Energean appoints Stena drillship for development drilling at Israel's Karish field - WORLD OIL

Stena Forth Drillship

JAN/29/2018

ATHENS -- Energean Oil & Gas is pleased to announce that Energean Israel has signed a contract with Stena Drilling for the development drilling of Karish field, offshore Israel.

Pursuant to the contract, Stena Drilling will deploy the Stena Forth drillship (or such substitute as may agreed by the parties) to drill three development wells in first-quarter 2019 (with provision made for further options), subject to Energean’s Final Investment Decision (FID) regarding the Karish and Tanin fields.

The Stena Forth, one of the DrillMAX Fleet vessels, is a DP Class 3 ultra-deepwater drillship with a track record in world-wide operations, ranging from the Mediterranean (Libya), Egypt (Gulf of Suez), Malaysia, Greenland and the U.S. (Gulf of Mexico).

5 projects achieve natural gas self-sufficiency for Egypt in 2018 - DAILY NEWS EGYPT

January 29, 2018

The Ministry of Petroleum aims to increase its production of natural gas by working to make five gas projects operational, on top of which comes the completion of Zohr gas field’s first phase and beginning the second phase of the Northern Alexandria West Delta deep field.

The ministry plans to complete the first phase of Zohr development project in the deep waters of the Mediterranean in June, and for production to gradually reach over 1bn cubic feet of gas per day, up by some 700m cubic feet per day now, after announcing early production from the well.

The giant Zohr field is among the most important discoveries achieved by the petroleum sector in recent years. The find was made by the Italian company Eni in August 2015, with reserves of some 40tn cubic feet of gas. It is expected to help Egypt surpass its sharp gap in energy supplies. The first phase of the project costs about $5bn.

Noble Energy Announces Tamar Sell-Down - NOBLE ENERGY / GLOBE NEWSWIRE

Houston, Jan. 29, 2018 (GLOBE NEWSWIRE) --

Noble Energy, Inc. (NYSE: NBL) ("Noble Energy" or "the Company") today announced that it has signed a definitive agreement to divest a 7.5 percent working interest in the Tamar field, offshore Israel, to Tamar Petroleum Ltd. (TASE: TMRP) ("Tamar Petroleum") for cash proceeds of approximately $560 million and 38.5 million shares of Tamar Petroleum. Based upon today's closing price of Tamar Petroleum, total consideration of this transaction is approximately $800 million. This follows an initial divestment of 3.5 percent of the Tamar field in mid-2016. Combined proceeds from both transactions total nearly $1.25 billion, including almost $1 billion in cash.

EU to fund planning of pipeline from Leviathan to Europe Leviathan gas field Photo: Noble Energy - GLOBES

29 Jan, 2018 11:06

Amiram Barkat and Sonia Gorodeisky

The EU has allocated €34.5 million to complete planning, so that a decision can be made about the pipeline.

The European Union (EU) will fund the detailed planning for laying a natural gas pipeline from Israel's Leviathan offshore gas reservoir to Europe. On January 25, the European Commission in Brussels published a list of its priority clean energy projects for 2018 that will receive €873 million in aggregate funding.

The project, called EastMed, is for an undersea pipeline from Leviathan through Cypriot waters to Crete and Italy. The EU has allocated €34.5 million to complete planning, so that a final decision can be made about investing in the project in 2019.

Price, not politics, stymying East Med gas - CYPRUS MAIL

January 28, 2018
Charles Ellinas

The greatest problem making exports of East Med gas, especially from Cyprus and Israel, challenging and difficult, is not political risk, but commercial due to the low global gas prices. You experience political risk when you reach the point of selling. If the prospect of selling is not there, where is the risk?

Exploring and discovering the gas has not been stopped due to political risk. But despite strong EU support, neither Cyprus nor Israel are anywhere near selling their gas to Europe. They cannot find buyers.

The key limiting factor is price.

New seismic surveys in Shorouk concession to uncover further reserves - ENTERPRISE

January 28, 2018

New seismic surveys are underway in the Shorouk concession in the Mediterranean Sea, Oil Minister Tarek El Molla said last week, Al Shorouk reports. The surveys are meant to uncover further reserves in the Zohr gas field, which is in the concession.

GANOPE has also completed seismic mapping for 4,200 km in the Red Sea in preparations to issue blocks there for a bid round, Chairman Mahmoud El Shimy said, according to Al Masry Al Youm. The maritime border demarcation agreement with Saudi Arabia allows for tendering blocks in the Red Sea for oil and gas E&P for the first time.

Ministerial committee resolves TAQA Arabia dispute with EGAS - ENTERPRISE

Sunday, 28 January 2018

The Ministerial Committee for Settlement of Investment Disputes announced a settlement has been reached in a dispute between Qalaa Holdings subsidiary TAQA Arabia and EGAS. The dispute arose when EGAS did not fulfil contractual requirements towards TAQA and assigned natural gas distribution rights to separate companies, resulting in losses to TAQA estimated to be EGP 7 bn. The resolution reached between the parties does not entail any direct payments by the Egyptian government, but amends some contractual clauses between EGAS and TAQA. Our friend Moustafa El Bahabety, the Deputy Justice Minister for Arbitration and International Disputes, who is the head of the organization’s technical committee, informed us that the resolution signed off by the Ismail cabinet at its meeting last week.

Egypt to halt imports of LNG by end of FY 2017/18 - minister of petroleum - REUTERS

CAIRO, Jan 27 (Reuters)

Reporting by Momen Abdelkhalek; Writing by Eric Knecht; Editing by Jeremy Gaunt

Egypt plans to stop importing liquefied natural gas (LNG) by the end of the 2017/18 fiscal year ending in June as it speeds up production at recently discovered gas fields, Petroleum Minister Tarek El Molla said on Saturday.

Egypt said previously that it would halt imports by the start of 2019.

Molla said the country will save $250 million per month by no longer importing LNG. 

Cyprus receives €101MM grant for FSRU project - HYDROCARBON PROCESSING

JAN/25/2018

Connecting Europe announced on January 25 that it will support the introduction of natural gas in Cyprus through the CyprusGas2EU project (EU support of €101 MM).

The grant will help end the present energy isolation of the Cyprus, bring diversification to a region dominated by a single source of supply, and help reduce air pollution and emissions by allowing switching from heavy fuel oil to gas for power generation. It will also improve energy security and price competitiveness.

Read the full press release from the European Commission here.

Gulf Publishing Company will host the fifth incarnation of its Eastern Mediterranean Gas Conference (EMGC) in Nicosia, Cyprus,from 21–22 March 2018. The conference provides attendees with the latest and most accurate information on the region’s developing natural gas industry, and the ability to gain entry to regional markets and seek potential new business partners.

EGAS to issue bid round in 1H2018 - ENTERPRISE

Wednesday, 24 January 2018

EGAS is planning on having a bid round for oil and gas exploration in east Mediterranean and onshore Delta blocks in 1H2018, Chairman Osama El Bakly said, according to Al Masry Al Youm. 

EGAS will also move ahead with its seismic mapping of blocks in west Mediterranean before setting them up for a bid round.

CORRECTED-Noble Energy says to expand Israel activity amid natgas success -REUTERS

JANUARY 24, 2018 / 12:58 PMReporting by Steven Scheer; Editing by Maayan Lubell and David Evans

(Corrects Noble official’s title)

JERUSALEM, Jan 24 (Reuters) - U.S.’s Noble Energy said on Wednesday it plans to expand in Israel ahead of the 2019 start of production at the large Leviathan natural gas site off Israel’s Mediterranean coast.

Texas-based Noble owns some 40 percent of Leviathan, which has estimated gas reserves of 622 billion cubic meters -- mostly earmarked for exports -- while Israeli conglomerate Delek Group owns another 45 percent through two subsidiaries.

Noble also holds 32.5 percent of the Tamar field, Israel’s primary supply of natural gas, although it must reduce its holding to 25 percent by 2021 under government plans to open the market to competition.

Gazprom gets go-ahead for second TurkStream offshore gas pipeline - OFFSHORE

JAN/23/2018

MOSCOW – The Turkish authorities have awarded Gazprom a construction permit for the second string of the TurkStream gas pipeline’s offshore section through the Black Sea, terminating at the Turkish coast.

TurkStream operations are in progress at three sections: onshore in Russia and Turkey and offshore in the Black Sea.

Allseas has completed laying more than 760 km (472 mi) of the two offshore strings since the program started last May. Construction of the landfall in Russia is nearly completed, while in Turkey, work has started at the construction site of the receiving terminal.

Gazprom now has all required permits from the Turkish government for the offshore area, and this means both strings of the gas system should be in operation on time, before the end of 2019, said the company’s chairman Alexey Miller.

Transport ministry hits back in Limassol port dispute - CYPRUS MAIL

A EDT barge at Limassol port

JAN 22, 2018

Claims by the oil and gas services company EDT operating out of Limassol port that they have incurred damages because of omissions by the transport ministry are completely out of touch with reality, the ministry said on Monday.

In a brief statement following press reports that EDT was suing the government for €150m, the transport ministry said the claims had no legal basis, according to advice from their legal advisors.

On Sunday, left-wing Haravghi newspaper ran an article saying that according to the lawsuit, EDT claimed that since October 2016, the transport ministry and the minister, Marios Demetriades, kept giving assurances that developments regarding the privatisation of the port would “not cause any disturbance to the functioning of the work of our company “.

Operations at Limassol port were privatised at the beginning of last year.

The report also claimed that the ministry, through the Cyprus Ports Authority, handed down ultimatums to the company which effectively ended discussions that could have resolve outstanding issues although it did not specify what they were.

Egypt paid $200 mln in foreign oil company arrears in Jan - finance minister - REUTERS

JANUARY 21, 2018 / 9:09 AM

Reporting by Ehab Farouk; Editing by Muralikumar Anantharaman

CAIRO, Jan 21 (Reuters) - Egypt’s Finance Minister Amr El Garhy said on Sunday the country had paid $200 million in arrears owed to foreign oil companies in January, and would pay another $550 million in February and March.

Egypt owed foreign oil companies $2.4 billion at the end of June 2017, the petroleum ministry said this week. There was no newer figure.

Cairo has pledged to eliminate arrears by the end of June 2019 and not to accumulate more, part of its drive to draw new foreign investment to an energy sector that is attracting interest following several major gas discoveries. 

First step toward EU funding to aid gas imports - CYPRUS MAIL

January 17 2018

Energy Minister Giorgos Lakkotrypis: funding 'a decisive step towards the import of LNG for power generation'

Cyprus has been approved for preliminary EU funding of €101m to construct infrastructure for the import of liquefied natural gas (LNG) for power generation, Energy Minister Giorgos Lakkotrypis said on Wednesday.

The approval is a response to Cyprus’ application seeking assistance in importing LNG to decrease the island’s reliance on imported oil for producing electricity ahead of the extraction of its own gas.

The approved amount, Lakkotrypis said, is around 40 per cent of the estimated cost.

The proposal, he said, was jointly submitted to key EU funding instrument Connecting Europe Facility (CEF), by the energy and transport ministries.

The amount is pending the approval of the other member states.

The preliminary approval of the €101m, Lakkotrypis said, “is a decisive step towards the import of LNG for power generation”.

EastMed pipeline provides viable route for stranded gas in Mediterranean - OFFSHORE TECHNOLOGY / GLOBAL DATA ENERGY

Development NPV10 with Varying Gas Price / Source: Upstream Analytics © GlobalData

17 JANUARY 2018

The proposed Eastern Mediterranean Natural Gas (EastMed) pipeline spans 1,300 kilometers (km) (808 miles (mi)) offshore and 600 km (373 mi) onshore, starts in Israel and has exit points in Cyprus, Crete and Greece.

The pipeline, proposed by IGI Poseidon, a 50:50 joint venture by DEPA and Edison, has a planned capacity of 1.2 to 1.5 billion cubic feet per day (bcfd). Both companies benefit from additional gas volumes to distribute to end-users.

Greece gets interest for new offshore oil and gas tenders: licensing body - REUTERS

JANUARY 17, 2018 / 1:28 PM / A DAY AGO

ATHENS, Jan 17 (Reuters) - Tenders for offshore oil and gas exploration and exploitation west and south of Greece have attracted “strong interest” from companies exploring in the Mediterranean, the head of Greece’s oil and gas resources management company said on Wednesday.

Egypt’s role indispensible in developing east Med gas hub -Butler - ENTERPRISE /FINANCIAL TIMES / AL SHOROUK

Tuesday, 16 January 2018

Egypt can once again become an energy exporter and “build on its existing role as one of the most important trading hubs in the region, ideally placed to link western and eastern markets,” Nick Butler writes for The Financial Times. “Egypt’s opportunity is that it finds itself at the crossroads of the emerging international trade in natural gas,” Butler writes. The potential collaboration on natural gas export between Egypt, Cyprus, Israel, and even potentially from Lebanon leaves Turkey as the loser regionally after having “destroyed its opportunity to provide an export route for gas from Cyprus by trying to link trade to a settlement of the island’s longstanding territorial division.” Butler insists that Egypt’s role will be vital in any major development, saying “in the Middle East nothing is ever simple and there will many a slip before the new pattern of trade is in place. But if the eastern Mediterranean is to be developed, Egypt’s role as the new regional trading hub looks indispensable.”

Gas supply changes in Turkey - NATURAL GAS WORLD / THE OXFORD INSTITUTE FOR ENERGY STUDIES

Jan 10, 2018 11:59:pmOIES | Gulmira Rzayeva

SUMMARY

The Turkish government is in the process of making significant structural changes in the country’s energy sector in attempts to lessen its dependence on current import and transmission infrastructure capacity which is constrained and cannot meet gas demand in peak periods.

The Turkish government is in the process of making significant structural changes in the country’s energy sector in attempts to lessen its dependence on current import and transmission infrastructure capacity which is constrained and cannot meet gas demand in peak periods. It intends to diversify supply sources and gas import types (both pipeline gas and LNG/FSRU) to ensure imports are available from a wider range of available sources on competitive terms, at the same time storing more gas in the country once downstream infrastructure capacity allows, to export the excess of gas in the future.

 Consequently, BOTAŞ expects its maximum daily gas supply capacity to almost double by 2023, from the current 252 mcm/d (including storage capacity) to 473 mcm/d as new projects come on stream. This will extend Turkey’s ability to import gas from various sources by eliminating technical constraints. By doing so, Turkey intends to ensure supply security during the peak demand seasons and to reduce its dependence on existing suppliers, allowing it room to manoeuvre between them and other new options. 

Turkey is also expanding capacity at its existing LNG receiving terminals and building new FSRUs, taking advantage of the fact that this method of importing natural gas is available in a flexible and near immediate manner. This will give BOTAŞ and private companies an advantage in meeting the growing demand in winter time, instead of having to increase annual pipeline contract quantities (ACQ) due to the application of “take or pay” clauses.

Introducing Zohr - EGYPT TODAY

Sat, Jan. 13, 2018
Doaa Farid 

CAIRO - 13 January 2018: Egypt officially started operations of the Mediterranean’s giant gas field Zohr last month, less than two and a half years since its discovery
and is currently producing 350 million cubic feet a day.

Development works of Zohr went faster than scheduled, as the initial plan was to start production in 2019. But the government is now expecting self-sufficiency of natural gas before the end of 2018, with gas production amounting to 6 billion cubic feet a day. The 350 million cubic feet per day output is the first result of a series of phases in the field. Minister of Petroleum and Mineral Resources Tarek El Molla announced in late December that the first phase of the project would be finalized in June 2018, when production will hit more than 1 billion cubic feet a day. Zohr gas is now pumped through the national grid, processed at the Ministry of Petroleum’s gas treatment plant in Port Said. The newly added production capacity pushed up Egypt’s natural gas production to 5.5 billion cubic feet per day, up from 5.1 billion.

Discovered in 2015 by Italian energy company Eni, Zohr gas field covers an area of 100 square meters with a depth of 1,450 meters. Investing around $10 billion in the project, Eni estimates a total output of approximately 30 trillion cubic feet of gas. The new field will help secure energy needs of a country that consumes around 6 billion cubic feet of gas a day, with 65% of them going toward the electricity sector.

Shell's Gaza Gas Field Sale Hits Problems - HART ENERGY / REUTERS

Friday, January 12, 2018 - 12:20pm

It may prove to be Royal Dutch Shell Plc's (NYSE: RDS.A) hardest sell. The Anglo-Dutch group is struggling to find a buyer for its gas field off the Gaza Strip, even among energy companies long used to dealing with projects fraught with political and security risks.

At least one European company has shown interest in the undeveloped Gaza Marine Field following a reconciliation deal in October between the two rival Palestinian factions, a source involved in the talks said.

But the firm's discussions over the field, located about 30 km (20 miles) off the Gaza coast, have ground to a halt since tensions in the wider region have taken a fresh turn for the worse, the source told Reuters.

"Until the political situation is resolved I really can't see anything happening here," he said.

Gaza Marine has long been seen as a golden opportunity for the cash-strapped Palestinian Authority to join the Mediterranean gas bonanza, providing a major source of income to reduce its reliance on foreign aid.

At Rome ‘Club Med’ summit, Greece gets a line on TAP gas to Italy - NEW EUROPE

JANUARY 12, 2018, 18:49 
Kostis Geropoulos

But East Med exports from Cyprus, Israel still pipe dream for now

As heads of state and government of Cyprus, France, Greece, Italy, Malta, Portugal and Spain, or so-called “Club Med,’ convened in Rome on January 10 for the fourth Summit of the Southern European Union countries, Cyprus President Nicos Anastasiades reportedly discussed energy issues with French President Emmanuel Macron and Italian Prime Minister Paolo Gentiloni. Currently, Italian energy major ENI and France’s Total are drilling for natural gas in Cyprus’ exclusive economic zone (EEZ). Also in Rome, Greek Prime Minister Alexis Tsipras and Gentiloni reportedly discussed energy cooperation. Greece and Italy are cooperating to bring Caspian gas to Europe via the Trans Adriatic Pipeline.

Connecting with the Trans Anatolian Pipeline (TANAP) at the Greek-Turkish border, TAP will cross Northern Greece, Albania and the Adriatic Sea before coming ashore in Southern Italy to connect to the Italian natural gas network.

Why Turkey supports TurkStream, TANAP? - ANADOLU AGENCY

11.01.2018 

Murat Temizer

With TANAP and TurkStream, Turkey will gain spare capacity for extra gas imports from new sources and for future re-exports

ANKARA - Turkey's new supply sources with new TANAP and TurkStream natural gas pipelines will help supply security and help meet demand surges in line with the Turkish government's energy policy to diversify sources, according to the latest report of the Oxford Institute for Energy Studies (OIES) on Thursday.

The Gas Supply Changes in Turkey report written by Gulmira Rzayeva, a fellow in the OIES discerned that the Turkish government is in the process of making significant structural changes to the country’s energy sector and the country expects two natural gas pipeline projects to be operational in the near future.

Israeli bank eyes Energean gas field development project - KATHIMERINI /REUTERS

10.01.2018 : 20:36

Bank Hapoalim wants to take a more active role in Israel’s growing natural gas sector and hopes to lead funding for two offshore gas fields being developed by a Greek energy firm, a bank official said on Wednesday.

Greece’s Energean has said it expects to spend up to $1.5 billion to tap the Karish and Tanin fields, which are situated off Israel’s coast and have combined gas reserves estimated at 2.4 trillion cubic feet.

“Until today, Bank Hapoalim, and the local financing market in general, have given funds as part of a consortium, but never leading it,” said Itamar Furman, who manages the energy sector at Hapoalim, Israel’s biggest bank.

Egypt's gas transmission strategy - PETROLEUM ECONOMIST

10 January 2018

Gerald Butt

With natural gas from the super-giant Zohr field now flowing ashore, plans are in place to make distribution of the fuel more efficient and to expand wind power

For the Egyptian government, 20 December 2017 was a red-letter day. It was when Eni produced first gas from the Zohr field 190km (118 miles) from the coast. Zohr is by far the biggest natural gas discovery in the Eastern Mediterranean, with estimated reserves of 30 trillion cubic feet. The arrival of Zohr gas ashore—at an initial rate of 350m cubic feet a day, rising to 1.2bn cf/d under Phase 1—is a major factor in the Egyptian government's decision to phase out liquefied natural gas imports during the course of this year and prepare for the restart of exports.

But the priority for the Egyptian authorities is to make sure that domestic demand for gas is satisfied—in particular for power generation. Nothing is more calculated to stoke social unrest than lengthy power cuts in Cairo and other overcrowded cities during the stiflingly hot summer months.

Germany’s DEA eyes boosting investment in Egypt - EGYPT TODAY

Wed, Jan. 10, 2018

CAIRO – 10 January 2018: Germany’s DEA Group planned to pump more investments in Gulf of Suez and Disouq regions in Egypt, CEO of the group Maria Moraeus Hanssen said Wednesday.

In a meeting with Minister of Petroleum Tarek El-Molla, Hanssen stated that Egypt is now an attractive investment destination especially after latest gas production from new fields, such as Zohr giant field and North Alexandria concession.

Oil and gas services subject to the VAT - ENTERPRISE

Wednesday, 10 January 2018

The Finance Ministry will be applying the value-added tax on 20 petroleum services that had been subject to a sales tax, according to Al Mal. 

While E&P operations are still exempt from the VAT, ancillary goods and services provided to operations at rigs are not. 

The list sent to the Oil Ministry last week includes medical and social services, supplying sites with passenger cars and spare parts, prepaid mobile phone cards, alcoholic beverages and tobacco, sportswear and gear, accounting services, as well as tour organization and operation, among others.

Geopolitics cloud prospects for East Mediterranean gas finds - FINANCIAL TIMES / ENERGY EGYPT

January 9, 2018

Fields are attractively close to Europe but political risks make development complex.

When gas started flowing from the Zohr field last month it was an important step in Egypt’s drive for energy independence and signified that the eastern Mediterranean was finally establishing itself as a force in gas production.

Claudio Descalzi, chief executive of Eni, the Italian group leading the $12bn project, said Zohr would “completely transform Egypt’s energy landscape, allowing it to become self-sufficient and turn from an importer of gas into a future exporter”.

Zohr is the largest hydrocarbon discovery made in the Mediterranean and the hunt is on for more. Israel and Cyprus see similar potential to end dependency on energy imports and generate an economic windfall by exporting surplus supplies. Lebanon is also opening its waters to exploration.

BTE2 Well Adds 25 mscf/d to Natural Gas Production - EGYPT OIL & GAS

Monday, 8th January 2018

Egypt’s BTE2 Well, which is operated by Royal Dutch Shell’s Joint Venture in Egypt, Badr El Din Petroleum Company (BAPETCO), has started production phase on January 7th, increasing the country’s natural gas output by 25 million standard cubic feet per day (mscf/d), which is planned to be increased to 50mscf/d after completing the drilling of BTE1 Well, Badr 3 Wells’ Manager, Anton Artes, told Al-Ahram Gate.

Egypt could replace Qatar as the main supplier of LNG to the UAE and Oman - ENTERPRISE

Monday, 8 January 2018

Egypt could replace Qatar as the main supplier of LNG to the UAE and Oman once we reach self-sufficiency by the end of the year, The National’s Jennifer Gnana says. 

Egypt’s imports of LNG have declined as it increases domestic production, but demand in other countries in the region is expected to continue increasing as LNG “forms part of a critical mix in the drive towards cleaner energy in the GCC.” 

While Qatar currently supplies its Gulf neighbors with LNG through a pipeline, recent political fallout has pushed the region’s biggest consumers to look elsewhere to supply their consumption. 

Egypt, “which enjoys warmer political ties with the UAE and Saudi Arabia, could look to supply its regional neighbors,” particularly when it ramps up production from the Zohr gas field, Gnana says.

Turkey will not risk actively disrupting Cyprus’ energy plan, Greek minister says - CYPRUS MAIL

The exclusive economic zones of Greece and Cyprus as per UNCLOS

January 7, 2018

Any attempt on the part of Turkey to foment a fait accompli in Cyprus’ maritime area would be irrational and Ankara would not take such a risk, according to Dimitris Vitsas, Greece’s Alternate Minister of National Defence.

In an interview with the Cyprus News Agency, Vitsas also said he does not expect Ankara “to risk a defeat”, when asked about the possible emergence of a Turkish drillship in the area, and Athens reaction to such a move.

A Turkish fait accompli in Cyprus’ maritime area would be irrational, Greek Minister tells CNA - CYPRUS NEWS AGENCY

CYPRUS/Nicosia 07/01/2018 11:12 
Antonios Gkildakis

Any attempt on the part of Turkey for a fait accompli in Cyprus’ maritime area would be irrational, says Dimitris Vitsas, Greece’s Alternate Minister of National Defence, while noting that cooperation between Athens and Nicosia takes all options into account.

In an interview with the Cyprus News Agency, Vitsas also says that he does not expected Ankara “to risk a defeat”, when asked about the possible emergence of a Turkish drillship in the area, and Athens’ reaction to such a move.

Speaking about efforts for a Cyprus settlement, the Greek government official says that the Turkish side must realize that stagnation does not lead anywhere.

Egypt's Zohr: Towards self-sufficiency in gas? - AHRAM ONLINE

Friday 5 Jan 2018
Amany Ismail

Egypt’s Zohr Field, the largest offshore natural gas field in the Mediterranean, started production on 16 December. It could prove to be a permanent remedy to Egypt’s power needs and bring it closer to the goal of self-sufficiency in the energy sector in 2018.

Saudi Aramco shows interest to do business in Cypriot EEZ - CYPRUS NEWS AGENCY

04/01/2018 10:36 

CNA - CYPRUS/Nicosia

Saudi Arabian oil company Saudi Aramco has expressed interest to do business in Cyprus’ Exclusive Economic Zone, according to a PIO press release.

It is noted that on the sidelines of President Anastasiades’ official visit to Saudi Arabia, Energy Minister George Lakkotrypis held contacts with officials of the Saudi Ministries of Energy and Tourism as well as with officials of Saudi Aramco, a worldwide giant on oil.

According to PIO, during the meeting , the Saudi Aramco representatives expressed interest to do business in Cyprus' EEZ, mainly because of the stability of Cyprus as an EU member state as well as its geology and perspectives as an energy centre.

Cypriot Energy Minister meets Saudi Aramco - LAKKOTRYPIS TWITTER ACCOUNT

Saudi Aramco's President & CEO Amin H. Nasser (left) with Yiorgos Lakkotrypis, Cypriot Energy Minister (right)

Lakkotrypis' tweet (3/JAN/2018: Excellent meeting with @Saudi_Aramco President & CEO Amin H. Nasser. Very pleased to discuss #Saudi interest in #Cyprus #EEZ and our region.

Cabinet approves India-Israel MoU to boost oil and gas sector - OUTLOOK INDIA

03 JANUARY 2018 Last Updated at 4:14 PM

New Delhi [India] - The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the signing of a Memorandum of Understanding (MoU) between India and Israel on cooperation in the oil and gas sector.

The MoU is expected to provide an impetus to India - Israel ties in the energy sector.

The cooperation envisaged under the agreement will facilitate promotion of investments in the two countries, technology transfer, R&D, conducting joint studies, capacity building of human resources and collaboration in the area of startups.

Oil Ministry to issue oil and gas exploration tenders for Red Sea concessions soon - ENTERPRISE

Tuesday, 2 January 2018

The Oil Ministry is preparing to sign 12 new oil agreements with a combined investment value of at least USD 433 mn, Minister Tarek El Molla said yesterday, Al Masry Al Youm reports. 

The ministry is also gearing up to issue the first international tenders for oil and gas exploration along Egypt’s Red Sea border with Saudi Arabia. 

The tenders are contingent on geological scans in the area, which industry sources had previously said should be complete sometime in 1H2018.

Jordan allocates initial $2 million for joint pipeline project with Israel - MIDDLE EAST MONITOR

January 2, 2018 at 3:07 am

The gas will mostly be coming from the offshore Leviathan natural gas field, being developed off the coast of Haifa

Jordan has allocated 1.5 million dinars (around $2.1 million) in the 2018 national budget for a gas pipeline linking the Hashemite Kingdom with Israel. According to Al-Ghad newspaper on Sunday, the cost of the joint Jordanian-Israeli project is expected to rise to 3 million dinars ($4.2 million) in 2019, and to 6 million dinars ($8.5 million) by 2020. The pipeline will pass over the Sheikh Hussein border crossing, 90 km from Amman.

In September 2016, Jordan’s government-owned National Electric Power Company (NEPCO) and Noble Energy signed an agreement to import 40 per cent of the Kingdom’s electricity-generating needs from Israel. Noble Energy owns 39 per cent of the Leviathan natural gas field in Israeli territorial waters.

Y. Lakkotrypis: The next 12 months will be defining for natural gas - PHILELEFTHEROS

Lakkotrypis, Cypriot Energy Minister (left)

1 January 2018, 1:10 pm 

Andreas Pimbishis

Note: Please use Google translation tool (right click anywhere on the Greek text) for this interview in Greek of Cypriot Energy Minister Yiorgos Lakkotrypis by Cypriot daily 'The Liberal / Phileleftheros'.


Γ.Λακκοτρύπης: Καθοριστικοί οι επόμενοι 12 μήνες για ΦΑ - ΦΙΛΕΛΕΥΘΕΡΟΣ

Οι επόμενοι 12 μήνες και οι γεωτρήσεις που θα γίνουν μέχρι το τέλος του 2018 θα καθορίσουν το τοπίο σ’ ό,τι αφορά στις επιλογές που έχει η Κύπρος για εκμετάλλευση του φυσικού αερίου. Σύμφωνα με τον υπουργό Ενέργειας, Γιώργο Λακκοτρύπη, «σήμερα έχουμε επιβεβαιωμένες ποσότητες ΦΑ 4.5 TCF (μέσος όρος).

Με αυτές τις ποσότητες η βέλτιστη επιλογή για εκμετάλλευση του ΦΑ είναι να το κατευθύνουμε με υποθαλάσσιο αγωγό προς την Αίγυπτο, εκεί να υγροποιηθεί σε ένα από τα δύο τερματικά της χώρας και να διοχετευθεί στις αγορές, πρωτίστως της Ευρώπης, με πλοία». Ξεκαθάρισε πως το Τερματικό Υγροποίησης είναι στις κορυφαίες μας προτεραιότητες, όπως έχει επανειλημμένα λεχθεί.

Ο Γ. Λακκοτρύπης αποκαλύπτει πως έχουν μελετηθεί 16 σενάρια για τις επόμενες γεωτρήσεις τα οποία κυμαίνονται από το χειρότερο, που είναι να μην υπάρξει άλλη ανακάλυψη πέραν του «Αφροδίτη» μέχρι και το καλύτερο που είναι ανακάλυψη φυσικού αερίου και στις τέσσερις γεωτρήσεις.

Israeli pipeline, once a link to Iran, will remain a mystery - REUTERS

DECEMBER 31, 2017 / 2:50 PMReporting by Ari Rabinovitch, editing by Larry King

JERUSALEM (Reuters) - An oil pipeline company established decades ago by Israel and Iran, and a new Israeli company that is meant to replace it, can continue to operate secretly, an Israeli parliamentary committee ruled on Sunday.

The Eilat-Ashkelon Pipeline Co (EAPC) was a joint venture set up in 1968, when the two nations were friendly, to transport Iranian oil via Israel to the Mediterranean. Ties were cut after Iran’s 1979 Islamic revolution, and the enemies are now locked in arbitration that could be worth billions of dollars.

SCPX project: construction complete at majority of facilities in Georgia - TREND NEWS AGENCY

30 December 2017 10:04 (UTC+04:00)

Construction work has been completed at majority of facilities as part of the South Caucasus Pipeline Expansion (SCPX) project in Georgia, Trend learned from Georgia’s Ministry of Economy and Sustainable Development.

"SCPX compressor stations’ construction is progressing. The first compressor station (CSG1), as well as pressure reduction station at Georgian-Turkish border (Area 81), the 62-kilometer SCPX pipeline extension, including connection with TANAP at the Turkish border is completed," said the source in the ministry.

The construction of the second compressor station (CSG2) is 90 percent complete, added the source.

"The expansion of South Caucasus pipeline is one of the most important developments in terms of energy security of Georgia and larger region, said the source.

Turkey’s first drilling ship passes Gallipoli - ANADOLU AGENCY

Deepsea Metro II reaches Sea of Marmara on way to Black Sea

29.12.2017
Burak Akay, CANAKKALE, Turkey

Turkey’s first drilling ship, the Deepsea Metro II, passed the straits of Gallipoli on Friday, the Turkish Petroleum Company said.

The state-run firm said it was to be used for drilling in the Black Sea.

Petrogress, Inc. (PGAS) is Strengthening Port Operations in Cyprus - NETWORK NEWS WIRE

December 28, 2017

• MOU to undertake joint venture in Cyprus port operations
• Set to enter upstream business by operating oil platform
• Gaining eligibility to bid for Ghanaian government contracts

A recent announcement, which also appeared in the Greek media, shows that Petrogress, Inc. (OTC: PGAS) is doubling down in Cyprus. Through subsidiary Petrogress Int’l, LLC (“PIL”), the company has entered into a Memorandum of Understanding (MOU) with EDT Agency Services, Ltd., under which the two companies intend to combine operations at the Port of Limassol. The collaboration also extends to future developments at Vassiliko Energy Port, where the Cyprus Port Authority has announced plans for the construction of a $300 million industrial and energy harbor. 

The MOU calls for a 50/50 partnership between EDT and PIL, operating under PIL’s PG Cypyard & Offshore Terminal Services unit. The joint venture will provide support services to supply vessels and offshore exploration and production platforms and will help PGAS serve the E&P needs of major international oil companies in the Cyprus Exclusive Economic Zone (EEZ). The partnership is expected to not only boost PGAS’s revenues, but the company’s profile in Limassol and Vassiliko.

Turkey raises energy stakes as drillship sails through Aegean - KATHIMERINI

28.12.2017 : 21:24

VASSILIS NEDOS

The passage of a Turkish drillship through the Aegean on Thursday was seen as a loud message to Athens that Ankara plans to play a part in energy exploration in the Eastern Mediterranean and the wider region.

Although the Deep Sea Metro 2 and the Turkish corvette Bafra escorting it were traveling in international waters, their journey from an area southeast of the Peloponnese through the Aegean heading for Istanbul was viewed in Greece as a display of Ankara’s determination not to be left out of the region’s unfolding energy map, at a time when Athens has already begun initiatives to partially extend its sea zones.

Thursday’s route taken by the Deep Sea Metro 2 – charted by Turkey for exploratory offshore drilling in the Mediterranean Sea in 2018 – and the Bafra was known to Greece in advance, and for this reason both the Hellenic Armed Forces General Staff (GEETHA) and the navy were put on alert.

Government approves 4 oil, gas agreements worth $230M - EGYPT TODAY

Thu, Dec. 28, 2017

CAIRO – "The Egyptian government approved in its Thursday meeting four new oil and gas exploration agreements worth $230 million," Minister of Petroleum Tarek el-Molla announced.

Two of the four agreements are related to the Egyptian General Petroleum Corporation (EGPC) for exploration in the Red Sea and Western Desert areas, while the other two are related to South Valley Petroleum Holding Company (Ganope).

"The agreements include drilling 17 new wells," Molla added in a cabinet press conference.

EGPC chairman Abed Ezz el-Regal announced in September that EGPC will hold a new auction for oil and gas exploration before the end of 2017.

In August, Molla signed three new oil and gas exploration agreements in the Western Desert with a total value of $81.4 million in investments.

The agreements were signed between the EGPC, Royal Dutch Shell and Apex to drill 16 new wells using $23.2 million.

With new gas deals, Egypt closes in on energy hub goal - NASDAQ / REUTERS

December 28, 2017, 06:13:00 AM EDT
Patrick Werr

CAIRO, Dec 28 (Reuters) - Egypt is set to inaugurate a new wharf for natural gas and petroleum product tankers on the Gulf of Suez in the coming days, another step in its plan to become a regional energy hub.

The new 2.5 km wharf is being built by SUMED, which for decades has operated two pipelines from the Red Sea to the Mediterranean.

The country has been building fueling depots for ships along the Suez Canal and expanding its refining capacity. It has an extensive pipeline network and two idle gas liquefaction plants ready to export new gas as it arrives.

EBRD lends Egypt USD 200 mn to improve natural gas infrastructure - ENTERPRISE

Thursday, 28 December 2017

The European Bank for Reconstruction and Development (EBRD) is lending Egypt USD 200 mn to “finance the modernization of selected gas infrastructure facilities.” The EBRD loan “will be extended to the Egyptian Natural Gas Holding Company (EGAS) and its subsidiary Egyptian Natural Gas Company (GASCO) to fund the introduction of state-of-the-art technologies to recover waste heat from gas turbines used to drive gas compressors. The recovered heat will be used to produce additional energy, which will drive new electric compressors and replace fuels on-site. The introduction of new technology will lead to a reduction of over 250,000 tonnes of carbon-dioxide equivalent (CO2e) per year.” Oil Minister Tarek El Molla says “the EBRD will also provide technical assistance in addition to the USD 200 mn loan, which will contribute to the upgrading of gas metering systems throughout the Egyptian gas transmission network, a key step towards an efficient and cost conscious use of energy.”

DES.FA executive: LNG bunkering in Greece by 2020 - NAFTEMPORIKI

Wednesday, 27 December 2017 19:12
A. Tsimplakis

Supplying merchant vessels with LNG for their fuel needs - bunkering - is a pending priority for DES.FA, Greece’s natural gas transmission system operator.

According to the natgas utility’s director of corporate development, Iosif Florentin, who spoke recently at a roundtable discussion organized by the Hellenic Institute of Maritime Technology (ELINT), the first facility for supplying LNG as a fuel aboard vessels will be based at the current LNG terminal on the islet of Revythoussa, which lies just off the port of Piraeus and the adjacent industrial districts.

He said the facility can currently supply vessels that are larger than 20,000m3.

“By the end of 2018 an international tender will be declared for the construction of a new jetty II, which will exclusively serve vessels between 1,000 and 20,000m3, along with the addition of a smaller appendage and bollards to allow the supply of LNG to even smaller craft from the current jetty,” he said.

Drilling ship arrives off Cyprus for ENI - KATHIMERINI

27.12.2017 13:28

Drilling ship Saipem 12000 entered the Cypriot exclusive economic zone on Tuesday evening to start operating in the next few days for Italy’s ENI.

The vessel will anchor at the “Kalypso” field of the zone’s Block 6, to begin exploratory drilling for hydrocarbons in the next few days.

The drilling process is expected to last for about a month, followed by another drilling for ENI at the “Soupia” (i.e. Cuttlefish) field of Block 3.

ENI chief executive officer Claudio Descalzi stated last month that his company is very optimistic about the area’s natural gas prospects, which is why it has invested 150 million euros in it.

Libya's oil output revival thwarted by pipeline explosion - WORLD OIL / BLOOMBERG

DEC/26/2017

SALMA EL WARDANY

CAIRO (Bloomberg) -- Libya’s oil industry revival suffered a setback Tuesday after an explosion at a pipeline carrying crude to the OPEC nation’s biggest export terminal. Oil rallied as a result.

Production will drop by 70,000 to 100,000 bopd after the explosion, the state-run National Oil Corp. said in a statement. The pipeline, operated by Waha Oil Company, carries crude to the Es Sider terminal. The blast occurred 81 mi south of Sidra.