Shell starts Production in (9b) October 2018 - EAST MEDITERRANEAN GAS NEWS

Cairo August 3 2018
Suzan Nour

Rashid Petroleum Company (Rashpetco) to start production from the first two wells in phase two (9b) in the West Delta region deep waters of the Mediterranean Sea during the first half of October.

Adding eight production wells and two exploration wells will be completed in the third quarter of 2019 to reach overall production rates about 400 million cubic feet of gas and 3,000 barrels of condensate per day.

Why Is Israel Spending $500m to Protect Gas Facilities Close to Home? - HAARETZ

Aug 02, 2018 6:04 AM
Hagai Amit
The navy is ordering ships designed to protect drilling platforms far from the coast, even though they will be just 10 kilometers from the shore

The debate under way over how far offshore the natural gas production platforms should be located raises another question about why Israel’s navy is spending 430 million euros ($502 million) to buy four corvettes from Germany.

If plans to locate the facility 10 kilometers from Israel’s coast go ahead as planned, despite protests of residents near Dor Beach concerned about the environmental impact, the Israel Navy will be equipped with a fleet of expensive firepower completely disproportionate to the threats it will face.

The platform, which is being built in Texas and is due to arrive in about six months, will service the giant Leviathan field when it goes into production.

UPDATE 2-Turkey's Botas hikes natural gas price for power generation by 50 pct - sources - REUTERS

JULY 31, 2018 / 10:55 PM

Orhan Coskun

• Turkey links gas prices to dollar
• Energy regulation authority hikes electricity prices
• Botas also hikes natural gas prices for residential use (Adds hikes to electricity and natural gas consumer prices)

ANKARA, July 31 (Reuters) - Turkey’s state pipeline operator Botas will hike the price of natural gas used for electricity production by 50 percent as of Wednesday, sources said.

The price hike was “inevitable” due to a weaker lira pushing oil and natural gas prices higher, as Turkey is mostly dependent on energy imports, energy sources told Reuters.

Earlier on Tuesday, the central bank hiked its crude oil price assumption to $73 from $68.

Ankara insists on East Med plans - KATHIMERINI

Cavusoglu, Turkey (L), Mogherini, EU (right)

WEDNESDAY AUGUST 1, 2018, 14:52

Recent statements from Turkish officials suggest that Ankara has no plans to back away from its energy plans in the Eastern Mediterranean, including sea areas under Cyprus’s (EU) jurisdiction.

Turkish Foreign Ministry spokesman Hami Aksoy this week urged foreign diplomats in Cyprus not to overstep their authority. His statement was in response to comments by Israeli and Egyptian ambassadors in Nicosia during a diaspora conference between July 25 and 27.

“The remarks made by some ambassadors during a recent conference in the Greek-Cypriot administration, in support of the unilateral hydrocarbon-related activities being conducted by the Greek Cypriots in the Eastern Mediterranean, are unwarranted,” he said, adding that Turkey would “recommend to the representatives of the relevant countries that they do not exceed their authority.”

FinMin to impose a real estate tax on oil and gas developments - ENTERPRISE

Wednesday, 1 August 2018

EXCLUSIVE- FinMin to impose a real estate tax on oil and gas developments: The Finance Ministry is planning to impose a real estate tax on oil and gas assets, according to documents seen by Enterprise. The move appears to have been in the works for some time and according to the documents, the Finance Ministry, the EGPC and oil and gas companies have been holding meetings on how this real estate tax would be imposed. It is not yet clear whether an agreement had been reached with foreign and local energy companies with regards to the tax. Nonetheless, the ministry had drafted a framework and formula for how the new tax would work and sent it to the Oil Ministry for approval and sign off.

Government considering its gas options - CYPRUS MAIL

JULY 31, 2018

Elias Hazou

The government is said to be mulling its options after the consortium holding the license for the Aphrodite gas field proposed amending the revenue-sharing agreement with the Cypriot state.

Under the proposal recently floated by the consortium of Noble, Shell and Delek, the overall long-term revenues to the state would decline by €2.3 billion – according to daily newspaper Politis – or by up to 20 per cent compared with the current contract, daily Phileleftheros reported.

On Monday, energy minister Giorgos Lakkotrypis gave a behind-closed-doors briefing to MPs on the overall state of play in the hydrocarbons sector, with emphasis on Aphrodite gas.

According to information that has leaked, Lakkotrypis told lawmakers the government rejects the consortium’s specific proposal.

EGPC signs USD 46 mn oil and gas exploration agreement with BP - ENTERPRISE

Tuesday, 31 July 2018

The Egyptian General Petroleum Corporation (EGPC) signed a USD 46 mn agreement with BP yesterday for oil and gas exploration the in Gulf of Suez, according to a statement picked up by Ahram Gate. 

The agreement also includes a USD 4 mn to cover the cost of drilling three wells. The Oil Ministry said it is currently finalizing procedures for 13 other agreements that will be announced soon. 

The new agreement comes as the government steps up exploration activities in FY2018-19 as Egypt marches toward natural gas self-sufficiency and bids to become a regional energy export hub.

Building New Natural Gas Rig Off Israel's Shores Poses High Ecological Risks, Expert Warns - HAARETZ

Jul 30, 2018 10:07 PMZafrir Rinat 

One of the world’s leading experts on the environmental consequences of gas and oil pollution, Prof. Rick Steiner, is warning of the risks posed by erecting a platform only 10 kilometers from Dor Beach to process natural gas from the Leviathan gas field.

He argued that it isn’t too late to rethink the idea and instead operate a floating platform much closer to the drilling site, which lies over 100 kilometers further from shore.

Steiner spoke Monday at a press conference held by Shomrei Habayit (“Homeland Guards”) an organization representing residents of the Carmel shore region that is battling against the platform’s construction.

Steiner prepared a detailed report for Shomrei Habayit saying that operating the gas platform near the shore increases the likelihood of serious damage to the marine environment and the beach, should there be a malfunction or a hostile attack on the facility.

Steiner criticized the planning and decision-making process. He noted, among other things, that in important documents dealing with the environmental impact of the platform’s activity, large sections were redacted because Noble Energy, one of the partners operating Leviathan, claimed they contained trade secrets.

Edison to begin drilling exploratory wells in Mediterranean concessions in 2H2019 -ENTERPRISE

Sunday, 29 July 2018

Italy’s Edison will begin drilling exploratory wells at its North East Hapi and Theqa (Thekah) concessions in 2H2019, Oil Minister Tarek El Molla said. 

The company’s studies of the concessions show geological structures that indicate there is a “good chance” the areas hold natural gas reserves. 

Edison had signed an USD 86 mn agreement with EGAS in January 2017 for E&P operations.