Author: Rigs & Barge World
The latest Gas Statement of Opportunities (GSOO) confirms Australia’s east coast gas market remains well supplied in the near term but makes clear that ongoing investment in new gas supply is critical to avoid shortfalls from 2030. Australian Energy Producers Chief Executive Samantha McCulloch said the improved outlook reinforces the importance of stable and competitive policy and tax settings, warning that imposing higher taxes on the gas industry would undermine investment and future supply. “Imposing punitive and retrospective new taxes on the gas industry would stop investment in new gas supply at exactly the time it is needed most,” Ms McCulloch said. “That means less gas, tighter markets,…
Iraq has started exporting crude oil from its Kirkuk oil field to Turkey’s port of Ceyhan after US intervention ended a two-week stalemate between federal authorities and the Kurdistan Regional Government (KRG). Exports began in the early hours of 18 March, at an initial rate of 100,000-140,000 b/d that then stabilized at 170,000 b/d. The development means that Iraq, the second largest Middle East crude oil exporter under normal circumstances, now has a functioning Hormuz-bypass pipeline. While a valuable source of revenues, flows are a fraction of the 3.33mn b/d of crude oil that Iraq exported from Basra in February.…
Israel’s 197,000 b/d Bazan refinery at Haifa in the country’s north was hit by falling debris from an intercepted Iranian missile on 19 March. While it is unclear whether the refinery was itself targeted, the attack coincided with Iran launching a series of destructive attacks on Gulf energy assets in response to Israel’s attack on South Pars gas processing plants (MEES, 20 March). The falling shrapnel came after a volley of Iranian missiles were fired into northern Israel which damaged some power lines. “The barrage to the north did not cause any significant damage to infrastructure sites in the state…
Nearly three weeks into the Middle East conflict Iran’s ability to land heavy blows on key assets in neighboring states is undiminished, as demonstrated by the devastating strikes on Qatar’s Ras Laffan (MEES, 20 March). Iran’s attacks on energy assets in the UAE also reached new levels this week, with the Fujairah oil terminal now largely out of action, the Shah gas field attacked on 16 March and the Habshan gas processing facility targeted on 18 March. Both gas assets remain offline as MEES went to press. The Shah gas field attack was the first successful Iranian strike on a…
Omani state upstream firm OQ Exploration and Production (OQEP) has announced its 2030 strategy, where it targets 300,000 boe/d of working interest output while maintaining a reserve replacement ration of at least 100%. The company has been in expansion mode over the past decade and is showing no signs of slowing down (see chart 1). OQEP’s working interest was hovering around 40,000 boe/d until two major projects came online in 2017, driving rapid growth; namely the expansion of its Bisat oil field in Block 60 and the startup of the BP-led 1bn cfd first phase Khazzan tight gas project in…
US Apache, in collaboration with the Egyptian General Petroleum Corporation (EGPC), has made a new natural gas discovery in the Western Desert, following the drilling of the SKAL-1X exploratory well in the South Kalabsha area. This, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR), is part of ongoing efforts to stimulate investment, boost domestic natural gas production, and reduce the import bill. Preliminary test results from the well show daily production rates of approximately 26 million cubic feet (mmcf) of natural gas and 2,700 barrels of condensate. This discovery reflects the success of the incentives…
Iran’s missile attacks on Qatar’s Ras Laffan Industrial City, the centerpiece of its critically important energy sector, on 18-19 March have reverberated across the region. The sight of fires tearing through sections of one of the world’s most important energy complexes has long been the worst nightmare for regional petro-states, and it has now been realized. The attacks came hours after Israeli strikes on Iran’s giant South Pars gas processing facilities (MEES, 20 March), following which Iran vowed retaliatory strikes against energy assets in the region (MEES, 20 March), specifically naming the 306,000 b/d Laffan Refinery in the heart of…
ARCIUS Energy and bp are set to begin offshore gas drilling operations in the Mediterranean Sea, following the arrival of the drillship Valaris DS-12 in Egypt to support the development of new exploration wells. The vessel is scheduled to begin operations with one production well and one exploratory well for bp, followed by the drilling of two exploratory wells, Atoll West and Nofret, for ARCIUS Energy, a joint venture between ADNOC Group and bp, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR) on March 23. The move comes as part of Egypt’s (MoPMR) broader strategy…
Media release: Singapore deal highlights strategic importance of LNG exports for Australia’s energy security | Australian Energy Producers Skip to content Source link
Libya’s NOC on 19 March said it had ‘completely contained’ a fire on the 725km pipeline linking its 300,000 b/d Sharara fields in the southwest to the Zawiya export terminal. “Production is expected to return to its previous levels within the next 24 hours, provided that the operational plan currently being implemented proceeds as planned,” NOC said in a separate statement. (CONTINUED – 253 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by data Exclusive information from high-level officials Assess future risks and opportunities Source link