Page 14 - MEOG Week 12 2022

MEOG NEWS IN BRIEF MEOG

OIL year, which is an eye-catching figure,” he said, revenue in February to $545.5 million.
adding that rising world prices also helped Canal revenue surged after a record rise in
New regular customers boost oil revenues. transit rates, with 1,713 ships passing through
He said the country’s petro-refining
the waterway versus 1,532 a year earlier, Suez
found for Iranian oil capacity was increase by 2 million barrels per Canal Authority Chairman Osama Rabie said
on March 1.
day within the coming years, adding Iran’s
The Iranian Minister of Petroleum said: crude oil and condensate production capacity ASHARQ AL AWSAT
“The Ministry of Petroleum of the 13th would be 5.7 million barrels per day in the
administration has done marketing with all future.
its capacity to find new and regular customers SHANA SERVICES
of Iranian crude oil shipments, and this
diversification continues day by day in all Suez Canal increases tolls Medco signs Oman rig deal
products.”
On Saturday evening (March 19), on the for laden tankers Oil and gas are the backbone of the Sultanate
eve of the anniversary of the nationalization of Oman’s economy, and over 1,000 new
of the oil industry in the TV program, Javad Egypt’s Suez Canal Authority said on Tuesday wells are drilled each year to ensure
Owji outlined the most important actions and it will temporarily increase a surcharge levied consistent production. This necessitates
future plans of the Ministry of Petroleum of on laden crude oil tankers and petroleum seamless collaboration between clients and
the 13th administration. products tankers transiting the canal in both contractors in order to develop oil and gas
He said: “Today, the country’s natural gas directions to 15% of normal dues from 5%, fields through continuous improvement in
production capacity is close to one billion effective May 1. drilling performance and strict control of HSE
cubic meters per day and crude oil production It said that ballast crude oil tankers and exposure.
capacity is close to 3.9 million barrels per day, petroleum products tankers transiting the One notable example of such collaboration
and fortunately all of it is made possible by Canal in both directions are still required to is the one between Medco LLC Oman and
capable Iranian specialists, employees and pay a surcharge of 5% of normal transit dues. Abraj Energy Services in the development of
companies.” The changes come “in line with the the Karim Small Fields in PDO Oman’s South
Referring to the studies of the Ministry of significant growth in global trade, the Area. Abraj Energy Services is the market
Petroleum for marketing new customers, he improvement of ships’ economics, the leader in Omani drilling services, offering
said: “In this regard, we used all the capacities Suez Canal waterway development and the custom-built rigs that are tailored to our
inside and outside and gave variety to our enhancement of the transit service”, according clients’ needs.
contracts.” to series of circulars published on its website This collaboration began in May 2010 with
The Minister of Petroleum, stating on Tuesday. the award of Abraj Rig 102. Abraj provided
that these customers are regular, said: “To The surcharge levied on laden and ballast a highly mobile Rig 105 in 2017, which has
some extent, it can be said that since these liquefied petroleum gas tankers, chemical been setting new benchmarks in the Karim
customers own refineries, sales to them are tankers and other liquid bulk tankers will be Small Fields.
continuous. Fortunately, this market continues also increased to 20% of normal transit dues, As a result, Medco LLC Oman and Abraj
to diversify in all products from the export from 10% previously. Energy Services recently extended Rig 105’s
of crude oil, gas condensate and continues to The Authority also said it will change the contract for another two years.
petroleum products and petrochemicals.” surcharge levied on laden and ballast dry bulk The contract was signed by Ahmad
Owji continued: “Revenues from the sale vessels transiting the Canal in both directions, Syaifudin, Oman Country Manager of
of crude oil, gas condensate, natural gas, to 10% of normal transit dues, compared with MedcoEnergi International Tbk and Eng
petroleum products and petrochemicals 5% previously, while the surcharge levied on Salah al Harthy, Acting Managing Director of
compared to last [calendar] year have other vessels was amended to 14% from 7%. Abraj Energy Services SAOC.
increased 2.5 times and net natural gas “These surcharges are temporary and can Such outstanding performance is critical
exports have been more than last [calendar] be either amended or cancelled according to for efficiently producing and meeting oil
year.” the maritime industry market conditions”, a targets from the Karim Small Fields in the
“We have continued to increase exports in canal authority circular said. long term.
terms of volume compared to last [calendar] The Suez Canal posted a 15.1% jump in OMAN OBSERVER

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