CONFLICT-HIT IRAQ boasts the world’s largest endowed oil reserves, according to London-based Petrolog & Associates.
Its proven reserves are 145.5 billion barrels – one-quarter higher than published BP data of 115 billion barrels – whilst probable reserves exceed 234 billion barrels. The latter are referred to as ‘technical’ reserves that have a 50 per cent probability of extraction under given economic
QATAR WILL PRESS ahead with plans to offer gas exploration licences, despite the downturn in global energy prices.
Following the recent award of a production sharing agreement to Wintershall, the Gulf state will offer three additional gas exploration blocks.
Further afield Egypt is being increasingly looked to as a one of MENA’s key producers as new processing facilities aimed at export markets are re-examined in the light of burgeoning domestic demand.
The first piped supplies were gratefully received by Syria last year as a welcome complement to declining oil output – and soaring power demand - there.
DOLPHIN ENERGY HAS refuted recent press speculation and announced that it is keeping its options open for replacing a multibillion credit facility for its natural gas pipeline from Qatar that will expire next year.
The Abu Dhabi based company, which is controlled by Mubadala Development, said it planned to arrange new financing during the first half of next year to replace US$3.45 billion of bank credit arranged in 2005.
A NEW STUDY predicts that the Floating Liquefied Natural Gas (FLNG) business is rapidly developing into a sector of major significance and will be worth US$8.5 billion by 2015. The new study, The World FLNG Market Report 2009-2015, has been published by energy business analysts, Douglas- Westwood.
