Total to start drilling in early 2017 - CYPRUS MAIL

Tourism and Energy Minister Giorgos Lakkotrypis

JUNE 10TH, 2016 ELIAS HAZOU
FRENCH oil major Total will likely commence exploring for gas in their offshore Block 11 concession in early 2017, energy minister Giorgos Lakkotrypis said on Thursday.

Speaking to the Sigma television channel, Lakkotrypis was also asked to comment on reports that Russian companies are exhibiting a keen interest in the third licensing round launched by Cyprus.

The companies are said to be most interested in blocks 6, 8 and 10.

Lakkotrypis neither denied nor confirmed the Russian interest. But he did say he was pleased by the overall interest in the new licensing round.

July 22 is the deadline for the submission of bids.

IGI Poseidon and Noble sign a Cooperation Agreement in relation to the finalization of PRE-FEED activities of EastMed Pipeline - DEPA / EDISON / IGI Poseidon

Source: DEPA website

09.06.2016, IGI Poseidon Press Release 

IGI Poseidon S.A. and Noble Energy International Ltd have signed today a Cooperation Agreement to support the finalization of the Pre-FEED activities of the EastMed pipeline and to jointly assess its viability as one of the export options for the Eastern Mediterranean gas discoveries. The EastMed Pipeline Project is a European Project of Common Interest and the ongoing development activities are supported by European Union through the Connecting Europe Facility (CEF) co-financing program.

Background Note: IGI Poseidon S.A. is a company incorporated in Athens and equally owned by DEPA S.A. and Edison, involved in the development of 3 major gas pipeline projects: the Poseidon Pipeline, the IGB Pipeline and the EastMed Pipeline, all qualified as Projects of Common Interest (Commission Delegated Regulation 2016/89) thanks to their contribution to the European energy security, via diversification of routes and sources of natural gas supply.

BP, Eni Announce New Gas Discovery Off Egyptian Coast - HAARETZ / THE MARKER / REUTERS

Eni's Bouri Offshore oil terminal is seen off the Libyan coast, AAP

Newest find confirms potential of area estimated to hold 70-80 billion cubic meters of gas, says Italian energy firm Eni.

TheMarker and Reuters Jun 09, 2016 6:28 PM

The European energy companies BP and Eni on Thursday announced a significant natural gas discovery off the Egyptian coast.

The discovery in the Baltim southwest exploration prospect in the East Nile Delta is 10 kilometers north of the Nooros gas field which was discovered in July last year and has a production rate of 65,000 barrels of oil equivalent per day, the companies said.

‘Τurkey may not respect Cyprus’ EEZ but the US does’ - CYPRUS MAIL

JUNE 9TH, 2016

PSEKA delegates in Washington

The US State Department’s Special Envoy and Coordinator for international energy affairs Amos Hochstein has said that while Turkey may not respect the EEZ of Cyprus, the United States does and said without “resolution in Cyprus” no pipelines can go through its EEZ from Israel to Turkey.

Hochstein, who was addressing the 32nd Congress of the International Coordinating Committee’s Justice for Cyprus, also known as PSEKA, on Wednesday, also called energy a “game changer” and an incentive for a settlement of the Cyprus problem.

“In 2011 Noble Energy was exploring in Aphrodite. Turkish F-16s were flying over and there was other naval activity. But they stopped and since then there was no interference in Cyprus’ ability to explore its offshore,” he said.

Delek defends Leviathan gas reserve potential - UPI

File photo by Maryam Rahmanian/UPI | License Photo

Government estimates came in at about 20 percent less than drilling partners predicted.
By Daniel J. Graeber | June 8, 2016 at 8:25 AM

Partners aiming to exploit the
Leviathan gas field off the Israeli coast defend the field potential amid a government estimate lower than drillers expected.

TEL AVIV, Israel, June 8 (UPI) -- Partners aiming to develop the Leviathan gas field off the coast of Israel said they can exploit the full potential amid questions about reserve estimates.

Delek Group and its partners steering development plans for the Leviathan gas field, considered one of the largest in the world, said they're working on a plan to develop a maximum 741.6 billion cubic feet of natural gas per year.

Egypt's petroleum minister: a man with a plan - PETROLEUM ECONOMIST

Tarek el-Molla believes his country will be a major oil hub, and self-sufficient in natural gas

THE EGYPTIAN energy sector’s fall from promise to penury was swift. Just twelve years ago, two liquefied natural gas plants were about to come on stream – the Segas facility in Damietta and Egyptian LNG’s plant in Idku – each underpinned by several years of consistent, industry-leading success in the upstream that also brought plans for gasification of the local economy. But exploration dwindled, the discoveries ended, and the plants ran out of gas. Saboteurs killed off piped exports from Egypt to the Levant through Sinai. All the while, the energy needs of the Arab world’s most populous country soared, spurred by subsidised prices that drain the country’s budget. The 2011 revolution and the counter-revolutionary upheaval of 2013 destroyed what investors craved: stability.

Government Spokesman addresses AJC, noting strategic partnership of Cyprus and Israel - CYPRUS MAIL / CNA

JUNE 7TH, 2016

Cyprus and Israel are strategic partners and are building on cooperation mechanisms to address common challenges, Government Spokesman Nikos Christodoulides said, addressing an event of the American Jewish Committee in Washington.

Christodoulides addressed one of the conference’s fora, together with Israel’s consul in New York, Amir Sagie, who referred to the importance of building strategic alliances with Israel’s neighbors, especially Cyprus.

Delek Group nears Leviathan funding - NATURAL GAS EUROPE

Yossi Abu, Delek Group

June 06th, 2016

Delek Group, the main Israeli partner in the Leviathan partnership, is close to securing $2bn in funding for its part in the development of Leviathan gas field. The CEO of Delek Drilling Yossi Abu negotiated deals with banks while on a visit to the US last week, according to Israeli business daily Calcalist.

Delek would invest $500mn of its own money in the project. The other main partners are Noble Energy (36.99%) and the Israeli company Ratio (15%). Noble Energy has already said it will not put its own money into the project and would seek loans instead. Last year Noble repatriated $858mn of which a significant amount was supposed to be invested in Leviathan development. Noble might try to sell off some of its holdings in the project before development starts.

Aker Solutions wins umbilicals order for Egypt's Zohr field - WORLD OIL

6/6/2016

OSLO, Norway -- Aker Solutions won a contract to deliver its longest-ever umbilicals system at the Zohr offshore gas field in the Egyptian part of the Mediterranean Sea.

The agreement with Petrobel in Egypt is worth more than NOK 1 billion and will be booked in the second quarter. It stipulates the delivery of 180 km of steel tube umbilicals that will connect the Zohr subsea development to an offshore control platform. Petrobel, a joint venture between The Egyptian General Petroleum Corporation (EGPC) and Eni, is responsible for the development and operations at Zohr.

Vortex of turmoil, vacuum of power - WASHINGTON TIMES

The stabilization of the Mediterranean Sea is more critical than ever

By John Sitilides - - Sunday, June 5, 2016

ANALYSIS/OPINION:
At the core of NATO’s southeastern flank and the nexus of the Middle East, North Africa and Southern Europe, the eastern Mediterranean region a half decade ago was relatively serene. Egypt, Libya and Syria were ruled by enduring dictators. Turkey’s falling out with Israel had been triggered by the notorious Mavi Marmara episode to crack the Gaza embargo. The economic depression in Greece had begun, but its severity was not yet apparent. Cyprus was governed by a Communist, but with little regional impact.