Lebanon’s High Risk Offshore Oil & Gas Boom - OIL PRICE / YAHOO

August 24, 2019

Cyril Widdershoven

The least known offshore oil and gas frontier in the East-Mediterranean, Lebanon is preparing itself for a possible entrance into the producer’s league.

At the end of 2019, most probably November – December, offshore drilling is expected to start, targeting some prolific basins. The offshore success stories in Israel, Cyprus and Egypt, have supported the appetite of Beirut to take the plunge too. Nada Boustani, Lebanon’s Minister of Energy and Water, also reiterated that the country’s second licensing round is receiving lots of interest. Lebanon estimates its natural gas reserves at 25 trillion cubic feet (tcf) based on seismic studies, but these have not been confirmed by drilling and may not amount to reserves that are commercially viable.

In an interview given to the international press this week, Boustani showed extreme optimism about the expected results, hoping that an offshore gas discovery would give a big boost to the currently struggling Lebanese economy.

Multinational consortium named for LNG construction - CYPRUS MAIL

August 23, 2019
George Psyllides

Α multinational consortium of JV China Petroleum Pipeline Engineering Co Ltd, Aktor S.A. and Metron S.A., with Hudong-Zhonghua Shipbuilding Co. Ltd and Wilhelmsen Ship Management Limited ranked first in the evaluation for the construction of the infrastructure required for the introduction of natural gas in Cyprus, it was announced on Friday.

It followed a lengthy and complex tender process overseen by the state natural gas company, Defa, in cooperation with external industry experts.

The top ranked bidder had to satisfy a series of qualitative, quantitative and financial criteria, so as to be able to demonstrate an ability to perform at the high standards set by Defa regarding the development of the Cyprus natural gas market infrastructure.

Zohr natural gas field production rises to 2.7 bcf/d - ENTERPRISE

Thursday, 22 August 2019

Production from the Zohr natural gas field has reached the 2.7 bcf/d mark four months ahead of schedule, Oil Minister Tarek El Molla said in a statement. 

This is significantly higher than the figures provided by Rosneft, which last week said production was currently averaging 2.4 bcf/d. 

The oil ministry’s figures mean that output has increased by 600 mcf/d since February, when the production stood at 2.1 bcf/d. 

Twelve wells in the field are now producing gas, the statement said. Field operator Eni originally estimated that production would peak at 2.7 bcf/d, but the ministry later said that output would rise above that to 3 bcf/d. 

Reuters also picked up the story.

Eni: Zohr gas production reaches 2.7 bcfd - ENI

21/08/2019 15:15

San Donato Milanese (Milan), 21 August 2019 - Eni announces that the production from Zohr field has now reached more than 2.7 billion cubic feet per day (bcfd), about 5 months ahead of the Plan of Development (PoD).

This remarkable result has been achieved following the completion of all eight onshore treatment production units – the last one commissioned in April 2019 – and all Sulphur production units in August, the production start-up of two wells in the southern culmination of the field (in addition to the ten wells already drilled in the northern culmination) as well as the start-up on August 18th 2019 of the second 216 km long 30” pipeline connecting the offshore subsea production facilities to the onshore treatment plant.

The new pipeline, in conjunction with the completion and optimization of the plant treatment capacity, paves the way to increase, by the year end, the field potential production rate up to 3.2 bcfd against the POD’s plateau rate of 2.7 bcfd.

Wintershall DEA to begin natgas production at Raven field next month - ENTERPRISE

Wednesday, 21 August 2019

Wintershall DEA will begin natural gas production from its Raven field in September, unnamed sources told Amwal Al Ghad. 

The field is expected to produce up to 900 mcf/d of natural gas, and between 20k to 25k bbl/d of condensates.

US urges Turkey to seize all activity in Cyprus’ EEZ - KATHIMERINI

Foreign Minister Christodoulides (L) & Secretary of State Pompeo

20.08.2019 : 10:48

The US State Department on Tuesday called on Turkish authorities to cease immediately any “unlawful activities” in Cyprus’ territorial sea and remove its drillship, Yavuz.

Turkey has already established a presence in the region with its Yavuz and Fatih drillships and the Barbaros research vessel.

On Monday, Turkish Foreign Minister Mevlut Cavusoglu announced that a fourth Turkish ship, the Oruc Reis research vessel, is on its way to the region.

“This provocative step raises tensions,” the State Department said responding to questions from Hellas Journal and Cyprus News Agency, adding that only Cyprus, acting through its government, can consent to activities such as drilling within its territorial sea.

It also said that resource development in Eastern Mediterranean should promote cooperation, provide foundation for durable energy security and economic prosperity.

Egypt plans to expand household natural gas supply network by 950 km - ENTERPRISE

Sunday, 18 August 2019

The government is planning to expand Egypt’s natural gas supply network into the households by 950 km by the end of 2023, Oil Minister Tarek El Molla said, according to Mubasher. 

This would bring the length of the network to 8750 km. 

El Molla did not mention the expected cost of the expansion, nor the expected increase in the percentage of households with access to natgas.