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MENA upstream: what to look for in 2016

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05 January 2016

MENA upstream: what to look for in 2016

Report summary

We highlight the key events to watch in the Middle East and North Africa in 2016, including: sanctions being lifted on Iran, Saudi Arabia maintaining its oil production, as well as progress on a number of major projects across the region. As ever geopolitics will play a key role in the region, particularly given the low oil price environment. Exploration will remain largely suppressed, except in the East Mediterranean which is seeing renewed interest following last year's Zohr discovery.

Table of contents

    • Sanctions to be lifted on Iran, Saudi to maintain production output
    • Wasit Gas Project to come online
    • ADCO negotiations to continue
    • Al Shaheen to be awarded by year-end
    • Eni to sanction the Zohr project
    • Progress at Leviathan, but no FID in 2016
    • Gas exports from the Kurdistan Region of Iraq to be sanctioned
    • Iraq/KRG relationship status quo, IS occupation to continue
    • Yemen conflict will continue to affect production
    • Impasse on the Partitioned Neutral Zone
    • Disposals likely as Shell/BG deal concludes
    • Distressed companies to start selling out of Kurdistan/Egypt
    • Oman to increase corporate tax on LNG producers
    • Exploration will remain suppressed, with the exception of the East Mediterranean
  • Wood Mackenzie builds presence in the Middle East

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  • Key events to look for in MENA in 2016

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