Oxy’s global Q2 output buoyed by Oman’s Block 62 production
Two gas fields – Fushaigah, Maradi Huraymah – have been brought online in Block 62
Aug 6: International oil and gas exploration and production firm Occidental Petroleum Corporation has credited rising hydrocarbon output from Block 62 in North Oman to an uptick in its international production during the second quarter of this year.
A ramp-up in output from Block 62 — also known as Habiba Block — coupled with record production from its Al Hosn operations in Abu Dhabi (UAE), helped lift Oxy’s international production by 24,000 barrels of oil equivalent (BOE) per day in Q2 1016, the company’s President and Chief Executive Officer said.
“Total company production for ongoing operations increased to 609,000 BOE per day from 590,000 BOE per day in the first quarter. The increase was driven by record production in Abu Dhabi and Oman,” Vicki Hollub stated while announcing the company’s Q2 results over the weekend.
Local subsidiary Occidental of Oman (Oxy) acquired Block 62 as part of an Exploration and Production Sharing Agreement signed jointly with Mubadala Development Company of Abu Dhabi in 2008.
Oxy is the operator under the EPSA holding a 48-per cent interest, with Mubadala holding a 32-per cent interest and the Oman Oil Company holding the remaining 20 per cent.
According to Oxy, two new gas fields — Fushaigah and Maradi Huraymah — have been brought online in Block 62. A gas plant was also successfully brought on stream at Maradi Huraymah.
These achievements were highlighted by Oxy’s President & CEO in a conference call on the company’s Q2 earnings. “An additional 7,000 BOE per day came from Block 62 in Oman, where a recently-constructed gas plant was put online to process production from two newly- developed gas fields. The plant was completed on time and on budget. This enabled us to achieve record production in Oman this quarter,” said Hollub.
“The increases in production from Al Hosn (Abu Dhabi), Block 62 (Oman), and ISSD (Qatar), along with strong year-over-year production growth from Permian Resources (US), will help us reach the higher end of our 4 – 6 per cent production growth guidance for 2016,” the President & CEO stated.
Oxy, the largest independent producer in the Sultanate, also owns Blocks 9 and 27, where the company operates multiple light oil and gas fields that are developed using waterflood second recovery methods. In south-central Oman, Oxy is the operator of the Mukhaizna heavy oil field in Block 53, where one of the world’s largest heavy oil steam-flood projects is under way.
Gross production from Oxy’s operations in the Sultanate averaged around 230,000 BOE per day in 2015, up from an average of 227,000 BOE per day in 2014. PARIS: The French city of Lille will not be holding its 2016 La Braderie de Lille, a globally famous flea market, over fear of terrorist attacks, the city’s mayor has said.
“It’s heart-wrenching to make this decision,” Xinhua news agency quoted Martine Aubry, the city’s mayor, as saying on Friday. The annual street market, dating back to the 12th century, is known as the biggest and oldest flea market in Europe.
It is supposed to take place on the first Sunday of September in Lille city, and used to attract millions of visitors from all over the world.
Though some local vendors expressed regret and even anger over the decision, Aubry insisted that upgraded security measures such as sharpshooters, riot police and helicopters go against the spirit of the annual event.
France is still in a state of emergency after a spate of terrorist attacks. On July 14, as many as 84 persons were killed in the city of Nice when a heavy duty white truck ploughed into crowds celebrating Bastille Day.