Page 19 - MEOG Week 34

MEOG NEWS IN BRIEF MEOG

However, the UAE’s government long August and September will amount to 1.25 GAS
has considered Iran its top regional threat million bpd for each month.
and recent tensions between Tehran and “The reduction could be adjusted when Energean progresses Karish
Washington have seen a series of incidents the six secondary sources publish their
near it. production figures,” the joint statement said, development with FPSO
Deployed Patriot missile batteries visible referring to oil industry data providers such as
from one major Dubai highway remain the International Energy Agency. work
pointed north towards Iran. The two ministers stressed their full
Abu Dhabi’s Crown Prince Sheikh commitment to an OPEC+ deal curbing oil Installation of mooring lines for the Energean
Mohammed bin Zayed Al Nahyan, who production. Power floating production, storage, and
serves as the UAE’s day-to-day ruler, long has Abdul Jabbar confirmed Iraq’s firm offloading vessel at the 267 MMboe 2P Karish
warned Israel may strike first to destroy Iran’s commitment to the OPEC+ agreement, field offshore Israel is in progress following the
nuclear programme if it is not contained. That adding that Iraq would reach 100% installation of suction anchors, Energean PLC
would start a regional war that would see conformity by the beginning of August. said Aug. 24. The project remains on track to
Tehran target the Emirates, he has repeatedly The two ministers discussed in a phone deliver first gas in second-half 2021.
told US officials. call the latest developments in the oil markets, In less than 3 weeks, 13 piles weighing 176
“This is the Middle East and we will do continued recovery in global demand and tons each of 7.5 m diameter, 19 m height, and
what we need to do,” Sheikh Mohammed progress made towards implementing the one pile weighing 233 tons of 9 m diameter, 17
was quoted as saying in a February 2009 US OPEC+ agreement. m height, have been installed on the seabed in
diplomatic cable published by WikiLeaks. The Organization of the Petroleum water depths of 1,695-1,763 m.
“When the Iranians fire their missiles we will Exporting Countries and allies, known The piles were transported and installed by
go after them and kill them. as OPEC+, began a record supply cut in the Fairprayer heavy lift construction vessel,
Thursday’s announcement by Tehran of May to bolster oil prices hammered by the owned by Jumbo Offshore and subcontracted
the incident comes a day after Trump said coronavirus crisis. by Karish EPC contractor, TechnipFMC.
the United States will activate a controversial OPEC and allies led by Russia, known as The FPSO, to be installed 90 km offshore,
mechanism aimed at reimposing UN OPEC+, agreed to cut output by 9.7 million will be the first FPSO to operate in the Eastern
sanctions on Iran. bpd, or around 10% of global output, from Mediterranean and will be used to develop
BLOOMBERG May 1, and to taper off the cuts to 7.7 million Energean’s Israeli fields. It will have a gas
bpd from August. treatment capacity of 800 MMscfd and liquids
Iraq pledges to deepen bpd of its share of the cuts, equal to 94% storage capacity of 800,000 bbl.
In July, OPEC delivered 5.743 million
In June, the company completed
oil output cuts in August, compliance, a Reuters survey found. installation of the sales gas export pipeline and
main deepwater production systems in the
Iraq agreed to cut output by 1.06 million
September bpd under the deal. Karish and Tanin development project
The Saudi and Iraqi energy ministers said
OGJ
Iraq said on Friday it would cut its oil efforts made by OPEC+ member states would
production by another 400,000 barrels per day enhance the stability of global oil markets, Iran launches new IGAT
in both August and September to compensate accelerate its balancing and send positive
for its overproduction in the past three signals to the markets, the statement said. lines
months. OPEC oil output rose by more than 1
Iraq oil minister Ihsan Abdul Jabbar said million bpd in July as Saudi Arabia and other Three giant oil, gas and petrochemical
in a joint statement with his Saudi counterpart Gulf members ended their voluntary extra projects will be inaugurated on Monday in the
Prince Abdulaziz bin Salman that Iraq’s output curbs on top of the OPEC-led deal, and presence of Iranian President Hassan Rouhani
cut was in addition to the 850,000 bpd it had other members made limited progress on through video conference.
committed to cut in August and September compliance. After the United States failed to activate
under an OPEC+ supply pact. REUTERS trigger mechanism with the opposition of 13
The total reduction to Iraq’s production in members of the UN Security Council, now,

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