Insight
MENA upstream month in brief: 01 March 2016
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Report summary
February saw an announcement of a potential OPEC freeze of production for Saudi Arabia, Qatar, Russia and Venezuela, to January levels. Reformists gained ground in Iranian elections. Eni continues to find success in Egypt, with a positive appraisal well on Zohr and a smaller discovery in shallow water Nile Delta. Elsewhere in the region, gas projects are at the fore. BP plans to expand Oman’s Khazzan project finding productivity improvements. In North Africa, Algeria’s In Saleh second phase came onstream, and a tender has been launched for a second phase of Libya’s Bahr Es Salam. Noble Energy submitted a new development plan for Leviathan, and Saudi Arabia looks to unconventional gas projects in the north of the country.
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