Eni purchases 70% stake in Habi offshore gas concession - OILFIELD TECHNOLOGY

Friday, 25 October 2019 12:00

As reported by Reuters, Eni has bought 70% of Edison’s stake in Block 12 of the offshore Habi gas concession in Egypt’s eastern Mediterranean, an official at state-owned Egyptian gas company EGAS said yesterday.

Edison won Block 12 in a bidding round run by EGAS in 2015.

Energean growing Mediterranean operations with Edison E&P acquisition - OFFSHORE MAGAZINE

Edison E&P portfolio overview

Jul 8th, 2019

LONDON – Energean has conditionally agreed to acquire Edison Exploration & Production (Edison E&P) from Italy’s Edison for $750 million.

An additional $100 million could be payable following first gas from the Cassiopea gas development offshore Sicily, which is expected to come onstream in 2022. Eni discovered the field in 2008, reportedly in a water depth of 560 m (1,837 ft) and 22 km (13.7 mi) from the coast of Agrigentos.

Edison E&P has producing assets in Egypt, Italy, Algeria, the UK North Sea and Croatia; development assets in Egypt, Italy and Norway; and exploration opportunities across the portfolio.

The company has 2P reserves of 292 MMboe and 2018 net production of 69,000 boe/d.

Energean’s goal is to become the leading independent, gas-focused E&P company in the Mediterranean region, and the Edison portfolio should complement its own interests, the company said.

The enlarged group will have total 2P reserves of 639 MMboe and will be one of the largest independent E&P companies listed on the London and the Tel Aviv Stock Exchanges.

Edison has not abandoned Egypt concessions - ENTERPRISE

Thursday, 20 December 2018

Italy’s Edison says it has not given up oil and gas exploration rights in Egypt: Edison, the Italian oil company that is part of France’s EDF, has denied reports in the domestic press (which we noted yesterday) that it has forfeited its right to explore for natural gas in the northeastern Hapi and Theqa concessions. “Edison is committed to pursue and to fulfill its exploration campaign in its East Mediterranean concessions in 2019,” the company said in an emailed statement. The company “is currently preparing important drilling campaigns for, as initially planned, two exploration wells in East Med, respectively in North Thekka and North East Hapy concessions,” it said. In addition to drilling in 2019 at a third concession, the company says it will launch a USD 200 mn development program at two offshore concessions in the Nile Delta, expecting first gas in 1Q2021.

Edison gives up exploration rights in North East concessions - ENTERPRISE

Wednesday, 19 December 2018

Italy’s Edison has forfeited its natural gas exploration rights in North East concessions Hapi and Theqa (aka Thekah), local news reported. 

A new international tender for the concessions will be launched next year, an Oil Ministry source said, without specifying a time frame. 

Edison signed a USD 86 mn agreement with EGAS in January 2017 for E&P operations. 

Oil Minister Tarek El Molla said in July the Italian company would begin drilling exploratory wells at the concessions in 2H2019.

Edison to begin drilling exploratory wells in Mediterranean concessions in 2H2019 -ENTERPRISE

Sunday, 29 July 2018

Italy’s Edison will begin drilling exploratory wells at its North East Hapi and Theqa (Thekah) concessions in 2H2019, Oil Minister Tarek El Molla said. 

The company’s studies of the concessions show geological structures that indicate there is a “good chance” the areas hold natural gas reserves. 

Edison had signed an USD 86 mn agreement with EGAS in January 2017 for E&P operations.

Edison looking for a partner to drill at North East Hapi concession - ENTERPRISE / AL SHOROUK

Monday, 12 June 2017

Italy’s Edison is looking for a partner to begin drilling the first deepwater well at its North East Hapi concession. 

Drilling costs could surpass USD 100 mn, an unnamed EGAS source tells Al Shorouk. 

Edison had signed an USD 86 mn agreement with EGAS in January for E&P operations and drilling two new wells in the concession.

Players’ healthy interest outside Egypt’s Nile Delta - ENERGY EGYPT / UPSTREAM ONLINE

February 11, 2017

Future upstream licensing in Egypt’s Nile Delta offshore province may be facing a hiatus, but the most recent round to have been completed by state-owned Egyptian General Petroleum Corporation signalled healthy interest by players in other acreages.

Smaller, cash-strapped players were not much in evidence during the 2016 round, covering acreage in the Gulf of Suez and Western Desert, but US player Apache, a stalwart in the latter play, Anglo-Dutch supermajor Shell and its UK counterpart BP all took on acreage.

Apache won the North-West Razzak and South Alam El Shawish blocks in the Western Desert, where it is the dominant oil producer, while in the same region Shell picked up North Umbaraka.

BP took on North-East Ramadan in the mature Gulf of Suez, where it has long been dominant.

One newcomer in the round was US private equity-backed Apex International Energy, which won South-East Meleiha and West Badr El Din in the Western Desert.

Egyptian state gas operator EGAS, on the other hand, missed a bid round last year.

Its most recent tender in 2015, carried out before the Zohr discovery, was regarded as disappointing by some as it saw only four out of the 12 blocks on offer taken up.

However, any disappointment was tempered by the fact that the acreage awarded was taken on by major European companies, including a significant newcomer.

France’s Total made its debut in Egypt by earning a share in the North El Hammad block in partnership with BP and Eni, while the latter two also took on North Ras El Esh and BP went solo at North El Tabya.

The final block, Northeast Hapy, was secured by Edison of Italy.

SOURCE/Upstream Online

Italy's Edison to explore gas and oil in Egypt with $86mln - AMWAL AL GHAD

Thursday, 05 January 2017 16:09
Mahmuod Shaaban

Egyptian Natural Gas Holding Company (EGAS) signed a new oil agreement with Italy's Edison to explore and produce oil and natural gas in North East Haby area in the Mediterranean Sea.

The investments of the agreement are estimated at more than US$86 million and a signature bonus of US$1.5 million , to drill two exploration wells.

The agreement was signed by Egypt's Oil Minister Tarek El-Molla and Mohamed El Masry -EGAS Chairman- and Maurizio Coratella, Vice President for Edison’s E&P activities for Egypt and the Middle East in the attendance of officials at the Egyptian ministry.