Total CEO Patrick Pouyanne and BP’s Group Chief Executive Bob Dudley shared insights on how their companies found opportunities in in the downturn.

Investments made by Middle East oil and gas producers are focused on adding new capacity.

Kuwait Oil Co., Jurassic Gas fields, natural gas, consumption, Kuwait

Exploration activity targeting Jurassic carbonate reservoirs in North Kuwait has led to the discovery of six major tight gas fields in the last decade.

Israel, offshore, oil, gas, potential, Shaul Meridor, energy, ministry

Israel has invited oil and gas companies to participate in its upcoming bid round, offering 24 exploration blocks in the Mediterranean Sea’s Levant Basin.

Abu Dhabi National Oil Co., ADIPEC, ADNOC, Al Dhafra Petroleum, oil, onshore, offshore

Al Dhafra Petroleum will start production from the Area 1 and Area 2 fields onshore before tapping the offshore Area 3.

Land & Leasing

Lebanon sits on the Levant Basin in the eastern Mediterranean where a number of big subsea gas fields have been discovered since 2009, including the Leviathan and Tamar fields located in Israeli waters near the disputed marine border with Lebanon.

U.S.-backed militias said they captured Syria’s largest oil field Oct. 22, pressing their assault against Islamic State. The Syrian Democratic Forces (SDF) said it took al-Omar Field on the eastern bank of the Euphrates River in the early hours.

The launch of ARO Drilling with Saudi Aramco will provide Rowan with an 'unparalleled long-term growth opportunity throughout the next decade and beyond,' CEO Tom Burke says.

The consortium submitted two bids for Block 4 and Block 9, Lebanon’s Energy Minister Cesar Abi Khalil said in a statement on Facebook.

Royal Dutch Shell is seeking to sell its 17% stake in the Mukhaizna oil field in Oman, which could fetch up to $200 million, banking sources said.

Reservoir Evaluation

Genel said the well, which was drilled to a measured depth of 3,100 m (10,171 ft), encountered good quality oil bearing Cretaceous Shiranish and Kometan reservoirs.

The Halini-Deep-1 discovery is the third discovery in the block following Halini-X-1 in 2011 and Kalabagh-1A in 2015.

Genel estimated that Taq Taq had proven and probable reserves of 356 million barrels (MMbbl) of oil as of Dec. 31, down from the 683 million it had estimated in June 2011.

The Sara-4 development well in Pakistan has been completed in the Sui Upper Limestone formation of Eocene age, flowing gas at an average rate of about 1.6 million cubic feet per day, Jura Energy Corp. said in a news release.

ShaMaran Petroleum estimates the well can produce more than 10,000 barrels per day of oil.

Wildcats & Stepouts

The new discovery was made onshore in the Uzunada area, state news agency TDH said. The test well produced 500,000 cubic meters of gas and 150 tonnes of condensate per day, it said.

During testing, the well flowed oil and gas in Lockhart-1 formation at a rate of 2,020 barrels of oil per day and 5.4 million standard cubic feet per day, respectively.

Aramco, the world’s largest oil company, which is preparing a stock market listing to sell a small portion of its shares, has discovered three new oil fields, it said in the report. They are Faskar, offshore in the Arabian Gulf near the Berri field; Janab, east of the Ghawar field; and Maqam, in the eastern Rub'al-Khali.

Egypt entered the LNG market with a burst of imports earlier this year, making it one of the world's top growth markets.

The company does not yet have sufficient evidence to determine whether this or any part of the resource can be technically or economically produced.