Tuesday, November 20, 2018

Israeli Gas Exports to Egypt Will Initially Flow Through pan-Arab Pipeline - HAARETZ / REUTERS

Nov 20, 2018 4:19 AM
Ora Coren

When exports of Israeli natural gas to Egypt being sometime in the first half of next year, they won’t be going through the EMG pipeline in Sinai but through Israel’s domestic network and then on to the so-called pan-Arab pipeline.

Yossi Abu, chief executive of Delek Drilling, a partner in the two Israeli gas fields that will be selling energy to Egypt, said the EMG pipeline would only be used at a later stage. Later still, he said, gas from Israel’s Tamar and Leviathan fields would be delivered directly to EMG, thereby avoiding the Israeli domestic pipeline network altogether.

Speaking at an energy conference, Abu expressed optimism regarding exports not only to Egypt but to elsewhere in the region. Apart from exports to Egypt, he said the pipeline between Israel and Jordan would begin pumping in May or June next year and be fully operational by the end of 2019, ahead of schedule.

“We’ve succeeded in opening up the Egyptian economy, but that’s just the start,” Abu said. “There’s a lot to do on a regional level and that way become a global player.”

Abu spoke as Ron Adam, a Foreign Ministry official, told the conference that a decision on a Mediterranean gas pipeline linking Israel to Italy via Cyprus and Greece would be made next year after a market survey was completed.

If the survey reveals there is demand from European customers, the projected 2,100-kilometer, 25-billion-shekel ($6.75 billion) pipeline would come on line in 2025. An agreement between all the countries involved is expected to be signed at the end of the month.

Monday, November 19, 2018

Mathios Rigas' presentation at the 16th Israel Business and Energy Convention - ENERGEAN OIL & GAS


TurkStream: Who profits, who loses out? - DW

Nik Martin

As Turkey and Russia inaugurate the sea section of the TurkStream gas pipeline, President Recep Tayyip Erdogan can boast of Ankara's new geopolitical influence. DW asks why the pipeline is causing such a fuss.

Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan on Monday marked the completion of the offshore phase of TurkStream, a natural gas pipeline connecting the two countries.

Erdogan told reporters TurkStream would be ready to operate in 2019 after tests are carried out, while Putin said the pipeline would make Turkey a "major European hub." The tie-up with Moscow would "without a doubt influence the geopolitical standing of the Turkish Republic."

The new energy cooperation comes despite Moscow severing ties with Ankara three years ago after a Turkish fighter jet shot down a Russian warplane on the Syrian border.

Sunday, November 18, 2018

Turkish claims in East Med unveiled in maps - KATHIMERINI

18 NOVEMBER 2018 : 21:16
Angelos Syrigos, Vassilis Nedos

With drilling under way in Cyprus’s exclusive economic zone, Kathimerini has seen seven maps outlining Turkey’s claims in the Eastern Mediterranean, revealing its intentions in the region.

The maps, which have been cited in recent weeks by Turkish Defense Minister Hulusi Akar, suggest that any others in the region considering the demarcation of maritime regions would have to consult with Turkey first.

However, the delineations on the maps only take into consideration Turkey and the mainlands of other countries facing its shores – ignoring the islands in between, such Rhodes, Karpathos and Crete, not to mention Cyprus.

The maps were created between 2010 and 2012, before Cyprus’s demarcation agreements with Egypt in 2003, Lebanon in 2007 and Israel in 2010.

These deals allowed Cyprus to delimit its exclusive economic zone in its southern and southeastern seas. Subsequently, it divided most of its maritime areas into 13 parts and proceeded with international tenders for their exploration and exploitation.

Undersea gas fires Egypt’s regional energy dreams - TIMES OF ISRAEL

NOVEMBER 18, 2018, 11:00 am
Mona Salem

Newly flowing gas from four Mediterranean fields, including the vast Zohr field, as well as deals with Israel and Cyprus, has helped ease Cairo’s financial woes

CAIRO, Egypt (AFP) — Egypt is looking to use its vast, newly tapped undersea gas reserves to establish itself as a key energy exporter and revive its flagging economy.

Encouraged by the discovery of huge natural gas fields in the Mediterranean, Cairo has in recent months signed gas deals with neighboring Israel as well as Cyprus and Greece.

Former oil minister Osama Kamal said Egypt has a “plan to become a regional energy hub.”

In the past year, gas has started flowing from four major fields off Egypt’s Mediterranean coast, including the vast Zohr field, inaugurated with great ceremony by President Abdel-Fattah el-Sissi.

Saturday, November 17, 2018

Geopolitics: How an energy-friendly future will bolster the region - THE JERUSALEM POST

November 17, 2018 00:37
Eytan Halon

National Infrastructure, Energy and Water Minister and security cabinet member Yuval Steinitz has held a wide range of senior ministerial and Knesset committee positions during nearly two decades in Israel’s parliament. Yet overseeing what can only be described as a revolution in Israel’s energy sector since 2015 might prove to be his most memorable task.

Until major discoveries of natural gas off Israel’s coastline in recent years, few would have dreamed of natural resource-poor Israel supplying former adversaries Jordan and Egypt with natural gas valued at $26 billion.

With ambitious plans to construct a 2,000-kilometer pipeline to supply eastern Mediterranean gas to Europe, and with scientific predictions of additional vast natural gas fields still to be discovered in the Levantine Basin, Israel’s unexpected gas boom to date may be only the tip of its national energy iceberg.

Energy supply and dependence, particularly Arab oil, has always had an important impact on diplomatic relations worldwide. Now, for the first time, Israel is enjoying the fruits of its role as an energy supplier, both domestically and abroad.

Speaking to The Jerusalem Post in early November ahead of his appearance at the Post’s Diplomatic Conference on November 21, Steinitz, who worked as a University of Haifa lecturer in philosophy prior to entering politics, spoke not of theorems or logic but of his vision for Israel’s energy future.

Friday, November 16, 2018

Repsol, ELPE nearing finalized deal for new Ionian Sea block - ENERGY PRESS

16 November 2018

EDEY, the Greek Hydrocarbon Management Company, and a consortium comprising Spain’s Repsol and ELPE (Hellenic Petroleum) have completed negotiations for exploration and production rights at a new Ionian Sea block on offer.

The two sides have delivered a draft agreement to the energy ministry. It will also be forwarded to a supervisory committee within the next few days for approval before being signed by all sides involved and submitted to parliament for ratification. The agreement could be finalized by the end of the month, sources informed.

ENERGY: ExxonMobil begins hydrocarbon exploration off Cyprus - FINANCIAL MIRROR

16 November, 2018

US giant ExxonMobil has begun exploration for oil and gas in block 10 of Cyprus’ Exclusive Economic Zone (EEZ), Energy Minister George Lakkotrypis said on Friday.

Lakkotrypis confirmed test drilling has started offshore Cyprus following a meeting with US Assistant Secretary of State for Energy Resources Francis Fannon in Nicosia.

Fannon is on a regional tour – that includes Israel and Egypt - to meet officials and private sector representatives to discuss energy security and regional cooperation on energy issues.

“His trip will highlight the economic opportunities in the energy sector for Eastern Mediterranean gas development and related exports and encourage discussions on how countries can harness this potential for increased regional stability and economic growth,” the State Department said.

Lakkotrypis said he discussed Cyprus-US energy cooperation, East Med hydrocarbons potential and the strategic significance of US companies active in the Cypriot EEZ.

Thursday, November 15, 2018

Egypt pays Dana Gas USD 111 mn in arrears in 9M2018 - ENTERPRISE

Thursday, 15 November 2018

Egypt paid Dana Gas USD 111 mn in arrears owed in its Financial Results For 9M & Q3 2018, the company said in its earnings release on Wednesday

The story comes as Egypt has been stepping up payments to international oil companies (IOCs), with arrears to oil producers have fallen to their lowest levels yet, coming in at USD 1.2 bn at the end of FY2017-18. 

The company noted that its production output in Egypt fell to 34,500 boepd in 9M2018, from 39,600 boepd in 9M2017.

The Company's 9M 2018 revenue increased 6% to $351 million (AED1,287 mm) from $330 million (AED1,210 mm) over the same period last year. Correspondingly, Q3 2018 revenue increased 6% to $115 million (AED422 mm) from $108 million (AED396 mm). The increase in revenue, driven by higher realised hydrocarbon prices, helped offset production decreases in Egypt and the UAE.

Wednesday, November 14, 2018

US State Department backs Cyprus’s right to drill in EEZ - KATHIMERINI / KNEWS

WEDNESDAY NOVEMBER 14, 2018 - 08:42

Hours after Turkish President Recep Tayyip Erdogan urged all parties engaging in gas exploration activities in the Eastern Mediterranean not to pressure it over Ankara’s own energy plans in the region, the US State Department said Washington “discourages any actions or rhetoric that increase tensions in the region.”

“The US policy on Cyprus’s exclusive economic zone is longstanding and has not changed: the United States recognizes the right of the Republic of Cyprus to develop its resources in its EEZ,” a spokesperson said in response to a question by the Hellas Journal website.

In what was seen as a warning aimed at Greece, Cyprus and the US, Erdogan was quoted as saying on Tuesday, “we tell our friends: Don’t push us, don’t press us.”

Exxon expected to start drilling by week’s end - CYPRUS MAIL

TEKMOR Note: Welcome, USA!
November 14, 2018
Evie Andreou

The Stena Icemax drillship leased by ExxonMobil, is expected to begin drilling in Cyprus’ offshore block 10 by the end of the week, it was reported on Wednesday.

The drillship arrived on location in block 10 on Sunday and is preparing to begin drilling in the site dubbed by Exxon as ‘Delphine’ after the Greek mythology dolphin-shaped sea daemon that was in the service of god Poseidon.

Cyprus News Agency (CNA), said, citing sources, that at the moment the exact time of when the drilling will start cannot be determined due to technical and environmental factors.

The same is true for the duration of the drilling, which is expected to last around two months. Progress, sources told CNA, will depend on the speed of winds, pressure as well as hard rock that can be found during drilling.

The drilling rig will descend about two kilometres to the bottom and about two to three km further.

Tuesday, November 13, 2018

Israel looks to new Arab allies to export gas in volatile region - FINANCIAL TIMES

Jerusalem, 13 November 2018
Mehul Srivastava 

Netanyahu seizes on natural gas to turn Egypt and Jordan into economic partners

When Yuval Steinitz was doing his military service in the Israeli army, Egypt was an enemy and Israel lived in fear of having its oil supplies choked off by Arab rivals. But in recent years, as Israel’s energy minister, Mr Steinitz, 56, found himself in hush-hush meetings with Egyptian officials.

On the agenda: Israel’s gas conundrum. Since the late 1990s, it has discovered huge natural gas reserves off its coast. The initial finds allowed the tiny nation to wean itself off some energy imports, but additional discoveries — which could fuel Israel for 50 years, according to some estimates — have unlocked the potential for exports. “This was unthinkable just a decade or two ago,” Mr Steinitz told the Financial Times.

His problem is getting the gas out of an often hostile neighbourhood. Israel’s long-term goal is to fuel energy-hungry nations in Europe. But in the meantime Mr Steinitz has helped smooth a lucrative place holder agreement with Egypt — which has had a peace treaty with Israel since 1979.

Monday, November 12, 2018

Shell processing 300 mcf/d of gas at Idku liquefaction plant -sources - ENTERPRISE

Monday, 12 November 2018

Royal Dutch Shell’s Idku liquefaction plant is reportedly processing 300 mcf/d of natural gas, compared to 250 mcf/d last month, sources close to the matter said yesterday. 

Natural gas earmarked for exports also increased by around 50 mcf/d due to lower local consumption levels during winter. 

Shell and the Oil Ministry had agreed back in 2016 to gradually ramp up production at the Idku LNG plant.

Eni sells to Mubadala Petroleum a 20% stake in the Nour North Sinai Offshore concession in Egypt - ENI

Abu Dhabi (UAE), 12 November 2018

Eni further strengthens its ties with Mubadala Petroleum, building on the successful partnership in the Shorouk concession. The Chief Executive Officer of Petroleum & Petrochemicals, Mubadala Investment Company, and Chairman of Mubadala Petroleum, Musabbeh Al Kaabi, and the Chief Executive Officer of Eni, Claudio Descalzi, signed an agreement today for the sale of a 20% participating interest, out of Eni’s share, in the Nour North Sinai Offshore concession, in Egypt, to Mubadala Petroleum, a wholly owned subsidiary of Mubadala Investment Company.

BP to Invest $1.8B in Egypt - EGYPT OIL & GAS

Monday, 12th November 2018

BP will invest $1.8 billion in Egypt next year, according to BP’s chief executive Bob Dudley, The National reported.

“We’ve spent in the last two years $6.8bn in Egypt and it will be about $1.8bn dollars next year,” Dudley told The National in an interview in Abu Dhabi.

BP’s regional president of North Africa, Hesham Mekkawy, previously said that the company will invest $2 billion in Egypt during 2019.

BP’s latest spending plans are a substantial decrease from the $4 billion invested in Egypt in 2017.

Dudley also confirmed that the company will be investing significantly in Abu Dhabi, promising $1 billon each year. The company has already discussed investing in the Ruwais downstream facility with the Abu Dhabi National Oil Company (ADNOC). The Emirate is planning to invest $45 billion in the facility over the next five years in collaboration with international partners.

“We’ve reviewed and we’re part of the process with Ruwais. That’s yet to be decided”, Dudley said.

Sunday, November 11, 2018

Oil Ministry expects USD 10 bn in new oil and gas investment during current fiscal year - ENTERPRISE

Sunday, 11 November 2018

INVESTMENT WATCH- Oil Ministry expects USD 10 bn in new oil and gas investment during current fiscal year. 

Oil Minister Tarek El Molla said on Saturday that his ministry expects some USD 10 bn in new investment in the sector in 2018-19. The figure includes both funding for both exploration and production activities. 

The minister said high appetite among international oil companies (IOCs) for Egyptian opportunities underscores their confidence in Egypt’s improved investment climate. 

The minister expects IOCs to bid in an upcoming sale of exploration blocks in the Red Sea region, saying it would be the first time blocks would be on offer in that region.

Saturday, November 10, 2018

Factbox: Greece’s territorial waters and Turkey - KATHIMERINI

10.11.2018 : 17:35
Angelos Syrigos

Following his resignation from the post of foreign minister, Nikos Kotzias said that Greece was ready to extend its territorial waters in the Ionian Sea to 12 nautical miles. This came as surprise to Greece’s political parties and drew a strong reaction from Turkey, which claimed that any extension of Greece’s territorial waters in the Aegean would be considered a casus belli. Here I would like to examine some of the most important questions related to a possible extension of Greek territorial waters.

What are territorial waters?

Territorial waters (also known as territorial sea) are a belt of sea adjacent to the shores of a state. This zone includes the water column, seabed below and airspace above it. States have full sovereignty in this area. The only restriction to this sovereignty is the right of innocent passage enjoyed by all ships without prior notification of the coastal state. Since the 1970s, all coastal states in the world (except Greece) have expanded their territorial waters to 12 nautical miles. This customary rule is stipulated by the 1982 United Nations Convention on the Law of the Sea.

Cyprus issues navtex for ‘Delphini’ target as Exxon’s drill ship set to arrive - CYPRUS MAIL

NOVEMBER 10, 2018 

THE Cyprus government issued a navigational telex (navtex) notification to seafarers on Saturday ahead of the arrival next week of Stena IceMax, a drilling ship commissioned by Exxon Mobil to explore for hydrocarbons in block 10 of Cyprus’ exclusive economic zone.

The drillship is expected to arrive within the next two days in the port of Limassol, with the competent authorities issuing the navtex marine advisory valid until February 25 for the target “Delphini”.

“The drilling rig is expected to arrive within the timeframe set, according to schedule, tomorrow or the day after,” a source told the Cyprus News Agency. According to the same source, “everything proceeds smoothly, according to plan.”

The navtex 376/18 issued by Cyprus at 6.00 am local time (4.00 am GMT), informs mariners about the drilling operations of Stena IceMax at the “Delphini” target. Drilling operations are expected to commence on November 15.

U.S. Assistant Secretary of State for Energy Resources Francis R. Fannon to visit Israel and Egypt - JERUSALEM POST

An Israeli gas platform is seen in the Mediterranean sea,
some 15 miles west of Ashdod (photo credit AMIR COHEN/ REUTERS)
NOVEMBER 10, 2018 07:38
Hagay Hacohen

US Assistant Secretary of State for Energy Resources Francis R. Fannon will travel to Israel and Egypt, arriving on Sunday and departing on November 20, the US State Department Spokesperson announced Saturday.

Fannon is scheduled to meet government officials and representatives from the private sector to discuss regional cooperation and energy security.

In September, Houston-based Noble Energy Inc., together with Israeli gas operator Delek Drilling and Egyptian partner East Gas, have reached agreements worth approximately $518 million to support the delivery of natural gas from the Leviathan and Tamar gas fields to Egypt.

The agreements represent a significant step toward fulfilling a $15 billion decade-long deal signed in February which will see Noble Energy and Delek Drilling supply 64 billion cubic meters of natural gas to Egypt from the gas fields, located off Israel.

ExxonMobil Could Be In For A Naval Battle - FORBES

Nov 10, 2018, 12:43pm
Antonis Antoniou

As the Stena IceMax — the drillship that will conduct offshore explorations in Cyprus’ Exclusive Economic Zone (EEZ) on behalf of ExxonMobilXOM -0.02% — approaches its target, anxiety is mounting as to how Turkey will react.

Over the last couple of years, Cyprus has granted specialized companies drilling rights to explore its EEZ, in the hopes of discovering hydrocarbons and, more specifically, natural gas and petroleum. Some of the biggest exploration companies in the world — such as Italy’s ENI, Korea’s KOGAS, France’s Total , and even the U.S.’ Noble Energy NBL -1.41% — expressed interest in this pursuit and received licenses.

Now, ExxonMobil is expected to begin drilling in Block 10 of Cyprus’ EEZ in the coming weeks and Turkey has already warned that it will react to such an action.

Turkey invaded Cyprus in 1974, still illegally holds 36% of the country’s landmass (Note: after chasing away the area's 90% majority Christian population & colonizing it since with Anatolian Muslim settlers) and doesn’t recognize its EEZ, even laying claim to parts of it. Turkey claims that parts of Blocks 1, 4, 6 and 7 fall within its own EEZ and that the Turkish Cypriot community can rightfully claim any possible discoveries within Blocks 1, 2, 3, 8, 9, 12 and 13. Though Block 10 does not fall within one of the aforementioned areas, Turkey has nevertheless warned that it will “react” to any kind of exploration activity.

Thursday, November 8, 2018

East Med pipeline ‘sustainable and competitive’ - IBNA

08-NOV-2018, 09:20
Nefeli Tzanetakou

The implementation of the East Med pipeline project appears to be progressing with the support of Washington, at a crucial time in terms of safeguarding balances in the Eastern Mediterranean.

According to the Cyprus News Agency, the fact that the talks between the Foreign Minister of the Republic of Cyprus, Nikos Christodoulides and US Secretary of State Francis Fannon in Washington focused on Eastern Mediterranean energy prospects demonstrates and confirms the lively interest of the US in developments in the wider region.

As IBNA exclusively revealed, the advantages offered by the strategically important East Med pipeline and the presence of US firm Exxon Mobil in Cyprus’ Exclusive Economic Zone are the reasons Washington wants to participate in the next summit between Greece, Cyprus and Israel.

ExxonMobil to expand oil and gas activities in Egypt - ENTERPRISE

Thursday, 8 November 2018

ExxonMobil is looking to shore up its oil and gas activities in Egypt, company President Bryan Milton said during a meeting with Oil Minister Tarek El Molla, according to an Oil Ministry statement (pdf) (Arabic)

No further details were provided, but the company said earlier this year it is planning to invest 60 mn in Egypt and is particularly interested in opportunities in the gas-rich East Mediterranean.

Wednesday, November 7, 2018

US and Cyprus sign deal on security cooperation - KATHIMERINI

07.NOV.2018 : 11:04

Cyprus and the United States have agreed to enhance bilateral cooperation in the area of security, according to a statement by the Cyprus Foreign Ministry, which said that the two sides have signed a Statement of Intent on security issues.

The agreement refers to issues relating to combating terrorism, strengthening security at sea and borders and promoting regional stability.

This comes as Cyprus Foreign Minister Nikos Christodoulides visited Washington for a meeting with US Secretary of State Mike Pompeo on Tuesday (

Christodoulides also met with Assistant Secretary of State for European and Eurasian Affairs Wess Mitchell and Assistant Secretary of State for Energy Resources Francis Fannon.

In statements after the meetings at the State Department, Christodoulides said the discussions with the two officials concentrated on three issues.

“First, our bilateral relations and the mutual desire to strengthen bilateral relations at all levels. The statement of intent was signed within this framework, as it sets the outline of cooperation and how we should proceed next,” the minister said.

Jumbo Offshore wins contract from TechnipFMC for Leviathan field - OFFSHORE TECHNOLOGY


Jumbo Offshore has secured a contract from TechnipFMC to deliver transportation and installation services at the Leviathan development, located in the eastern Mediterranean region offshore Israel.

TechnipFMC is working on a project that comprises a subsea production system connecting subsea wells to a fixed platform located 10km off the coast of Israel.

Under the terms of the contract, Jumbo is responsible for lowering a 410t subsea production manifold onto the seabed at a water depth of 1643m.

The company is also required to install various other subsea isolation valves (SSIVs) and valve skids at a water depth of 86m.

“Jumbo will appoint one of her offshore heavy-lift crane vessels (HLCVs) to complete this project in early 2019.”

The scope of the contract also includes transportation of various equipment from the US Gulf Coast to Eastern Mediterranean.

Monday, November 5, 2018

Israel to offer 19 blocks for oil & gas exploration in second offshore bid round - OFFSHORE ENERGY TODAY

5 November 2018

Israel will offer 19 offshore blocks as part of its second offshore bid round to grant exploration licenses for natural gas and oil in Israel’s economic waters in the Eastern Mediterranean.

The upcoming bid round is pursuant to an earlier round which began two years ago and granted six licenses. Some of these are expected to start drilling in the upcoming months, Israel’s Ministry of Energy said on Sunday.

Israel’s Energy Minister, Dr. Yuval Steinitz, said: “It is my pleasure to announce the launch of our new bid round for exploration and production of natural gas reservoirs in the East Mediterranean. This bid is intended to continue the development of the natural gas market in Israel, increase competition by the entry of new international energy companies and broaden Israel’s energy security. These efforts correlate with the progress of the subsea pipeline between Israel and Europe, which will allow us to export the gas to Greece, Italy and the rest of Europe.”

Sunday, November 4, 2018

Israel announces new oil and gas exploration round in eastern Mediterranean - REUTERS

NOVEMBER 4, 2018 / 4:32 PMReporting by Ari Rabinovitch; Editing by Mark Heinrich

JERUSALEM (Reuters) - Israel will tender off 19 new offshore blocks to oil and gas companies, its energy ministry said on Sunday, hoping to rebound from a disappointing bidding round a year ago.
Israel discovered in 2009 that it had large reserves of natural gas off its Mediterranean coast.

It will publish details of the tender by the end of the month and, about half a year later, choose the winning companies, said Udi Adiri, the ministry’s director general.

Last year’s auction elicited bids from only two groups of companies, and the ministry said it expects more to compete this time as conditions have improved.

In 2017 the energy market was weaker and companies in general were investing less. There was also concern over where to sell any newfound gas, since Israel is a small market.

Saturday, November 3, 2018

Tsipras-Netanyahu talks focus on EastMed pipeline - KATHIMERINI

03.11.2018 : 12:19
Stavros Papantoniou

PHOTO: (L-R) Bulgarian Prime Minister Boyko Borissov, Serbian President Alexander Vucic, Greece's Prime Minister Alexis Tsipras, Romanian Prime Minister Viorica Dancila, and Israeli Prime Minister Benjamin Netanyahu pose for a picture after a press briefing during the Quadrilateral Summit Greece-Bulgaria-Romania-Serbia at Evsinograd Palace in Varna, Friday.

The “large geopolitical significance” of the EastMed pipeline, which will transfer natural gas from the Eastern Mediterranean to Europe, was stressed by Prime Minister Alexis Tsipras during his meeting with Israeli Prime Minister Benjamin Netanyahu in the Bulgarian seaside resort of Varna on Friday.

Tsipras, who met the Israeli premier on the sidelines of a Balkan summit of Greek, Bulgarian, Romanian and Serbian leaders, said the project is of “financial and geopolitical high value.”

At the same time, Tsipras and Netanyahu also discussed the upgrade of the northern Greek port city of Thessaloniki into a Balkan hub of innovation with the participation of Israeli businesses which are already active there.

Tsipras also referred to the benefits to Southeastern Europe that will come from the Interconnector Greece-Bulgaria (IGB) natural gas pipeline, which will link Alexandroupoli to Bulgaria. In addition he spoke about other road and rail projects that will link countries in the Balkan region.

Friday, November 2, 2018

Cyprus urges Turkey to cooperate on energy, but peace first - THE WASHINGTON POST /ASSOCIATED PRESS

President Anastasiades, Republic of Cyprus
November 2, 2018
Menelaos Hadjicostis 

NICOSIA, Cyprus — Cyprus is ready to work with Turkey on exploiting the east Mediterranean’s potential oil and gas wealth, as long as the ethnically split island nation is reunified, the country’s president said Friday.

Big gas reserves have been found around Cyprus and the country, which is a member of the European Union, is already working with Egypt and Israel. Turkey says it’s entitled to its share of any potential gas reserves and has launched a search of its own. But Nicos Anastasiades insisted that the prerequisite for joining this regional energy cooperation will have to be the reunification of Cyprus, which has been split since 1974

Note: Formerly a 90% Christian area, the occupied northern part of Cyprus now comprises 100% of illegal Muslim Turkish settlers and the Turkish Cypriot minority; the colonization continues unabated.

“We continue to upgrade our energy cooperation with countries in the eastern Mediterranean and in Europe and certainly, I underscore this, with Turkey in the event of a Cyprus settlement,” Anastasiades told a conference Friday.

Thursday, November 1, 2018

Exxon Mobil drillship arrives in Limassol on November 12 - KNEWS / KATHIMERINI

01 NOVEMBER 2018 - 13:30

Preparations are underway for Exxon Mobil’s drilling at Block 10 in the Cypriot exclusive economic zone south of the island.

Already, four support vessels are awaiting for the drillship in Limassol port.

The drillship called Stena IceMAX is, according to Aberdeen based Stena Drilling, the world’s first dynamically positioned, dual mast ice-class drillship with a length of 228 meters. The Stena IceMAX is a harsh environment DP Class 3 drillship capable of drilling in water depths up to 3000 meters. The vessel operates under UK flag.

Its arrival is expected next Monday, November 12. The target is a location named ''Delphini’’ in Block 10.

Wednesday, October 31, 2018

Greece's Gastrade launches market test for Alexandroupoli LNG terminal - KATHIMERINI

WEDNESDAY OCTOBER 31, 2018, 10:41

Greek natural gas company Gastrade on Tuesday launched a market test for a liquified natural gas terminal it is developing in northern Greece.

Companies interested in seeking services and capacity in the terminal must submit non-binding expressions of interest within 45 days, it said.

Greece currently has one LNG terminal on an islet off Athens. Gastrade, part of Greek energy group Copelouzos, is planning Greece’s second LNG terminal near the northern city of Alexandroupoli.

The facility, with an estimated annual capacity of 6.1 billion cubic metres (bcm), will seek to supply gas to southeastern Europe via another natural gas pipeline scheme that will cross through Greece, the Interconnector Greece-Bulgaria (IGB).

The IGB and the LNG terminal would then fit with the Trans-Adriatic Pipeline (TAP), which has been under construction to transport Caspian gas to European markets.

Turkey begins oil and gas search that could stoke tensions - ABC NEWS /ASSOCIATED PRESS

ANTALYA, Turkey — Oct 31, 2018, 11:16 AM ET

Turkey embarked on a search for oil and gas in the east Mediterranean on Wednesday in a move that could stoke regional tensions, with the country warning it would thwart "unilateral, illegitimate and unfair" actions against its interests.

The drillship 'Conquerer' — named after Ottoman Sultan Mehmet, who conquered Constantinople — began exploratory drilling off Antalya, on Turkey's southern coast.

The country is asserting itself in the east Mediterranean to signal that it won't be left out of a potential offshore gas bonanza as neighboring Cyprus is poised to renew exploratory drilling off its southern shores. ExxonMobil is scheduled to start drilling in one of 13 blocks inside Cyprus' [declared] exclusive economic zone by year's end.

Turkey doesn't recognize Cyprus as a state and opposes its gas search, which it says infringes on its rights to oil and gas reserves and ignores the rights of breakaway Turkish Cypriots to the ethnically split island's natural resources. Turkey also says that its continental shelf overlaps part of Cyprus' exclusive economic zone.

Tuesday, October 30, 2018

Greece’s Energean on track for Israeli field development in Q1 2021 - NEW EUROPE

OCTOBER 30, 2018,14:30

Greece’s independent oil and gas exploration and production company Energean Oil and Gas announced on October 29 the first day of dealings of the Group’s shares on its secondary listing on the Tel Aviv Stock Exchange (TASE).

Energean is the first London listed, international oil and gas operator to list its shares on the TASE, the company said.

According to the company, delivery of the Karish and Tanin gas development, offshore Israel, remains on track for first gas in the first quarter of 2021. The fields would provide energy security and supplying gas to the Israeli domestic market, Energean said, adding that first steel cut for Energean’s floating production storage and offloading (FPSO), the only FPSO in the East Mediterranean, is scheduled for November 26, 2018.

Monday, October 29, 2018

Egypt to become energy center in Eastern Mediterranean: Min. - EGYPT TODAY

Mon, Oct. 29, 2018

CAIRO – Egypt is working to become a regional center for trading energy in the Eastern Mediterranean region during the upcoming period through the exploitation of its strong infrastructure, Minister of Petroleum Tarek el-Molla said.

El-Molla announced Egypt's readiness to cooperate with other countries in the region to receive gas, and then liquefy it and to re-export to Europe.

This came during Molla’s participation at the third Euro-Arab Summit under the theme "Horizons of Partnership" representing President Abdel Fatah al-Sisi, in the Greek capital Athens, which started today and lasts for two days.

The minister pointed out that despite the natural and human resources of the Arab region, the optimal use of these resources has not yet been achieved, which clearly demonstrates great disparity in the trade balance between Arab countries and the European Union.

Energean Oil & Gas starts trading in Tel Aviv after secondary listing - PROACTIVE INVESTORS

29 Oct 2018, 08:18 

Israel-focused Energean Oil & Gas PLC (LON:ENOG) has started trading on the Tel Aviv exchange through a secondary listing.

Energean raised £330mln when it floated on London’s main market in March and will maintain this as its primary listing, but said the Tel Aviv quote will broaden the shareholder base.

No new shares were issued in connection with the Tel Aviv listing but Energean expects its shares to be included within the TA-90 Index, which comprises the 36 - 125th most highly capitalised companies listed in Tel Aviv.

Shares will be fully transferable and interchangeable between the two stock markets.

Sunday, October 28, 2018

Cyprus proceeds with its energy plans, Energy Minister says - CYPRUS NEWS AGENCY

CYPRUS/Nicosia 28/10/2018 14:00 

The Republic of Cyprus will proceed with its energy plans, exactly as foreseen, Minister of Energy Yiorgos Lakkotrypis has said. 

Asked if the Republic of Cyprus has taken any steps to address Turkish provocations in Cyprus` Exclusive Economic Zone, he said that the necessary measures have been taken in cooperation with the companies that have drilling licenses and the countries they come from.

The Republic of Cyprus will continue implementing its energy plans, exactly as foreseen, he concluded.

Saturday, October 27, 2018

Greece builds pipeline to transport natural gas from Caspian Sea - AL JAZEERA

27 October 2018
John Psaropoulos 

Greece is known for its history and climate, but not for oil and gas.

That may be about to change with a new pipeline (a 
five billion-dollar project) being completed across the north of the country that will transport natural gas from the Caspian Sea to Western Europe.

It's part of a European Union policy to move away from dependence on Russian gas after shipments were stopped for two weeks during the 2009 Ukraine crisis, causing shortages in southeastern Europe.

Friday, October 26, 2018

Eni flags likelihood of buyback next year as profits soar - REUTERS

OCTOBER 26, 2018 / 9:20 AM
Stephen Jewkes

MILAN (Reuters) - Italian oil major Eni (ENI.MI) flagged on Friday the likelihood of a share buyback next year after cash flow in the third quarter jumped and profits rose six-fold to beat expectations.

In a conference call with analysts, finance chief Massimo Mondazzi said a buyback was a priority, providing market conditions remained stable.

Over the last year the world’s top oil and gas companies have come under growing pressure to return more cash to shareholders as profits and oil prices get back on track after a three-year crunch.

“The trajectory is positive ... our aspiration is for a progressive dividend with a buyback, on condition our leverage stays below 20 percent,” Mondazzi said.

CYPRUS: Greece and Turkey fire warning shots over East Med energy plans - FINANCIAL MIRROR

EEZ delineation as per UNCLOS
26 October, 2018

A war of words between Athens and Ankara over East Med energy plans and territorial waters intensified on Friday when Turkey responded defiantly to a rebuke from Greece.

Continuing the row with with Greece over energy exploration in the eastern Mediterranean, Turkey on Friday said it would “continue to act in line with the equitable principles and all relevant special circumstances” in delimiting maritime jurisdiction.

“On the delimitation of maritime jurisdiction areas, Turkey will, as it has to date, continue to act in line with the equitable principles and all relevant special circumstances,” Foreign Ministry spokesman Hami Aksoy said.

He was responding to a Greek Foreign Ministry statement saying it would not be dictated to by Turkey on what it decides to do.

“There is no advice that we would take from Greece over the delimitation techniques within the framework of international law,” Aksoy added.

Egypt to offer new production model to foreign oil and gas firms - INDIA TIMES / REUTERS

REUTERS | October 26, 2018, 15:57 IST

CAIRO: Egypt is working on a new production sharing model with foreign energy companies to encourage oil and gas exploration in deep waters, Petroleum Minister Tarek El Molla said on Thursday.

"We are thinking of having... a simpler way of having the calculations with our partners," Molla said during a US business meeting in Cairo.

"So far the feedback that we received from different partners is very positive and they are enthusiastic to participate in the bid round on this basis," he said.

Under the new model, companies will be offered a share of production in exchange for bearing the costs of exploration and production.

"It will be all together and one figure that includes cost recovery and the profit share of the partner, so we don't go towards what we call cost recovery audits, which sometimes take effort, (create) arguments between different departments and,...for new frontier areas, it wouldn't be encouraging."

Molla said that bigger oil companies wanted the new model especially for risky deepwater frontier areas in the Red Sea and the Mediterranean near the Libyan border that are coming up in the next two bid rounds.

Thursday, October 25, 2018

TransGlobe Spuds on South Ghazalat - PETROLEUM AFRICA

Thursday, October 25, 2018

TransGlobe Energy spud its SGZ 6X well on the South Ghazalat concession in Egypt’s Western Desert. The well, the second exploration well in the concession, was spud on October 23.

The SGZ 6X is located on the eastern portion of the concession offsetting the Raml oil field in the Abu Gharadig basin. The SGZ 6X prospect is targeting stacked Cretaceous oil targets similar to the producing Raml and SW Raml fields.

On TransGlobe’s South Alamein concession, also in the Western Desert, the company received notification from the military that access will be granted to drill the South Alamein 24X (SA 24X) Jurassic exploration prospect. It has submitted the required documentation and is awaiting final written approval which is expected prior to year-end. Concurrently, the company initiated preparations to drill SA 24X as part of the 2019 exploration program.

Wednesday, October 24, 2018

Egypt’s Enppi and Petrojet complete 60% of Jordan natgas network expansion - ENTERPRISE

Wednesday, 24 October 2018

State energy companies Enppi and Petrojet have completed 60% of a project to expand the natural gas network in Jordan, Oil Minister Tarek El Molla said, according to Ahram Online. The two companies are expected to inaugurate the project in October 2019. 

We had previously noted that Enppi and EGAS are building a 17 km steel pipeline for the Jordanian-Egyptian Fajr for Natural Gas Transport and Supply Company that should be complete by 2020, but it remains unclear whether this is the project Molla was referring to.

Tuesday, October 23, 2018

Significant Gains at Abu-Attifel Field - PETROLEUM AFRICA

Tuesday, October 23, 2018

Libya’s NOC reported that Mellitah Oil & Gas (MOG) has made “significant gains” at the Abu-Attifel oilfield. These gains come despite the security issues and logistical constraints the company faces at the oilfield.

MOG completed operating tests for a TC5 Solar Gas Turbine on October 13. This equipment is part of an impactful low-pressure flare project increasing low-pressure well gas production which then transfers to a LNG plant. The project has succeeded in increasing condensate quantities by 2,000 bpd to 9,500 bpd and reduced the proportion of ‘off-gas’ flaring to zero.

The National Drilling and Well Maintenance Company, owned by NOC, also helped MOG complete the maintenance of well No 56, restoring it to the production of 4,800 bpd of oil and approximately 9 Mmcf/d. The maintenance of well No A49 is expected to complete before the end of the year, thereby raising production by a further 1,000 bpd.

Israel Plans to Export Too Much Natural Gas, Leading Geologist Says - HAARETZ

Oct 23, 2018 6:54 PM
Eran Azran

Yossi Langotsky, the geologist who predicted the discovery of Israel’s major natural gas reserves, has criticized his country’s plans to export nearly half its gas discovered to date.

“There are no more chances of finding major gas reserves in Israel,” he told TheMarker in response to comments by government officials that Israel could export current volumes and simply find more.

Langotsky was also responding to remarks by a senior researcher for the Institute for National Security Studies, Oded Eran, who told TheMarker last week that exporting gas to Egypt was important for Israel’s energy economy as well as its geopolitical and security interests.

Eran said Israel was unlikely to be able to export gas to Turkey or Europe, thus Egypt was the only real option aside from the local market.

“The export deals with Egypt are shortsighted and irresponsible — Israel has some 1 trillion cubic meters of gas,” Langotsky said, noting that the Tzemach committee charged with charting Israel’s natural gas economy in 2012 called for exporting a bit under half the 1 trillion.

Monday, October 22, 2018

Blue Water Energy LLP to partner with Apex International Energy - BLUE WATER ENERGY LLP

Houston, 22 October 2018

Apex International Energy, an independent oil and gas exploration and production company focused on Egypt and other Middle Eastern and North African countries (“MENA”), today announced that affiliates of Blue Water Energy LLP (BWE or Blue Water Energy) have agreed to partner with Apex and join the existing investors: Warburg Pincus LLC, International Finance Corporation (IFC) and company management.

Apex is primarily focused on pursuing acquisitions and drilling opportunities in MENA, with an initial focus on Egypt. The Company will continue to acquire assets and licenses, whilst driving value creation through the execution of production optimization opportunities, developments and exploration opportunities of scale. Blue Water Energy, Warburg Pincus LLC and the IFC are jointly providing funding to support Apex’s investment program, including drilling, asset acquisitions and corporate transactions.