Saturday, July 15, 2017

AllSource Analysis: Shell’s Idku LNG Ramps Up Exports - ENERGY EGYPT

July 15, 2017

The liquefaction terminals at Idku represent the only currently operating facilities in Egypt for the export of LNG. Since fall 2016, Egypt’s Petroleum Ministry and Shell, the operator of the facility, have agreed to increase the number of LNG cargo ships (hereafter “cargoes”) leaving Idku, which has been at extremely low levels for the past three years. Setting a target of 22 shipments for 2017, it is hoped that the facility can export enough to balance expenses and revenues. Imagery analysis confirms 4 cargoes leaving the port so far in 2017, illustrating tentative progress towards the goal, as well as beginning to pay down outstanding debts to Shell. The target of 22 shipments in 2017 will likely be revised upwards in 2018 and 2019 as the terminal approaches maximum output by 2020 to coincide with the massive Zohr field coming online and changing the Egyptian gas landscape entirely.

Turkey’s Barbaros sets course for Cyprus’ Block 6 - IN CYPRUS / CYPRUS WEEKLY

July 15, 2017

Turkey’s exploratory vessel Barbaros has reportedly set a course for Block 6 within Cyprus’ Exclusive Economic Zone (EEZ) while Nicosia continues to call for calm against an act many see as a provocation by Ankara to raise tensions.

Earlier on Friday, Turkish Energy Minister Berat Albayrak said that they had completed tests in Famagusta and that “our next step is Morphou which is very important to us.”

Turkey recently announced that it would conduct seismic researches to the east of Paphos following the start of the drilling process – commissioned by ENI/Total in Block 11 of the island’s EEZ.

Indian companies to bid for Israeli oil and gas licenses - YNETnews.com

15.07.17 , 17:24
Ilan Evyatar/TPS


After Israel issues tenders for licenses to drill in 24 blocs of up to 400 square kilometers in size, India announces that it will take part in the bidding for natural gas and oil licenses in Israel’s maritime economic zones.

Indian energy companies will take part in the bidding for natural gas and oil licenses in Israel’s economic waters, India’s Minister of State for Petroleum and Natural Gas Dharmendra Pradhan told his Israeli counterpart Yuval Steinitz, during a meeting in Istanbul, Turkey on Wednesday.

The two met on the sidelines of the World Petroleum Congress and agreed to set up joint work teams to strengthen energy cooperation between the two countries. The announcement comes a week after a historic visit to Israel by Indian Prime Minister Narendra Modi, in which trade deals worth billions of dollars were signed.

Friday, July 14, 2017

Medserv to service Eni Cyprus for two more years - TIMES OF MALTA

Limassol Port
Friday, July 14, 2017, 09:44

Contract extension announced
Malta-based oil and gas logistics firm Medserv and Italian oil company Eni have activated a contract extension which will ensure the Maltese company continues to provide operational base support services for Eni Cyprus Ltd for another two years.

The deal, inked with Medserv (Cyprus) Ltd, includes the provision of dedicated facilities and services in the port of Limassol whilst still maintaining the base facilities in Larnaca port.

The two companies had first signed a three-year deal in June 2014, with the contract allowing for a two-year extension. Medserv (Cyprus) Ltd was set up in 2011 to provide logistics and support facilities for the oil and gas sector in the eastern Mediterranean basin.

Egypt to open new areas in Red Sea for oil, gas exploration - BUSINESS STANDARD

Cairo July 14, 2017, 04:52 IST
IANS

Egyptian Petroleum Minister Tarek el-Mulla said on Thursday that new areas in the Red Sea will be open for bidding for exploration as part of Egypt's effort to expand oil, gas production.

Mulla did not disclose the exact date for the bidding. He told a news conference that the bidding comes after the recent approval of the Egyptian-Saudi maritime border demarcation deal, in which Egypt agrees to transfer two Red Sea islands in the Red Sea to Saudi Arabia, Xinhua reported.

Earlier on Thursday, Mulla and Egyptian Prime Minister Sherif Ismail held a meeting to discuss a number of issues, including the latest deals and bids that aim to increase the country's crude oil and natural gas production, the official news agency MENA reported.

Thursday, July 13, 2017

Shell repays Idku loan ahead of schedule - ENTERPRISE

Thursday, 13 July 2017

Royal Dutch Shell repaid the final installment in the second tranche of a USD 2 bn loan issued to BG to build the Idku liquefaction plant ahead of schedule, a statement from the Petroleum Ministry picked up by Al Mal says


The company had said in January that it would complete the payments by December 2017. The Egyptian General Petroleum Corporation had agreed to pay USD 480 mn of the first installment due to the Idku plant halting operations in 2012.

Turkey ‘to take measures’ against Cypriot exploration - IN CYPRUS / CYPRUS WEEKLY

July 13, 2017

Turkey will take measures against Greek Cypriot exploration for oil or gas around Cyprus, Turkey’s foreign minister said on Thursday, adding that Turkish Cypriots had rights on those reserves.

Turkey’s energy and foreign ministries are working together to plan steps against the Greek side’s “unilateral” steps, Foreign Minister Mevlut Cavusoglu said, adding that sending a drilling vessel showed Greek side’s “insincerity” about reunification talks that failed last week.

TEKMOR Monitor View: We accurately predicted the failure of the recent UN talks on the Cyprus-Turkey conflict the day they were announced. The fact is that Turkey has no rights in Cyprus. The Turkish Cypriot minority, that Turkey uses as a pretext, indeed has rights but only via the Republic of Cyprus which Turkey does not recognize and Turkish Cypriots abandoned. There is very little that Turkey can do against Cyprus, a geostrategically important and potentially hydrocarbon-rich EU member. Checkmate. Well done Cyprus.

Wednesday, July 12, 2017

Total To Drill For Gas Off Cyprus Despite Collapse Of Peace Talks - REUTERS

Wednesday, July 12, 2017
Reporting By Michele Kambas; Editing by Greg Mahlich

NICOSIA, July 12 (Reuters) - The 'West Capella' drilling vessel contracted by France's Total and Italy's ENI moved into position to start exploring for gas off Cyprus on Wednesday, the island's energy ministry said.

The drilling work, which is a contractual obligation between Total and Cyprus, comes days after the acrimonious collapse of talks to reunify the divided island nation, split between ethnic Greek and Turkish Cypriots.

Turkey, which invaded Cyprus's north in 1974 in response to a brief Greek inspired coup, says the island's internationally recognised government has no jurisdiction to explore for hydrocarbons.

First Chinese-operated gas regulator station in Egypt to be operational in September - CHINA DAILY / XINHUA

Xinhua | 2017-07-12 14:20

BENI SUEF, Egypt — The first gas regulator station operated by a Chinese company in Egypt will be operational in September, a company representative said Tuesday.

The Beni Suef station, operated by China Petroleum Technology & Development Corporation (CPTDC), a subsidiary of China National Petroleum Corporation (CNPC), will start pumping natural gas in September, Qitang Li, a CPTDC representative in Cairo told Xinhua.

CPTDC signed a $20 million deal with Egyptian Natural Gas Company (GASCO) in 2016 to establish three gas regulator stations in Egypt.


Under the deal, the Beni Suef station, 150 kilometers south to the Egyptian capital Cairo, will start operating in September, while the other two stations at Burullus city and the new administrative capital will start assembling work soon, Li said.

All eyes on Turkey as Total-ENI vessel readied to drill offshore Cyprus - NEW EUROPE

West Capella in Block 11, photo tweeted by Minister Lakkotrypis
July 12, 2017 14:26
Kostis Geropoulos

If Ankara provokes a hot incident in its attempt to block or stem the upcoming explorations in Cyprus’ EEZ, then it will have to confront not only Nicosia but the majority of the international community and the global energy community, a leading regional expert tells New Europe

ATHENS – As the West Capella drilling vessel, contracted by France’s Total in association with Italy’s ENI, is about to start drilling at Block 11 off Cyprus’ Exclusive Economic Zone (EEZ) only a few days after UN-sponsored reunification talks collapsed in Crans-Montana, there are concerns that Turkey may cause tensions in the area.

Turkey energy minister 'to visit Israel for pipeline deal' - i24NEWS

   Turkish energy Minister Berat Albayrak, July 27, 2016 (AFP)
JULY/12/2017 6:08:16 PM
Written by AFP

He added that no exact date for a visit had been fixed but it would take place in the coming months


Turkey's Energy Minister Berat Albayrak is set to visit Israel by the end of this year to conclude an agreement for the building of a natural gas pipeline from the Jewish state to Turkey, the Israeli energy minister said on Wednesday.

A visit by Albayrak, son-in-law of Turkish President Recep Tayyip Erdogan and a key member of his inner circle, would be a significant diplomatic move by Ankara after a rapprochement deal last year between the two countries mended a long-standing rift.

Tuesday, July 11, 2017

Cyprus gas exploration on course as drill rig set to arrive - IN CYPRUS / CYPRUS WEEKLY

Active O&G Companies in Cyprus' declared EEZ 
July 11, 2017

The drilling rig West Capella is set to arrive at its designated drilling spot for hydrocarbon exploration in the Onisiforos-West 1 region of plot 11 in the Cyprus Exclusive Economic Zone as scheduled at 3am on Wednesday morning.

What remains unknown is how Turkey will react to the arrival of the Total rig in light of recent statements by Turkish President Recep Tayyip Erdogan.

“Some energy companies are acting with, and becoming part of some irresponsible measures taken by, Greek Cypriots in exploration in the eastern Mediterranean,” said Erdogan in the presence of the US Secretary of State Rex Tillerson.

BOTAŞ agrees on financing Turkish Stream with Russia’s Gazprom - DAILY SABAH

Pioneering Spirit passes through Bosporus-May 31,2017(AA Photo)
11 July 2017

The state-owned Petroleum Pipeline Company (BOTAŞ) reached an agreement on financing the Turkish Stream pipeline with the Russian state-owned gas and oil giant Gazprom, the Turkish company's General Manager Burhan Özcan said Monday.

"We have already agreed with them on the issue [of financing]. However, I cannot disclose any figures, in what percentage ratio will we do this," Özcan said, speaking at the 22nd World Petroleum Congress in Istanbul.

The BOTAŞ head said that the process of obtaining permits for the second line of TurkStream continues in a positive way, adding that "there are no pitfalls in it."

Monday, July 10, 2017

First exploratory drills for Greek hydrocarbons to start in 2018-2019 - CAPITAL

Monday, 10 July 2017 - 09:29

The first exploratory drills for hydrocarbons in Greece that will provide a clearer picture on the existence and size of the deposits are expected to start in 2018-2019 from the western Gulf of Patras and the offshore field in Katakolon, according to sources of the Athens-Macedonian News Agency.

The sources said interest now is focusing on the one hand on the invitation to a tender for the two large sea areas claimed by Energean Oil and Gas in the Ionian and the sea off western Crete, and the next tenders prepared by the Hellenic Hydrocarbons Resources Management (HHRM) for mainland and offshore areas, ΑΜΝΑ reported.

Greece expects minimum $456 mln offers in gas grid sale - newspaper - REUTERS

Mon Jul 10, 2017 | 7:28am EDT

Greece expects potential investors will offer at least 400 million euros ($456 million) for a majority stake in its gas grid operator DESFA, Energy Minister George Stathakis said in an interview with Naftemporiki newspaper.

Greece, under pressure by EU lenders to conclude the sale as it has earmarked about 180 million euros of the proceeds in this year's budget, relaunched the tender in June after a 400 million euro deal with Azerbaijan state oil company SOCAR fell through over gas tariffs among other issues.

India's ONGC Videsh to bid in Lebanon gas field auction: India government - REUTERS

JULY 10, 2017 / 11:15 AM

NEW DELHI (Reuters) - Indian energy company ONGC Videsh will bid in an upcoming auction to explore and develop gas fields off the coast of Lebanon, India's oil minister said on Monday.

ONGC Videsh, the overseas investment arm of India's top explorer Oil and Natural Gas Corp, is among several companies pre-qualified to bid for offshore exploration and production licenses from the Middle Eastern nation.

Indian oil minister Dharmendra Pradhan, leading a delegation at the World Petroleum Congress in Istanbul, made the comment in a Tweet after meeting with Lebanese Energy and Water Minister Cesar Abou Khalil.

USD 415 mn LNG pier in Ain Sokhna port begins trial operations - ENTERPRISE

Monday, 10 July 2017

Trial runs have begun at the Arab Petroleum Pipelines Company (SUMED)’s USD 415 mn LNG pier at Ain Sokhna port, Ahram Gate reports. The project — which aims to receive LNG and pump it through the national grid, in addition to receiving, storing and transporting fuel to the domestic or export — is a crucial component of the Oil Ministry’s strategy to turn Egypt into a regional energy hub. Structural work for the FSRU unit anchorage was completed in June, with the facility having begun receiving natural gas shipments, which was connected to the national grid. 

Sunday, July 9, 2017

WesternGeco and TGS collect geophysical data for $720m - DAILY NEWS EGYPT

Sunday July 9, 2017
Mohamed Farag
 
Contract will be signed in two weeks for land areas in Western Sahara and Red Sea

WesternGeco Schlumberger and TGS have won contract for the collection of geophysical data in open land areas in the South Valley Egyptian Petroleum Holding Company in the Red Sea.

The two companies will collect the geophysical data in the South Valley Company in the Red Sea with investments worth $720m, according to Moustafa Abdel Ghaffar, manager of exploration in the company. The contracts will be signed within two weeks. The two aforementioned companies have made the best technical and financial offers.

Drilling operations will not be postponed, Anastasiades says - CYPRUS MAIL

July 9, 2017

Drilling operations in Cyprus’ Exclusive Economic Zone will not be postponed and no pressure is exerted to this end, President Nicos Anastasiades said.

Speaking to an event in Limassol on Saturday evening, Anastasiades said that drilling operations will move forward as planned.

Commenting on whether the deadlock of the settlement talks in Switzerland would affect this, the president said that there was no link between the Republic’s drilling plans and Turkey’s responsibility for the collapse of the talks. Anastasiades also said he is to address the people on the matter on Monday.

Israel invests billions in local defense industries as part of project to protect its 'economic waters' - JERUSALEM ONLINE

Jul 9, 2017, 12:15PM
Amit Boukai

As part of Israel's new project to protect its natural gas rigs, the Israeli Ministry of Defense announced it would finalize a 1.5 billion NIS deal with local defense industry companies by the end of the year to purchase advanced combat systems to be installed on ships. Israel's defense minister stressed the importance of the local defense industries being invested in by the government.

The Israeli Defense Ministry announced on Sunday that it would purchase combat systems for an estimated 1.5 billion NIS from Israeli defense industries that will be used on ships to protect Israel’s gas rigs. Israeli Defense Minister Avigdor Lieberman stated that “there is a great deal of significance for the country’s economy and security.”