Cracks appear in EastMed pipeline - CYPRUS MAIL

MARCH 8, 2019

CRACKS seem to be forming among the countries participating in the EastMed gas pipeline, raising questions over the project’s feasibility, if media reports are to be believed.

Earlier this week Italy’s La Stampa newspaper suggested Rome is having second thoughts over the proposed subsea pipeline, which has already received funding from the EU as a ‘Project of Common Interest’.

In December 2018, the four countries involved – Israel, Cyprus, Greece and Italy – signed a framework agreement to provide Europe with natural gas via the EastMed.

According to La Stampa, the definitive agreement was expected to be concluded by the end of March – but Italy now says it wants to put the brakes on the project.

Apparently under pressure from environmental activists, the Italian government has decided to order a new environmental impact assessment.

ENERGY: Cyprus gas fields are turning into export grade - FINANCIAL MIRROR

07 March, 2019

Cypriot Energy Minister George Lakkotrypis said the quality of the reservoir found in Block 10 of Cyprus’ Exclusive Economic Zone (EEZ) allows for optimism that the recoverability will be very high.

The Minister, speaking at the 6th Eastern Mediterranean Gas Conference in Nicosia, also noted that more appraisal work is needed by ExxonMobil within the coming weeks.

ExxonMobil discovered huge quantities of natural gas ranging from 5 to 8 trillion square feet, the largest find offshore Cyprus.

Lakkotrypis said the discovery in the “Glafcos 1” well creates prospects to relook at Block 10 targets, adding that “Calypso” and “Aphrodite” fields, indicate the potential of the EEZ. The Minister said that Nicosia was looking forward to the upcoming drilling programme of Eni and Total, waiting at the same time the appraisal well for “Calypso” in Block 6.

Referring to monetization of the discoveries, he said that the Cyprus government has been maturing all of its options simultaneously, with the exception of “Aphrodite” field for which announcements were hopefully expected in the next few weeks.

Egypt to offer three oil & gas exploration bid rounds this year / Inaugural meeting of the East Med seven took place yesterday - ENTERPRISE

Thursday, 7 March 2019

Egypt is planning to offer three oil & gas exploration bid rounds this year, Energy Minister Tarek El Molla told local press. 

EGAS will offer a bid round in the Mediterranean and EGPC will offer two bid rounds in the Western Desert, the Red Sea, and the Eastern Desert.

Inaugural meeting of the East Med seven took place yesterday: Representatives from the seven East Mediterranean countries held the inaugural meeting to form a regional gas market in Cairo on Wednesday, according to an Oil Ministry statement. 

The meeting, which included representatives from Egypt, Israel, Cyprus, Greece, Italy, Jordan, and Palestine, looked at the initial steps needed to bring about the market. 

Upbeat vision of gas future in wake of block 10 find - CYPRUS MAIL

Energy minister Giorgos Lakkotrypis addressing the seminar

March 6, 2019

The gas find in Glafcos (Glaucus) 1 well in Block 10 of the island’s exclusive economic zone (EEZ) is expected to yield large revenues, the energy minister Giorgos Lakkotrypis said on Wednesday.

Speaking at the Sixth Eastern Mediterranean Gas Conference in Nicosia, Lakkotrypis said in the coming weeks further work to confirm the ExxonMobil discovery, which was announced on 28 February to be between 5-8 trillion cubic feet (tcf), will be necessary.

Further discoveries in the Calypso well in Block 6 and in the Aphrodite well in Block 12 serve to paint an overall picture of the potential within the Cyprus EEZ, Lakkotrypis added.

Around five more drillings are expected to take place in the coming period with energy companies ENI and Total, he said, to confirm the natural gas stocks of the Calypso well and reassessing the capacity of Block 10.

Regarding the utilisation of the gas finds, he said that an announcement for Aphrodite is expected within weeks concerning the use of Egyptian terminals.

Netanyahu says Pompeo will participate in Israel-Greece-Cyprus summit - KATHIMERINI

THURSDAY MARCH 6, 2019 : 20:24

US Secretary of State Mike Pompeo will visit Israel imminently to help with its plan for exporting natural gas to Europe with Cypriot and Greek partners, Israeli Prime Minister Benjamin Netanyahu said on Wednesday.

Israel is hoping to enlist several European countries in the construction of a 2,000 kilometre (1,243 mile) pipeline linking vast eastern Mediterranean gas resources to Europe at a cost of $7 billion.

"In a few days, the leaders of Cyprus and Greece will come here, together with ... Pompeo, to advance a gas pipeline from Israel to Europe via these countries," Netanyahu told naval cadets in the port city of Haifa.

The US Embassy in Israel declined comment.

Energean Oil and Gas reveals start of well drilling campaign offshore Israel - PROACTIVE INVESTORS

04 Mar 2019 : 09:04 

Energean Oil and Gas PLC (LSE:ENOG) has started development drilling operations in its 2019 Israel well campaign, which will comprise at least four wells, but, could increase to as many as ten.

It initially has a programme of four wells at the Karish North project, which will see the ‘batch drilling’ of their top-sections, enabling significant operational efficiencies and cost savings.

The wells will be drilled by the contracted Stena DrillMAX drillship, which can operate in deep waters (up to 10,000 feet deep).

Energean last month told investors that it planned to target some 2.3 trillion cubic feet of potential gas resources through the 2019 drill programmes.

First gas is targeted in the first quarter of 2021.

Gas exports to Jordan reach 350 mcf/day - ENTERPRISE

Sunday, 3 March 2019

Egypt’s natural gas exports to Jordan have reached approximately 350 mcf/d, up from 100 mcf/d in January, Oil Minister Tarek El Molla told Daily News Egypt. 

The news means that Egypt has beaten its export targets, which would have seen gas shipments rise to 250 mcf/d by the summer. 

Egypt and Jordan signed a gas export agreement back in September that will see Egypt provide as much as 10% of the kingdom’s gas needs.

Shell sees 150 mcf/d output drop in Burullus and Rashid natural gas fields - ENTERPRISE

Sunday, 3 March 2019

Royal Dutch Shell’s natural gas output from the West Nile Delta Burullus and Rashid fields has declined to 250 mcf/d from 400 mcf/d the previous year due to decreasing well productivity, an Oil Ministry source told the domestic press. 

The company is aiming to link 100 mcf/d from Phase 9B of the Burullus gas field in 1H2019 to make up for part of the drop, the source said. 

The company had previously hoped to increase output to 450 mcf/d by the end of FY2018-2019, an EGAS source said.