Exclusives

Total, United Arab Emirates, Abu Dhabi National Oil Co., ADNOC,  Abu Al Bukhoosh Field, Umm Shaif, Nasr, concessions, Lower Zakum

Knowledge gained at the Abu Al Bukhoosh Field (ABK) could be applied to other Abu Dhabi reservoirs, including the recently awarded concessions.

Stratas Advisors, oil production, Saudi Arabia oil production, Middle East oil

Saudi Arabia has embarked on a long-term strategy to expand its resource base and to increase recovery to 70% through the use of EOR technologies.

Solar steam production unlocks heavy oil in the Middle East.

Bahrain oil discovery, shale oil, Bahrain oil and gas

The economic impact of Bahrain’s recent oil discovery depends on how much of the estimated reserves are commercially viable to extract.

opec_shale_midas

The game has changed because of newer, more efficient technology.

Exploration

Qatar Petroleum (QP) signed an agreement on June 3 with Exxon Mobil Corp. (NYSE: XOM) to acquire a 30% stake in two of ExxonMobil's affiliates in Argentina.

The two companies also signed a product-sharing agreement for Ashrafi, Dan-Ulduzu and Aypara exploration area.

Lebanon’s search for its first oil and gas reserves began May 29 after authorities approved an exploration plan submitted by a consortium of France’s Total, Italy’s Eni and Russia’s Novatek.

Egypt has set Oct. 1 and Oct. 8 deadlines for two major international tenders for oil and gas exploration spanning 27 onshore and offshore blocks, the oil ministry said May 22.

One bid round will cover 16 concession areas, mostly in the Mediterranean Sea, under state buyer EGAS, in its largest ever bid round. The other auction will cover 11 concession areas under the Egyptian General Petroleum Corp.

Production

Iran's oil exports hit 2.7 million barrels per day (MMbbl/d) in May, the oil ministry's news agency SHANA reported on June 2, a new record since the lifting of international sanctions on Tehran in 2016, and despite the threats of fresh U.S. sanctions.

The United States plans to impose new sanctions on Iran after pulling out of a 2015 agreement between Iran and major world powers to limit Tehran’s nuclear ambitions.

Libya’s National Oil Corp. (NOC) said on May 23 there had been a “minor distribution delay” from Raguba field, but production was unaffected despite threats from protesters.

Iran signed a preliminary deal on May 16 for a consortium of international companies to develop an oil field, the first such contract since Washington withdrew from a nuclear agreement and said it would reinstate sanctions on Tehran.

France’s Total said on May 16 it may pull out of the Iran South Pars 11 (SP11) energy project in light of a decision by U.S. President Donald Trump to withdraw from an international nuclear deal with Iran.

Technology

The award includes the novation of substantial CRA linepipe and long lead items contracts.

The contract will improve the economics of Saudi Aramco’s unconventional resources program, Aramco said in a statement.

Falih also said he had reassured the executive director of the IEA of "commitment to the stability of oil markets and the global economy" and that he would contact others.

It was not clear whether CNPC had received top government approval to do so. But such a move could further strain the tense trade relationship between Beijing and Washington.

Japan’s biggest energy explorer, Inpex Corp., said on May 10 it may drop its second attempt to join in developing Iran’s South Azadegan oil field after U.S. President Donald Trump said he will re-impose sanctions on Tehran.