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.

A New Era For Oil And Gas Majors - OIL PRICE

Dec 26, 2017, 6:00 PM CST
Irina Slav

Two and a half years ago, analysts asked when Italy’s Eni would be able to start producing gas from the giant Zohr field offshore Egypt. The overwhelming majority said this would happen no earlier than 2019, and most likely after 2021. But first gas from Zohr flowed earlier this month, in the latest sign that the future of the oil and gas industry will be very different from its past.

Big Oil has traditionally taken its time with new projects, especially offshore ones. They require a lot of exploration, a lot of planning, and a lot of equipment once the final investment decision has been made. But no longer: the 2014 crisis really changed the setting, forcing the mammoths of the industry to at least try to become more nimble and flexible.

Pipeline Puzzle: Who Will Consume Israel’s Natural Gas? - THE ALGEMEINER

DECEMBER 26, 2017 12:04 PM
Alex Traiman /JNS.org

By 2019, Israel’s large Leviathan natural gas field is expected to transform a once resource-poor developing economy into a major energy exporter. Yet for a politically-isolated Jewish state — in a region of oil-rich Arab nations that have often sought Israel’s destruction — finding viable consumers of Israeli natural gas is proving both difficult and expensive.

Future direction of Israel and East Med energy - CYPRUS MAIL

December 24, 2017

Charles Ellinas

Israel’s energy and its direction was the subject of a recent two-day conference in Tel Aviv. It examined the international, regional and Israeli energy markets, development of oil&gas resources, regional gas exports and cooperation, business opportunities, investment and finance and price impact.

The keynote speech was given by Yuval Steinitz, Israel’s energy minister, who made a commitment that coal-fired power generation will be phased-out by 2030, creating more opportunities for natural gas and renewables. This, he said, will lead to natural gas taking an 80 per cent share of the electricity generation market by 2030. He was confident that these developments will succeed and will transform Israel’s energy sector over the next twelve years.

Amit Mor, CEO of ECO Energy and the organiser of the conference, opened the proceedings with a review of global trends and their impact on energy sources and prices, the Israeli and international energy market, and expanded on the question: where is the Israeli energy sector going? He concluded that natural gas and renewables will enhance Israel’s energy and environmental security.

SOCAR: Azerbaijan has large gas reserves to supply pipelines - APA

23.12.2017

The Southern Gas Corridor (SGC) project requires $44-45 billion. $25 billion has been spent so far, Khoshbakht Yusifzade, first vice-president of Azerbaijan’s state oil company SOCAR, said Dec. 23.

He made the remarks at a conference titled “At the intersection of East and West: New energy and communication opportunities", organized by the ruling New Azerbaijan Party (YAP) in Baku, APA-Economics reported.

According to Yusifzade, most of these works have already been carried out.

“The TANAP project will be ready in 2018, the TAP project in 2019. Azerbaijan will supply gas to Europe through these pipelines. Azerbaijani President confirms that Azerbaijan has gas large reserves. The country's proven gas reserves are equal to 2.6 trillion cubic meters. Together with unconfirmed volumes, it is 6 trillion cubic meters. Russia and Iran can also join these pipelines in future,” he noted.

Touching upon the Shahdeniz field, Yusifzade said that there are 200 billion cubic meters of gas and 240 million tons of condensate in the Shahdeniz reserves which are sufficient to fill the pipelines.

TransGlobe increases production from Egypt to 12.8k bpd - ENTERPRISE / TRANSGLOBE

Thursday, 21 December 2017

Canadian oil and gas producer TransGlobe said it produced 12.8 Mbopd from Egypt in 4Q2017. It is currently finalizing its 2018 work plan and budget that will be announced in January, according to its 4Q2017 operational update. TransGlobe announced it lifted and sold 510k bbl of crude in Egypt in late November for estimated net proceeds of approximately USD 24.5 mn (inclusive of realized hedging loss and marketing costs).

Corporate production is expected to average ~15.4 MBoepd for 2017 (12.8 Mbopd from Egypt and 2.6 MBoepd from Canada) representing an increase of ~3.3 MBoepd or 27% over 2016 production of 12.1 MBoepd. Corporate production in 2017 was 93% weighted to oil and liquids (7% weighted to natural gas in Canada) providing excellent torque to strengthening oil prices.

20/DEC/2017 08:30

The field, with potential resources in excess of 30 Tcf of gas in place, started-up in less than two and a half years from the discovery: a record time for a field of this size in deep waters

Enhancing Leadership Potential - MINISTRY OF PETROLEUM EGYPT

TGS and Schlumberger Announce New 2D Multi-client Project in Egyptian Red Sea - TGS

20 December 2017

ASKER, NORWAY (20 December 2017) - TGS-NOPEC Geophysical Company (TGS) and Schlumberger today announced a new 2D seismic project offshore Egypt.

The project will comprise acquisition of a 10,000 km 2D long-offset broadband multi-client seismic survey. Advanced new acquisition and imaging techniques will provide better illumination of complex subsalt structures. The project will integrate all legacy seismic and non-seismic data. Acquisition will commence mid-December and is expected to complete in late Q1 2018.

This project is part of an agreement entered with South Valley Egyptian Petroleum Holding Company (GANOPE) in which Schlumberger and TGS have a minimum 15-year period of exclusive multi-client rights in a ~70,000 km2 open area offshore the Egyptian Red Sea.

Egypt’s super-giant Zohr gas field begins production, completing BP’s major project start-ups for 2017 - BP

20 December 2017

BP today confirmed that production has started from the super-giant Zohr gas field, offshore Egypt. The field is operated by Eni, through its joint venture with The Egyptian General Petroleum Corporation (EGPC), and is the largest natural gas discovery yet to be made in the Mediterranean Sea.

Delivery of first gas from Zohr completes BP’s programme of seven Upstream major project start-ups in 2017. Zohr follows the earlier start-ups of the Khazzan project in Oman, Persephone in Australia, Juniper and the Onshore Compression project in Trinidad, Quad 204 in the UK, and the first phase of the West Nile Delta project, also in Egypt.

Bob Dudley, BP group chief executive, said: “We are proud to have worked with Eni, Rosneft and the Egyptian government to deliver a project that is strategically important for Egypt and will help meet the country’s growing energy demand.

Lebanon approves offshore awards for two blocks - OIL & GAS JOURNAL

HOUSTON, DEC/19/2017
Tayvis Dunnahoe

Lebanon’s Cabinet has approved the recently awarded licenses for Blocks 4 and 9 that lie in northern and southern areas offshore (OGJ Online, Oct. 23, 2017). Energy Minister Cesar Abi Khalil was quoted in The Daily Star saying drilling could begin as early as 2019.

Three companies are included in the consortium exploring both blocks: Total SA, Eni SPA, and OAO Novatek. Lebanon’s offshore is prospective for oil and gas, but the future of its development remains unknown (OGJ Online, July 7, 2017). Despite the announcement, the energy ministry has not released technical details of contracts nor has it disclosed the amount of the bids.

Why One Giant Gas Field Is a Big Deal for Egypt - BLOOMBERG

December 19, 2017, 11:00 PM
Salma El Wardany

The gas imports which once helped Egypt avert power blackouts may soon be a thing of the past. Eni SpA’s massive "Zohr" natural gas field, the Mediterranean Sea’s largest offshore field, started production earlier this month. Its huge reserves could prove a permanent remedy to the most populous Arab nation’s power needs and bring Egypt closer to its goal of energy self-sufficiency.

1. How giant is ‘Supergiant Zohr?’

Discovered in August 2015, Zohr is often described as a "supergiant" field because it has estimated reserves of about 30 trillion cubic feet, equal to the reserves of Israel and Oman combined, making it the largest gas discovery in the Mediterranean Sea. The field covers an area of about 100 square kilometers. On Dec. 16, gas from Zohr began to flow to a facility in Port Said city, with initial production of 350 million cubic feet per day. Daily output is expected to rise to about 1 billion cubic feet in June, and then to 2.7 billion by the end of 2019. President Abdel-Fattah El-Sisi has vowed to tackle the energy shortage as a priority. The project could also eventually enable Egypt to return to exporting gas.

Egypt to allow foreign companies to export gas in five years - ENTERPRISE

Tuesday, 19 December 2017

Egypt will allow foreign companies to “freely” export natural gas not needed for domestic use in five years, Oil Minister Tarek El Molla announced on Monday during Al Ahram’s energy conference, according to Reuters. New exploration contracts contains a clause that allows companies to export a part of their share of extracted gas abroad in the event it is not needed by Egypt, El Molla told a news conference. The move, which comes as part of Egypt’s strategy to become a regional hub for exporting gas next year, comes after the Zohr gas field began production on Saturday, raising Egypt’s production to 5.5 bcf/d by next year.

Shell in talks with Oil Ministry to increase its share of gas produced at Phase 9B - ENTERPRISE

Tuesday, 19 December 2017

Shell has apparently entered talks with the Oil Ministry to increase its share of gas produced to offset their investment costs from Phase 9B of the West Delta Deep Marine Concession, government sources tell Al Borsa. 

The company is looking to recoup the investment costs of developing the concession sooner, they added. 

The company plans to complete developing two test wells in Phase 9B in 1Q2018. BG Egypt, before being acquired by Shell, had suspended work on Phase 9A+ and 9B in March 2016 after the government rejected paying USD 7.00 per mmBtu for Phase 9B.

Egypt to stop importing gas by end-2018: EGAS - DAILY NEWS EGYPT

Tuesday December 19, 2017

Ahmed Ismail

According to Vice President of the Egyptian Natural Gas Holding Company (EGAS) Magdy Galal, the company aims to stop importing liquefied natural gas from abroad by the end of next year.

According to Galal, the Ministry of Petroleum owns the bulk structure that qualifies Egypt to become a regional energy hub. It owns the Sumed pipeline which carries most of the Gulf’s oil to Europe, 9,500 km of crude oil and petroleum products transportation lines, eight refineries with a production capacity of 38m tonnes annually, and 15m tonnes of storage capacity for crude oil and products, in addition to 19 oil ports overlooking the Mediterranean Sea and the Gulf of Suez.

The infrastructure of natural gas transportation includes a main network with a total of 7,000 km, a distribution network with a total of 31,000 km, as well as 29 gas processing plants, two natural gas liquefaction plants in Damietta and Idku, and two floating units to receive liquefied gas with a capacity of about 1,300m cubic feet per day, in addition to the huge natural gas plants that were discovered in the Mediterranean Sea.

Maersk sells its 50% stake in Egyptian Drilling Company to EGPC - ENTERPRISE

Tuesday, 19 December 2017

Maersk Drilling agreed to sell its 50% stake in Egyptian Drilling Company to the EGPC for USD 100 mn, Reuters reports. The cash transaction leaves the EGPC as the sole shareholder of Egyptian Drilling Company.

Dec 18 (Reuters) - MAERSK DRILLING, UNIT OF A. P. MOLLER-MAERSK, SAYS

* IT AND AND EGYPTIAN GENERAL PETROLEUM CORPORATION HAS SIGNED AN AGREEMENT WHEREBY EGPC WILL ACQUIRE A.P. MOLLER - MAERSK‘S 50 PERCENT SHAREHOLDING IN EGYPTIAN DRILLING COMPANY FOR 100 MILLION DOLLARS IN AN ALL-CASH TRANSACTION

* FOLLOWING THE TRANSACTION EGPC WILL BECOME SOLE OWNER OF EDC AND WILL AS PART OF THE AGREEMENT TAKE OVER THE ENTIRE PORTFOLIO, OBLIGATIONS AND RIGHTS Further company coverage: (Copenhagen newsroom)

Egypt Begins Production on Largest Undersea Gas Field in Mediterranean - VOA

December 18, 2017 3:00 PM
Edward Yeranian

CAIRO —

Egypt's economic prospects are looking brighter after the long-anticipated production of undersea gas from the al Zohr gas field began coming online in recent days.

Petroleum Minister Tareq al Molla tells Arab media the al Zohr field will be a major boon for the economy, saving $750 million to possibly several billion dollars a year in energy costs.

He says that the giant al Zohr gas field has a reserve of 30 trillion cubic feet and the first phase of production of 1.2 billion cubic feet per day is expected to be reached around mid 2018, with production being ramped up to 2.7 billion cubic feet per day by mid- to late 2019.

Italy's ENI petroleum company is heading production of the al Zohr field, while the BP company is overseeing production of another large undersea gas field off Egypt's Nile Delta region, known as al Nooros.

Turkey’s first drillship to arrive by end of December - HURRIYET DAILY NEWS

December 18 2017 12:39:00
ANKARA - Anadolu Agency

Turkey’s first drillship, the Deepsea Metro 2, is expected to arrive in Turkey by the end of December in preparation for exploratory offshore drilling in the Mediterranean Sea at the beginning of next year, shipping data showed on Dec. 18.

The data showed that the ship, which will be used by the Turkish Petroleum Corporation (TPAO), left Norway’s Hoylandsbygda port and is expected to arrive in Turkey on Dec. 31.

Turkey has already undertaken oil and gas exploration using two seismic ships, but the Deepsea Metro 2 will be the country’s first active drillship.

The South Korean merchant vessel was produced in 2011, has a length of 229 meters (751 feet), and is capable of drilling into a maximum depth of 40,000 feet.

Government to honor historical gas export contracts - ENTERPRISE

Monday, 18 December 2017

The Sisi administration plans to honor all export contracts Egypt signed before the nation became a net importer of gas back in 2012, said Oil Minister Tarek El Molla, Al Shorouk reports. The statement appears to signal that the government plans to use influx of gas from Zohr, which it hopes will help Egypt become a net gas exporter in 2018, to resolve outstanding contracts which has caused legal headaches for the government. Most significant of these is a ruling by a Swiss court which fined Egypt USD 2 bn in compensation to Israel Electric Corporation (IEC) for halting gas supplies to our eastern neighbor in 2012. The case had led to the government suspending any plans to importing gas from Israel as part of a region-wide collaboration to export gas from the East Mediterranean to Europe. Egypt and Israel have reportedly been holding talks behind closed doors to revive cooperation efforts.

Gazprom’s exports to Turkey up by 18.8% in 2017 - TASS

December 17, 23:49 UTC+3

MOSCOW, December 17. /TASS/. Russia’s gas giant Gazprom said on Sunday is had exported a record-breaking volume of gas to Turkey in a period from January 1 to December 15, 2017, having increased supplies by 18.8% on the same period last year, to 27.6 billion cubic meters.

"In the eleven and a half months of 2017, Gazprom exported 27.6 billion cubic meters of gas to Turkey, its second largest foreign market. The 2014 gas exports record of 27.3 billion cubic meter has been broken," the company said in a press release.

Apart from that, gas exports to other countries that are to be covered by the Turkish Stream gas pipeline, which is now under construction, also increased, including by 10.1% to Greece, by 5.7% - to Bulgaria, by 22% - to Hungary, and by 23.5% - to Serbia.

Exclusive: Saudi Aramco has supplied 1 million barrels of crude to Egyptian refineries in November, December - minister - REUTERS

DECEMBER 17, 2017 / 8:39 AM

Reporting by Abdelrahman Adel; Writing by Nadine Awadalla; Editing by Stephen Coates

CAIRO (Reuters) - Saudi Aramco, the world’s largest oil producer, has supplied 1 million barrels of crude oil to Egyptian refineries, Egypt’s Petroleum Minister Tarek El Molla told Reuters on Sunday.

Egypt and Saudi Arabia will be studying the economic feasibility of continuing to refine Saudi crude in Egyptian refineries by the start of 2018, El Molla said.

Saudi Arabia agreed in April last year to provide Egypt with 700,000 tonnes of refined oil products a month for five years.

Egypt's Giant Zohr Gas Field Starts Production - BLOOMBERG

Tarek El-Molla(Photographer: Yasser Al-Zayet/AFP via Getty Images

December 16, 2017, 3:34 PM GMT+2

Salma El Wardany

• Field starts pumping gas to Egypt national network: El-Molla
• Zohr field may turn Egypt from LNG importer to gas exporter

Egypt’s Eni SpA-operated Zohr natural gas field has started production, bringing the country closer to its goal of energy self-sufficiency.

Gas from the Mediterranean’s largest offshore field is pumped to a facility in Port Said city, to be prepared for delivery to the national distribution network, with initial production of 350 million cubic feet per day, oil minister Tarek El-Molla said in a statement Saturday. Daily output is set to rise to about 1 billion cubic feet in June and 2.7 billion by the end of 2019, he said.

Production from Zohr will help the most populous Arab nation achieve “self-sufficiency of natural gas, ease the burden on the state budget and cut the imports bill," El-Molla said.

Cyprus, Egypt, Greece agree to bolster maritime security - ABC NEWS

Cyprus' Defense Minister Christoforos Fokaides (center), Greek counterpart Panos Kammenos (right), and Egyptian Defense Minister Sedki Sobhi (left) in Cyprus on Thursday, Dec. 14, 2017. 

Dec 14, 2017, 9:54 AM ET

By MENELAOS HADJICOSTIS, ASSOCIATED PRESS LARNACA, Cyprus

The defense ministers of Cyprus, Egypt and Greece agreed Thursday to step up cooperation in combating drug, weapons and people trafficking in the east Mediterranean and to share information on countering the threat of terrorism.

Cypriot Defense Minister Christoforos Fokaides and his Egyptian and Greek counterparts Sedki Sobhi and Panos Kammenos said that they're also setting up a coordinating body to oversee joint special forces drills geared toward protecting vital sea lanes in the eastern Mediterranean.

East Med Pipeline To Boost Europe's Energy Security - PIPELINE TECHNOLOGY JOURNAL

Thu, 2017-DEC-14 12:49
Admir Celovic - Mark Iden

In yet another effort to enhance European energy security by diversifying sources away from Russia, a consortium of countries including Cyprus, Italy, Greece and Israel will build an 1900 km gas pipeline from the Levantine Basin in the eastern Mediterranean to Greece and Italy in 2025.

The East Med Pipeline, as it is being called, would ship up to 16 billion cubic meters (bcm) of gas a year, roughly 5 percent of the EU annual consumption.

IGI Poseidon, a joint venture by Italian firm Edison and Greek company Depa, will build the pipeline - the longest underwater one in the world - at a cost of over €4 billion.

The EU has indicated that it will defray $2 billion, of half the cost, of the construction.

Cyprus, Israel, Italy and Greece intend to sign a binding intergovernmental agreement in 2018.

Total, Eni, Novatek win first Lebanon offshore licenses - WORLD OIL / BLOOMBERG

DEC/14/2017DANA KHRAICHE

BEIRUT (Bloomberg) -- Lebanon granted its first offshore energy rights to a group comprising Total SA, Eni SpA and Novatek PJSC, joining a regional race to find and develop oil and natural gas wealth in the eastern Mediterranean after years of delay.

The cabinet awarded two licenses in its first offshore bidding round, allowing the companies to jointly explore Blocks 4 and 9, Wissam Chbat, a member of the Lebanese Petroleum Administration, said Thursday by phone. The group has one month to prepare legal, administrative and technical paperwork before signing production-sharing contracts with the government in January, Chbat said. Drilling is expected to begin in 2019, he said.

France’s Total, Italy’s Eni and Russia’s Novatek filed their bids to explore the two blocks in October -- the only proposals the government received. The licensing round has encountered setbacks since 2013 amid political disputes over block delineation and government paralysis, leaving Lebanon trailing Cyprus, Egypt and Israel in exploring the eastern Mediterranean. This year bidding was pushed back to give companies more time to understand a new tax law.

Energean awarded five exploration licences, offshore Israel - ENERGEAN OIL & GAS

13 December 2017

Energean Oil & Gas (“Energean” or “the Company”) is pleased to announce that Energean Israel has been awarded five offshore exploration licences (“Licences”) within the Israeli Exclusive Economic Zone (EEZ) by the Israeli Petroleum Commissioner following a recommendation by the Petroleum Council. The initial exploration period under each Licence is three years. 

Oil Ministry expecting Egypt’s natgas output to reach 6.4 bcf/d by mid-2018 - ENTERPRISE

Mid Case Supply / Demand forecast for Egypt (Bcfd)

Wednesday, 13 December 2017

Egypt’s natural gas output is expected to reach 6.4 bcf/d by mid-2018, by which time Zohr will be producing 750 mcf/d and the Nooros gas field will be producing 100 mcf/d, Oil Ministry sources tell Al Borsa. 

Oil Minister Tarek El Molla had previously said natural gas output will reach 6.2 bcf/d by the end of FY2017-18, and that Egypt will reach self-sufficiency by the end of 2018. 

Egypt currently produces 5.2 bcf/d of natural gas.

Energy market in transition - CYPRUS MAIL

DEC 10, 2017

Charles Ellinas

The Energy market in transition was the title of the 22nd national energy conference held in Athens last month and attended by more than 300 delegates – heads of all energy institutions in the country, universities and CEOs of the leading energy companies and leading international participants.

The transformation of the Greek energy market emerged as the dominant topic of the conference. In his keynote speech Minister of Environment and Energy, Giorgos Stathakis confirmed that the ministry is preparing a long-term energy plan to 2030, which will present the policy and basic strategic directions of national energy planning.

Noble Enegry discussing pipeline from Aphrodite to Egyptian LNG plants / AL MASRY AL YOUM

Sunday, 10 December 2017

It looks like Noble Energy is trying to make a play for the potential gas pipeline linking Cyprus’ offshore gas fields to Egypt’s processing facilities, Al Masry Al Youm reports. The group’s senior Vice President of the Eastern Mediterranean area Keith Elliott met with Oil Minister Tarek El Molla to discuss this and other potential energy projects on Saturday.

EGPC signs 3 oil and gas exploration agreements worth USD 50 mn - ENTERPRISE / AL BORSA

Sunday, 10 December 2017

The EGPC has signed oil and gas exploration agreements with three international companies worth a combined USD 50 mn, an Oil Ministry official tells Al Borsa. These include a USD 20 mn oil and gas exploration agreement with our friends at Apex International in the West Badr El Din concession in the Western Desert, a USD 10 mn gas exploration agreement with Trident Petroleum for exploration in the Magawish block of the East Esh El Mallaha concession, and a USD 20 mn oil and gas exploration agreement with Apache-Khalda in the Alam El Shawish concession in the Western Desert.

Pilot production from Zohr field started Saturday: Source - EGYPT TODAY

Sat, Dec. 9, 2017

CAIRO – 9 December 2017: Pilot production from Zohr gas field has kicked off Saturday, with a production capacity of 300-500 million cubic feet a day, an informed source at the Egyptian Natural Gas Holding Company (EGAS) told Egypt Today.

Gazprom's natural gas exports to Europe, Turkey move past 2016 levels to fresh record - PLATTS

London (Platts)--8 Dec 2017 801 am EST/1301 GMTStuart Elliott, Edited by Alisdair Bowles

Russia's Gazprom is set to exceed on Friday the level of exports to Europe and Turkey that was recorded in 2016 as demand for Russian natural ss and cold weather across the continent

• Sales to Europe, Turkey to reach 179.8 Bcm Friday
• CEO points to 'unconditional reliability' of supplies
• Nord Stream set for 87% utilization rate in 2017

Taking into account the nominated volume for Friday, Gazprom will have exported 179.8 Bcm to what it calls the Far Abroad -- Europe and Turkey, but not the countries of the former Soviet Union -- higher than last year's then record high of 179.3 Bcm.

3 Israeli cos buying gas from Karish, Tanin reservoirs - GLOBES

7 Dec, 2017 12:13

Sonia Gorodeisky

Israel Chemicals, Oil Refineries, and OPC will buy 39 BCM over 15 years.

Israel Chemicals (TASE: ICL: NYSE: ICL), Oil Refineries Ltd. (TASE:ORL), and OPC Energy Ltd. (TASE:OPCE), all Idan Ofer-controlled companies, have signed an agreement with Greek company Energean to buy natural gas from the Karish and Tanin reservoirs. The deal includes the supply of 39 BCM of gas over 15 years to the companies: 17 BCM to Oil Refineries, 13 BCM to Israel Chemicals, and 9 BCM to OPC Mishor Rotem. The deal also includes an 18-year extension option.

The price for the deal is believed to total $5.7 billion. Energean estimates that gas will begin flowing from its two reservoirs in 2020. The average price for the deal is about $4.10 per million Btu, 20% lower than the price in the agreements signed for gas from the Leviathan reservoir and 30% lower than the price that Israel Electric Corporation (IEC) (TASE: ELEC.B22) is paying from gas from the Tamar reservoir.

The three companies negotiated jointly with Energean in order to leverage their purchasing power to obtain better terms. At the same time, now that the negotiations have been concluded, each of the companies in the group has a separate agreement that is independent of the agreements with the others.

BASF agrees oil unit merger with Fridman's DEA to spur expansion - REUTERS

DECEMBER 7, 2017 / 9:13 PM

Dmitry Zhdannikov, Ron Bousso, Ludwig Burger

FRANKFURT/LONDON (Reuters) - Chemical giant BASF agreed to merge its oil and gas unit Wintershall with DEA, a vehicle of Russian billionaire Mikhail Fridman, to create one of the largest independent oil and gas firms in Europe, the companies said.

Fridman and his partners in the LetterOne investment vehicle made billions by selling their Russian oil empire in 2013 but have since struggled to expand in the United States and Britain due to sanctions imposed on Moscow despite not being under sanctions themselves.

By folding DEA into Wintershall and creating Germany’s first oil champion, cash-rich Fridman could create new opportunities for growth in large Western markets.

Siemens signs deal to build two gas-fired power plants in Libya - REUTERS

DECEMBER 7, 2017 / 11:40 PM

Reporting by Georgina Prodhan; writing by Douglas Busvine; editing by Andrew Roche

FRANKFURT (Reuters) - Siemens, the German industrial group, plans to build two gas-fired power stations in Libya, in a fillip for its struggling power division which is shedding staff as developed economies shift to renewable sources of energy.

Siemens Power and Gas signed the agreements on Thursday with Libyan state utility GECOL on the plants, a company spokesman said without elaborating.

The deal follows an announcement by Siemens last month that it would cut 6,900 jobs, or around 2 percent of its global workforce. Most of the jobs would be shed by 2020 at its energy unit as demand for gas turbines fades.

Edison takes on Shah Deniz gas supply contract - OFFSHORE MAGAZINE

DEC/06/2017

MILAN, Italy – Edison has agreed to acquire Gas Natural Vendita Italia (GNVI) from Gas Natural Fenosa for Eu192.8 million ($228 million).

GNVI supplied gas and electricity last year to 420,000 residential and 14,000 SME users in Italy.

Under the agreement, Edison will also assume an 11-TWh long-term gas supply contract from the Shah Deniz II development project in the Azeri sector of the Caspian Sea.

Gas imports from the project are set to begin at the end of 2020 following the completion of the Trans Adriatic Pipeline (TAP).

Total consideration payable for the gas supply contract is Eu30 million ($35.5 million), starting from 2021 subject to the first delivery of gas to Italy through the TAP pipeline.

Noble Energy VP: We'll meet our timeline of delivering gas - JERUSALEM POST

December 6, 2017 16:57 
MAAYAN HOFFMAN

The Leviathan offshore natural gas field has brought Israel into a new era, according to Binyamin A. Zomer, vice president for regional affairs for Noble Energy, which operates Leviathan.

Speaking at Wednesday’s Jerusalem Post Diplomatic Conference, Zomer said that since February, when Noble Energy announced a “final investment decision” – a commitment to fully invest in the development of the Leviathan natural gas field off the Haifa coast, Israel’s biggest-ever infrastructure project – the company has completed almost 30% of the project.

“We will meet our timeline of delivering gas to Israel and neighboring countries before the end of 2019,” said Zomer.

Israel expects gas to flow from east Mediterranean to Europe - THE WASHINGTON POST

From left, Cyprus’ energy minister Yiorgos Lakkotrypis, Greece’s Energy minister Giorgos Stathakis, Israel’s Energy minister Yuval Steinitz and Italian ambassador in Cyprus Andrea Cvallari  after the East Med Pipeline agreement signing at “Filoxenia” conference center in capital Nicosia, Cyprus, on Tuesday, Dec. 5, 2017. 

By Menelaos Hadjicostis | AP December 5 at 9:24 AM

NICOSIA, Cyprus — A potential undersea pipeline carrying natural gas from deposits in the eastern Mediterranean to Europe is “very realistic” and could help secure the continent’s energy future, Israel’s energy minister said Tuesday.

Yuval Steinitz said that a study on the “strategic” EastMed Pipeline Project shows that the pipeline is feasible, even though it presents technical challenges due to the depths involved.

Egypt's Atoll gas field begins test production - minister - REUTERS

DECEMBER 5, 2017 / 2:15 PM

Reporting by Abdel Rahman Adel; Writing by John Davison; Editing by Greg Mahlich

CAIRO (Reuters) - Test production at Egypt’s Atoll offshore gas field began on Tuesday with a production capacity of 300 million cubic feet per day, Petroleum Minister Tarek El Molla said.

Actual production would begin in the third week of December, El Molla told Reuters.

BP decided in November 2015 to fast-track the development of Atoll, estimated to contain 1.5 trillion cubic feet of gas and 31 million barrels of condensates.

Lebanon sets 80% local worker requirement - OIL & GAS JOURNAL

DEC/05/2017HOUSTON

Lebanon will require that the workforce of its prospective oil and gas industry be 80% Lebanese.

Energy Minister Cesar Abi Khalil said in a news conference in Beirut that the requirement is part of legislation to be submitted soon to the Cabinet, according to Lebanese press reports.

The country in October concluded its first offshore licensing round after nearly 4 years of delay caused by political conflicts and a vacancy in the presidency.

The round drew bids from two of five blocks on offer from a consortium of Total SA, Eni SPA, and Novatek (OGJ Online, Oct. 13, 2017).