REGIONAL REPORT MENA Leading producers plan to increase output,replace reserves

摘要

Activity in this region,stretching from western Asia to northwestern Africa,remains at a fairly high level.Indeed,our mid-year forecast in last month’s issue shows that the Middle Eastern region’s drilling should be up 6.5% this year.Likewise,the four main countries making up North African activity-Algeria,Egypt,Libya and Tunisia-are predicted to see their drilling rise 9.3%.Similarly,Middle Eastern oil production has remained level over the last year,held backfrom an increase mostly by a 4.9% reduction in Iranian output.And North African output rose 3.8% last year,to more than 2.95 MMbopd.Much of the increases in both drilling and production can be traced to two things: l)a renewed focus on reserve replacement by some countries; and 2)a deliberate plan by other countries to increase productive capacity beyond routine reserve replacement.