for the data and the upkeep of the relevant spreadsheets. TEMSAH FIELD ON TRACK FOR FULL OUTPUT BY AUGUST AFTER 2004 Middle East Economic Survey. VOL. XLVIII. No 12. 21-March-2005. EGYPT. Temsah Field On Track For Full Output By August After 2004 Blow Out. Egypts Temsah gasfield, which suffered a major blow-out and subsequent fire in August 2004, is due to be back on-stream at full production rates around 12 months after the accident, MEES learns.Operator International Egyptian Oil Company (IEOC) is due ENI EYES LNG-FUELED ZOHR RECORD FOR 2021 Eni Eyes LNG-Fueled Zohr Record For 2021. Eni expects Zohr output to average 2.7bn cfd for 2021, up 27% from 2020, boosted by the restart of LNG exports from its Damietta terminal. But MEES number-crunching indicates that precipitous decline elsewhere means even this will not be enough to see the firm’s Egypt output regain 2019 levels. ISRAEL ELECTIONS: IS IT FINALLY BYE-BYE BIBI? Israelis could be spared a fifth election in two years after an unlikely union of pro-settlers, centrists and Arab parties formed a coalition to oust long-serving Prime Minister Benyamin Netanyahu. CRUDE OFFICIAL SELLING PRICES ($/B) Weekly Middle East Oil & Gas News and Analysis covering Oil & Gas, Transportation, Power & Water, Refining & Petrochemicals, OPEC,Corporate,
EGYPT STUDIES INTERCONNECTION WITH IRAQ VIA JORDAN Egypt’s Electricity and Renewable Energy Minister Mohammed Shaker said that his ministry is “studying” the prospects of interconnecting with Iraq by raising the capacity of its existing 13km subsea 400kV line with Jordan. Currently, the transmission line can carry 550MW of electricity. Last year, Baghdad and Amman signed an interconnection agreement where Iraq is to receive up to 1TWh JAPAN APRIL CRUDE IMPORTS BOOSTED BY REBOUNDING UAE VOLUM... *Japan’s imports of crude oil and condensate have risen to the highest level since April 2020. Latest government statistics show that Japan imported 2.653mn b/d of crude and condensates this April, up by 309,000 b/d (13%) on March. GLOBAL UPSTREAM INVESTMENT SWITCHING TO NOCS For years now the likes of the UAE and Saudi Arabia have been warning that upstream investment is insufficient and risks paving the way for a future supply crunch. In its World Energy Investment 2021 report, the IEA lays bare how investment patterns are changing. In 2015, the Majors invested around $140bn in the upstream, with Middle East NOCs investing less than $40bn. For 2021, FIRE AT TEHRAN’S TONDGUYAN REFINERY RAISES MULTIPLE QUES... Not a week passes by when Iran does not experience another large incident. The latest is a massive fire at the 250,000 b/d Shahid Tondguyan refinery south of Tehran on the evening of 2 June. Pictures and videos circulating on social and local media showed large pillars of smoke rising above the Iranian capital. The cause of the fire was linked to a “leak at a liquid gas pipeline” that QATAR GETS POST-EMBARGO BOOST AS EXPORTS TO SAUDI RESUME... Qatar’s post-embargo trade with its neighbors is on the up. Exports to Saudi Arabia have resumed, while sales to the UAE have increasedmarkedly.
LUKOIL TAPS YAMAMA AT WEST QURNA-2 The start of pilot production from West Qurna-2’s lighter Yamama formation is a key development for Iraq. PHAROS MAKES PROGRESS ON EGYPT FARM-OUT London-listed Pharos Energy says “good progress is being made” in its efforts to farm-out part of its 100% El Fayum concession in Egypt. In a 1 June operations update, the firm says “an announcement of the details will be made as soon as possible” after it initially announced its intentions to reduce its stake at the concession in January (MEES, 15 January).*
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Latest Issue Pricing Login DATA DRIVEN MIDDLE EAST OIL & GAS ANALYSIS WEEKLY FORWARD LOOKING ENERGY NEWSOil & Gas
24 Apr, 2020
Top Story
SHELL, ENI HALT EGYPT DRILLING AMID LNG BAN Both Shell and Eni have cut short Egypt offshore gas drilling campaigns after Cairo banned LNG exports. Both firms are also slashing capex. Shut-ins have seen both Eni’s and overall Egypt gas output slump to the lowest since mid-2018. EGYPT: KEY OFFSHORE ACREAGECorporate
24 Apr, 2020
Featured
SERVICES FIRMS HOPE FOR MENA RESILIENCE With their core US market in freefall, the global oilfield services giants eye the Middle East as a “pocket of resilience.” Is thisrealistic?
SCHLUMBERGER REVENUE BY REGION ($BN) JavaScript chart by amCharts 3.21.151Q162Q163Q164Q161Q172Q173Q174Q171Q182Q183Q184Q181Q192Q193Q194Q191Q2001234567890.00.51.01.52.02.53.03.54.04.5LATEST STORIES
OIL & GAS
BAGHDAD-KRG EYE GAS DEAL24 Apr, 2020
GEOPOLITICAL RISK
LIBYA’S FINANCIAL VULNERABILITIES LAID BARE24 Apr, 2020
OPEC & GLOBAL MARKETS MARKETS’ HORROR WEEK AHEAD OF OPEC+ CUTS24 Apr, 2020
ECONOMICS & FINANCE
SAUDI ARABIA SET FOR BORROWING SPREE24 Apr, 2020
CORPORATE
ISRAEL ORDERS NOBLE & DELEK TO PLAY FAIR24 Apr, 2020
REFINING & PETROCHEMICALS EGYPT SETS NEW REFINING, EXPORT RECORDS24 Apr, 2020
THIS WEEK'S FRONT PAGE Check Our Latest IssueNEWS IN BRIEF
QATAR: MASSIVE LNG TANKER ORDER24 Apr, 2020
SAUDI OIL BURN UP IN FEBRUARY24 Apr, 2020
PNZ CARGO UNLOADS OFF MALAYSIA24 Apr, 2020
ALGERIA SIGNS EXXON MOU24 Apr, 2020
KUFPEC QUITS TUNISIA24 Apr, 2020
QP COMPLETES SEEF TAKEOVER24 Apr, 2020
SAUDI SHORTLISTS NUKE VENDORS24 Apr, 2020
ISRAEL: NETANYAHU HANGS ON24 Apr, 2020
Read more
MEES MONTHLY OPEC PRODUCTION ESTIMATES (MN B/D)MAR20
VSFEB20
VSMAR19
FEB20
JAN20
DEC-19
2019
VS2018
2018
2017
Algeria -
-
-
-
-
1.02
1.03
-0.01
1.04
1.06
Angola -
-
-
-
-
1.34
1.40
-0.15
1.55
1.65
Congo -
-
-
-
-
0.31
0.31
0.00
0.32
0.27
Equatorial Guinea --
-
-
-
0.10
0.11
-0.02
0.13
0.15
Gabon -
-
-
-
-
0.20
0.19
+0.00
0.19
0.20
Iran -
-
-
-
-
2.12
2.43
-1.15
3.58
3.79
Iraq -
-
-
-
-
4.57
4.63
+0.11
4.53
4.43
Kuwait -
-
-
-
-
2.66
2.67
-0.07
2.75
2.71
Libya -
-
-
-
-
1.15
1.11
+0.17
0.94
0.82
Nigeria -
-
-
-
-
1.82
1.84
+0.02
1.82
1.72
Saudi Arabia -
-
-
-
-
9.63
9.75
-0.56
10.31
9.97
UAE -
-
-
-
-
3.02
3.05
+0.08
2.97
2.90
Venezuela -
-
-
-
-
0.75
0.82
-0.58
1.40
1.95
TOTAL
-
-
-
-
-
28.69
29.33
-2.18
31.51
31.61
* MEES Monthly OPEC Production Data Available To Subscribers OnlyFEATURED MAPS
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