Siemens to add 1,200MW to national electricity grid at End-May - AMWAL AL GHAD / DAILY NEWS EGYPT

Saturday, 18 March 2017 12:04

Siemens is set to add 1,200MW to the national electricity grid by the end of May from power plants in the New Administrative Capital and Borollos.

Sources at the Egyptian Electricity Holding Company (EEHC) said that, according to an agreement with Siemens and Orascom, the New Administrative Capital power plant will add 400MW by the end of March, in addition to 800MW to be added from the Borollos power plant in the end of May.

The sheer capacity spanning Siemens’ three projects in Beni Suef, the New Administrative Capital, and Borollos that will be added before summer amounts to 6,000MW; where 4,800MW have already been linked to the grid pending commercial operation.

How is the Egyptian General Petroleum Authority coping with fuel shortages after Saudi Arabia rescinded on a deal to provide Egypt with petrol and diesel shipments - ZAWYA / AL AHRAM WEEKLY

18 March 2017

Ahmed Ismail

Egypt’s Ministry of Petroleum and Mineral Resources is seeking a deal with the Iraqi government to import around one million barrels of crude oil to meet some of the Egyptian market’s petroleum needs after the Saudi company Aramco stopped deliveries of petrol and diesel fuel to Egypt in October.

According to Tarek Al-Hadidi, CEO of the Egyptian General Petroleum Authority (EGPA), the first shipment of Iraqi crude oil is scheduled in March “to be processed at Egyptian refineries and produce petroleum outputs for the domestic market.”

Contracts with energy companies to be signed next month - FAMAGUSTA GAZETTE

Friday, 17 March, 2017

Cyprus is set to sign on April 5 and 6 contracts with the selected bidders of the third licensing round for explorations in blocks 6, 8 and 10 of its Exclusive Economic Zone, Energy Minister Yiorgos Lakkotrypis announced on Friday.

The three contracts were approved today by the Cabinet.

The body authorised the Minister to sign the contracts with the three companies. “The signing will take place on the 5th and the 6th of April and the details will follow very soon,” Lakkotrypis announced to the press after the meeting of the Cabinet.

Asked whether the contacts differ from those signed with companies in previous licensing rounds, the Minister noted that the contracts were negotiated on March 7, as announced. “Today we had the opportunity to present both the technical and the financial results, as well as the legal (results) of the negotiations, in detail to the Cabinet” he said.

Cyprus approves Eni, Total, Exxon offshore block deals - REUTERS

Fri Mar 17, 2017 | 9:54am EDT
Michele Kambas; Editing by Edmund Blair

Cyprus's cabinet on Friday approved contracts with France's Total, Italy's Eni , Exxon Mobil and Qatar Petroleum to explore for oil and gas in offshore areas south of the island, officials said.

Exploring the Mediterranean's Levant Basin has become more attractive since Eni discovered Egypt's offshore Zohr field in 2015, the biggest gas field in the Mediterranean and estimated to contain 850 billion cubic metres of gas. The Cypriot concessions cover exploration rights for three offshore blocks off the south and southwestern coast and contracts would be signed on April 5 and 6, Energy Minister Georgios Lakkotrypis said.

Eni and Total are in a consortium for one of the blocks and ExxonMobil and Qatar have joined up for another. Eni will be on its own in a third block. The blocks were offered in the third licensing round held by Cyprus.

Athens sees Turk effort to dispute Greek sovereignty in sea area around - KATHIMERINI

Kastelorizo Island, Greece

16.03.2017 : 22:10

Vassilis Nedos

In what is seen in Athens as an effort by Ankara to push through its message that Greece has limited sovereignty in the area of the Eastern Mediterranean surrounding the island of Kastelorizo, Turkish forces have in recent days maintained a steady presence in the region, either through military exercises or with the dispatch of research vessels.

According to a navigational telex (navtex) issued by Turkey, the Piri Reis oceanographic vessel will remain in the area south of Kastelorizo until Monday.

Furthermore, according to another two navigational telexes, Turkey is planning to conduct exercises with live ammunition in areas west and east of Kastelorizo (within Turkish territorial waters).

BP to bring Fayoum, Giza concessions on stream ahead of schedule - ENTERPRISE / YOUM7 / OFFSHORE TECHNOLOGY

Thursday, 16 March 2017

BP is reportedly bringing the Fayoum and Giza natural gas fields (see North Alexandria Concession) into production ahead of schedule in November, Oil Ministry sources tell Youm7.

The fields were initially slated to come on stream in 1Q19. BP is expected to produce 400 mcf/d from the concessions.

West Nile Delta (WND) Project involves the development of gas and condensate fields located within the North Alexandria (N Alex) and West Mediterranean Deepwater concessions in the Mediterranean sea, approximately 65km to 85km off the coast of Alexandria, Egypt.

Royal Dutch Shell to increase gas production to 1 bcf/d in the next few years - ENTERPRISE / AHRAM GATE

Thursday, 16 March 2017

Royal Dutch Shell is looking to raise natural gas production from its Mediterranean offshore concessions to 1 bcf/d from a current 500 mcf/d in the next few years, Ahram Gate reports, following up on a meeting yesterday between Shell Egypt Chairman and MD Gasser Hanter and Oil Minister Tarek El Molla.

The company reportedly pledged to increase oil production from its Western Desert concessions to 200K bbl/d from a current 130K bbl/d at the same meeting.

Zohr to Start Gas Production This Year - RIGZONE

Wednesday, March 15, 2017
Andreas Exarheas

Zohr will start gas production in December, according to an investor presentation held in Milan today by Eni.

The Zohr discovery, which was made in August 2015, is believed to hold 5.5 billion barrels of oil equivalent, according to Eni’s website. A December production commencement date would mark a 2.3 year timespan from discovery to output start-up.

Montenegro Signs 30-Year Oil Licensing Deal With Greek Producer - REUTERS

Wednesday, March 15, 2017
Reporting by Maja Zuvela; editing by Susan Thomas

SARAJEVO, March 15 (Reuters) - Montenegro awarded Greece's sole oil producer Energean Oil & Gas a 30-year oil and gas exploration licences in two offshore blocks in the Adriatic sea on Wednesday.

The contract for the blocks covering 338 square km was awarded in line with the terms of a 2014 tender.

The Balkan country produces no oil but initial data indicates it could have enough resources to cover its oil and gas needs.

Vladan Dubljevic, the head of Montenegro's Hydrocarbons Directorate, told Reuters borehole drilling would begin as soon as the Greek company completed the project design, environmental impact assessment and seismic screening.

Energean signs terms for offshore Montenegro blocks - OFFSHORE MAGAZINE

Offshore Montenegro blocks 4219-26 and 4218-30
(Source: Energean Oil & Gas)

03/15/2017

Offshore staff

ATHENS, Greece – Energean Oil & Gas has signed an exploration and production concession contract with the State of Montenegro covering offshore blocks 4219-26 and 4218-30, following parliamentary approval.

Total investment over the initial seven-year exploration period will be $19 million, including funding for a new 3D seismic survey, geophysical and geological studies, and drilling of one well.

The two blocks are in a water depth of 50-100 m (164-328 ft) and close to the Montenegrin coast near the town of Bar. Energean plans to start 3D seismic acquisition during 1Q 2018.

Saudi Aramco to resume oil product shipments to Egypt soon - REUTERS

Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show
and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017.
REUTERS, Hamad I Mohammed

Wed Mar 15, 2017, 2:16pm EDTEhab Farouk, Eric Knecht, CAIRO

Saudi Arabian state oil company Aramco will resume oil product shipments to Egypt some six months after halting them suddenly, the Egyptian Petroleum Ministry said on Wednesday, signaling a potential thaw in relations after months of tension.

The ministry said in a statement that it was working with Aramco on a timetable for the resumption of shipments and that the reasons behind the October cut-off were purely commercial.

EMGC '17: Prospects for accelerating gas trade and regional energy cooperation - HYDROCARBON PROCESSING

March/15/2017
Adrienne Blume

NICOSIA—Gulf Publishing Company's Eastern Mediterranean Gas Conference (EMGC) 2017, the world's primary event for discussing the forces shaping gas industry development in the Eastern Med, continued on March 15.

Dr. Ir. A. J. (Guus) Berkhout, founder and director of the Centre for Global Socio-Economic Change.

Forecasting prosperity to predict energy demand. Founder and Director of the Centre for Global Socio-Economic Change, Dr. Ir. A. J. (Guus) Berkhout started the day with a keynote address on energy's role in economic development in Eastern Med countries.

Egypt replaces heads of state oil and gas companies - REUTERS

Wed Mar 15, 2017 8:45am GMTWriting by Amina Ismail; Editing by Ruth Pitchford
CAIRO (Reuters) - Egyptian Oil Minister Tarek al-Molla has replaced the heads of state oil company EGPC and state gas company EGAS, the Ministry of Petroleum said in a statement on Tuesday.

Abed Ezz el-Regal will replace Tarek al-Hadidi, appointed in April 2016, as head of EGPC while Osama Al Bakly will take over from Mohamed al-Masry as head of EGAS.

The Future of Egypt’s Refining & Petrochemical Industry - WORLD REFINING ASSOCIATION

Download here: The Future of Egypt's Down Stream Industry Report

Egypt is currently the largest oil producer in Africa outside of OPEC and the second largest natural gas producer after Algeria. Egypt, having already taken on a major role in international energy markets is now seeking to get its downstream industry back on track.

Egypt has great potential when it comes to refining and petrochemicals. It is an important transit route, offering great potential to become a hub for petroleum products. Nonetheless, since the Arab spring uprising of 2011 that saw the overthrowing of President Hosni Mubarak, great tolls have been taken on the domestic oil, gas and petrochemical industries.

MEDREG calls for integrated, competitive Mediterranean gas market - NEW EUROPE

MARCH 14, 2017, 23:38 
By New Europe Online/KG

One of the priorities of the Maltese EU Presidency will be to draw attention on the region
The implementation of a stable regulatory framework is a prerequisite to attract investors and ensure energy security of supply, Turkish energy regulator (EMRA) Vice President and MEDREG representative Mehmet Erturktold a seminar in the European Parliament in Brussels on March 8.

He mentioned MEDREG report mapping out current and projected gas and electricity infrastructures in the Mediterranean basin, identifying the main barriers for investments and drawing a set of recommendations to overcome them. A survey submitted to Mediterranean regulators has revealed that the lack of clear institutional framework and regulatory obstacles constitute some of the biggest barriers to investments, Erturk said.

EMGC '17: Eni chief shares invigorating projections for Eastern Med gas - WORLD OIL / HYDROCARBON PROCESSING

Luca Bertelli, CEO of Italy's Eni SpA (photo by Adrienne Blume)

March/14/2017
Adrienne Blume

NICOSIA -- Gulf Publishing Company's Eastern Mediterranean Gas Conference (EMGC) 2017, the fourth incarnation of the world's primary event for discussing the forces shaping gas industry development in the Eastern Mediterranean, opened on March 14.

Luca Bertelli, Chief Exploration Officer of Italy's Eni SpA, opened EMGC 2017 with a keynote address on key gas exploration and development activities in the region, particularly Eni's massive Zohr field in Egypt.

A decade of discovery. "We call the Eastern Mediterranean the 'sea of gas'," Mr. Bertelli said. Eni has been discovering gas in the region for 50 years, starting in the Nile Delta and Egypt's shallow waters. The Italian company partnered with Britain’s BP for exploration activities in the early 1980s.

EMGC '17: Eastern Med gas monetization demands regional cooperation - WORLD OIL / HYDROCARBON PROCESSING

Leda and the Swan mosaic, Sanctuary of Aphrodite, Kouklia, Cyprus

March/14/2017
Adrienne Blume

NICOSIA -- Sessions devoted to gas monetization options and foreign investment initiatives dominated the afternoon of the first day of Gulf Publishing Company's fourth Eastern Mediterranean Gas Conference (EMGC) 2017, March 14.

Strategies for gas monetization. During the conference's second session, executives from companies at work in the region shared offshore development strategies, updates on pipeline proposals and regional power requirements.

Tim Crome, technology manager for TechnipFMC's Global Front End Group, expounded on the advantages of an integrated approach to offshore developments. To drive value for clients, TechnipFMC is working to accelerate and integrate technology innovations, to unlock possibilities to transform project economics, and to develop better integrated offerings across all operations. The company's integrated approach also allows for mitigation and reallocation of commercial risks.

Decision regarding the Drilling of the Leviathan-7 Development and Production Well - DELEK GROUP

Tel Aviv, March 14, 2017.

Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) announces that below is an Immediate Report published by each of Avner Oil Exploration Limited Partnership and Delek Drilling Limited Partnership (jointly “the Partnerships”) concerning the decision to drill the Leviathan-7 development and production well.

Further to the provisions of Section 7.5.9(a)(5) of the Partnerships’ periodic reports as of December 31, 2015, as released on March 28, 2016 (the “Periodic Reports”) regarding the updated development plan for the Leviathan reservoir which is located in the area of the I/14 Leviathan South and I/15 Leviathan North leases (the “Development Plan” and the “Leviathan Project” or the “Leviathan Reservoir”, respectively), of the immediate reports of June 2, 2016 regarding approval of the Development Plan by the Petroleum Commissioner at the Ministry of National Infrastructures, Energy and Water Resources (the “Commissioner”), of the immediate reports of December 18, 2016 regarding the decision of the Leviathan partners to drill the “Leviathan-5” appraisal and production well (the “Leviathan-5 Well”), and the immediate reports of February 23, 2017 regarding the adoption of a final investment decision (FID) for the development of the Leviathan Reservoir, the Partnerships respectfully announce that on March 13, 2017, the Leviathan partners made a decision regarding the drilling of the “Leviathan-7” development and production well in the area of the I/14 Leviathan South lease (the “Leviathan-7 Well” or the “Well”).

Set forth below are further details regarding the Well:

Israel to invest NIS 100m for small gas fields - GLOBES

14 Mar, 2017 14:18
Nati Yefet

The government will invest NIS 100 million (circa USD 27m) in infrastructure for connecting the gas pipeline of the small and medium-sized reservoirs to the national gas transport system.
Two months after the announcement by Greek company Energean of its plans for development of the Karish and Tanin natural gas reservoirs, Minister of National Infrastructure, Energy, and Water Resources Dr. Yuval Steinitz is unveiling his plan to encourage the development of small and medium-sized gas reservoirs. The plan will be brought to the cabinet for approval towards the end of the month. The Ministry of National Infrastructure, Energy, and Water Resources, Ministry of Justice, Antitrust Authority, Israel Tax Authority, and Ministry of Internal Affairs Planning Administration prepared the plans.

Energy giant ENI believes there could be another Zohr field in the region - CYPRUS MAIL

March 14, 2017

A second super-giant gas field like Zohr could be awaiting discovery in the eastern Mediterranean, perhaps off the coast of Cyprus, Italian energy giant ENI said on Tuesday.

“We believe there could be another Zohr in the region. We hope so,” said Luca Bertelli, ENI’s Chief Exploration Officer, speaking at the fourth Eastern Mediterranean Gas Conference in Nicosia.

ENI discovered the Zohr prospect, in Egypt’s exclusive economic zone (EEZ) in 2015. The field holds an estimated 30 trillion cubic feet of gas in place, and is the largest ever natural gas find in the Mediterranean surpassing Israel’s Leviathan.

ENI had taken a gamble, using a geological sequencing model tracking carbonate reservoirs rather than the classical sand-reservoir model.

EU-Gazprom deal clears Bulgaria of South Stream cancellation claims - EURACTIV.com

The (now terminated) South Stream pipeline

13 March 2017

Georgi Gotev

The Commission published Gazprom’s commitments on Monday (13 March) to end a five-year antitrust case and avoid fines heavy fines. As part of the package, Gazprom agreed not to seek any damages from its Bulgarian partners following the termination of South Stream.

In what appears to be a huge deal reached behind closed doors, the Commission agreed with the Russian gas export monopoly to remove restrictions for EU countries from Southern and Eastern Europe to re-sell Russian gas across borders. Until now, bilateral contracts didn’t allow such trade, and in the case of Bulgaria, the implementation of the gas interconnector with Greece was hampered by certain provisions of the Gazprom contracts with both countries.

Monopoly fears in liquefied petroleum gas market - CYPRUS MAIL

March 13, 2017

The Commission for the Protection of Competition (CPC) has initiated a probe into the proposed formation of a new corporation, which it says raises concerns over the creation of a monopoly in the liquefied petroleum gas (LPG) market.

On December 2, 2016, the CPC received a notification of a proposed joint venture by the companies Hellenic Petroleum Cyprus Ltd, Petrolina Holdings (Public) Ltd, Synergas Cooperative Society and Intergaz Ltd.

The joint venture, Vlpg Plant Ltd, will engage in the construction and operation of the installation, storage and management of LPG on an industrial site within the Vassilikos industrial zone that will be rented from the state.

Gas execs in Cyprus to discuss prospects - IN CYPRUS / CYPRUS WEEKLY

March 13, 2017

Energy minister George Lakkotrypis will kick off the Fourth Eastern Mediterranean Gas Conference (EMGC) on Tuesday during which a range of gas industry executive speakers will explore the region’s potential natural gas resources and the path to production.

The conference, run by Gulf Publishing Company, will be held in Nicosia on March 14-15. The conference is sponsored by Deloitte and Cyprus Hydrocarbons Company and is supported by Tiger Offshore, Petroleum Economist, World Oil, and Gas Processing.

Investment and activity in the region has shown a resurgence following Eni’s discovery of Zohr in 2015. Cyprus recently announced the results of its third Licensing Round with blocks approved to be awarded to energy majors Eni, Eni/Total, and ExxonMobil/Qatar Petroleum. Israel has announced that it plans to launch its first auction round for energy development rights to five offshore blocks for natural gas development.

EC reports Gazprom commitments on supplying gas to eastern Europe - OIL & GAS JOURNAL

WASHINGTON D.C., 03/13/2017

Nick Snow, OGJ Washington Editor

Russian natural gas giant Gazprom has made significant commitments to supply gas to customers in eastern and central Europe at competitive prices, the European Commission reported in Brussels.

The commitments “address our competition concerns and provide a forward-looking solution in line with [European Union] rules. In fact, they help to better integrate gas markets in the region,” EC Competition Policy Commissioner Margrethe Vestager said.

In April 2015, the commission sent a Statement of Objections expressing its preliminary view that Gazprom had been breaking EU antitrust rules by pursuing an overall strategy to partition central and eastern European gas markets.

Vestager said the commission now feels that the commitments Gazprom offered cover the EC’s competition concerns by ensuring that:

Constantinos Papalucas on East Med gas developments - ANTENNA TV (CYPRUS)

Constantinos Papalucas is a former Associate with the Environment and Natural Resources Program (ENRP) at Harvard University’s Belfer Center for Science and International Affairs where he focused on the issues surrounding the gas finds and the emerging energy hubs in the Eastern Mediterranean. In this 16 minute interview on ANTENNA's (ANT1, Cyprus) daily show with Nikitas Kyriakou (08/03/2017) Constantinos Papalucas offers a Cypriot perspective on Cyprus & Israel gas developments & the Int. Oil Companies involved, right after the successful completion of the negotiations following Cyprus' 3rd licensing round. The interview is in Greek with English Subtitles.

EGAS natural gas imports down since start of 2017 thanks to higher output, lower consumption - ENTERPRISE / AL BORSA

Monday, 13 March 2017

EGAS has cut its imports of natural gas imports to five monthly shipments (equivalent to 700 mcf/d) from eight (800 mcf/d) since the beginning of 2017 thanks to rising domestic production and lower consumption, Al Borsa reports. 

Imports will rise again to 1.4 bcf/d in May when summertime demand kicks in, according to a top EGAS official. Domestic production is expected to increase to 5 bcf/d from a current 4.5 bcf/d by the second half of the year, before the Zohr field comes online.

Anastasiades to address Cyprus investment forum in New York - CYPRUS MAIL

March 13, 2017

President Nicos Anastasiades is due to attend, and deliver the key address at the Invest in Cyprus Forum in New York on March 22, it was announced on Monday.

The event, organised by Capital Link features top government officials, business leaders and investors from Cyprus and the US. Also, addressing the forum will be the Cypriot minsters finance, transport and energy and Jonathan Cohen Deputy Assistant Secretary European and Eurasian Affairs – US Department of State.

The Forum aims to raise awareness of Cyprus as an investment and business destination among the US investment, financial and business communities. It will showcase the increasing importance of Cyprus as a regional maritime, logistics, energy and operational hub and highlight investment and business opportunities in these areas as well as in financial services, IT and tourism.

Good news but realism should prevail - IN CYPRUS / CYPRUS WEEKLY

March 12, 2017
Charles Ellinas

The long-awaited confirmation of Cyprus’ third licensing round awards was made on Tuesday, March 7. As expected, these awards were as follows:

Block 6: ENI-Total consortium
Block 8: ENI
Block 10: ExxonMobil and Qatar Petroleum

The signature bonus to be paid to the government totals €103.5 million.
This was good news and a successful conclusion to a bidding round that saw three of the world’s oil and gas majors committing to Cyprus’ Exclusive Economic Zone (EEZ). The signature of the Production Sharing Agreements is expected by the end of March.

The other equally important news was confirmation that ENI and Total have agreed to extend their cooperation in Block 11 on a 50:50 basis, with Total as the operator. The farm-in deal has been approved by Cyprus’ Council of Ministers.

In the following I analyse these developments and their implications for Cyprus and the region.

Libya's deepening split finds battleground at oil terminals - EGYPT INDEPENDENT

Sun, 12/03/2017 - 10:27

Hundreds if not thousands of armed men are converging on Libya's main oil shipping terminals, which the rival powers in the country's east and west are fighting to control in a battle being watched by global oil markets.

The struggle for the Ras Lanuf refinery and nearby Sidr depot threatens to spiral into an all-out conflict between east and west. Already, it has seen the bloodiest fighting yet between the two camps: around 40 troops from the east were killed over four days as militias backed by western factions stormed the area last Friday, losing a handful of casualties.

Now forces from the east loyal to military strongman Khalifa Hafter are massing nearby, threatening a new assault to wrest back the facilities, which are nominally in the hands of the Tripoli government.

No Cyprus solution: no UN and no gas? - IN CYPRUS / CYPRUS WEEKLY

March 12, 2017
Fiona Mullen

Efforts to solve the Cyprus problem are dying fast. In an interview with Kibris on Monday, the UN Special Advisor, Espen Barth Eide said something that should wake everyone up on this island.

Translated back from the Turkish, he said: “If the process fails, I have the feeling that it will not be possible to expect the UN to come again after a couple of years when things improve and give it another try. I don’t know. This is why I am worried. I would be more worried if I were living here. I hope I am wrong but I have to say that I am worried it will not be a smooth exit.”

This is diplo-speak for: “If you don’t come back to the table, don’t expect the UN to try again”.

Will Lebanon tap its oil and gas wealth? - AL JAZEERA

11 Mar 2017 13:06 GMT

A nine minute video examines Beirut's ambitions to tap into its energy sector and the challenges ahead.

Years of war and political instability have disrupted Lebanon's ambitions to tap into its energy sector.

Bidding for the right to develop oil and gas fields buried offshore is due to start later this year amid hopes the discoveries will help transform the country's economy.

Lebanon, which has the highest debt as a share of annual economic output among Arab states, regularly suffers from power outages.

Oil companies will have to invest millions of dollars in exploration and drilling, but transporting the gas to consumers could prove tricky due to maritime border disputes and political uncertainty in the region.

Neighbouring countries, including Egypt, Israel and Cyprus, have already started production and some fear Lebanon may never catch up.

Imtiaz Tyab reports from Tripoli, in northern Lebanon, about the challenges ahead.

"Once we start drilling, we'll know how much reserves we have, but we should be very prudent and not talk about numbers and figures," said Laury Haytayan, senior MENA officer with the London-based Natural Resource Governance Institute.

"If we want to export, we need to find the right buyers - gas needs buyers before we even starting production. This will be the greatest challenge," Haytayan added.

"The safest and wisest option for Lebanon is to use the gas to meet its domestic needs."

Watch the video here.

10,000 Olive Trees to Be Moved for Gas Pipe in Puglia - OLIVE OIL TIMES / REUTERS

March 10, 2017

Julie Al-Zoubi

Ten thousand olive trees, including some as old as 400 years, will be moved from a UNESCO-recognized olive grove in Puglia, as work on the $40 billion Trans Adriatic Pipeline (TAP) finally gets underway.

On 7th March a TAP spokesman told Reuters, “We’re going to start moving the olives in a few days.” He confirmed that the company had complied with all the regulations required to proceed with uprooting the trees. Work was due to begin on TAP last year but was delayed by strong local opposition including protests.

The spokesman confirmed that administration procedures for the removal of the trees were complete. He added that the required health checks on the trees were underway.

Total-Eni forge Cyprus alliance - IN CYPRUS / CYPRUS WEEKLY

March 10, 2017

Italian energy major Eni has finalised a farm-in agreement with France’s Total to acquire 50% participating interest of Block 11, offshore Cyprus.

The agreement, in which Total remains operator of the block, has been approved by the Cabinet.

Under this deal Eni further reinforces its own position in Cyprus exploration, acquiring the right of exploring an area of 2,215 km2, nearby the super giant Zohr discovery in the Egyptian offshore.

The rights on Block 11 were assigned by the Republic of Cyprus to Total back in 2013 at the conclusion of the second international bid round. The exploration well is expected to be drilled in the Block within 2017.

Rosneft and Russia's Evolving Oil Strategy Explained - THE DIPLOMAT

March 10, 2017
Nicholas Trickett

Russia’s recent deals in the Middle East aren’t just about expanding its influence, they’re part of a larger strategy.

Rosneft is deploying its preferred long-term prepayment model to political effect in Kurdistan and Libya, distributing risks between producers and consumers and taking advantage of its access to state money. That model has also earned it closer ties to trading houses like Glencore and Trafigura. The firm applied the same approach to securing a customer for its Venezuelan production—another risky market—in India with its acquisition of Essar Oil.

Watchdog suspends Azerbaijan, EU gas pipeline loans threatened - CLIMATE HOME

Parts of the Southern Gas Corridor are already under
construction in Turkey. (Photo: Tanap)

10/03/2017, 12:59pm
Karl Mathiesen

Billions in development loans at risk after international human rights watchdog strips Azeri membership for failure to increase transparency

A human rights watchdog suspended Azerbaijan’s membership on Thursday, casting doubt on billions of dollars worth of loans being considered for a pipeline linking the country’s gas fields to the EU.

The government of Ilham Aliyev has been repeatedly asked by the Extractive Industries Transparency Initiative (EITI) to lift restrictions on civil society organisations. On Thursday the EITI board, which meets in Oslo, decided that the regime had run out of time.

Turkey, Russia to jointly establish investment fund - DAILY SABAH / ANADOLU AGENCY

MOSCOW, 10.3.2017

Russian Energy Minister Alexander Novak said a significant number of agreements have been prepared for the Turkey-Russia High-Level Cooperation Council (HLCC) meeting in Moscow today.

He revealed that the agreements, set to be signed at the meeting, will not just address the economy, but will also deal with technical and cultural fields.

Speaking to Anadolu Agency (AA) ahead of the HLCC meeting that will bring together President Recep Tayyip Erdoğan and Russian President Vladimir Putin, Minister Novak highlighted that commercial and economic cooperation between Turkey and Russia has gradually recovered after a series of unfortunate events.

Israel Navy gearing up for its latest mission – protecting Mediterranean gas rigs - HAARETZ

March 09, 2017
Gili Cohen 

It will take two and half years for custom-designed missile boats being built in Germany to arrive. Until then, the navy is not resting on its laurels regarding this strategic economic asset.

For the sailors serving on the Israel Navy’s missile corvettes, the latest revelations concerning the bid for purchasing drilling rig-protecting boats, associated with the procurement of new submarines, have brought about a surprising turn of events. The combat mission of these seamen, which usually remains secretive and submerged, has become an open topic of conversation.

‘Block 11 looks extremely promising’, gas expert says - CYPRUS MAIL

Cyprus' president Nicos Anastasiades (left) w/ European Commission's
president Jean-Claude Juncker

March 9, 2017
Elias Hazou

The partnership between French oil and gas major Total and Italy’s ENI in offshore Block 11 is an extremely significant development as it greatly increases the chances for a natural gas discovery in the licensed acreage, an energy analyst has told the Cyprus Mail.

“We have here a combination of Total’s technical know-how with ENI’s intimate knowledge of the proximate acreage after their discovery of the Zohr gas field in Egyptian waters,” Charles Ellinas said.

The expert confirmed reports that Block 11 is looking extremely promising.

To date, four or five targets have been identified there, he added.

Steel producers promised lower gas prices come December, head of FEI’s steel division says - ENTERPRISE / AL BORSA

Thursday, 9 March 2017

Zohr is a godsend to industry: The government has reportedly once again promised steel producers that it will reduce their natural gas prices to USD 4.5 from USD 7 per mmBtu by the end of 2017 once capacities from new field discoveries come onstream, according to the head of the steel division at the Federation of Egyptian Industries (FEI) Gamal El Garhy, Al Borsa reports. We would usually take this with a grain of salt, but with Zohr coming online, industry appears to be getting a reprieve from higher gas prices. 

ENI-TOTAL synergy on block “11” the best that could happen, says Executive Director of CHC - FAMAGUSTA GAZETTE / CNA

Thursday, 09 March, 2017

Speaking to CNA, he also said that the synergy between energy companies ENI and TOTAL is the best that could happen to the block `11`.

Executive Director of Cyprus Hydrocarbons Company (CHC) Panos Kelamis said Wednesday that he was very optimistic as to the prospects of Cyprus Exclusive Economic Zone (EEZ), following the successful completion of negotiations for the third licensing round.

Speaking to CNA, he also said that the synergy between energy companies ENI and TOTAL is the best that could happen to the block `11`.

"The prospects are very good," noted the Greek former staff member of Saudi Aramco, referring to the successful completion of negotiations for licensing of blocks "6”, "8” and "10” of the Cyprus EEZ, announced Tuesday by the Minister of Energy George Lakkotrypis. He added that from his background on the exploration he is "too optimistic", but noted that "we should all have patience."

Exxon eyes Israel after Cyprus win - GLOBES

9 Mar, 2017 14:09
Nati Yefet

After winning a Cypriot government tender, Exxon Mobile has expressed interest in bidding for Israeli natural gas tenders.
Minister of National Infrastructure, Energy and Water Resources Yuval Steinitz met last week with senior executives from Exxon Mobil and Royal Dutch Shell during his visit to the US. The minister's associates say that while Royal Dutch Shell will probably not take part in the new tender for oil and gas exploration licenses in Israeli waters, the Exxon Mobil executives came equipped with a great deal of relevant information, and expressed interest in the tender.

SOFAZ allocated over $1B for Southern Gas Corridor - TREND NEWS AGENCY

9 March 2017 08:30 (UTC+04:00)
Baku, Azerbaijan, Maksim Tsurkov

The State Oil Fund of Azerbaijan (SOFAZ) allocated more than $1.23 billion or 1.53 million Azerbaijani manats for the Southern Gas Corridor (SGC) project in 2014-2016, says a report on the activity of Azerbaijan’s Cabinet of Ministers in 2016.

The report says that in 2016, in order to finance the Azerbaijani government’s share in the Southern Gas Corridor CJSC, SOFAZ transferred 797.4 million manats ($495.2 million) to the country’s Economy Ministry.

Expenditures for this purpose accounted for 33.9 percent of SOFAZ’s planned budget.

RPT-BUZZ-Rosneft buys Egyptian crude for first time in tender - REUTERS

Wed Mar 8, 2017 6:08pm GMTReporting By Julia Payne; Editing by Susan Fenton

The trading arm of Russia's state oil firm Rosneft bought three cargoes of Egypt's heavy sour Ras Gharib grade, the first time the company has bought Egyptian crude, trading sources familiar with the matter said.

Geneva-based Rosneft Trading won the cargoes loading in April, May and June via a sell tender by Egypt's state owned EGPC that closed on Feb. 24.

EGPC sold a total of seven cargoes, Swiss trader Petraco won the remaining four.

Rosneft is now sourcing light crude grades for its German refinery after a deal with partner BP expired last year.

Energy diversification top priority for Turkey, Minister Albayrak says - DAILY SABAH / ANADOLU AGENCY

AA Photo

HOUSTON, TX, 8 March 2018

Turkey's main goal in the energy sector is diversification, Energy Minister Berat Albayrak told a U.S. conference Tuesday.

"More than half of our electricity generation is from gas," he told the IHS CERAWeek energy conference in Houston, Texas. "This can't be sustainable, so we changed this strategy.

"We are aiming to diversify our natural gas portfolio in the following years."

The last 15 years have seen Turkey's GDP rise from $200 billion to more than $800 billion, while public debt to GDP ratio shrunk from 80 percent in 2002 to around 30 percent today.

"You have to invest in energy to meet this growth and your growth targets," Albayrak said.

Cyprus agrees gas exploration deals - EXPATICA / AFP

Oil firms active in the Cypriot EEZ at the end of negotiations
regarding Cyprus' 3rd Licensing Round

7th March 2017

US energy giant ExxonMobil, Qatar Petroleum, Italy's ENI and France's Total have successfully bid for rights to explore for oil and gas off the coast of Cyprus, officials said Tuesday.

The contracts, part of the Mediterranean island's third licensing round, will be approved by the cabinet on March 17, Cyprus trade minister George Lakkotrypis told reporters.

ENI and Total jointly negotiated a licence for a block off the island's south coast while ENI secured another on its own. ExxonMobil and Qatar Petroleum successfully bid for a third.

"This is a very important development for both the Cypriot Exclusive Economic Zone and the eastern Mediterranean in general," said Lakkotrypis.

"It reinforces the prospect for hydrocarbons in the area," he added. "You will find that companies are quite optimistic as to the prospects for the eastern Mediterranean, and more specifically the Cypriot EEZ."

Some of the firms could begin exploratory drilling this year, Lakkotrypis said.

Eni finalizes farm-in agreement with Total, acquiring interest offshore Cyprus - WORLD OIL

March/7/2017

SAN DONATO MILANESE -- Eni announces that has finalized a farm-in agreement with Total to acquire 50% participating interest of Block 11, offshore Cyprus.

The agreement, by which Total remains the Operator of the block, has been approved by the Council of Ministers of the Republic of Cyprus. With this transaction Eni further reinforces its own position in the Country, acquiring the right of exploring an area of 2,215 km2, nearby the super giant Zohr discovery in the Egyptian offshore.

The rights on Block 11 were assigned by the Republic of Cyprus to Total back in 2013 at the conclusion of the second international bid round held by the Country. The exploration well is expected to be drilled in the Block within 2017.

The disputed gas fields in the eastern Mediterranean - AL JAZEERA

07 Mar 2017 19:14 GMT

The eastern Mediterranean sea has several large natural gas deposits. The fields could be worth billions of dollars.

Lebanon and Israel have been involved in a maritime dispute regarding the exact location of their sea borders. The contested area is important to both countries because it might harbour natural-gas fields.

Israel has one of the largest gas fields in the region, the Leviathan field. Parts of that field could potentially extend into territory claimed by both Israel and Lebanon [TEKMOR Note: Misleading]. This gas deposit is so big, it could potentially lead to Israel becoming an energy exporter.

Meanwhile, Egypt has what has been called a "supergiant gas field" within its waters, the Zohr gas field.

Still, Egypt might face a gas-energy crisis despite being one of the largest gas-producing countries in Africa, as an investigation by Al Jazeera showed [TEKMOR Note: Old news].

US-Israel-Greece poised for annual maritime drill in Eastern Mediterranean - DEFENSE NEWS

The Hellenic Navy Psara, F-454, front, sails past the Israeli Navy
Keshet, Saar 4.5, while transiting the Mediterranean Sea as seen from
the bridge wing of the U.S. destroyer Porter during Exercise Noble
Dina on April 4, 2016. Photo Credit, MC3 Robert S. Price/US Navy

March 7, 2017
Barbara Opall-Rome

ISRAELI NAVY HEADQUARTERS, Haifa – The trilateral Noble Dina exercise between the American, Israeli and Hellenic navies will begin later this month, with nearly a dozen surface ships, submarines and related air assets scheduled to engage in joint reconnaissance, counterterror and antisubmarine warfare training.

Cyprus will participate as an observer in the annual three-way drill, which begins in Greece and will conclude in mid-April here at the Israeli Navy headquarters in Haifa, said Commander Assaf Boneh, the head of international cooperation for the Israeli sea service.

“It’s one of our most important exercises that allows us to hone our proficiencies in very complex scenarios,” Boneh told Defense News. “We’ll be training in a vast area from Greece to Israel, and this gives us a lot of room to practice multiple scenarios that require jointness.”

Greece says East Med gas pipeline to Europe feasible - NEW EUROPE

MARCH 7, 2017, 15:25
Kostis Geropoulos

Project plans to connect Levantine Basin with Cyprus, Greece

DELPHI, Greece – A pipeline planned to transport natural gas from the recently discovered fields in Eastern Mediterranean to Europe is feasible and viable, the CEO of Greece’s Public Gas Corporation has said.

“There has been a lot of speculation over the past years, people talking of ‘Pharaonic’ projects. I was personally a bit hesitant. Now, we have conclusion of the studies that this pipeline is technically feasible, economically viable and commercially competitive,” Theodoros Kitsakos said, referring to the Eastern Mediterranean Pipeline (East Med).

Addressing an energy panel on the third day of the Delphi Economic Forum on March 4, Kitsakos displayed slides for the first time in public showing the technical feasibility of the East Med pipeline. “From a technical background all steps are quite feasible. There is only one small piece of less than 10 kilometres just before the island of Crete where the depth is quite high,” he said. “But technology has advanced so we can cover this also so the whole route is guaranteed,” he said.

Israel's Shapir Weighing Bid for Natural Gas License Tender - BLOOMBERG

7 March 2017, 11:39 am EETYaacov Benmeleh and David Wainer

• Company may need to find a partner with energy expertise
• Shapir shares have outperformed global peers in last year

Shapir Engineering and Industry Ltd., which develops residential, commercial and industrial construction projects in Israel, is considering expanding its operations into offshore energy exploration.

The Petach Tikvah, Israel-based company is mulling a bid to drill for oil and gas in the 24 new blocks opened for exploration in the country’s economic waters, a company spokeswoman told Bloomberg. 

ExxonMobil and Qatar Petroleum the new entrants in Cyprus' EEZ

George Lakkotrypis, the Cypriot Minister of Energy, tweeted "Significant developments in #Cyprus oil & gas. Shaping a new picture in Cyprus #EEZ and impacting the potential of the #EastMed as a whole."

The map seen here which accompanied the tweet shows the licensees at the successful conclusion of the negotiations pertaining to Cyprus' 3rd licensing round.

New entrants are ExxonMobil and Qatar Petroleum in block 10. ENI, already present in the Cypriot EEZ, picks up blcoks 6 and 8, the former in an alliance with Total.

In a separate development, block 11 was farmed out with the block's rights now shared by ENi (50%) and Total (50%).

National Dialogue “only way out of political stalemate in Libya” Egypt insists after LNA oil crescent reverse - LIBYA HERALD

Tunis, 6 March 2017

Egypt has insisted that dialogue is the only way Libya can extract itself from the current political crisis. Resuming the UN-brokered Libya Dialogue was of critical importance and would help safeguard the interests of its people, Egypt’s National Committee on Libya said stated today.

Libya, it added, had an “historic opportunity” to reach a political consensus bereft of outside interference to end the suffering of its people and ensure stability.

The committee is headed by Egypt’s Chief of Staff, Lieutenant-General Mahmoud Hegazy.

MPs present wish-list of how to spend future gas revenue - CYPRUS MAIL

March 6, 2017
Elias Hazou

MPs on Monday began an article-by-article discussion of a government bill governing the establishment and operation of a National Investment Fund to manage future hydrocarbons proceeds.

The representatives of the parties each had their own ideas as to how the funds should be invested.

Akel [left] called for the addition of a reference where part of the funds would be diverted to ‘public-interest’ investments.

The party would also like to insert a provision allowing funds to be invested in developing the hydrocarbons industry on the island; as it stands, the bill makes no such reference.