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Tag: Wood Mackenzie

Eni’s offshore Nour one of six high-impact wells to watch – Wood Mackenzie

Posted: February 6, 2019 at 5:21 pm   /   Oil & Gas

Consultant identifies six high-impact wells to watch. Latin American offshore plays will account for one-third of the large prospects due to be drilled globally this year, according to Wood Mackenzie. Potentially giant reservoirs off Brazil, Guyana, and Mexico will attract the highest investment. Dr Andrew Latham, vp, Global Exploration at Wood Mackenzie, said: “We expect […]

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WoodMackenzie Egypt Gas

Wood Mackenzie: Egypt’s astonishing gas renaissance

Posted: April 30, 2018 at 5:52 pm   /   Oil & Gas

Lessons in attracting upstream investment capital. By Simon Flowers – Chairman and Chief Analyst. Not long ago, Egypt’s gas industry was in crisis. Production fell by a third in the three years to 2015. A top ten LNG exporter in the prior decade, the country had, by then, become a top ten importer. Nearly all […]

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Wood Mackenzie: Gas mega-projects drive BP’s MENA growth

Posted: November 14, 2017 at 2:45 pm   /   Oil & Gas

MENA will constitute 38% of BP’s total production by 2025, compared to 27% currently. As part of the transition to a lower carbon world, gas is becoming an increasingly important component of the majors’ portfolios. Nowhere is this trend more visible than within BP’s Middle East and North Africa (MENA) portfolio. Using the Upstream Company […]

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Wood Mackenzie Podcast: Egypt’s Upstream Renaissance

Posted: August 10, 2017 at 12:44 pm   /   Oil & Gas

Over the last few years there has been a resurgence in Egypt’s upstream sector boosted by several offshore gas discoveries, most notably the Zohr discovery. The Zohr discovery, made by Eni in August 2015, is the largest gas discovery ever in the Mediterranean, and the first phase of production there is set to begin late […]

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Egypt to cut down on LNG imports as production output surges

Posted: May 12, 2017 at 2:46 pm   /   Oil & Gas

Rising domestic natural gas production prompted Egypt to start talks with its LNG suppliers to cut down on contracted cargo deliveries. The Egyptian Natural Gas Holding Company (EGAS) is looking to defer a number of cargoes scheduled for delivery through 2017, Reuters reports citing analysts. In addition to deferring 2017 cargoes, the company is looking […]

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Wood Mackenzie: Egypt’s gas market set to undergo major change

Posted: January 13, 2017 at 2:41 pm   /   Oil & Gas

Egypt’s gas market would undergo significant change over the next five years, impacting global LNG market, according to a research by the natural resources consultancy Wood Mackenzie. After five years of falling gas production and switching from a net exporter to a net importer, the new production capacity coming on stream over the next few […]

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How Eni bet big and won big on Natural Gas off Egypt

Posted: October 19, 2016 at 1:33 pm   /   Oil & Gas

A drilling ship working about 120 miles off the Egyptian coast for Eni, the Italian oil company based here, bored into a giant trove of natural gas in July 2015 that turned out to be the largest discovery ever in the Mediterranean Sea and by far the largest by the global petroleum industry that year. […]

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Wall Street Journal: Egypt presses oil companies for more time to pay for fuel

Posted: October 16, 2016 at 1:01 pm   /   Oil & Gas

The Wall Street Journal reports that EGPC called a meeting on Wednesday to ask energy suppliers to give it six months instead of the usual three to pay for LNG, crude and petroleum product orders now in the pipeline. The Journal says its unnamed source did not specify which suppliers attended the meeting; the paper […]

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Wood Mackenzie: Finding profitable projects at US$40-50/bbl

Posted: August 14, 2016 at 2:38 pm   /   Oil & Gas

By Angus Rodger Upstream investment in new projects has stepped up a notch over the last few weeks. A final investment decision (FID) has now been taken on six major developments through 2016 – including four in June and July. These projects account for a combined US$67 billion in capex and over seven billion boe […]

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Wood Mackenzie: Deepwater Exploration Cutbacks May Come Back To Haunt Oil Drillers

Posted: February 13, 2016 at 2:51 pm   /   Oil & Gas

We expect 2016 exploration spend to be around half the 2014 peak, and it could fall even further next year. Quarterly losses, dividends cut, budgets slashed – oil companies are in survival mode. Protecting cash flow is a top priority, so why continue to spend on exploration? The primary long-term organic growth engine of the […]

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