Sunday, June 17, 2018

Attack shuts major Libyan oil ports, slashing production - INDIA TIMES / REUTERS

REUTERS | June 15, 2018, 07:45 IST

The major Libyan oil ports of Ras Lanuf and Es Sider were closed and evacuated on Thursday after armed brigades opposed to the powerful eastern commander Khalifa Haftar stormed them, causing a production loss of 240,000 barrels per day (bpd).
At least one storage tank at Ras Lanuf terminal was set alight following the early morning attack, an engineer told Reuters. Libya's National Oil Corporation (NOC) declared force majeure on loadings from both terminals.

The clashes between forces loyal to Haftar's Libyan National Army (LNA) and rival armed groups continued throughout the day south of Ras Lanuf, where the LNA was targeting its opponents with air strikes, local sources said.

Military sources said the LNA had withdrawn from both ports.

SDX announces spud of SRM-3 oil well in Egypt - OIL REVIEW MIDDLE EAST

Sunday, 17 June 2018 06:39

SDX Energy Inc, the North Africa-focused oil and gas firm, has announced to spud its SRM-3 appraisal well at South Ramadan, Egypt, where SDX has a 12.75 per cent working interest

The SRM-3 well is the last remaining commitment well on the South Ramadan concession. The well is anticipated to take up to 90 days to drill and complete. Based upon the results of this well SDX will decide how to optimise its position in the licence.

London-headquartered SDX is a continual player in North Africa’s oil and gas sector. In May 2018, the company achieved positive results of the well test conducted on the Ibn Yunus 1X well, following the conventional natural gas discovery at South Disouq, Egypt.

Apart from Egypt, SDX has a significant presence in Morocco’s oil and gas sector as well. It made a conventional natural gas discovery at the LMS-1 exploration well on the Lalla Mimouna permit in Morocco, where the company has 75 per cent stake.

Referring to oil and gas activities in North African nations, Paul Welch, president and CEO of SDX, said that the company remain optimistic about further positive news flow as we move towards delivering the first gas from the licence before the end of 2018.

In 2017, the company was awarded gas discovery at KSR-14 and KSR-15 well on the Sebou area in Morocco. In 2016, SDX Energy and Dana Petroleum commenced drilling operations on its high-impact exploration well on Bakassi West in Cameroon, Central Africa’s major oil and gas project.

Friday, June 15, 2018

Egypt's Zohr gas field to hit 1.75 bln cubic meters daily by August - XINHUA

2018-JUNE-15 01:08:05

CAIRO -- Egypt's Petroleum Minister Tarek al-Molla said on Thursday the production at the offshore Zohr Field will hit 1.75 billion cubic meters of gas daily by August.

In a press statement the minister added the production will be gradually increased further by the end of the year.

"The third unit of the gases treatment station in Zohr Field was operated ten days ahead of schedule," he added stressing the importance of overcoming any difficulties facing the implementation of the project.

On May 30, al-Molla said that the field is expected to produce 2 billion cubic feet of gas per day (bcf/d) by the end of 2018 which was the double of the previously expected production.

The Zohr Field, the largest natural gas discovery ever made in the Mediterranean, is located off Egypt's northern coast within the Shorouk block, some 190 km north of the Suez Canal city of Port Said.

Field production is expected to rise to 2.7 bcf/d by the end of 2019, transforming Egypt into a regional power hub.

Thursday, June 14, 2018

Israel, Egypt Gas Cos Near Deal to Control EMG Pipeline - BLOOMBERG

June 14, 2018, 5:40 PM GMT+3Mirette Magdy and Yaacov Benmeleh
  • Delek, Noble, Egyptian partner said in talks to buy 37% stake
  • Deal would end key obstacle to $15B Israel-Egypt gas contract
The companies developing Israel’s largest natural gas fields and an Egyptian partner are close to a deal that would give them control of the pipeline to Egypt, eliminating some of the outstanding legal disputes that have impeded progress on a $15 billion export contract.

Israel’s Delek Drilling LP, U.S.-based Noble Energy Inc. and an Egyptian company are in advanced talks to buy 37 percent of East Mediterranean Gas Ltd., which operates the undersea pipeline that connects to Egypt’s Sinai peninsula, people familiar with the matter said. The buyout would give the companies the largest voting bloc in EMG and they expect to reach an agreement with other stakeholders to control and operate the pipeline, the people said.

The stakes under discussion include those currently owned by businessmen Sam Zell and Yossi Maiman, who had successfully filed arbitration cases against Egypt over a previous deal. The buyout would clear a major obstacle to the use of EMG’s pipeline to transport 64 billion cubic meters of natural gas from Israel’s Tamar and Leviathan fields to Egypt’s Dolphinus Holdings Ltd. over 10 years.

Wednesday, June 13, 2018

SUBSEA 7 awarded contract offshore Egypt - SUBSEA 7

13 Jun 2018

Subsea 7 announced today the award of a sizeable(1) engineering, procurement, installation and commissioning contract by Burullus Gas Company for the West Delta Deep Marine Phase 9b development project, offshore Egypt.

The scope includes connecting six new wells into existing subsea facilities using umbilicals and flexible flowlines. Project management and engineering work has already commenced at Subsea 7’s office in Cairo, Egypt and Paris, France. Fabrication of the subsea structures and spools will be carried out at Petrojet’s yard near Alexandria, Egypt.

Offshore work is scheduled to commence in the second half of 2019.

Subsea 7's Regional Vice President for Africa, Gilles Lafaye, said: “This award recognises our track record of good execution and our established local presence in Egypt. We look forward to continuing our successful and collaborative relationship with Burullus.”

Israel seeking interest for second offshore bid round - OIL & GAS JOURNAL

HOUSTON, June/13/2018
Paula Dittrick

Israel plans a second offshore bid round in late 2018 or early 2019, which will involve about 25 southern blocks. Israel’s Chief Geologist Miki Gardosh describes the blocks as being in a highly prospective area that has experienced less exploration than elsewhere offshore.

An initial offshore round was completed in November 2017 resulting in six exploration licenses being awarded. The first-round bidders primarily involved Indian companies. Gardosh said the second-round offering will group 3-4 blocks to make it “more attractive to companies.”

During a trip to Houston June 11, Gardosh said he was soliciting more interest from US oil companies in Israeli offshore blocks. He also visited Calgary.

The second round will offer licenses for up to 7 years with operators required to drill or deciding to drill within 3 years. He said Levant basin models forecast high potential for oil and gas. About 75 tcf of gas has been discovered in the Levant basin in recent years.

Tuesday, June 12, 2018

Turkey opens TANAP pipeline that will bring Azeri gas to Europe - DW


12.06.2018

Turkey and Azerbaijan have inaugurated the TANAP pipeline that will bring gas to Europe while bypassing Russia. The project has won political support from both the United States and European Union.

The presidents of Turkey and Azerbaijan have inaugurated a major pipeline that will eventually transport Azerbaijan natural gas to Europe.

The $8.5-billion (€7.2 billion) Trans-Anatolian Natural Gas Pipeline (TANAP) is part of the Southern Gas Corridor, aimed at turning Turkey into an energy hub and diversifying EU natural gas supplies away from Russia.

"Our country is now one step closer to its vision to become a hub of regional energy lines thanks to TANAP," Turkish President Recep Tayyip Erdogan said in the central city of Eskisehir on Tuesday, dubbing the project "the Silk Road of energy."

Azerbaijani President Ilham Aliyev, Ukrainian President Petro Poroshenko and Serbian President Aleksandar Vucic were in attendance at the ceremony which saw the last section of the pipeline put in place.

Monday, June 11, 2018

Israel's Delek Drilling seeks shareholder approval for Egypt pipeline investment - REUTERS

JUNE 11, 2018 / 3:20 PM
Reporting by Ari Rabinovitch; Editing by Susan Fenton

JERUSALEM (Reuters) - Shareholders in Israel’s Delek Drilling will vote next month on whether to approve a $200 million investment that will allow the company to export gas to Egypt via a subsea pipeline.

Delek announced on Monday that it would hold a special shareholders’ meeting on July 1 to decide whether to go ahead with the investment in East Mediterranean Gas (EMG), which operates a pipeline to carry gas between Israel and Egypt’s Sinai Peninsula.

Delek and Texas-based Noble Energy are partners in the large Tamar and Leviathan natural gas fields off Israel’s coast and signed deals in February with Egyptian firm Dolphinus Holdings to sell $15 billion of gas.

Delek and Noble have been negotiating to buy the rights to use EMG’s pipeline, which was built years ago as part of a now-defunct Egyptian-Israeli natural gas deal but has been out of use.

PGS gathering seismic data for Egypt’s West Mediterranean Bid Round in 2019 - ENERGY EGYPT / UPSTREAM ONLINE

JUNE 11, 2018 AT 2:34 PM

PGS to gather seismic data for Egyptian frontier licensing round.

Oslo-listed player to acquire 2D and 3D data in West Mediterranean ahead of licensing exercise.

Oslo-listed Petroleum Geo-Services (PGS) is set to acquire further seismic data off Egypt’s Western Desert this year in preparation for a planned West Mediterranean frontier licensing round.

According to geophysician Matthew Pyett of PGS, the company will collect nearly 14,000 kilometers of 2D data, as well as 7,000 square kilometers of 3D data, reports industry papers. According to Pyett, the West Mediterranean licensing round is set to be launched “sometime next year” and also suggested the licensing exercise could be split into two phases.

Sunday, June 10, 2018

New Players Enter The European Gas Game - OIL PRICE

Jun 10, 2018, 12:00 PM CDT
Vanand Meliksetian

The expansion of the European Union in 2004 and 2007 indirectly led to several crises at a level not seen since the oil embargo of 1973. The accession of several former Warschau pact countries introduced an extra dimension to European politics: Russia. Due to historical reasons some of these countries have a high dependency concerning hydrocarbons on their large eastern neighbour. Several serious disputes concerning supply, pricing, and debt between Moscow and Kiev from 2005 until 2009 led to disruptions in supply to EU member states. These conflicts highlighted the need for reduced dependency on Russia.

During this period the search for alternative sources was already on its way, but the shutdown of gas supplies as a consequence of these disputes accelerated the process. The completion of two LNG liquefication plants in Poland and Lithuania has decreased the dependency of this region on Russia. The south-eastern flank of the EU, however, is in a direr state. In order to alleviate dependency, the European Commission obstructed construction of the South Stream pipeline from Russia through the Black Sea to Bulgaria.

Christodoulides welcomes Exxon’s intention to speed up drilling plans - CYPRUS MAIL

June 10, 2018

Foreign Minister Nicos Christodoulides has welcomed ExxonMobil’s intention to accelerate procedures ahead of scheduled offshore drillings in Cyprus’ exclusive economic zone.

Asked about his recent meeting with ExxonMobil’s Vice President, Tristan Asprey, in the presence of Energy Minister Giorgos Lakkotrypis, where they discussed geopolitical developments, Christodoulides said that energy planning was going as planned. He added that during the meeting, the company expressed its intention to speed up the process.

ExxonMobil’s Vice President for Europe, Russia Caspian and Asia Pacific / Middle East region, Asprey was in Cyprus on Friday for contacts with officials. The company plans two drillings in block 10, in the island’s EEZ starting in the fourth quarter of 2018.

Cyprus, Greece, and Israel Chart a Common Path - BESA CENTER

June 10, 2018
Dr. George N. Tzogopoulos

BESA Center Perspectives Paper No. 861

EXECUTIVE SUMMARY: Cyprus, Greece, and Israel are steadily building a democratic geopolitical bloc in the Eastern Mediterranean. They are exploring ways to collaborate in fields ranging from energy to communication technology and defense. Greek-American and American-Jewish communities are exploiting the momentum to further boost the developing “triangle” and encourage US support. However, despite progress among the governments and the generally positive climate, warning signs of anti-Semitism in Greece underline the need for grassroots action to combine political achievements with wide public support.

The fourth Cyprus-Greece-Israel tripartite summit, which took place in Nicosia on May 8, 2018, made plain the determination of the three countries to deepen their cooperation. Nicos Anastasiades, Alexis Tsipras, and Benjamin Netanyahu discussed new fields of interest, including public security, cinema co-production, maritime pollution, telecommunications, and the reduction of data roaming costs. They agreed that the fifth trilateral summit will take place within the year in Beersheba, a place described by Netanyahu as “cyber city.” At that event, the parties plan to advance their dialogue on communication technologies.

Friday, June 8, 2018

Corinth to manufacture Karish steel pipes - OFFSHORE MAGAZINE

JUNE/08/2018

MAROUSSI, Greece – TechnipFMC has contracted Corinth Pipeworks Pipe Industry to manufacture and supply steel pipes for Energean’s Karish gas field development in the Mediterranean Sea offshore Israel.
The agreement covers 90 km (56 mi) of 24-in. and 30-in. LSAW pipe material for the offshore gas pipeline: this will connect the subsea manifold at a maximum water depth of 1,750 m (5,741 ft) to the receiving terminal onshore.

Pipe manufacture and coating will start at Corinth Pipeworks facility in Greece later this year.

Egypt lets contract for Midor refinery expansion - OIL & GAS JOURNAL

Houston, JUNE/08/2018
Robert Brelsford

The government of Egypt has let a contract to TechnipFMC PLC to provide services related to the implementation of the expansion at state-owned Middle East Oil Refinery Co.’s (Midor) 115,000-b/d refinery in El Amreya Free Zone, Alexandria, Egypt.

Signed on June 7, the $1.7-billion contract will cover construction, supplies, and engineering designs for the expansion, which aims to increase overall refining capacity at the site by 60% to 175,000 b/d, Egypt’s Ministry of Petroleum and Mineral Resources (MPMR) said.

Overall cost of Midor’s expansion project—which will include participation of Egypt’s ENPPI and Petrojet—will amount to about $2.2 billion, MOP said.

Alongside increasing Midor’s crude processing capacity, the expansion also will raise the refinery’s current LNG production by about 145,000 tonnes/year, benzene 95 by about 600,000 tpy, and jet fuel by about 1.3 million tpy.

The Midor expansion comes as part of MPMR’s integrated plan to develop, upgrade, and increase efficiency and production quality of Egypt’s refineries through implementation of a series of new projects across manufacturing sites to help meet domestic petroleum product demand as well as reduce imports from abroad, said Tariq El-Molla, Egypt’s minister of petroleum and natural resources.

Italy says mulling late-in-the game changes for massive TAP natural gas project - XINHUA NEWS


2018 JUNE 08, 05:33:26
Eric J. Lyman

ROME, June 7 (Xinhua) -- The future of the ambitious Trans-Adriatic Pipeline (TAP), which aims to give western Europe access to natural gas from Azerbaijan's massive Shah Deniz fields, may be in doubt after leading officials in the new Italian government said the project made no sense for Italy.

Sergio Costa, who was installed as Italian environment minister under Prime Minister Giuseppe Conte less than a week ago, promised to launch a study into whether Italy will benefit from continuing to participate in the so-called TAP project. And Minister of the South Barbara Lezzi expressed worry about environmental risks associated with TAP.

The 4.5-billion-euro (5.4-billion-U.S. dollar) TAP project spans 880 kilometers (550 miles) from the border between Turkey and Greece, across Greece into Albania, under the Adriatic Sea, and into San Foca in the southern Italian region of Apulia. From there, it will link with existing gas infrastructure to reach multiple western European markets.

Thursday, June 7, 2018

Israel offers Lebanon resolution to border dispute - INTERFAX

 7 June 2018

Israel made a proposal to Lebanon offering a resolution of a long-standing border dispute between the two countries, according to Lebanon’s Speaker Nabih Berri in a report published by Hezbollah’s Al-Manar news service.

The proposal covers onshore and offshore territory.

Total, Eni and Novatek hold a licence to explore Lebanon’s Block 9, part of which crosses the disputed area.

Israel’s proposal was delivered to Lebanon by a US delegation last week, said Berri.

Wednesday, June 6, 2018

Israel navy drills attack on offshore gas rigs - THE TIMES OF ISRAEL

6 June 2018, 1:34 pm

The Israeli Navy successfully completed a complex exercise last week led by its missile boats flotilla, the military announced Wednesday.

The drill included two major attack and defense scenarios at sea.

In the first scenario, an aircraft simulated a missile threat against an Israeli gas rig. The threat was detected on board a Sa’ar 4.5 missile boat, and was shot down by an interceptor missile launched from the ship.

The navy noted that the ship was recently fitted with state-of-the art detection and observation systems, including the new Fire Sickle radar system which officials said significantly improves vessels’ tracking capabilities.

Last week’s drill was the first live test of the ship in its new configuration.

In the second scenario, a seaborne target simulating an enemy ship was struck by two cruise missiles launched by the ships INS Lahav and INS Kidon. The target was successfully hit and destroyed.

Tuesday, June 5, 2018

New proposals may help resolve Israel/Lebanon oil and gas dispute - REUTERS

JUNE 5, 2018 / 10:46 AM
Ari Rabinovitch

JERUSALEM (Reuters) - New ideas proposed in U.S. back-channel mediation of an Israeli-Lebanese maritime dispute over oil and gas exploration in the eastern Mediterranean raise the prospect of a partial deal this year, Israel’s energy minister said.

Israel kicked off a gas bonanza in the eastern Mediterranean almost a decade ago with the discovery of two huge gas fields. Others were found in Egypt and Cyprus, and companies are now exploring Lebanese waters as well.

One of the Lebanese blocks being explored, Block 9, borders Israel’s maritime zone and contains waters claimed by both countries. The disputed border also touches two other not-yet-licensed Lebanese blocks.

This has led to years of brinkmanship with officials on both sides promising to protect their resources and warning about encroachment.

“There are some new ideas on the table. More than that I cannot discuss,” Energy Minister Yuval Steinitz, said in a Reuters interview. He oversees energy exploration in Israel and is the pointman in indirect negotiations with Lebanon.

Saturday, June 2, 2018

Risks Posed by Competing Claims to Eastern Mediterranean Oil and Gas Resources - WASHINGTON REPORT ON MIDDLE EAST AFFAIRS



2018 JUNE-JULY
Washington Report on Middle East Affairs, June/July 2018, pp. 34-35

Special Report
By Jonathan Gorvett

WHEN ISRAELI PRIME Minister Binyamin Netanyahu spoke in Nicosia in May of “building a great alliance” between his nation, Cyprus and Greece, he was also quick to praise the “unrivaled network of common interests” that exists among the three states.

And if advocates of a giant new project have their way, that network may be about to get a lot more physically tangible.

For Netanyahu was in Nicosia to solidify support for the proposed EastMed Pipeline, a 1,350-mile natural gas connector that aims to bring Israeli and Cypriot gas to energy-hungry European markets. If ever constructed, the pipeline would form a specialized steel and concrete tie among the three nations, stretching far across the deep of the (sometimes unstable) Eastern Mediterranean floor.

Friday, June 1, 2018

Delek says half the work on development of Leviathan gas field completed in Q1 - HAARETZ

TheMarker Jun 01, 2018 1:40 AM

The Delek Group has announced that, as of the end of March, about half of the work in developing its Leviathan offshore natural gas field in the Mediterranean was completed and that gas should begin flowing from the field, Israel’s largest, next year. The work performed included the laying of underwater pipes connecting the gas wells to a main pipeline and the construction of a substantial portion of the production rig, the company said. These details came Thursday as Delek released its first quarter financial results, reporting a decline in revenue from energy operations in Israel after selling off 9.25% of its stake in another gas field, Tamar, in which it retained a 22% share. Delek said all told, it earned 243 million shekels ($68 million) in the first quarter, up from 220 million a year earlier. Revenue rose to 1.78 billion shekels from 1.54 billion. 

Thursday, May 31, 2018

Pharaonic Petroleum's total gas production hit 600 mcf/d - EGYPT TODAY /MENA

Thu, May. 31, 2018

CAIRO - 31 May 2018: The Pharaonic Petroleum Company (PhPC) on Thursday revealed that its total natural gas production hit 600 million cubic feet (mcf/d) per day, in addition to 11,000 barrels of condensate per day.

The announcement came during an inspection tour paid by Petroleum Minister Tarek el Molla to Port Said governorate to follow up on the progress of work at oil and gas production sites there.

During his tour, the minister said that underway projects to extract natural gas and its derivatives in Port Said represent a successful model on how to make good use of Egypt's natural gas resources.

The upcoming phase is expected to witness a boom in the activities of oil and gas exploration in some concession areas, especially after launching two global bids on this regard, el Molla added.

Tuesday, May 29, 2018

Total interested in other offshore blocks - CYPRUS MAIL

MAY 29, 2018
Elias Hazou 

French oil and gas giant Total is interested in buying into other licensed offshore blocks in addition to block 8, MPs heard on Tuesday.

Lawmakers received a behind-closed-doors briefing from energy minister Giorgos Lakkotrypis.

Speaking to reporters later, House commerce and energy committee chair Angelos Votsis (Diko) said Total’s recent application to acquire a 50 per cent stake in block 8 – licensed to ENI – was all but a done deal.

“What remains are the formalities of their receiving approval from Cypriot authorities,” he said.

“Similar moves are expected, that is, Total participating in other blocks operated by ENI. This is also a positive and we welcome it.”

Monday, May 28, 2018

Dana Gas receives $40m in payments from Egypt - GULF NEWS

 May 28, 2018, 16:30 

Abu Dhabi: Dana Gas on Monday announced it has received $40 million (Dh146.8 million) in payments from the Egyptian government taking the total receipts to $88.8 million (Dh325.9 million) this year.

The company said it will use the cash to proceed with growth initiatives such as drilling Balsam-8 in its development lease onshore Nile Delta to increase production.

“We are pleased to have received this $40 million payment from the Egyptian Government which takes our total receipts to nearly $90 million for the first half of the year. It is a timely cash boost and highlights the government’s publicly stated commitment to substantially reduce the petroleum companies’ receivables during 2018,” Patrick Allman-Ward, CEO of Dana Gas, said in a statement.

He added that the company’s primary focus will remain on increasing production and on drilling its first offshore well in Block 6, due to commence in early 2019.

“Block-6 is highly prospective and contains several material prospects with multi-Tcf potential,” he said.

Nooros’ 14th well pumps additional 180 mcf/d into national grid as it comes online - ENTERPRISE


Monday, 28 May 2018

The 14th well at the Nooros gas field has come online, pumping an additional 180 mcf/d into the national grid, the Oil Ministry announced yesterday

The Nedoco field, which was completed in record timing of under two months, brings total production from Nooros to 1.2 bcf/d.

Sunday, May 27, 2018

Egypt on its way to becoming a net exporter of LNG -EIA report - ENTERPRISE

Sunday, 27 May 2018

Egypt is on its way to once again becoming a net exporter of LNG, according to the US Energy Information Administration’s (EIA) latest report. 


The report nods to new gas discoveries in the East Mediterranean, coupled with the government’s drive to reform the energy sector, for renewing investor and business interest in the country, which had died down during the economic slump that followed the 2011 uprising. 

Egypt is the largest non-OPEC oil producer in Africa and the third-largest dry natural gas producer on the continent. The country also serves as a major transit route for oil shipped from the Persian Gulf to Europe and to the United States.

Egypt is the largest oil producer in Africa outside of the Organization of the Petroleum Exporting Countries (OPEC) and the third-largest natural gas producer on the continent following Algeria and Nigeria. Egypt plays a vital role in international energy markets through its operation of the Suez Canal and the Suez-Mediterranean (SUMED) Pipeline.
The Suez Canal is an important transit route for oil and liquefied natural gas (LNG) shipments traveling northbound from the Persian Gulf to Europe and to North America and for shipments traveling southbound from North Africa and from countries along the Mediterranean Sea to Asia. Fees collected from these two transit points are significant sources of revenue for the Egyptian government.

The 2011 revolution led to an economic downturn, and the country experienced a sharp decline in tourism revenue and foreign direct investment, according to the International Monetary Fund (IMF). However, economic conditions have improved over the past few years, and financial support from the United Arab Emirates (UAE), Saudi Arabia, and Kuwait has helped Egypt address its increasing domestic demand for energy.

Friday, May 25, 2018

EBRD finances upgrade of Egypt’s Suez oil refinery - ENERGY EGYPT / OIL & GAS JOURNAL

May 25, 2018

The European Bank for Reconstruction & Development (EBRD) is providing a $200-million loan to state-owned Egyptian General Petroleum Corp. subsidiary Suez Oil Processing Co. (SOPC) for the upgrade of its 68,000-b/d refinery adjacent to Suez, Egypt, at the entrance of the Suez Canal.

ERBD funds will finance investments to modernize the refinery with technical updates to improve overall operational performance and energy efficiency at the site, as well as works to reduce the refinery’s carbon footprint, ERBD said.

Specifically, the proposed projects will increase flexibility of the plant’s crude intake and enable production of higher-quality, lower-sulfur fuels, ERBD said.

The refinery also will implement an extensive energy efficiency program that will reduce emissions of carbon dioxide equivalent by more than 295,000 tonnes/year and result in a savings of 300,000 Mw-hr of energy and 384,000 cu m of water annually, the international financial institution said.

Thursday, May 24, 2018

Natural gas exported to Italy from Libya after four year halt - THE LIBYA OBSERVER

May 24, 2018 - 13:00
Housam Najjair

The National Oil Corporation (NOC) shipped on Wednesday its first quantity of propane gas from the Zueitina port to Italy, estimated at approximately 61,761 barrels.

The NOC said in a statement that the shipment is the first of its kind to Italy in four years, since the gas plant at the port of Zueitina was shut down causing gas exports to Italy being halted.

Libya is considered to be one of the largest exporters of natural gas to Italy through Italy's oil giant Eni, which invests in Libya.

Oil Ministry wants Haliburton to advise on maturing fields - ENTERPRISE

Thursday, 24 May 2018

Oil Minister Tarek El Molla met with Halliburton’s Executive Vice President of Global Business, Eric Carre, on Wednesday to discuss the possibility of the company advising the ministry on strategies on further development on maturing fields, according to an Oil Ministry statement


They also discussed progress on the seismic database currently being developed to market Egypt’s reserves.

Tharwa Petroleum readies to drill in North Sinai’s Noor concession - ENTERPRISE

Thursday, 24 May 2018

Tharwa Petroleum is waiting for final gas exploration approvals to begin drilling in the Noor concession in North Sinai, a company source says

The number of wells to be drilled will be determined once the contracts are signed, they added. 

The Cabinet had approved earlier this month a USD 105 mn exploration agreement with Eni and Tharwa to search for oil and gas in the Mediterranean off the coast of North Sinai. 

Parliament had signed off on the agreement earlier in the week.

Wednesday, May 23, 2018

Delek Royalties issues $113m bond - GLOBES

23 May, 2018 15:44
Kobi Yeshayahou

The first stage in Delek Royalties' two-stage offering was completed yesterday with the company raising $113 million (NIS 404 million) in the bond issue for investment institutions. Demand totaled NIS 900 million. Leading investment institutions took part in the issue, led by Leader Underwriters and Excellence Nessuah Underwriting.

Delek Royalties is a special purpose vehicle (SPV) founded by Delek Group Ltd. (TASE: DLEKG), controlled by Yitzhak Tshuva, in order to absorb the super royalties from the Tamar natural gas reservoir to which Delek Group's Delek Energy subsidiary is entitled.
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The interest on the 4.7-year dollar-denominated bonds, rated Aa3 with a stable outlook by Midroog, was set at 5.48%.

Tuesday, May 22, 2018

EGAS offers 16 Mediterranean & Nile Delta blocks in oil & gas bid round - ENTERPRISE


May 22, 2018

The Egyptian Natural Gas Holding Company (EGAS) launched the 2018 bid round for oil & gas exploration on 16 concession areas: 13 blocks in the Mediterranean Sea and three concessions in the onshore Nile Delta region.

The Egyptian Ministry of Petroleum announced in an Al Ahram newspaper advertisement that the deadline for receiving bids for the EGAS tender will be on October 1, 2018

EGPC launches 2018 oil & gas exploration bid round for 11 blocks - ENTERPRISE


May 22, 2018

The Egyptian General Petroleum Corporation (EGPC) launched the 2018 bid round for oil & gas exploration on 11 blocks: Five in the Western Desert, two in the onshore Nile Delta region, one in the Eastern Desert, and three in the Gulf of Suez (both onshore & offshore).

The Egyptian Ministry of Petroleum announced in an Al Ahram newspaper advertisement that the deadline for receiving bids for the EGPC tender will be on October 8, 2018.

SDX Energy's Kelvin-1X well disappoints in Egypt - WORLD OIL

MAY/22/2018

LONDON -- SDX Energy Inc., the North Africa focused oil and gas company, announces that the Kelvin-1X exploration well at South Disouq, Egypt (SDX 55% working interest and operator) has been drilled to a TD of 8,075 ft, encountering 606 net ft of high-quality reservoir interval in the Abu‐Madi formation, with an average porosity of 21%. However, the sands had low gas saturation and were not deemed to be commercial.

The well will now be plugged and abandoned, and the rig will move to the site of the next drilling location on the South Disouq licence, the SD-4X appraisal well.

Following the April 2017 SD-1X discovery on South Disouq, SDX targeted two near-field prospects, Ibn Yunus, where the Company has recently announced a significant discovery, and Kelvin. The Kelvin-1X well was located structurally updip of the SD-1X discovery and thought to potentially be connected to the original SD-1X structure by a continuous gas bearing section. However, the identified layer appears to be separated from the original discovery and contains gas with non-commercial saturations. The Company is now focused on completing the development at SD-1X and bringing both discoveries on stream as quickly as possible, with first gas prior to year-end 2018.

Egypt Sets Deadlines For Oil And Gas Exploration Bids - RIGZONE / REUTERS

Tuesday, May 22, 2018
Reporting by Ehab Farouk, writing by Sami Aboudi; editing by Jason Neely

CAIRO, May 22 (Reuters) - Egypt has set October 1 and October 8 deadlines for two major international tenders for oil and gas exploration spanning 27 onshore and offshore blocks, the oil ministry said on Tuesday.

Bids for 11 blocs offered by the Egyptian General Petroleum Corp (EPGC) must be submitted by October 1, the ministry said in an advertisement published in the state-run al-Ahram newspaper.

Companies interested in 16 concession areas offered under state-buyer EGAS must submit their bids by October 8, it said.

The EPGC tenders include five blocks in the Western Desert, two in the Nile Valley, three in the Gulf of Suez and one in the Eastern Desert.

The EGAS tender, described by the ministry as the largest in the company's history, includes 13 offshore Mediterranean blocks and 3 in the Nile Delta.

Monday, May 21, 2018

Egypt to launch 2 international bid rounds for oil and gas exploration in 2018 - statement - REUTERS

MAY 21, 2018 / 10:42 AM
Reporting by Nadine Awadalla; Editing by Toby Chopra

CAIRO, May 21 (Reuters) - Egypt will launch two international bid rounds for oil and gas exploration in 2018, the petroleum ministry said in a statement on Monday.

One bid round will cover 16 sectors under the state-buyer EGAS, while the other will cover 11 sectors under the Egyptian General Petroleum Corp (EGPC), the statement said.

The EGAS bid round is set to be the largest since its founding in 2001.