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As fields age, they generate higher water to oil ratios. In some mature fields, 10 barrels of water are generated for every barrel of oil produced. However, it is becoming a problem in some onshore fields. This could force operators to stop production in previously profitable fields.
Stricter Environmental Regulations Government bodies like the Environmental Protection Agency (EPA) and the Texas Commission on Environmental Quality (TCEQ) continue to tighten regulations on emissions. The industry is no longer dealing exclusively with conventional natural gas from well-established fields.
Regarding exports, Gulf Keystone continues to engage with government stakeholders to resume oil exports through the Iraq-Türkiye Pipeline (ITP). While we have seen no material impact on Shaikan Field operations to date, we are closely monitoring the developing conflict between Israel and Iran. IQD 130 billion] in cash as of 19 June.
Libya has resumed production at the Mabruk oilfield after a decade-long shutdown, the Tripoli-based Government of National Unity (GNU) revealed on Wednesday. Production officially restarted on Sunday at an initial rate of 5,000 barrels per day, with plans for an increase to 25,000 bpd by July. mb/d currently to 2 mb/d in 2028.
bbl, with prices stabilising in a range of c.$27-$28/bbl 27-$28/bbl in H2 2024 2025 year to date (to 18 March 2025) gross average production of c.46,400 million in 2024 (2023: $50.1 million (2023: $123.5m) as the increase in 2024 volumes more than offset the 34% decline in average realised price to $26.8/bbl bbl (2023: $40.9/bbl) bbl (2023: $5.6/bbl),
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