Two Oil Majors Submitted their Bid for the Lebanese Licensing Round - LEBANON GAS NEWS

13.10.2017

Total and ENI along with Novatek submitted in one consortium their bid in the First Lebanese Licensing Round.

The consortium submit its bid on two offshore blocks, 4 and 9.

Lebanon relaunched the licensing round for five offshore blocks (1, 4, 8, 9 and 10) in January after a three-year delay due to political paralysis.

The single bid is presently under evaluation by the Lebanese Petroleum administration, which will send its recommendation to the minister of energy Eng. Cesar Abi Khalil. The minister on its turn will relay it to the council of ministers for final approval.

Lebanon is hoping to make its first award by the end of the year.

Greek utility eyes greater LNG purchases in next 3 years due to higher demand - NAFTEMPORIKI / REUTERS

Friday, 13 October 2017 22:12
K. Deligiannis

Greece’s state-run natural gas supplier (DEPA) is eyeing purchases of greater quantities of liquefied natural gas (LNG) over the coming three-year period, a move attributed to growing demand in the country and the region.

The development could also mark the inaugural supply of LNG from North American providers.

The utility's board of directors this week approved a tender for LNG supplies, open to European and US companies.

According to figures released late last month by the natgas grid operator in the country, DESFA, and the independent statistics authority, LNG supplies to Greece in 2016 increased by 30.5 percent – deliveries and re-exported quantities – compared to 2015.

According to preliminary estimates for the current year, a 30-percent increase in LNG supplies is forecast.

Shell plans to drill 63 wells in Egypt in 2018 - EGYPT TODAY

Thu, Oct. 12, 2017

CAIRO – 12 October 2017: Royal Dutch Shell planned to drill 63 wells in Egypt in 2018 at different geological structures in the Western Desert, Shell’s director Andrew Brown announced Thursday.

“This targets increasing oil and gas production volume in the Western Desert,” Brown added.

In a Thursday meeting with Prime Minister Sherif Ismail and Minister of Petroleum Tarek El-Molla, Brown explained that Shell’s projects in the next period include Phase 9b in the West Delta Deep Marine Concession with $1.6 billion in total investments.

Brown has also presented plans and recommendations of his company to increase investments in the oil and gas exploration and production.

In June, Shell said it plans to increase investments in oil and gas explorations in Egypt.

Bids on Lebanon offshore energy blocks close - REUTERS

OCTOBER 12, 2017 / 9:29 PM
Reporting by Angus McDowall & Lisa Barrington; editing by David Evans & Jonathan Oatis

BEIRUT (Reuters) - Lebanon’s Energy Minister Cesar Abi Khalil on Thursday said a tender had closed on a first round of offshore energy blocks, and told local media that two consortiums had submitted bids.

Greek firm Gastrade signs LNG deal with state-owned DEPA - REUTERS

OCTOBER 12, 2017 / 8:32 PM

Reporting by Angeliki Koutantou. Editing by Jane Merriman

ATHENS, Oct 12 (Reuters) - Greece’s state controlled natural gas firm DEPA signed a cooperation agreement on Thursday with natural gas company Gastrade to participate in the development of a liquified natural gas terminal in northern Greece, DEPA said.

Greece currently has one LNG terminal on an islet off Athens. Gastrade, part of Greek energy group Copelouzos, is planning a second LNG terminal near the northern city of Alexandroupolis.

The project has been described as a ‘project of common interest’ by the European Union.

Blast at Tupras refinery in Turkey kills four - HYDROCARBON PROCESSING / REUTERS / DAILY SABAH

October/11/2017Writing by Daren Butler; Editing by Dominic Evans

ISTANBUL (Reuters) — An explosion in a storage tank at a Tupras refinery in the western Turkish province of Izmir on Wednesday killed four people but had no impact on production, the company said.

Tupras said in a statement that the explosion occurred following maintenance work on Wednesday morning.

Television footage showed black smoke rising from the site of the blast.

DAILY SABAH, October 11, 2017

The refinery, operated by Turkey's only oil refiner in the Aliağa district, is the country's second-largest in terms of its annual processing capacity of 11 million tons.

Crucial decisions on gas find by end of 2018, says minister - CYPRUS MAIL

October 11, 2017

Andria Kades

Cyprus will take decisions over the monetisation of its natural gas reserves by the end of 2018 following explorations by Exxon Mobil and Qatar Petroleum consortium in Block 10, Energy Miniter Yiorgos Lakkotrypis said on Wednesday.

Speaking during a panel discussion at the Maritime Conference taking place in Limassol, Lakkotrypis said there will be a clearer picture next year, as the consortium will carry out two drillings in block 10 in the second half of 2018.

The new drilling activity comes after an exploration by French Total in block 11, which although did not reveal commercially viable gas reserves, proved that the geologic model, which led to the discovery of the giant Egyprian Gas field Zhor, “works for Cyprus” Lakkotrypis said.

“By the end of 2018 we will have concluded what I called exploration round 2.0 which started with the discovery of Zhor completed and that is the moment we will have a pretty good idea. That will be the moment when Cyprus will take its decision about monetisation,” he added.

Jordan’s Energy Minister looks to expand energy cooperation with Egypt - ENTERPRISE

Wednesday, 11 October 2017

Jordan’s Energy Minister Saleh Kharabsheh is in Egypt to discuss expanding energy cooperation. Along with Oil Minister Tarek El Molla, he attended the signing of two MoUs between Jordanian Egyptian Fajr for Natural Gas Transmission & Supply, Fajr Egypt, the Egyptian Natural Gas Company (Gasco), and Egypt Gas. 

The first agreement will see the establishment of a JV between the companies to operate oil and gas pipelines in Jordan, while the second pertains to feasibility studies on a number of natural gas grid development and expansion projects in Jordan, according to Al Mal. 

Kharabsheh also met with Electricity Minister Mohamed Shaker to discuss establishing a second power line connecting the electricity grids of both countries, a proposal Shaker welcomed.

Major oil pipeline between Iraq and Turkey to bypass Kurdish region - MIDDLE EAST MONITOR

October 11, 2017 at 2:16 am

Iraq and Turkey have intensified their efforts to isolate independent seeking Kurds by bypassing the region while re-opening a disused oil pipeline between the two countries.

The central government in Iraq wants to restore one of its oldest pipelines that run from Kirkuk in the Kurdish region of Iraq to Mediterranean port of Ceyhan in Southern Turkey. The pipeline was damaged in areas occupied by Daesh until Iraqi forces regained control of the region late last year.

Iraq’s oil minister, Abdul Karim Luaibi Bahedh announced in a statement today, repairs to the pipeline, which was once a key artery of Iraq’s oil export.

Eni looks to Crete to further East Mediterranean exploration - OIL & GAS JOURNAL

HOUSTON, Oct. 9 2017
Tayvis Dunnahoe
OGJ Exploration Editor

Italy’s Eni SPA is eyeing acreage near Crete as Greece works toward opening its offshore to oil and gas development. According to Greece’s Kathimerini web site, Eni is taking the likely step from its foothold on the neighboring Cypriot market to expand its scope in the southeastern Mediterranean and the Greek market.

The company is expected to face strong competition with the consortium of Hellenic Petroleum, Total SA, and Edison considering the same area for development. Competition will strengthen Greece’s negotiating position ahead of signing concession contracts (OGJ, Aug. 27, 2017, p. 34).

Rosneft Closes the Deal to Acquire a 30% Stake in Zohr Gas Field - ROSNEFT

09 October

Rosneft closed the deal to acquire a 30% stake in the concessions agreement for the development of Zohr field, the largest gas field in the Mediterranean Sea, from Italian company Eni S.p.A.

The cost of Rosneft stake acquisition is USD 1.125 bln. The Company also refunded its share in past project costs to Eni.

The Company becomes a participant of the project to develop the largest deepwater gas field offshore Egypt jointly with other world majors and strategic partners of Rosneft – Eni (60% stake) and BP (10% stake).

EGAS to issue new oil and gas exploration tenders in 2018 - ENTERPRISE

Monday, 9 October 2017

EGAS plans to issue new oil and gas exploration tenders in 2018, an unnamed company official tells Al Shorouk.  

We had said last month that EGAS was planning to issue global tenders for the West Mediterranean concession once Norwegian firm PGS releases the results of its seismic survey for the area before the end of FY2017-18.

Learn more about EGAS.

Six lenders to secure EGP 2.3bn for GPC - AL MAL

Sunday 08 October 2017 12:11 PM
Moahmed Salem

Egypt’s General Petroleum Company (GPC) has signed a financing agreement with a banking alliance made up of 6 local lenders to obtain a loan of EGP 2.3bn to finance oil and gas exploration and drilling operations.

The vice chairman of the National Bank of Egypt (NBE) Yehia Abul Fotooh said that the banking alliance arranging the deal includes NBE, Banque Misr, Arab African International Bank, Societe Arabe Internationale De Banque (SAIB), EG Bank and Union National Bank – Egypt.