Receding rocket threat allows Dana’s Kurdistan plans to resume
Dana reported that at the end of the first quarter its share of trade receivables, via Pearl, was $80mn, up from $64mn at the end of 2022.
E&P
TPAO makes billion barrel oil find
The company expects the new discovery will produce 100,000 bpd, doubling Turkey’s current production.
Gulf Keystone halves capex on Kurdistan export woes
The region owes Gulf Keystone $102mn, for supplies from October 2022 to January 2023. Kurdistan paid $66mn for August and September 2022 sales.
International offshore oil calls once more
Nigeria’s emissions are 16 kg of CO2 per barrel and Angola’s 17 kg, while on the shelf they rise to an average of 33 kg.
TotalEnergies brings in QatarEnergy to unlock Iraq deal
Plans took a long time to progress because of a difference of opinions over terms and shareholding. Iraq had pushed for a higher stake in the project. Initially, its interest was to be held by the Iraq National Oil Co. (INOC), this was abolished in September 2022.
DNO shuts production down in Kurdistan
“It is unfortunate it has come to this given the likely impact of a continuing supply disruption on oil prices and at a fragile time in global financial markets,” said DNO executive chairman Bijan Mossavar-Rahmani.
BP, Adnoc make take private offer for NewMed
BP said the offer was in line with its "stated strategy and financial frame including current guidance for capital expenditure".
Kurdistan operators confirm shutdown on Iraq-Turkey ruling
Iraq’s Ministry of Oil has said it would discuss how to export “Iraqi oil through the Turkish port of Ceyhan” with the authorities in Kurdistan and Turkey.
Genel pursues options beyond Kurdistan
“The business is now determined to add new revenue streams that build a stronger business”, said CEO Paul Weir.
Accelerating acquisitions, Adnoc Drilling orders hybrid land rigs
The company said the new rig order was a “direct response” to Adnoc’s production targets. It aims to reach 5 million barrels per day of capacity by 2027, in addition to achieving gas self sufficiency for the United Arab Emirates.
Cepsa sells down Abu Dhabi interests to Total
Cepsa said the sale was intended to allow it to focus on its Positive Motion strategy. This will make Cepsa a leader in sustainable mobility, biofuels and green hydrogen in Spain and Portugal, it said.
Dana bumps up profits, but Egypt receivables cast a shadow
Receivables in Egypt had fallen in 2021 but began climbing once more in 2022.
Qatar takes stake offshore Lebanon with Total, Eni
“Along with our partners, we are committed to drilling as soon as possible in 2023 an exploration well in Block 9, and our teams are mobilised to conduct these operations.”
Adnoc hands out early offshore Hail and Ghasha work
Adnoc has awarded a pre-construction award for offshore facilities on the Hail and Ghasha project to a group including National Petroleum Construction Co. (NPCC).
Energean sees Israel tripling company production in 2023
Total production for 2022 reached 41,000 barrels of oil equivalent per day, of which 75% was gas. For 2023, Energean forecasts this will increase to 131,000-158,000 boepd. Virtually all of the increase will come from Israel.
Gulfsands sets out plan for return to Syria
Under the plan, Gulfsands and its peers could return to their blocks, with appropriate sanction and other approvals. Back with operational control, they could improve oilfield practice – reducing the impact on the environment – while also producing oil.
Samsung Engineering venture wins early Hail, Ghasha work
Adnoc has awarded Samsung Engineering a letter of award for pre-construction services on the Hail and Ghasha project.
Euphrates Energy targets Oman as a first step
“We’ve managed to raise seed capital, from family and friends and some from Oman. We’re just waiting to sign a deal. We’re looking initially at around $30-35 million.”
Amid LNG scramble, East Med’s opportunity for Europe
With Qatar at the centre of a “sellers’ market” for LNG, what can the East Mediterranean offer European governments to ease the pressure?
Adnoc launches gas unit, eyes international LNG expansion
Gas, he said, would be “a critical fuel in the energy transition and Adnoc Gas, through its world-scale operations and significant growth and expansion plans, will be well-positioned to meet both local and international gas demand”.
Zenith strikes deal for OMV’s Yemeni assets, share price jumps
Zenith said there were near-term growth opportunities. This would involve infill drilling and sidetracks for six new wells, boosting output to 15,000 bpd.
TPAO adds more gas with Black Sea’s Caycuma find
Turkey’s TPAO has added another 58 billion cubic metres of gas to its holdings with a discovery at the Caycuma-1 well.
Qatar extends Japan’s offshore oil deal
However, QPD launched its work in the late 1990s and began producing in March 2006. The fields have now produced 33.5 million barrels of oil.
Genel set to write down value of Sarta field
Genel Energy has said its Sarta field, in Kurdistan, has fallen short of expectations and the company will need to impair the asset’s value.
TotalEnergies targets Lebanon well in 2023
TotalEnergies aims to drill “as soon as possible” in Lebanon’s Block 9, in 2023, following talks with the Lebanese government.