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MENA upstream in brief

13 January 2020

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13 January 2020

MENA upstream in brief

Report summary

The MENA upstream in brief provides Wood Mackenzie's expert opinion and analysis of the key events impacting the upstream industry in the Middle East and North Africa. We draw upon our upstream database and data tools to help deepen our clients' understanding of the region. The report primarily focuses on exploration and appraisal drilling, project developments, production, licensing, fiscal and regulatory changes, geopolitics, and corporate and M&A activity.

Latest Insights
- Qatar Petroleum signs LNG deal with Kuwait Petroleum Corporation
- Israel’s Leviathan comes onstream
- Red Sea bid round attracts Chevron, but falls short of expectations
- Wintershall DEA finally converts its onshore Libyan fields to ESPA IV terms
- OPEC+ cuts to impact MENA producers through 2020
- Total receives green light for its acquisition of Marathon’s stake in Waha
- Qatar Petroleum adds two more trains to its North Field Expansion project
- SDX fires up first gas at South Disouq
- Iran announces second giant discovery
- Eni discovers additional volumes in the Gulf of Suez
- Shell puts its Western Desert assets on the market
- Qatar Petroleum spends big and expands its exploration position in Brazil
- LUKOIL enters Abu Dhabi with stake in Ghasha ultra sour gas project
- Iran announces largest global discovery of the year so far
- CNPC exit from Iran’s South Pars Phase 11 gas project
- Egypt to purchase additional gas from Israel
- Wintershall DEA considers Libya exit
- Baltim Southwest starts up in record time offshore Egypt
- Iran signs contract to develop Balal offshore gas field with local company
- Key Saudi Arabia oil infrastructure targeted by attacks
- Neptune fires up gas sales at Algeria's Touat development
- No stopping Qatar Petroleum: enters Namibia, farming into Total’s deepwater blocks
- Shell goes back to frontier exploration on Egypt’s West Delta Deep Marine
- OMV’s Nawara breathes fresh life into Tunisia’s ailing gas industry
- Oil discovery in South Sudan – infusing fresh barrels
- Asian players exit Sudan’s Greater Nile Oil Project
- Eni and BP ink exploration licence in Oman
- Israel’s Leviathan partners reconsider FLNG
- Dana Gas seeks Egypt exit as Merak-1 disappoints
- Guyana becomes Qatar Petroleum’s latest country-entry
- Qatar Petroleum adds Kenya to its portfolio
- Eni announce multiple Egyptian discoveries and start-up of Southwest Meleiha
- United Oil & Gas acquires Rockhopper Exploration’s Egypt business for US$16 million
- Tunisia diversifies corporate landscape: awarding six prospective onshore and offshore licenses
- Egypt continues to deliver on arrears to IOCs
- Eni extends midstream pipeline deal with Tunisia’s NOC ETAP – what does it mean for Tunisia?
- OPEC+ production restraints set to continue
- Energean beats competition to acquire Edison’s E&P assets
- Al Dhafra achieves first production from Haliba
- Kuwait Oil Company and Halliburton partner up to explore offshore Kuwait
- Qatar Petroleum moving ahead with North Field Expansion project
- PTTEP acquires Partex Holding for US$622 million from the Calouste Gulbenkian Foundation
- Dispute settlement paves the way for Israel to start exporting gas to Egypt
- Dragon Oil makes a splash in Egypt with the acquisition of BP’s GUPCO assets
- Saudi Aramco signs up for largest ever US LNG deal
- Sound Energy considers Morocco exit
- Dana Gas seeks Egypt’s next gas giant
- Jordan considers reviewing deal to buy Leviathan gas
- Total-Occidental sign contingent deal for Anadarko's African assets
- ADNOC launches second bid round
- Bina Bawi renegotiation could unlock a new Kurdistan gas project
- Algeria replaces head of Sonatrach amid ongoing reshuffle
- US announces an end to Iranian sanction waivers
- Eni continues its Middle East exploration spree
- Energean finds more gas at Karish North offshore Israel
- Chevron to acquire Anadarko - our take on Anadarko's North African assets
- Total picks up more gas acreage in Oman
- Lebanon joins the East Mediterranean’s licensing frenzy
- Libya National Army makes final push for Tripoli
- Iran and Iraq negotiating joint development of two border area oil fields
- Ratio Oil Exploration set to enter upstream Egypt
- Indian consortium awarded Abu Dhabi's Onshore Block 1
- Who will win Edison's upstream asset sale?
- INPEX joins Abu Dhabi’s hunt for resources
- Iran's South Pars Phases 13 and 22-23-24 come onstream
- Eni finds gas from its long-awaited Nour prospect
- Qatar Petroleum and Eni partner up again, this time in Morocco
- Egypt closes two rounds and opens a third
- Qatar Petroleum expands its presence in Mozambique
- Iraq's dash for gas
- ADNOC signs midstream deal with Blackrock & KKR
- Oman gas deal takes a step closer
- BP’s Giza and Fayoum bolster Egypt’s gas production
- Libya's eastern administration takes control of El Sharara
- Occidental awarded UAE's Onshore Block 3
- Libya’s state oil firm needs US$60 billion in investment in its oil and gas industry
- Jordan restarts imports of Egyptian gas, as Egypt moves into surplus
- Sarta development set to go ahead after Genel Energy farm-in
- Oman to launch 2019 licensing round
- Kurdistan liquids production powering ahead
- Eni announces a flurry of exploration licences across the Middle East
- Total follows Shell and exits Mukhaizna
- OMV awarded 5% stake in Abu Dhabi's Ghasha Concession
- Iraq's Halfaya phase 3 ramping up
- Qatar Petroleum expands its presence in Mexico
- CNPC suspends investment in Iran's South Pars 11 project
- OPEC+ opts for 1.2 million b/d production cut
- BP picks up 25% of Eni's Nour concession offshore Egypt
- Qatar Petroleum adds Mozambique to its portfolio
- Qatexit- Qatar quits OPEC as it focuses on expanding gas production
- Wintershall awarded 10% in Abu Dhabi’s Ghasha concession
- Mukhaizna looks to reduce reliance on gas for steam generation
- Eni picks up stake in sour-gas offshore concession
- Total expands Abu Dhabi footprint with unconventional gas award
- Mubadala acquires 20% stake in Eni's Nour block
- OMV rationalises its Tunisian portfolio
- Israel launches its second offshore licensing round
- US re-imposes Iran oil and gas sanctions, but grants temporary waivers
- Occidental expands its position in Oman
- Eni extends its position in Algeria: onshore development and frontier offshore opportunities
- PETRONAS bets big on Oman
- Qatar Petroleum to go it alone with Idd El Shargi North Dome
- BP partners with Eni to return to Libya
- Total set to grow Algerian production further with latest gas deal
- Abu Dhabi's SARB and Umm Lulu start up
- Israeli gas exports edge closer to Egypt
- Qatar adds a fourth mega-train to its LNG expansion plans
- United Energy Group to acquire Kuwait Energy Company
- All hopes on Iraq?
- SOCO International acquire Merlon International's Egyptian assets
- Qatargas signs major LNG deal with PetroChina
- Algeria's Touat hits another delay
- Egypt's Damietta LNG plant set to restart
- Court rules in Union Fenosa Gas' favour: what does this mean for Egypt's Damietta LNG plant?
- A summer of success: Eni's Western Desert story
- Total to exit Iran's South Pars Phase 11 project
- Eni’s flurry of Egyptian activity
- Majnoon expansion gets the go-ahead
- Egypt's EGAS bid round extended
- First wave of US sanctions on Iran: oil production outlook downgraded
- Put to the test: production begins at the offshore unconventional Khalij al-Bahrain discovery
- Sounds good to Schlumberger: new joint venture in eastern Morocco
- Oman records highest ever monthly gas production
- Eni stregthens its position in Algeria
- Peshkabir provides a boost for Kurdistan
- Libya pushes an elephant up the stairs
- Libya lifts force majeure on its eastern ports
- Eni bolsters Libyan production
- Petrofac sells Chergui field in Tunisia to Perenco
- Sharjah joins the UAE's exploration licensing frenzy
- OPEC agrees to ease production restraint
- Libyan National Army (LNA) regains control of Ras Lanuf and Es Sidra ports
- Ibrahim Jathran, the scourge of Libyan production, strikes again
- Morroco's Tendrara FEED studies begin
- Qatar enters the shale sector with Argentina acquisition
- Iran and the Pergas consortium sign HoA for the Karanj oil field
- Egypt bid rounds - two for one
- Kuwait Energy sells 68% of the family silver
- Shell and Total sign MOUs to develop Oman gas
- US announces withdrawal from Iran nuclear deal
- Eni's new Western Desert discovery – high-value barrels onshore Egypt
- Eni's lucky drillshipfalters
- Crescent Petroleumdominates Iraq's Round 5
- BP announces sanction of Khazzan expansion phase in Oman
- Indian Oil enters Oman, acquiring Mukhaizna from Shell for US$329 million
- OMV wraps up ADNOC Offshore concession awards
- Are Bahrain’s giant oil and gas discoveries commercial?
- North Africa team to present in Cairo
- Total and CEPSA start-up the second of Algeria's Southwest projects
- Energean takes FID on Karish and Tanin
- PetroChina awarded stakes in two ADNOC Offshore concession areas
- NIOC awards IPC to local operator Pasargad Energy
- Total joins Eni in ADNOC Offshore
- Iran signs its first oil IPC with Zarubezhneft
- Qatar and Abu Dhabi extend agreement for shared Bunduq oil field
- Eni in two deals with Abu Dhabi
- ONGC Videsh and Zarubezhneft signcooperation agreements with Iran's IDRO
- Attracting international investment to Iraq
- Total buys Marathon's Waha stake in Libya
- Japan's INPEX joins ONGC in UAE's Lower Zakum
- Repsol and Shell extend footprint in Morocco
- Abu Dhabi offshore builds momentum with Cepsa award
- Indian consortium awarded 10% of Lower Zakum field, Abu Dhabi
- Eni makes Calypso gas discovery in deepwater Cyprus
- Kuwait remains on track to introduce super light blend in April
- Qatar Petroleum partners with Majors to expand internationally
- President Sisi to inaugurate Zohr
- Noble Energy sells down stake in Israel's Tamar gas field
- Genel Energy upgrades its Kurdistan gas resources
- North Africa team to present in Cairo
- ADNOC launches FEED for sour gas projects
- Shell refocuses its Middle East business
- Oman awards Block 57 to new entrant Petroleb
- Eni extends in offshore Morocco
- Repsol unwraps new Algerian southwest gas before Christmas
- What to look forin 2018
- Gazprom signs MoU with NIOC to revive the Iran LNG project
- Iraq agrees Kirkuk oil swap with Iran
- Energean clears FID hurdle with latest gas sales agreements
- East Med pipeline to Europe inches forward
- Egypt's Atoll begins test production at 300 mmcfd

Tables and charts

This report includes 112 images and tables including:

Qatar LNG contracted vs uncontracted volumes 2015-2040
Israel's gas production (2012-2025)
Red Sea bid round awards

MENA OPEC+ production agreement
Total's net production in Libya (2015-2025)
Qatar LNG supply growth to 2030
Top 5 largest discoveries in 2019
Largest liquid discoveries in Egypt (2010-2019)
Shell's producing assets in Egypt's Western Desert
LUKOIL net working interest Middle East production
Top 5 largest discoveries in 2019
Contracted gas exports to Egypt
Wintershall DEA upstream value by country (US$NPV10, 1/1/2019)
Gas production from Greater Nooros Area (2000-2027)
Balal Gas Development
Algeria's South West Gas production (2017-2025)
Nawara map
Major oil discoveries in South Sudan
GNOP fields in Sudan
Block 77 location
Leviathan reserves and resources
Production from Dana Gas’ concessions (2015-2025)
QP international licences by country and operator
Eni's Egypt entitlement production (2005-2025)
Egypt's recent M&A activity
Tunisia prospective licence awards
Egypt's arrears to IOCs (2014-H1 2019)
Tunisia's supply and demand balance (2015-2025)
NFE contract awards Q2 2019
Sensitivities on the Tendrara gas project
Egypt’s exploration and appraisal drilling (2009-2019)
NEPCO contract- impact on Leviathan’s economics
Total and Anadarko net production in Africa
Anadarko's interest in Africa
ADNOC second licensing round blocks
Eni's UAE exploration blocks
Israel’s gas exploration creaming curve (2008-2019)
Anadarko net cash flow in Algeria (2015-2025)
Total's awarded gas blocks
Blocks on offer in Lebanon's 2019 licensing round
ADNOC exploration licencing round block awards
Edison's net production by country
ADNOC exploration licensing round block awards
Gas production from Phases 13 and 22-23-24
Active blocks in Morocco and operatorship
Ganope 2019 Red Sea licensing round
Qatar Petroleum farms in to Mozambique's Block A5-A
West Nile Delta production and cumulative investment (2014-2030)
UAE Onshore Block 3
Libya's liquid production and investment (2018-2022)
Libya's investment (2018-2022)
Jordan gas imports (2010-2030)
Oman 2019 licence round blocks
Kurdistan liquids production
Exploration acreage announced by Eni
South Pars Phase 11 production (stage one)
Qatar Petroleum's Mozambique blocks
Qatar oil and gas production to 2030
Eni's Abu Dhabi portfolio
Total's share of global reserves by resource theme
Nour block location
Tunisia's recent M&A activity
Israel offshore bid round blocks and zones
Occidental's new acreage position
Petronas cash flow in Khazzan (left), Khazzan share of Oman production (right)
Occidental liquids production
BP and Eni's Libyan acreage
Total's Algerian working interest production (2013-2025)
Post transaction East Mediterranean Gas company ownership structure
Qatar LNG supply growth to 2030
KEC value
Kuwait Energy working interest production
El Fayoum Fields map
China Contracted LNG Volumes by Source
Commercial structure of the Damietta plant
Eni's Egyptian investment (2015-2020) and production by basin
Eni licence extensions and assumed Nour well location
New oil production capacity from recent project approvals
Map of blocks on offer
2017 KAB-2 discovery well
2018 gas production and consumption
Eni’s global portfolio by remaining value (US$ million nominal)
Map of social unrest
2018 Sharjah Licensing Round
Tendrara map
Kuwait Energy Portfolio
Eni's South West Meleiha block in Egypt's Western Desert
Wells drilled offshore Morocco since 2013
Blocks won
Blocks won
Indian Oil Corporation working interest production
ADNOC Offshore participation
2017 exploration wells offshore Bahrain
Contracted gas supply into Israeli domestic market (2010-2025)
ADNOC Offshore participation
Location of Jufeyr and Sepehr oil fields
ADNOC Offshore participation
Aban and West Paydar combined production
Location of Bunduq oil field
ADNOC Offshore participation
Main IOC analysis: strategic fit of Libya
Acreage held by Repsol and Eni in Morocco. Inset shows Repsol's new block and the Tendrara field
Cepsa working interest production by country (2013 to 2023)
Abu Dhabi gas supply by source
Middle East upstream value per barrel
Block 57
IOC Moroccan blocks and net acreage held
Southwest gas production (2016-2025)
Karish and Tanin contracted volumes
Delivered cost of gas into Europe, 2030
BP Egyptian capex (2010-2030)