Halliburton and Honeywell in talks to develop oil fields and refineries in Libya - THE LIBYA UPDATE

Friday, March 24, 2023

Halliburton and Honeywell International Inc. are hammering out $1.4 billion worth of deals to develop an oil field and refinery with National Oil Corporation in Libya, the Wall Street Journal reports, citing the chairman of state-owned firm, Farhat Bengdara.

Libya’s NOC and Honeywell are set to unveil a contract related to the construction of a refinery in southern Libya, Bengdara and a spokesman for the American firm told the Wall Street Journal. The initial deal, expected to be announced this weekend, is for the design of the plant, the spokesman said, which would be followed by a $400 million pact to build the entire plant.

This announcement notably comes after U.S. Secretary of State Antony Blinken told a senate committee on Wednesday that the U.S. was actively working to reopen an embassy in Libya, in part so it could better support the prospect of Libyan elections. The U.S. shut its embassy in Tripoli in 2014 following violent clashes between militias.

Is Egypt’s Oil And Gas Sector Set To Boom? - OILPRICE.com

Nov 06, 2021, 10:00 AM CDT
Felicity Bradstock

• Italian oil major, Eni, announced this week that it has made three new oil and gas discoveries in the Meleiha region of western Egypt.
• The new discovery further adds to Egypt’s recent announcement that it expects to become self-sufficient in oil by as early as 2023.
• Eni’s finds are just the latest in several significant oil and gas discoveries over the last decade.

As Eni makes a new oil and gas discovery in Western Egypt, the future of energy in the oil-rich nation looks promising. After record production figures were hit in September for the first time since 1957, with an output of 65,000 bpd, as well as plans for new refineries and high levels of LNG production, Egypt looks set to not only become self-sufficient in energy but also to become a major exporter.

Oil exports fetch USD 1.4 billion in Libya - BRAZIL-ARAB NEWS AGENCY (ANBA)

07/ MAY /2020
Philippe Roy/AFP

São Paulo – Libya saw LYD 1.98 billion in oil export revenues year-to-date through April, an amount equivalent to roughly USD 1.4 billion, African news outlet Panapress reported quoting official Central Bank of Libya numbers. Libya is an Arab country located in the African continent.

Libya is struggling with maintaining its oil at full capacity, as a result of political unrest since the ousting of dictator Muammar Gaddafi in 2011. The Government of National Accord is officially ruling over the country, however opposing forces do not recognize its authority, and are controlling part of Libya’s territory.

Libya’s National Oil Company (NOC) recently said that a blockade of oil-producing areas as a result of fighting since January has trimmed daily oil output down to between 92,000 and 72,000 barrels per day, from a prior 1.2 million bpd.

Libya’s February oil revenues down 69 percent; NOC calls for immediate end to illegal oil blockade and on state to reduce expenses - LIBYA HERALD

London, 25 March 2020

Sami Zaptia

Libya’s state National Oil Corporation (NOC) reported that February 2020 hydrocarbon revenues were approximately US$ 555 million, a decrease of around $1.21billion USD (68.6%) on January 2020 revenues. The February figure is also a decrease of around US$ 708 million (56%) compared with February last year. It called for an immediate end to the costly oil blockade.

It confirmed that oil and gas production in Libya have been consistently down, with current levels of production at 95,837 barrels a day, as of Sunday March 22, 2020. Forced restriction of production has resulted in financial losses exceeding 3,535,802,366 USD since January 17, 2020.

Libya says oil shutdown losses close to $2.6 billion - ASSOCIATED PRESS

March 3, 2020
Samy Magdy

CAIRO (AP) — Economic fallout continues from a protracted blockade of Libya’s vital oil fields and ports, with losses close to $2.6 billion, the national oil corporation announced Tuesday, intensifying the pressure on a U.N.-supported government in the capital.

Powerful tribes loyal to Libya’s eastern-based forces seized large export terminals and choked off major pipelines in January, aiming to starve the Tripoli-based government of crucial revenues.

The eastern-based forces, led by military commander Khalifa Hifter, launched an offensive in April to capture Tripoli, clashing with an array of militias loosely allied with the U.N.-supported government. The fighting for Tripoli has ground down to a stalemate in recent months.

The National Oil Corporation, which dominates Libya’s critical oil industry, said Tuesday the losses as of Monday were close to $2.6 billion since Jan. 17.

Libya’s NOC sets out big plans in international pitch - ENERGY VOICE

22/11/2019, 7:18 am

Ed Reed

Libya expects to raise more than $20 billion in revenue in 2019, with production running at around 1.25 million barrels per day, the company’s chairman Mustafa Sanalla said at a conference in Tunis.

The plan is for 2020 to be a “transformative year for NOC and Libya”, he said. There are a number of aspects to the scheme, which should see production increase to 1.5mn bpd in 2020 and 2.1mn bpd by 2024. Gas output by that point should be 3.5 billion cubic feet (99 million cubic metres) per day.

NOC also intends to launch a charter for its values and implement a “4D security plan”, covering transparency, engagement with communities and restricting criminal gangs’ ability to carry out fuel smuggling and other sources of revenue raising. Sanalla set out plans for an “endowment fund”, under which communities hosting oil production would receive payments linked to output volumes.

Egypt reduces natural gas production amid lower demand - ENTERPRISE

Thursday, 10 October 2019

The Oil Ministry has reduced Egypt’s natural gas production to 6 bcf/d, from 7 bcf/d after lower domestic and international demand resulted in surplus production, an unnamed ministry source told the local press. 

It is expected that the production will gradually rise back to 7.5 bcf/d in this fiscal year.

Numbers about natural gas activities in Egypt - EGYPT TODAY

Tue, Sep. 24, 2019

CAIRO – 24 September 2019: Egypt has put a number of gas fields on the map of production during the last period, which was reflected on the rates of gas production in September to hit 7.2 billion cubic feet per day.

The following are the most important figures that drew the map of natural gas activity in the last period:

1. Launching an international tender for oil and gas exploration in 10 sectors in the Red sea.
2. Signing Noor Marine Agreement, with investments of research and exploration amounting to about $85 million.
3. The value of investments in the field of research, development and operation of natural gas activity reached about $3.7 billion during 2018/2019.
4. Egypt's natural gas production has risen to unprecedented rates.

EGAS to sign 7 new gas exploration agreements with int’l companies in 4Q2019 - ENTERPRISE

Sunday, 22 September 2019

State-owned EGAS expects to sign seven new gas exploration agreements with international companies worth at least USD 712 mn during 4Q2019, Chairman Osama El Bakly said, according to a ministry statement. 

Companies will drill 23 exploratory wells under the terms of the agreement, he said, without naming the concessions or companies involved. 

El Bakly also said that Egypt’s natural gas production hit a record 7.2 bcf/d in September, up from 7 bcf/d at the end of June.

Egypt achieves 1.56 bcf/d natural gas surplus - ENTERPRISE

Wednesday, 17 July 2019

Egypt has achieved an average natural gas surplus of 1.56 bn cf/d, an Oil Ministry source told the local press. 

Production at the Zohr natural gas field is expected to rise to 2.95 bcf/d by next July, up from 2.3 bcf/d currently. 

The country’s average gas consumption is expected to reach 6.39 bcf/d through FY2019-2020 out of a total production capacity of 7.95 bcf/d. 

Surplus gas is being exported through liquefaction plants in Idku and Damietta.

EGAS to Boost Natural Gas Production to 4.8 bcf/d by 2022 - EGYPT OIL & GAS

Sunday, 9th June 2019

The Egyptian Natural Gas Holding Company (EGAS) aims to increase gas production by 4.8 billion cubic feet per day (bcf/d) by June 2022, bringing the total gas production in Egypt to about 11.3 bcf/d, Amwal Al Ghad reports.

This comes as the oil and gas sector plans to develop gas fields through 19 projects with a production capacity between 4.5 and 4.8 bcf/d, a source from EGAS said.

The development work of gas fields in the past four years has contributed to unprecedented levels of increase in production, with the current total production of natural gas reaching 6.5 bcf/d, the source added, pointing out that the exploration work in the Red Sea will also bolster gas production.

Egypt’s target for natgas production increases to 7.95 bcf/d in 2019-20 - ENTERPRISE

Tuesday, 21 May 2019

The government has raised its target for natural gas production to 7.95 bcf/d during FY2019-2020, up from 7.5 bcf/d in the current plan, an industry source told the press.

Linking the second development phase of wells at the North Alexandria field, as well as an expected increase in production from the Zohr field, will offset the annual 10% fall in production due to field maturation. 

The ministry is also planning to complete 11 natgas projects by 2023 at a combined investment value of USD 18 bn to increase production by some 2 bcf/d.

Egypt Looks to Offshore Gas Field for Growth and Influence - THE NEW YORK TIMES

March 11, 2019

Clifford Krauss and Declan Walsh

CAIRO — President Abdel Fattah el-Sisi likes to flaunt his plans for modernizing Egypt, like the flashy new administrative capital rising from the desert outside Cairo. But most Egyptians view his rule as a time of painful belt-tightening, with soaring inflation, a currency crash and cuts to subsidies that have made fuel, electricity and water more expensive.

Now there is a ray of hope emerging a hundred miles offshore.

It comes in the form of a windfall natural gas discovery with the potential to lift Egypt’s limping economy, build a new commercial alliance with Israel and maybe, even, revive the country’s diminished regional clout.

Egypt’s gas push is part of a tectonic shift in energy and geopolitics. Natural gas, long a poor cousin to oil, is gaining importance and becoming a tool for countries to leverage power and prestige. Advances in the shipping of liquefied gas have made it a global fuel and strengthened the hand of countries that until recently were not major energy exporters, including the United States and now Egypt.

Egypt signs 7 agreements to explore petrol, gas with investments of $162M - EGYPT TODAY

Wed, Feb. 20, 2019

CAIRO – 20 February 2019: Seven Agreements were signed to explore petrol and gas with minimum investments of $162 million during 2017/2018, an official source at the Petroleum Authority said.

The source elaborated that procedures of 10 new agreements were completed during July and August 2018, noting that 19 contracts were signed to develop the discovered fields until August 2018 in order to support the targeted plans to increase the production of petrol and gas.

He added that 98 exploratory wells were drilled to support and increase the reserves of the petroleum wealth, of which 58 wells were put on production.

According to the source, the petroleum sector succeeded in securing the market needs of petroleum products, as the average production of crude oil hit 626,000 barrels of crude oil and condensates during a year.

Western Burullus production, Eni drilling at Zohr and EGAS exports - ENTERPRISE

Sunday, 20 January 2019

Natural gas production from the Mediterranean’s western Burullus field will begin in 2020, according to an Oil Ministry statement.

Italy’s Eni is expected to finish drilling the 14th well at Zohr natural gas field by the end of January, an EGAS source tells Al Shorouk. The company is currently drilling 12 wells to increase the field’s well count to 20, which is projected to increase production to 3 bcf/d by the end of 2019.

EGAS has exported around 80 bcf of gas in FY2017-18, exported in 10 shipments, according to a report by the company picked up by Al Shorouk. Egypt’s total production of natural gas reached 2.1 tcf in FY2017-18, with an average output rate of 5.8 bcf/d.

Libyan oil revenue dips to $2.4 billion in November: NOC - REUTERS

DECEMBER 28, 2018 / 11:20 AM

DUBAI (Reuters) - Libya’s oil and gas revenue dipped to $2.4 billion in November from $2.87 billion in October, but full-year revenue is expected to surge by 76 percent to $24.2 billion, state oil firm NOC said on Friday.

Although lower than the previous month, November revenue was the third highest monthly figure in 2018, NOC said.

Despite recurrent security problems that have affected output from Libyan oilfields, NOC’s revenue has been boosted this year by higher oil prices and production.

Libya currently produces about 1.15 million barrels per day of oil.

“NOC will continue to drive the economic recovery and provide the funds necessary to ensure a fair distribution of wealth and economic justice across the country,” NOC Chairman Mustafa Sanalla said in a statement.

Egypt to test-run Giza, Fayoum gas fields - MENAFN

December 6, 2018, 8:56:59 AM

Egypt was announced to have decided to test-run Giza and Fayoum fields before this month ends, as part of a plan to boost natural gas output from deep waters.

The trial is to be launched with Egypt aiming to produce an average of 700 million cubic feet of gas a day from the fields by the first quarter of next year.

Since June this year, Egypt was able to see a 10 percent jump in its natural gas production to reach 6.6 billion cubic feet a day.

This increase was recorded after Egypt imposed hikes on production at Zohr offshore gas field for it to stand at 2 billion cubic feet per day.

The country is looking to see its gas production surge to hit 6.75 billion cubic feet per day before this year comes to an end, with a target to turn into an energy hub.

Eni agrees with Petroleum Ministry on $2.6 for gas produced from Farameet well - DAILY NEWS EGYPT

Thursday October 18, 2018

Mohamed Adel

Italian Eni has recently signed an agreement with the Petroleum Ministry regarding the pricing of the gas produced from the Faramid well (TEKMOR Note: East Obayed Concession), which was recently discovered in the company’s concession area in the Western Sahara. The pricing was agreed to be $2.6 per one million thermal units.

A source at EGAS told Daily New Egypt that about 23m cubic feet of gas will be produced daily from the Farameet well.

He pointed out that the well’s production will be connected to Obayed’s gas processing plant, owned by Dutch Shell.

Egypt gas output at 6.6 bln cubic feet per day -official - REUTERS

SEPTEMBER 8, 2018 / 11:38 AM

Reporting by Ehab Farouk, writing by John Davison; editing by Alexander Smith

CAIRO (Reuters) - Egypt’s natural gas output has risen to 6.6 billion cubic feet per day after an increase in production at its mammoth Zohr offshore gas field, an energy official said on Saturday.

Output at Zohr rose to 2 billion cubic feet per day, the petroleum ministry said on Friday.

Egypt aims to be a regional hub for the trade of liquefied natural gas (LNG) after a string of major discoveries in recent years including Zohr, which holds an estimated 30 trillion cubic feet of gas.

Libya oil chief warns output to drop every day as ports halted - WORLD OIL

JULY/9/2018
SALMA EL WARDANY

CAIRO (Bloomberg) -- Libya’s oil output will keep dropping day by day if major ports remain closed after clashes last month led to a political deadlock, the head of the country’s state energy producer said.

“Today, production is 527,000 bpd, tomorrow it will be lower, and after tomorrow it will be even lower and everyday it will keep falling,” Mustafa Sanalla, chairman of the Tripoli-based National Oil, said in a video statement posted on the company’s Facebook page. The nation was producing more than twice that amount before fighting in February forced an oil field in western Libya to shut down, he said.

Sanalla urged Khalifa Haftar, an army commander in the politically divided nation’s east, to transfer control of the closed oil ports to the NOC in Tripoli.