Iraq
Iraq, Nigeria, and Venezuela are in the "B" Group, aka the "P" Group. "P" for political.
Tuesday, February 6, 2007
Algeria
Number 14
Algeria
Algeria, which has doubled its crude oil production over the past seven years, is aiming to increase its output by another 40 percent by 2010. And while the country is pushing for more oil production, it’s also hoping to dramatically increase mining activity.
Algeria now produces about 1.4 million barrels per day, and Sonatrach, the national oil company, believes the country can add another 600,000 bpd by ramping up foreign investment in new fields. The major foreign oil companies in Algeria include Anadarko Petroleum Corp., BP, Shell, BHP Billiton, ENI, and Hess Corp. Houston-based Anadarko is the biggest foreign operator, with a total Algerian production of 530,000 bpd. Anadarko is now partnering with Sonatrach to develop the El Merk project, expected to add 150,000 bpd by 2010. BP plans to nearly quintuple production at Rhourde El Baguel, Algeria’s second-largest oil field with about 3 billion barrels of proven reserves. Although the field is huge and has been producing for more than four decades, it has only produced 450 million barrels. By 2010, BP expects to raise output from the current 27,000 bpd to 125,000 bpd.
http://www.energytribune.com/articles.cfm?aid=386
Libya
Libya comes in at number 15 on the production list. Number 12 on the exporter list.
1,702 thousand barrels per day average in 2005 according to BP. According to BP this is also their recent peak production.
CERA has this to say:
Libya has suffered from two decades of underinvestment, but now that sanctions have been lifted, there is a feeling that it is "Aladdin’s cave waiting to be opened." Some US operators with major presanction positions have been negotiating to extend their old concessions, which were signed in the mid-1950s and are set to expire between end-2005 and early 2007 (Oasis Group–Conoco/Hess/Marathon and Zuetina Group–Oxy). The issue is not the principle of extension, but its length and the improvement of contractual terms. The Libyans held at the end of January the EPSA-1V upstream licensing round in which 15 new licenses were awarded. It marked the return of American companies, which won 10 out of the 15 areas. Although this round generated major interest, some notable companies either did not participate or bid unsuccessfully. Much of the country remains unexplored, and although non-US investors made progress during the period of sanctions, the level of investment was not enough to expand capacity significantly. Many of the fields are mature, and natural decline may be now be quite high as a result of underinvestment during the sanction period.
A further licensing round is anticipated to start in second quarter 2005, and a mature fields round is in expected in mid-2005. CERA anticipates that liquids capacity will climb from 1.95 mbd in 2005 to 2.47 mbd in 2010. Much of this gain will be sourced in the medium term from rehabilitation of the existing fields, especially those of the Oasis and Zuetina groups, but some capacity will be added from discoveries that will be made in the next two to three years. In the short term, liquids additions from the Elephant and El Saharah fields and the West Libya Gas Project will continue to expand. Perhaps the greatest constraint on progress will be the pace at which the Libyan authorities decide to manage the influx of new investment.
Further analysis:
The EIA has Libya at 1,633 C+C production for 2005, up slightly to 1,684 for 2006(thru November) - roughly in-line with BP numbers, when you figure 68kbpd NGL's(2004). So we're going to go with CERA's forecast to 2010 minus 200kbpd. So 2,270 for 2010. Moving up steadily.
Present production(2006) comes in under CERA's 2005 "capacity" forecast by 200kbpd. The question is whether or not to cut another 200Kbpd.
For now we will compromise at 100kbpd. So 2,170.
Brazil
Number 16
Brazil
The difference between BP's and EIA's numbers are the roughly 250,000 bpd of ethanol Brazil produces.
***
March 22
http://www.rigzone.com/news/article.asp?a_id=42873
Brazil's federal energy company Petrobras (NYSE: PBR) last month saw domestic and international production grow 1.3% to 1.94Mb/d compared to January, the company said in a statement.xxx Petrobras attributed the performance in part to resumed production at the P-37 platform in the Marlim field following a programmed shutdown in January.xxx The start of production at the Cottonwood field in the US and improved performance in Ecuador were also behind the increase. xxx Domestic production increased 1.1% to 1.80Mb/d and international output in eight countries climbed 2.7% to 131,306b/d.xxx Petrobras' international production came from operations in Angola, Argentina, Bolivia, Colombia, Ecuador, Peru, the US and Venezuela. Argentine output made up the bulk of this production with 57,193b/d.xxx As for domestic production, offshore and onshore output was 1.56Mb/d and 231,900b/d respectively, the statement said.
xxxxxxx
Kazakhstan
Number 18
Kazakhstan
March 2007 STEO:1.29, 1.35, 1,45, 1.52 mbpd by 2008. I'm lowering target to 1.85 by 2010 from 2.0 on recent Kashagan news.
Three-field spreadsheet analysis.
Angola
Number 19
Angola
Posted on Jan. 17, 2007
http://www.energytribune.com/articles.cfm?aid=353
***
Saudi Arabia Warns Angola on Oil Expansion
3/14/2007
URL: http://www.rigzone.com/news/article.asp?a_id=42519
Angola
Angola, which may soon be joining OPEC, wants to increase its daily oil production to 2 million barrels by 2008. But to meet that goal the country will need about $10 billion in additional annual investment, and it appears the money is forthcoming.
Chevron is among the companies that have increased investments in the country’s oil sector. The company produces about 500,000 barrels per day in Angola (roughly one-third of the country’s output) and its subsidiary, Cabinda Gulf Oil Co., has started producing oil from the Landana North reservoir in the Tombua-Landana development area. Landana is about 50 miles off the coast of Cabinda, an enclave that belongs to Angola (though not contiguous with that country), located north of the Congo River mouth. When Landana’s peak production is reached in 2010, output for its 46 wells should be 100,000 barrels per day.
Posted on Jan. 17, 2007
http://www.energytribune.com/articles.cfm?aid=353
***
Saudi Arabia Warns Angola on Oil Expansion
3/14/2007
URL: http://www.rigzone.com/news/article.asp?a_id=42519
Saudia Arabia, the most powerful member of the Organization of the Petroleum Exporting Countries, has told Angola, its newest entrant, not to assume it will be able to expand production past 2 million barrels a day, The Financial Times reports Wednesday, without citing sources. This is a blow to the world's biggest oil companies, which have already paid Angola billions of dollars for the right to explore and produce its oil. Angola joined the oil cartel in January and should reach the 2 million barrel a day threshold at the start of next year. It had a target ofproducing 2.5 million barrels a day by 2012, a target which has now been thrown into doubt.
Angola, one of the poorest places on Earth, is an oil industry darling
By Jad Mouawad
Published: March 19, 2007
Monday, February 5, 2007
Argentina
Number 24
Argentina
Currently, Argentina is an energy exporter, but perhaps not for long. According to the national statistical institute, INDEC, in October 2006 the difference between exports and imports for crude oil, natural gas, and electric energy was a positive $530 million. But oil production peaked in 1998 at 850,000 barrels of oil per day, and has declined since then to 700,000 barrels of oil per day. Oil companies have failed to increase production from mature onshore assets. The major stakeholders in Argentinean oil production are Repsol-YPF (a Spanish-owned company) with 41.5 percent of oil production, Pan American (U.S.-owned) with 16.9 percent, and Brazil’s Petrobras with almost 10 percent. Chevron controls 8.6 percent, and a number of smaller oil companies account for the remaining 23 percent.
http://www.energytribune.com/articles.cfm?aid=414
Syria
30 Syria
Group "D." Although with a surprising comeback in 2003. Did that have anything to do with Iraq?
Sunday, February 4, 2007
Azerbaijan
32 Azerbaijan
Oil & Gas Journal is apparently reporting that Azerbaijan increased its production in 2006 by 180,000 bpd, so that would give us a total of 630,000 bpd if we use BP's 2005 figure as a base.
Oil & Gas Journal is apparently reporting that Azerbaijan increased its production in 2006 by 180,000 bpd, so that would give us a total of 630,000 bpd if we use BP's 2005 figure as a base.
Subscribe to:
Posts (Atom)
