Monday, December 28, 2020

EGAS Exports 33.9 bcf of Natural Gas to Jordan in FY 2019/20 - EGYPT OIL & GAS

Monday, 28th December 2020

The Egyptian Natural Gas Holding Company (EGAS) exported about 33.9 billion cubic feet (bcf) of natural gas to Jordan through the Arab Gas pipeline in the fiscal year (FY) 2019/20.

The company also highlighted that the exported liquefied natural gas (LNG) from Idku gas liquefaction plant reached about 120 billion cubic feet of gas equivalent (bcfe) through 33 LNG shipments.

The company also stated that the national plan of natural gas households’ delivery has been amended from 1 million housing units to 1.1 million units. It added that its targeted plan in FY 2020/21 is to deliver natural gas to 100 industrial and 1000 commercial facilities.

Thursday, December 24, 2020

Cyprus’s one-way road to natural gas - FINANCIAL MIRROR

24 December 2020
Costis Stambolis

As Cyprus has embarked on the road to introducing natural gas to its energy system, following the signing of agreements by DEFA – Cyprus’s gas company – with contractors and suppliers last July, attention is now shifting on the role that gas is expected to play in the island’s economic development. According to the timetable presented by Simeon Kassianidis, DEFA’s chairman, at the 8th Cyprus Energy Forum on December 15, construction and mooring of the €300 million FSRU type LNG terminal to be located in Vasilikos, will be completed by autumn 2022 when first gas deliveries are scheduled.

Gas will then be channeled on a priority basis to the Vasilikos power station complex run by the Electricity Authority of Cyprus (EAC).

The thermal power stations run by EAC, which at present use highly polluting fuel oil, will switch to gas, thereby slashing their GHG emissions by at least 50%. Subsequently, the rest of the power stations operating on the island will convert to gas as this is mandatory, according to EU directives, in order to lessen their environmental impact.

Friday, December 18, 2020

UK extends sanctions for East Med drilling - KATHIMERINI

18.12.2020 : 21:11
Vassilis Nedos

The United Kingdom has announced the extension of sanctions on persons involved in illegal drilling in the Eastern Mediterranean, namely in Cyprus, beyond December 31, when the transitional period for the UK’s formal exit from the European Union expires.

According to the UK Foreign Office, the Unauthorized Drilling Activities in the Eastern Mediterranean regime includes sanctions for “discouraging any activity of exploration, production or extraction of hydrocarbons that has not been authorized by Cyprus in its territorial sea or/and in its exclusive economic zone and on its continental shelf.”

It added that this includes activities which may jeopardize or hamper the reaching of a delimitation agreement “in cases where the exclusive economic zone or continental shelf has not been delimited in accordance with international law with a state having an opposite coast.”

Thursday, December 17, 2020

Gas Sales Agreements to supply an additional 0.4 Bcm/yr of gas in Israel - ENERGEAN OIL & GAS

London, 17 December 2020

Energean plc (LSE: ENOG, TASE: אנאג (is pleased to announce that Energean Israel Limited (Energean 70%) has entered into a new set of agreements and amendments to existing agreements with Rapac Energy Limited and its related companies to supply an additional amount averaging 0.4 Bcm/yr of gas for terms of between 6 and 15 years commencing from first gas from the Karish gas development project. The agreements include take-or-pay, exclusivity and floor pricing provisions.

Energean Israel Limited now has gas sales agreements in place to supply approximately 7.4 Bcm/yr of gas on plateau. All contracts contain provisions for take-or-pay and / or exclusivity, and floor pricing, ensuring that Energean’s revenue stream in Israel is secured, predictable and largely insulated from global commodity price fluctuations, supporting Energean’s target to begin paying a dividend following first gas from the 8 Bcm/yr Karish project, which is currently expected in Q4 2021.

Wednesday, December 16, 2020

Cyprus energy designs unaffected by Turkey's provations, President says - KATHIMERINI / CNA

15 DECEMBER 2020 - 16:25

The Republic of Cyprus has been assured that ExxonMobil, Qatar Petroleum, Total and Eni are planning their drilling activities for the second half of 2021

Cyprus President Nicos Anastasiades said Tuesday that that the Republic, as a sovereign and independent state and despite Turkey’s provocations, threats and illegal activities, is determined to go ahead with the implementation of its energy policy.

He said the government is continuously in touch with all oil and gas companies licensed to operate within its Economic Exclusive Zone (EEZ), with all assuring that they remain committed to their contractual obligations and that in this context ExxonMobil, Qatar Petroleum, Total and Eni are planning their drilling activities for the second half of 2021.

President Anastasiades was addressing the 8th Energy Symposium, organised online by the Southeastern Europe Energy Institute and Financial Media Way.

Friday, December 11, 2020

DESFA lands LNG project in Kuwait - KATHIMERINI

11 December 2020 : 22:21
Chryssa Liaggou

Greece’s gas grid operator is making a dynamic entry into the international scene after landing a significant project in Kuwait.

The Hellenic Gas Transmission System Operator (DESFA) has undertaken the operation and maintenance of a new liquefied natural gas (LNG) terminal under construction in the Gulf country, which is expected to start operating in 2021.

DESFA outbid six other suitors short-listed by KIPIC, a subsidiary of the state oil company of Kuwait, to secure the management and maintenance of the LNG station being constructed at al-Zour, some 90 kilometers from the country’s capital city.

The Greek company announced that the contract it has secured with KIPIC will last for a minimum of five years, and DESFA earned it after the completion of the second and final stage of the tender.

It added that a key role in its successful bid belonged to the high specialization and expertise of DESFA’s stakeholders, Snam and Enagas, and to the experience that the Greek gas grid operator has gained from managing the country’s transmission system and the LNG terminal on the island of Revythousa.

Monday, December 7, 2020

Energean in exclusive talks to buy PE Kerogen's stake in Israeli gas fields - REUTERS

December 7, 2020 - 10:59

(Reuters) - Gas exploration and production company Energean said on Monday it was in exclusive talks to buy Kerogen Capital’s 30% stake in Energean Israel in order to take full control of the Karish and Tanin gas field leases, offshore Israel.

The company, which currently holds a 70% interest in Energean Israel, said the flagship Karish gas development project is expected onstream in the fourth quarter of 2021.

Reporting by Yadarisa Shabong in Bengaluru

Friday, December 4, 2020

Defa chairman says gas brings millions of euros to Cyprus - CYPRUS MAIL

December 4, 2020
Andrew Rosenbaum

“The import of gas into Cyprus has the potential to transform the country’s economy and, as a result of this gasification of the island and the region, is already bringing in millions of euros,” Cyprus Natural Gas Public Company (DEFA) chairman Symeon Kassianides pointed out.

Speaking at a webinar sponsored by the Petroleum Economist magazine entitled “Unlocking the potential of East Med Gas,” Kassianides explained the many benefits of the import of gas to Cyprus.

“Not only does it permit the reduction of electricity costs, which are among the highest in Europe, but also because it will permit the opening up of the electricity market. This has been open for some time, but the sale of electricity to the grid depends on the arrival of gas on the island – independent electricity producers had dormant licences which are soon to become a reality.”

“Another new reality is the creation of gas-powered generation plants which are now coming to Cyprus. Renewable generation projects are planning to use gas turbines so that they can produce cheap electricity round the clock and not only when the sun is up during the day. This will make renewables even more viable, so in terms of the energy production we have a complete transformation.”

Tuesday, December 1, 2020

Eni strikes deals to reopen Egypt's Damietta LNG plant - REUTERS

December 1, 2020
Stephen Jewkes

MILAN (Reuters) - Italian energy group Eni has struck deals with Spanish gas firm Naturgy and Egyptian partners to resolve disputes over a shuttered gas plant it part owns in northern Egypt.

Eni said in a statement on Tuesday that the new agreements would pave the way for the liquefied natural gas (LNG) plant in the port city of Damietta to restart operations by the first quarter of next year.

An earlier deal hammered out between Eni, Naturgy and the Egyptian government over the plant fell through in April when a series of conditions were not met.

The new deal, which still needs the green light from European Union authorities as well as other conditions to be met, will allow Eni to increase its LNG portfolio and strengthen its gas foothold in the Eastern Mediterranean.

Wednesday, November 25, 2020

EMC - Assessing the Outlook for Cyprus in 2021; Developing Cyprus as a Post Covid E&P Hub for the EMEA Region

With many of the global E&P projects halted or slowed by the ongoing COVID-19 crisis, the Eastern Mediterranean basis is no different.  With presentations from the Ministry of Energy of Cyprus, CHC, PWC, DEFA & Invest Cyprus – this webinar will assess the outlook for E&P activity as well the development of Cyprus as a central sustainable energy hub.

Wednesday, November 11, 2020

Egypt inks $15bln oil, gas deals in six years - ZAWYA / MUBASHER

11 November, 2020

Cairo – Egypt signed 86 agreements worth $15 billion with major oil and gas companies over the last six years, the Minister of Petroleum and Mineral Resources, Tarek El-Molla, revealed.

Total petroleum investments reached about $76bln in six years.

From 2014 to 2020, total petroleum investments reached about EGP 1.2 trillion, thanks to the reforms conducted in the oil and gas sectors, El-Molla added in a statement on Wednesday.

In 2019, Chevron and ExxonMobil signed deals in Egypt, bringing the total number of companies operating in the oil and gas exploration and production sector in the country to more than 60 in 164 concession areas.

El-Molla further revealed that the country signed 14 new petroleum agreements from March until October.

Friday, November 6, 2020

EU extends sanctions framework against Turkey over gas drilling by one year - PLATTS


06 Nov 2020 | 12:43 UTC London
Stuart Elliott, Editor: Alisdair Bowles 

London — The EU Council on Nov. 6 extended by one year its framework for sanctions that can be imposed against those responsible for Turkey's gas exploration work in disputed waters of the East Mediterranean.

The Council first adopted the sanctions framework in November last year.

"The Council today adopted a decision extending for one year, until Nov. 12, 2021, the existing framework for restrictive measures in response to Turkey's unauthorized drilling activities in the Eastern Mediterranean," it said.

"The EU will therefore maintain its ability to impose targeted restrictive measures on persons or entities responsible for or involved in unauthorized drilling activities of hydrocarbons in the Eastern Mediterranean," it said.

The sanctions would consist of a travel ban to the EU and an asset freeze for persons, and an asset freeze for entities.

In addition, EU persons and entities are forbidden from making funds available to those listed, it said.

The two officials to be placed under sanctions in February were TPAO exploration head Mehmet Ferruh Akalin and deputy exploration director Ali Coscun Namoglu.

Monday, October 26, 2020

BP fires up gas field offshore Egypt - OFFSHORE ENERGY

October 26, 2020
Nermina Kulovic

Through BP’s joint venture, Pharaonic Petroleum Company (PhPC), the Qattameya field has been developed ‎through a one-well subsea development and tie-back to existing infrastructure.‎

Announcing the production start-up, BP said on Monday that the field is ‎expected to produce up to 50 million cubic feet of gas per day.

The Qattameya discovery was announced in March 2017. It is located approximately 45 km west ‎of the Ha’py platform.

It is tied back to the Ha’py and Tuart field ‎development via a new 50km pipeline and is also connected to their existing subsea ‎utilities via a 50 kilometre umbilical.

Thursday, October 22, 2020

Will Natural Gas Isolate Turkey And Integrate Israel In The Eastern Mediterranean? - FORBES

Oct 22, 2020,08:44am EDT
Daniel Markind

For generations, the area around the eastern Mediterranean Sea has been filled with turmoil. From the Arab-Israeli conflict to the divided island of Cyprus and the general animus between Greece and Turkey, the region’s problems have seemed intractable.

Over the last decade however, discovery of massive natural gas deposits underneath the eastern Mediterranean Sea are reorienting the entire region. The rush to obtain energy independence and security by discovering and laying claim to gas and oil reserves is immensely important to the countries in the region, forcing them to reconsider historical relationships and presenting new possibilities which previously seemed unthinkable. At the same time however, countries like Turkey which refuse to think anew may find themselves left behind. Events are moving at tremendous speed, with much of the region has changed in just the last three months.

Friday, October 9, 2020

Chevron’s Purchase Could Unlock Israel’s Natural Gas Bonanza - THE NEW YORK TIMES

Oct. 9, 2020
Stanley Reed

Chevron, the American oil giant, wrapped up the acquisition on Monday of a relatively small Houston-based company called Noble Energy, paying about $4 billion.

Until recently, the deal would have been unlikely, if not unthinkable — because what distinguishes Noble is the large natural gas business it has built in the eastern Mediterranean Sea, especially in Israel, an area that major oil companies had until now avoided.

Chevron’s move is the latest milestone in a remarkable shift in perceptions about a relatively new region for the petroleum industry in the eastern Mediterranean. Once a dead sea for the oil industry, this area, reaching from the Nile Delta in Egypt up to Israel and Lebanon and around Cyprus, has come alive with exploration vessels, drilling rigs and production platforms in recent years thanks to a series of large natural gas discoveries.

Thursday, October 1, 2020

Steinitz: Gas development after Israel-Lebanon talks critical for Beirut - THE JERUSALEM POST

OCTOBER 1, 2020 20:52
Lahav Harkov

The coronavirus pandemic has not stopped Energy Minister Yuval Steinitz from having a major international footprint.

In one week, Steinitz and his Egyptian counterpart established a new international organization dedicated to regional natural-gas developments, the minister spoke with two of his counterparts in the United Arab Emirates for the first time and negotiated the terms for starting maritime border talks with Lebanon, which were officially finalized on Thursday.

“In the coming period we will have negotiations directly mediated by the US, so that once and for all we can sum up the historic dispute over the maritime border between Israel and Lebanon,” Steinitz told The Jerusalem Post. It will be the first direct negotiations between the countries in 30 years.

Tuesday, September 29, 2020

Abu Sennan Production Reaches 12,347 bbloe/d during H1 - EGYPT OIL & GAS

Tuesday, 29th September 2020

United Oil and Gas (UOG) Company announced that Abu Sennan Concession gross production increased to 12,347 barrels of equivalents per day (bbloe/d) representing net production of 2,716 bbloe/d during H1 2020, according to a statement by the company.

The company added that net the production has reached to 1,709 bbloe/d in the first of March and jumped to a high of 3,142 bbloe/d in early June during the testing of El Salmiyah-5 (ES-5 ) well. Liekwise, the performance of Abu Sennan Concession have achieved exceptional results since the beginning of 2020.

UOG noted that after completion of ES-5 well’s testing program, the well was producing 2,900 barrels of oil per day (bbl/d) and 9 million standard cubic feet (mmscf/d) on a controlled rate at the end of June. Regarding ASH 2 well, its net production reached 660 bbl/d.

Tuesday, September 22, 2020

East Mediterranean states establish forum - KATHIMERINI

22 September 2020 - 12:30

The founding members of the East Mediterranean Gas Forum signed a charter during an online ceremony on Tuesday, marking the group’s organization status in seeking to promote regional cooperation.

Ministers from Egypt, Israel, Greece, Cyprus, Jordan, the Palestinian Authority and Italy were scheduled to meet online to put pen to paper in a virtual ceremony, thereby establishing regional intergovernmental forum by statue.

According to a joint declaration, the forum “will contribute to advancing regional stability and prosperity” through cooperation in the energy field.

The Cypriot minister also said the charter was open for all countries that have an interest in the region and also share the same set of values and principles.

Sunday, September 20, 2020

Hydrocarbon exploration to start off Crete - KATHIMERINI

Sunday September 20, 2020, 22:33
Chryssa Liaggou

In the first couple of months of 2021, the consortium comprising Total, ExxonMobil and Hellenic Petroleum will begin offshore geophysical surveys for hydrocarbons in the blocks to the south and southwest of Crete, according to the formal update it submitted during a video conference with the Regional Authority of Crete last Wednesday.

The winter season is considered preferable for exploration as the reproduction of maritime mammals will be less affected then.

The two blocks, titled “West of Crete” and “Southwest of Crete,” were conceded to the consortium through an international tender announced in 2017 after the companies themselves expressed an interest. The concession contracts were ratified by Parliament last October.

The offshore areas to be surveyed cover a total of 40,000 square kilometers. According to the contracts, the surveying phase will last for eight years and be split into three stages, the last of which will include exploratory drilling.

Wednesday, September 16, 2020

Eni, new gas discovery in the “Great Nooros Area”, Mediterranean Sea, Egypt - ENI

16 SEPTEMBER 2020 - 10:00 AM CEST

San Donato Milanese (Milan), 16 September 2020 – Eni (as the Operator of the Block) and bp (as contractor member) announce a new gas discovery in the so-called "Great Nooros Area", located in the Abu Madi West Development Lease, in the conventional waters of the Nile Delta, offshore Egypt.

This new discovery, achieved through the Nidoco NW-1 exploratory well, is located in 16 meters of water depth, 5 km from the coast and 4 km north from the Nooros field, discovered in July 2015.

The Nidoco NW-1 exploratory well discovered gas-bearing sands for a total thickness of 100 meters, of which 50 meters within the Pliocene sands of the Kafr-El-Sheik formations and 50 meters within the Messinian age sandstone of the Abu Madi formations, both levels with good petrophysical properties. In the Abu Madi formations a new level, which was not yet encountered in the Nooros field, has been crossed proving the high potential of the Great Nooros Area and the further extension of the gas potential to the North of the field.

Sunday, September 13, 2020

Egypt, Cyprus focus on natural gas pipeline amid tensions in eastern Mediterranean - AL MONITOR

Sep 13, 2020
Mohamed Saied

At a time when the oil and gas industry is facing economic uncertainty as part of the consequences of the coronavirus pandemic and the decline in global prices as a result of an oversupply, the eastern Mediterranean region is marred by a frantic struggle over natural gas resources.

Eastern Mediterranean countries have rushed to demarcate their maritime borders and exclusive economic zones in a bid to facilitate the gas exploration process.

The United States Geological Survey estimated the natural gas reserve in the Mediterranean in 2017 at 340-360 trillion cubic feet with a financial value ranging between $700 billion and $3 trillion.

In January 2019, Egypt, Cyprus, Greece, Israel, Italy, Jordan and the Palestinian Authority established the Eastern Mediterranean Gas Forum in an attempt to create a regional gas market, reduce infrastructure costs and offer competitive prices.

While eastern Mediterranean countries have ambitious projects to gain a foothold in the European market with natural gas exports, the European Union (EU) is seeking alternatives to its dependency on Russian gas, as Russia is the third-largest oil producer in the world.

Thursday, September 10, 2020

Nobel prize winner appointed chair of Egypt-Cyprus electricity project - CYPRUS MAIL

September 10, 2020
George Psyllides

Christopher Pissarides, Nobel prize laureate and professor of economics at the London School of Economics, has been appointed chairman of the economic council of EuroAfrica Interconnector, the Egypt-Cyprus electricity interconnector.

In February, Pissarides was also picked by Greek Prime Minister Kyriakos Mitsotakis to chair the committee tasked with the long-term growth strategy for Greece.

“It is a great honour for us that we welcome a distinguished economist and highly respected academic such as Dr Pissarides, contributing his knowledge and extensive wisdom,” EuroAfrica Interconnector strategy council chairman and former foreign minister Ioannis Kasoulides said.

“We are building bridges between continents, as Egypt’s electricity grid will be connected to Europe, through Cyprus, and Egypt becomes a major energy hub for the Arab World and Africa,” Kasoulides added.

Sunday, September 6, 2020

State finds Delek Drilling violated Tamar gas agreement - GLOBES


6 Sep, 2020 17:46
Amiram Barkat

Delek Drilling and Noble Energy were found to have a conflict of interest because they can veto Tamar sales deals in favor of selling Leviathan gas.

The Tamar partners will be required to find a new marketing and sales mechanism for the natural gas from the offshore field according to a precedent-setting opinion prepared by an inter-ministerial committee headed by deputy attorney general Adv. Meir Levin, head of the Israeli Competition Authority Adv. Michal Halperin and representatives from the Energy, Finance and Justice Ministries.

The decision was reached after the minority partners in Tamar (Isramco, Tamar Petroleum and Dor Gas) complained that the majority partners Delek Drilling LP (TASE: DEDR.L) and Noble Energy prevented them signing a deal to sell gas to the Israel Electric Corporation (IEC) (TASE: ELEC.B22) from Tamar because IEC was seeking to buy gas from the Leviathan partners at a higher price.

The future of global gas demand - CYPRUS MAIL

September 6, 20202
Charles Ellinas

The future of global gas demand was the subject of the Global Gas Report 2020 (GGR) published last month by the International Gas Union (IGU), in collaboration with Bloomberg NEF (BNEF) and Italian gas company Snam.

In addition to reviewing 2019 performance, the report assesses the effect of Covid-19 on the gas industry in the first half of 2020 and analyses the drivers for recovery in the next few years. It also includes a special section on the role of hydrogen and the gas industry in the low-carbon transition, particularly on market potential and technological options and costs of hydrogen production, storage and transport.

Its main conclusion is that the disruption caused by Covid-19 is on the way to reduce gas consumption and LNG trade by 4% in 2020. This and abundant supply of gas have kept prices at historic lows.

But on the positive side, GGR points out that “abundant supply and continued cost-competitiveness, aided by a push for cleaner air, can lead to a recovery in demand to pre-Covid-19 levels in the next two years, as the global economy regains momentum.”

Monday, August 31, 2020

Chevron to exploit Aphrodite gas ‘as soon as possible’ - CYPRUS MAIL

August 31, 2020

President Nicos Anastasiades on Monday held a teleconference with energy giant Chevron CEO Michael Wirth whose company has recently acquired a share in the Aphrodite gas reserve.

David Stover, CEO of Noble Energy, which previously owned the share also took part in the call, as well as other officials from the two companies. Energy Minister Natasa Pilidou and government spokesman Kyriacos Kousios were also present.

In July, Chevron announced it had struck an agreement to acquire Noble Energy. The agreement is expected to be concluded by October.

According to a presidency statement, the companies reconfirmed the importance they put on the development of the Aphrodite reserve as part of their strategic planning in the region.

Tuesday, August 25, 2020

Greece, Bulgaria hail deal targeting Russia gas dominance - AP NEWS

25 August 2020

ATHENS, Greece (AP) — Greece and Bulgaria sought to reduce their reliance on Russian gas with the signing Monday of an agreement that will allow Bulgaria to participate in a planned liquefied natural gas terminal in northeastern Greece.

The project, which has strong support from the United States, is aimed at boosting energy diversification in southeastern Europe, a region largely reliant on Russian natural gas.

Greek Prime Minister Kyriakos Mitsotakis and his Bulgarian counterpart, Boiko Borisov, were present for the signing of the agreement under which Bulgaria’s state-controlled Bulgartransgaz will acquire a 20% stake in the Greek company, Gastrade, that is developing the LNG terminal outside the Greek city of Alexandroupolis.

“This large investment will help our ultimate goal of turning our easternmost port into a global energy hub,” Mitsotakis said.

Sunday, August 9, 2020

Greece-Egypt agreement on sea boundaries paves way for defining a broader EEZ in East Med - FINANCIAL MIRROR

9 August 2020 
Costis Stambolis

The signing on Thursday in Cairo of an agreement between the Egyptian and the Greek governments for the delineation of a segment of their sea boundaries, paves the way for a broader understanding which will enable the two countries to reach a comprehensive agreement to define their respective Exclusive Economic Zones (EEZ).

Diplomatic sources in Athens told the Financial Mirror that the agreement reached between Cairo and Athens is only the beginning of a much longer process which will see the two countries submit their case to international arbitration and seek judgment from either the International Maritime Tribunal in Hamburg or the International Court in the Hague.
 
Egypt and Greece signed the agreement designating an exclusive economic zone in the eastern Mediterranean between the two countries, an area containing promising oil and gas reserves, Egyptian Foreign Minister Sameh Shoukry said at a joint press conference with his Greek counterpart Nikos Dendias in Cairo.

Friday, August 7, 2020

Cyprus, Israel move forward with talks over disputed gas field - NEW EUROPE

AUGUST 7, 2020 : 19:22 

Talks between Nicosia and Tel Aviv and Israel are progressing on Israel’s Yishai gas field which is adjacent to Cyprus’ Aphrodite field, Cyprus’ new Energy, Commerce and Industry Minister Natasa Pilides said on August 5 after her first video conference with her Israeli counterpart Yuval Steinitz, Cyprus News Agency reported.

The Cypriot government granted the Noble Energy, Shell, and Delek consortium an exploitation licence for the Aphrodite gas field. The companies intended to pipe the gas to neighbouring Egypt. Noble Energy has since been bought out by Chevron. But Israel claims a share of the production of Aphrodite, as a small portion of the reservoir stretches into the Yishai field, according to CNA.

Asked if the dispute will be resolved soon, Charles Ellinas, a senior fellow at the Global Energy Center at the Atlantic Council, told New Europe on August 7, “This is what Cyprus Energy Minister has said, but we have not yet seen a response from the Israeli side, other than welcoming Cyprus’ proposals and confirming that it will now study them”.

Thursday, August 6, 2020

Egypt and Greece Sign Maritime Border Deal in Snub to Turkey - BLOOMBERG

August 6, 2020, 5:28 PM GMT+3
Abdel Latif Wahba

Egypt and Greece on Thursday signed a maritime border agreement, a move that comes amid criticism of growing Turkish influence in the eastern Mediterranean region.

The agreement, which lays out the boundary between the two nations’ exclusive economic zones, will allow Athens and Cairo to secure maximum benefits from oil and natural gas in the area, Egyptian Foreign Minister Sameh Shoukry said in a televised press conference with his Greek counterpart, Nikolaos Dendias.

The deal comes as Turkey is looking to issue new energy exploration licenses in the eastern Mediterranean, a move sharply criticized by Greece and the European Union. In addition, Turkish support for the internationally recognized, Tripoli-based Libyan Government of National Accord has upped the stakes in the war-ravaged North African nation.

Friday, July 31, 2020

EBRD supports decarbonisation of energy sector in Cyprus - EBRD


31 Jul 2020
Olga Aristeidou
  • EBRD loan of €80 million, alongside EU and EIB financing, for floating storage and regasification unit in Cyprus
  • Natural gas introduced to Cyprus, reducing dependence on oil
  • Substantial reduction expected in local emissions of CO2 and air pollutants
The population of Cyprus will benefit from cleaner air and reduced energy costs thanks to the introduction of natural gas to the country, with a project jointly financed by the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the European Union (EU).

The EBRD is providing a €80 million loan to the Natural Gas Infrastructure Company of Cyprus (ETYFA) for the acquisition of a floating storage and regasification unit (FSRU) and the development of related infrastructure. The FSRU will be permanently anchored about 1.3 km off the coast of Limassol in Vasilikos Bay and will connect directly to the adjacent Vasilikos power station, the largest power plant in Cyprus.

Wednesday, July 29, 2020

Bulgaria resumes natural gas transmission to Greece - SEE NEWS

29 JULY 2020

SOFIA (Bulgaria), July 29 (SeeNews) - Bulgarian state-owned gas transmission system operator Bulgartransgaz said on Wednesday that it has resumed natural gas transmission to Greece after fixing a ruptured pipeline.

All orders for Wednesday will be completed in full, Bulgartransgaz said in a statement.

Natural gas transmission to Greece was halted on Monday due to a rupture in the pipeline some 200 metres upstream the valve at the Kulata/Sidirokastron exit.

No one was injured in the accident.

Tuesday, July 28, 2020

Egypt: Total announces gas discovery in shallow waters - TOTAL

28/07/2020

Paris – Total, bp and Eni (as the Operator) have made a gas discovery with the Bashrush well on the North El Hammad license, located eleven kilometers off the Egyptian coa
st.

The well encountered 102 meters net gas pay in high quality sandstones of the Abu Madi formation. A production test was conducted with flow rates of up to 32 million standard cubic feet of gas per day (MMscf/d), limited by testing facilities. It is estimated that future deliverability per well will be up to 100 MMscf/d, along with up to 800 barrels of condensate per day. Future plans foresee development through tie-in to nearby existing infrastructures.

“We are very pleased to announce this discovery in Egypt. These results support our strategy to allocate a significant share of our exploration budget to the search of hydrocarbons in the vicinity of existing infrastructures,” said Kevin McLachlan, Senior Vice President Exploration at Total. “These resources have low development costs since they can rapidly be tie-in and put into production.”

Total holds a working interest of 25% in the North El Hammad license, alongside operator ENI (37.5%) and BP (37.5%).

Sunday, July 26, 2020

Israel is Diving Into the Troubled Eastern Mediterranean - BLOOMBERG

July 26, 2020, 8:00 AM GMT+3
Seth J. Frantzman

The Israeli cabinet last week approved a pipeline deal to move gas offshore via Cyprus to Greece and Europe. The 1,900-kilometer (1,181 miles) link will connect gas fields in the Eastern Mediterranean basin to European markets. The $6 billion project, many years in the discussion, was boosted in January by an agreement signed in Athens between Israeli Prime Minister Benjamin Netanyahu and his Greek and Cypriot counterparts.

The EastMed project puts Israel on a collision course with Turkey. Ankara has laid claim, reinforced with a maritime deal with Libya, to large parts of the Eastern Mediterranean, where it is exploring for gas—and conducting naval exercises. These moves are exacerbating tensions with Greece.

Friday, July 24, 2020

Europe warns Turkey against natural gas mission near Greece - DW

24.07.2020

European officials on Thursday warned Turkey against pursuing a survey mission looking for gas reserves near Greek islands in the eastern Mediterranean.

Greece and Cyprus have accused Turkey of undermining their sovereignty by continuing to pursue energy resources within their territorial waters.

"The government is underlining to all parties that Greece will not accept a violation of its sovereignty and will do whatever is necessary to defend its sovereign rights," said Greek government spokesman Stelios Petsas.

French President Emmanuel Macron has called for sanctions against Turkey, saying it is "not acceptable for the maritime space of a European Union member state to be violated or threatened."

Last year, the EU adopted a sanctions regime targeting Turkey over its unauthorized gas drilling in Cypriot waters.

Monday, July 20, 2020

Chevron to take over Noble’s Cyprus gas field - FINANCIAL MIRROR


20 July 2020

US energy giant Chevron is taking over Noble Energy for $5 bln in an all-share deal, boosting its shale gas assets at home, while expanding its natural gas and crude resources overseas, including Cyprus.

This includes Noble’s stake in Israeli offshore gas fields, as well as Cyprus’ adjacent Aphrodite, where it is a joint venture partner with Shell and Delek.

A joint announcement by the American companies said: “The acquisition of Noble Energy provides Chevron with low-cost, proved reserves and attractive undeveloped resources that will enhance an already advantaged upstream portfolio.

Noble Energy brings low-capital, cash-generating offshore assets in Israel, strengthening Chevron’s position in the Eastern Mediterranean.”

Chevron Announces Agreement to Acquire Noble Energy - CHEVRON

20 JULY 2020
  • Brings high quality assets to Chevron’s global portfolio
  • Proved reserves to be acquired for under $5 per oil equivalent barrel
  • Delivers $300 million in anticipated annual pre-tax synergies
  • Accretive to ROCE, free cash flow and earnings
SAN RAMON, Calif., July 20, 2020 - Chevron Corporation (NYSE: CVX) announced today that it has entered into a definitive agreement with Noble Energy, Inc. (NASDAQ: NBL) to acquire all of the outstanding shares of Noble Energy in an all-stock transaction valued at $5 billion, or $10.38 per share. Based on Chevron’s closing price on July 17, 2020 and under the terms of the agreement, Noble Energy shareholders will receive 0.1191 shares of Chevron for each Noble Energy share. The total enterprise value, including debt, of the transaction is $13 billion.

The acquisition of Noble Energy provides Chevron with low-cost, proved reserves and attractive undeveloped resources that will enhance an already advantaged upstream portfolio. Noble Energy brings low-capital, cash-generating offshore assets in Israel, strengthening Chevron’s position in the Eastern Mediterranean. Noble Energy also enhances Chevron’s leading U.S. unconventional position with de-risked acreage in the DJ Basin and 92,000 largely contiguous and adjacent acres in the Permian Basin.

Sunday, July 19, 2020

Israel Approves Natural Gas Pipeline Link to Europe - BLOOMBERG

July 19, 2020, 2:20 PM GMT+3Alisa Odenheimer

Israel’s cabinet approved a multinational accord to lay a pipeline that will facilitate the export to Europe of natural gas found in Israeli and Cypriot waters.

The $6 billion plan, formulated by the energy ministers of Israel, Cyprus, Greece and Italy, is for a 1,900-kilometer (1,181 miles) corridor that will link known and yet-to-be-discovered gas fields in the eastern Mediterranean basin with European markets through Cyprus, Greece and Italy. A survey of the route is currently being performed, with the aim of reaching a final investment decision within two years and completing the project by 2025.

The project has created friction with Turkey, which says it deprives Turkish Cypriots living in a breakaway state in northern Cyprus 
of proceeds from the island’s natural resources (Note: The north of Cyprus, always 100% or majority Christian, was 90% Christian before the Turkish invasion of 1974, now 100% Muslim also amid rampant colonization from mainland Turkey).

Friday, July 17, 2020

Ministry OKs environmental study for blocks south of Crete - ENERGY PRESS

17 JULY 2020

Energy minister Costis Hatzidakis has approved a strategic environmental impact study concerning an offshore area south of Crete in preparation for tenders to offer exploration and production licenses for two blocks covering most of the island’s width.

Giannis Basias, the former head official at EDEY, the Greek Hydrocarbon Management Company, went ahead with the strategic environmental impact study last August to clear the way for government authorities to stage tenders for licenses and also spare winning bidders of needing to wait for pending issues to be resolved before they can begin their exploration efforts.

In addition, it is believed EDEY took swift action for the environmental impact study covering the offshore area south of Crete in response to interest expressed by oil majors.

Cyprus parliament ratifies EastMed pipeline agreement - KATHIMERINI


FRIDAY JULY 17, 2020, 16:08

Cyprus’ House of Representatives ratified on Friday the EastMed natural gas pipeline.

The agreement, which was ratified by legislators with 47 votes in favor and two abstentions, provides for the construction of a system of pipelines for the transport of natural gas from the Eastern Mediterranean to supply European markets.


The intergovernmental agreement for the construction of the EastMed natural gas pipeline was signed on January 2 in Athens between Greek Environment and Energy Minister Kostis Hadzidakis, Cypriot Energy Minister Yiorgos Lakkotrypis and Israeli Energy Minister Yuval Steiniz.

Thursday, July 16, 2020

WEPCO to add 2 new drilling wells to production line for USD 12 mn - ENTERPRISE

Thursday, 16 July 2020

The Western Desert Operating Petroleum Co. (WEPCO) will add two new drilling wells to its production line which includes the Badr-1 and EDC 9 natural gas wells at a cost of USD 12 mn, Chairman Ibrahim Masoud announced during a tour of the site on Monday, Youm7 reports. 


The report did not include a time frame for drilling the new wells.

Wednesday, July 15, 2020

Carlyle, Cairn Energy-backed group among bidders for Shell’s Egypt assets-sources - REUTERS

JULY 15, 2020 / 4:25 PM
Hadeel Al Sayegh, Ron Bousso

DUBAI/LONDON, July 15 (Reuters) - Buyout firm Carlyle and a consortium backed by Cairn Energy are among the bidders for Royal Dutch Shell’s onshore Egyptian oil and gas assets, two sources with knowledge of the matter told Reuters.

Bids for the assets are now expected to be sharply lower than initial estimates of up to $1 billion due to a weaker outlook for global oil and gas prices, said the sources, declining to be named as the matter is not public.

Shell launched a process at the end of November to sell its onshore upstream assets in the Western Desert as it focuses on expanding its Egyptian offshore gas exploration.

Tuesday, July 14, 2020

OCI NV, Adnoc could shutter fertilizer plants on high gas prices - ENTERPRISE

Tuesday, 14 July 2020

OCI NV, Adnoc could shutter Egypt fertilizer plants due to gas prices: High gas prices in Egypt could force OCI NV and the Abu Dhabi National Oil Company (Adnoc) to close all of their fertilizer plants in the country, the companies warned yesterday, according to Youm7. The companies, which last year merged to create the region’s largest fertilizer producer, said that they would first reduce production in response to the country’s high gas prices, which they said were inflicting heavy losses on their operations. The factories will eventually have to close entirely if gas prices remain high, the group said, without clarifying whether any closures would be permanent. Industrial firms currently pay USD 4.5 per mmBtu for gas in Egypt, more than 2.5x the international price paid by foreign competitors.

SDX Sells 50% of North West Gemsa License for $3 MM - EGYPT OIL & GAS / SDX ENERGY

Tuesday, 14th July 2020

SDX Energy has announced that it sold 50% working interest in the North West Gemsa license which is located in the Eastern Desert, to Gulf Energy, a private Egyptian oil and gas company, for an amount of $3 million, according to a press release.

It stated that the purchaser company will use $1.4 million to discharge the company’s remaining liabilities on the license.

The company elaborated that this action is part of SDX’s ongoing focus and commitment to capital discipline and careful management of the Group’s portfolio whilst also providing additional cash to further strengthen its balance sheet.

CEO of SDX, Mark Reid, commented “We are pleased to complete the sale of our interest in the North West Gemsa license. Whilst we have presented our interest in the license as non-core for some time, owing to its reducing production and marginal netbacks, it is a welcome outcome to be exiting the license with a useful cash consideration and also avoiding the upcoming associated budgeted capex of approximately $2.0 million for the year.”

Friday, July 10, 2020

Cyprus enters LNG era with FSRU groundbreaking at Vassilikos - PLATTS

10 Jul 2020 | 12:00 UTC Nicosia
Gary Lakes, Editor: Alisdair Bowles
  • LNG import terminal to be operational by end-2022
  • Terminal to end Cyprus' energy isolation: President
  • Chinese-led project backed by European Commission
Nicosia — Cypriot officials hailed the start of a new energy era for the island on July 9 with a groundbreaking ceremony marking the start of construction for a floating storage and regasification unit (FSRU) terminal at Vassilikos.

A terminal and an FRSU, supplied by a Chinese-led consortium, are to be in place and operating by the end of 2022, enabling Cyprus to end its reliance on oil imports to fuel its main power generation plant at Vassilikos, where trading giant VTTI also operates a fuel storage and transshipment center.

Libya Lifts Force Majeure On All Oil Exports - OILPRICE.COM

Jul 10, 2020, 10:00 AM CDT
Charles Kennedy

After six months of port blockades and no exports, Libya’s National Oil Corporation (NOC) said on Friday that it lifted force majeure on all oil exports from Libya, potentially giving OPEC+ a headache in the coming months as the group continues to withhold supply from the market.

The first vessel to load crude oil from Libya is the Kriti Bastion from Es Sider oil port, NOC said today, but noted that the oil production increase in the country “will take a long time due to the significant damage to reservoirs and infrastructure caused by the illegal blockade imposed on January 17.”

Friday, July 3, 2020

Italy regulator grants TAP AG more time for first gas delivery, company confirms Q4 deadline - PLATTS

03 Jul 2020 | 12:46 UTC London

Silvia Favasuli; Editor: Jonathan Fox
  • TAP AG says extension requested in case of delay due to COVID-19
  • New deadline for first gas delivery now December 2021
  • But confirms commitment to deliver first gas in Q4 2020
London — The developer of the Trans Adriatic Pipeline, TAP AG, confirmed late July 2 its commitment to deliver first Azerbaijani gas into Italy in the fourth quarter of this year, despite having asked and obtained from Italy's regulator the possibility of postponing first delivery of gas until December 2021.

"The TAP project is more than 96% complete and reconfirms the target of transporting first gas to Europe within 2020," Vugar Veysalov, TAP head of external affairs, told S&P Global Platts late July 2.

Thursday, July 2, 2020

Drillship docks in Larnaca port - KATHIMERINI

THURSDAY JULY 2, 2020, 09:13

The Tungsten Explorer drillship, which is expected to be used in the Total-Eni consortium’s drilling activities in Cyprus’ exclusive economic zone (EEZ) has moved to the port of Larnaca, state-run Athens-Macedonia news agency (ANA-MPA) reports.

Earlier reports had said that the drill vessel would move from Lebanon, where it was conducting exploratory drilling off the coast of Beirut, to Trinidad and Tobago for a different offshore project.

Eventually, a decision was made that the vessel remains docked in Cyprus for the next few months, raising hopes that energy exploration will begin off the Mediterranean island after several delays caused by the Covid-19 pandemic and developments in the broader region.

Wednesday, July 1, 2020

Eni: New gas discovery in the Mediterranean Sea offshore Egypt - ENI

01 JULY 2020 11:00 AM CEST

Eni have successfully drilled the first exploration well in the North El Hammad license, in the conventional Egyptian waters of the Nile Delta, on the prospect called Bashrush. The discovery further extends to the west the gas potential of the Abu Madi formation reservoirs discovered and produced from the so-called "Great Nooros Area".

San Donato Milanese (Milan), 1 July 2020 - Eni (as the Operator of the Block), BP and Total (as Contractor members) have successfully drilled the first exploration well in the North El Hammad license, in the conventional Egyptian waters of the Nile Delta, on the prospect called Bashrush.

The new discovery is located in 22 meters of water depth, 11 km from the coast and 12 km North-West from the Nooros field and about 1 km west of the Baltim South West field, both already in production.

Monday, June 29, 2020

US' Noble to adjust work schedule at Cyprus's Aphrodite gas project - PLATTS

29 Jun 2020 | 14:26 UTC London
Stuart Elliott, Editor: Alisdair Bowles
  • Progress depends on gas demand, market conditions
  • Analysts see more delays to Aphrodite development
  • First gas, for supply to Egypt, was set for 2025
London — The development of Cyprus' maiden gas discovery Aphrodite is facing an uncertain future as operator Noble Energy looks to revise the timeline for work at the project.

Discovered in 2011, the development of the 4.1 Tcf field seemed to have finally picked up speed in November last year with the signing of a new gas exploitation agreement between the field partners and the Cypriot government.

A final investment decision by Noble and its partners Shell and Israel's Delek was expected to be taken in 2022, with first gas set to flow in 2025.

Friday, June 26, 2020

Cyprus’ Natural Gas Infrastructure Company secures €80 million financing by EBRD - IN-CYPRUS / CYPRUS NEWS AGENCY

26.JUNE.2020

European Bank for Reconstruction and Development (EBRD) gave the green light for 80 million euros funding to the Natural Gas Infrastructure Company of Cyprus (ETYFA). The Loan Facility will be covering the construction of the Liquefied Natural Gas (LNG) Import Terminal in Cyprus. The financing is of a 20-year duration.

According to an ETYFA’s press release, funding is additional to ETYFA’s already approved financing by the European Investment Bank (EIB). EIB has approved a 150-million-euro funding to ETYFA on June 11th. The total capital expenditure budget of the project is 289 million euros, while ETYFA has already secured a 101 million euros subsidy by the European Commission, through “Connecting Europe Facility” (CEF) and 43 million euros, from the participation of the Electricity Authority of Cyprus (EAC) in the shareholding structure of ETYFA.

“Both the decision made by EIB, and the decision by EBRD highlight once again the trust of the European institutions towards ETYFA and energy authorities in Cyprus”, the press release points out.

The project is considered of major importance for the energy future of Cyprus.

Monday, June 22, 2020

Subsea structures in place at Karish offshore Israel - OFFSHORE MAGAZINE

Allseas' Solitaire & TechnipFMC's Normand Cutter at Karish
22 Jun 2020

LONDON – TechnipFMC and Allseas have completed two major components of Energean’s Karish gas project in the Mediterranean Sea, offshore Israel.

Allseas’ Solitaire completed installation of the 90.3-km (56-mi), 30-in. and 24.in gas sales pipeline in water depths of up to 1,700 m (5,577 ft).

The full program included placement of a tie-in manifold structure in 72 m (236 ft) water depth.

On average, excluding the beach pull, the rate of laying was 4,578 m/d (15,019 ft/d).

TechnipFMC’s construction support vessel Normand Cutter installed the production manifold, subsea isolation valve foundations and structures.

During 4Q, installation should get under way of the three sets of risers - 2 x10-in. and 1 x 16-in. - that will connect the three producing wells to the FPSO and then to the gas sales pipeline, finishing in 1Q 2021.

Currently the Karish development is around 80% complete, Energean said.