New project in Egypt - BONATTI GROUP

04/NOV/2017

Bonatti Group has been awarded an electrical and instrumentation contract for the development of Zohr, the supergiant gas field discovered in 2015 in Egyptian offshore.

The scope of work is focused on onshore area and includes the key services, materials and equipment required for the safe installation of the project’s onshore electrical, cable, instrumentation, telecommunication and fire and gas equipment.

Such acquisition follows the one awarded by Bechtel to Bonatti’s subsidiary Carlo Gavazzi Egypt in July and confirms the capabilities and the strategic role of the company in the North-African area.

Bonatti Group has a longstanding presence in the country Egypt, with a qualified network of manpower (99% Egyptian nationality) that has worked on projects in the country for decades.

Petroleum Ministry plans to double national production of petrochemicals in 5 year - SADA ELBALAD

Saturday 04/November/2017 - 07:11 PM

Ahmed Moamar

The Ministry of Petroleum released a statement about developing of the petrochemical industries within the next five years until 2021.

The statement assured that 8 projects were carried out worth $ 7.3 billion during the previous years.

Capacity of those projects reach 5 million tons a year.

Energean doubles estimates for Karish, Tanin gas reserves - GLOBES

2 Nov, 2017 12:29
Sonia Gorodeisky

The Karish and Tanin reservoirs contain a potential of 136 billion cubic meters of natural gas - double the initial estimates, according to NSAI.

Greek energy company Energean announced this morning that according to independent assessments by the Netherland, Sewell & Associates Inc. (NSAI) engineering firm, the Karish and Tanin reservoirs contain a potential of 136 billion cubic meters (BCM) of natural gas - double the initial estimates.

Cyprus working extensively to export its natural gas to Egypt - ENERGY EGYPT / INTERAFX / CYPRUS MAIL

Nov 2 2017

Cyprus Hydrocarbon Company (CHC) is working “intensively” towards making gas exports to Egypt possible, General Manager Panos Kelamis told Cyprus Mail. “We want to clinch an agreement, because this would be an agreement for 15-20 years that will offer Cyprus the maximum … We definitely want to go to Egypt, but we have certainly looked at the scenarios of a great discovery and the synergies that will exist,” he says. Kelamis noted that negotiations are tough because “prices are currently low.”

Israeli sources: EU funding, better 'understanding' between Cyprus, Turkey necessary for East Med pipeline to materialize - NAFTEMPORIKI

Wednesday, 01 November 2017 14:42, UPD: 02/11/2017 10:10
V. Kostoulas

The prospect of securing EU funding and a "better understanding" between Cyprus and Turkey are judged as significant factors for achieving the construction of the East Med natural gas pipeline, which would link deposits exploited in the east Mediterranean with west European markets.

Israeli analysts well versed with the Netanyahu government's energy policy directly referred to these two factors in comments to "N" last month, while adding that the proven energy reserves comprise a valuable took in exercising policy in the wider region.

Total, Edison sign lease for oil and gas exploration off Greece - REUTERS

OCTOBER 31, 2017 / 5:46 PM 

Karolina Tagaris, Editing by Susan Fenton

ATHENS (Reuters) - A consortium led by France’s Total moved a step closer to exploring for oil and gas off Greece after signing a lease on Tuesday with the government for a block in the Ionian Sea.

Greece, Israel, and China’s “Belt and Road” Initiative - BESA

Piraeus Container Terminal

October 31, 2017George N. Tzogopoulos

This paper assesses Chinese relations with Israel and Greece since the announcement of the “Belt and Road” initiative. China’s initiative signals the continuation and expansion of a pre-existing incremental policy that aims to strengthen its economic and geopolitical roles, though Beijing’s long-term approach remains unclear.

The Belt and Road initiative does not immediately bring Greece and Israel closer. But it gives the two countries an opportunity to discuss China’s new role in the Mediterranean and to maximize bilateral relationships with Beijing without challenging their pro-West orientation. This is slowly becoming a necessity because of China’s emerging strategy and growing interest in energy projects in Greece and the eastern Mediterranean.

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Israel and the New Geopolitics of Energy - THE JERUSALEM INSTITUTE FOR STRATEGIC STUDIES

31.10.2017
Dr. Emmanuel Navon

The geopolitics of energy is undergoing significant changes, because the “oil weapon” has weakened; Israel has emerged as a natural gas producer; and the Paris Agreement on the environment necessitates a reduction in oil consumption. To take full advantage of the situation, Israel should be export gas to Turkey and Egypt, not just to Europe.

Israel had an “oil problem” at birth. In 1947, the American oil industry lobbied against the partition of Palestine for fear of alienating Saudi Arabia. The oil embargo imposed by OPEC in 1973 seriously affected Israel’s international standing: Western Europe and Japan were now demanding a full and unconditional Israeli withdrawal from all the territories conquered in 1967, and nearly all African countries severed diplomatic relations with Israel.

Energy resources are what enabled Putin’s Russia to pursue an aggressive foreign policy and to rebuild alliances with former Soviet allies (including in the Middle-East). Iran’s nuclear program was built thanks to Russian technology. Iran was able to conclude a nuclear deal with the great powers in 2015 partially thanks to China’s need for Iranian oil and natural gas.

Energy has traditionally been Israel’s Achilles’ heel. Yet recent trends in the world energy market, as well as Israel’s emergence as a natural gas exporter, have transformed and improved Israel’s position. To fully benefit from the new geopolitics of energy, Israel must wisely leverage its natural gas resources vis-à-vis its neighbors, and play a leading role in the energy transition thanks to its technological edge.

Energean Signs Additional Gas Sales and Purchase Agreements for Natural Gas Supply from the Karish and Tanin Fields - BUSINESS WIRE

October 30, 2017 09:41 AM Eastern Daylight Time

LONDON--(BUSINESS WIRE)--Energean Oil & Gas (“Energean” or “the Company”) is pleased to announce that Energean Israel has signed three new Gas Sales and Purchase Agreements (“GSPAs”) with Dorad Energy Ltd. ("Dorad"), and with Ramat Negev Energy Ltd. ("Ramat Negev") and Ashdod Energy Ltd. ("Ashdod"), both subsidiaries of the Edeltech Group, for natural gas supply from the Karish and Tanin Fields, offshore Israel.

“The GSPA’s signed today enable the diversification of natural gas supply sources for local projects and contribute to the companies' business strategies.”

Cyprus Sets End 2018 Date for Verdict on Gas Prospects - NAHARNET / AFP

30.10.2017

Cyprus will know by the end of 2018 if it has exploitable offshore gas reserves after several more test drills are carried out, the island's Energy Minister George Lakkotrypis said Monday.

"Over the next 12 months, we expect to have either four or five drills, which will be extremely important going forward," Lakkotrypis told a parliamentary committee.

"At the end of 2018, we will now know the hydrocarbon resources we have in order to be able to make decisions on our gas exploitation strategy," he added.

Nooros exceeds natural gas production targets - ENTERPRISE

Sunday, 29 October 2017

The Nooros natural gas field daily production capacity reached 1.1 bcf/d, exceeding the targeted 350-400 mfc/d, Oil Minister Tarek El Molla said in a TV interview yesterday, Al Shorouk reports. 

The cost of investment in the gas field, which Italy’s Eni signed the concession for at the 2015 Economic Development Conference, also rounded off to USD 270 mn, below the projected USD 450 mn, El Molla added.