“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 has awarded a pre-construction award for offshore facilities on the Hail and Ghasha project to a group including National Petroleum Construction Co. (NPCC).
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.
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.
Adnoc has awarded Samsung Engineering a letter of award for pre-construction services on the Hail and Ghasha project.
“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.”
With Qatar at the centre of a “sellers’ market” for LNG, what can the East Mediterranean offer European governments to ease the pressure?
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 said there were near-term growth opportunities. This would involve infill drilling and sidetracks for six new wells, boosting output to 15,000 bpd.
Turkey’s TPAO has added another 58 billion cubic metres of gas to its holdings with a discovery at the Caycuma-1 well.
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 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 aims to drill “as soon as possible” in Lebanon’s Block 9, in 2023, following talks with the Lebanese government.
Chevron (NYSE:CVX) has taken a final investment decision (FID) to expand the Tamar field, offshore Israel.
Adnoc has the goal of being the world’s lowest-cost oil producer of choice. Unlike some of its IOC competitors, struggling to come to terms with the demands of meeting today’s energy needs and tomorrow’s transition, it is willing to put the money in.
Adnoc has brought forwards its plans to reach 5 million barrels per day of production, while boosting reserves and setting out plans for an IPO of a new gas unit.
TotalEnergies and Eni have reached a deal with Israel allowing them to begin exploration in Lebanon’s Block 9.
Adnoc Drilling has reported its results for the first nine months of 2022, with net profit up 24% and EBITDA up 12%.
Energean has added another 13 billion cubic metres of gas offshore Israel at its Zeus exploration well, with one more well to drill.
Siemens Energy has signed up to work with Adnoc to account for the emissions linked to production.
Adnoc has awarded three drilling fluids contracts, worth $4 billion, to Adnoc Drilling, SLB and Halliburton.
Adnoc CEO Sultan Al Jaber has called for the world to produce from all the energy sources it can, while minimising emissions.
Energean has reached first gas from its Karish field, offshore Israel, with more wells coming online over the next month.
Weatherford has signed drilling contracts with Saudi Aramco and Petroleum Development Oman (PDO), for three years and five years respectively.
China Oilfield Services Ltd (COSL) has won a number of drilling contracts from one company in the Middle East worth 14 billion yuan ($1.92bn).