24 DEC 2018
The potential discovery of natural gas deposits west and southwest of Crete will prompt the need for infrastructure development on the island, including an LNG facility, Yiannis Basias, chairman of EDEY, the Greek Hydrocarbon Management Company, has told local newspaper Haniotika Nea in arguably his most forthright comments to date on the island’s energy prospects and subsequent actions.
Besides an LNG facility, the discovery of natural gas deposits in the region would also require pipeline development for natural gas transmission to platforms or the shore and subsequent transportation, Basias told the Cretan newspaper.
The official noted he is confident drilling expeditions planned for the region will produce favorable results. “Natural gas will be discovered west and southwest of Crete as the geological characteristics here converge with those of Egypt, Cyprus and Israel,” he pointed out.
5 April 2018
Egypt’s Petroleum Ministry achieved around 800 new oil and gas discoveries starting fiscal year (FY) 2001/02 and until 2015/16. During this period, the ministry achieved 520 crude oil discoveries, according to figures from state statistics agency CAPMAS.
Fiscal years 2011/12 and 2012/13 saw the largest crude oil discoveries, with an average of 57 discoveries each year, followed by FY 2013/14 with an average of 41 discoveries.
In its recently launched report “Egypt in Figures 2018”, CAPMAS showed that FY 2015/16 saw the smallest amount of discoveries.
As for gas discoveries, fiscal years 2007/08 and 2012/13 saw the biggest gas discoveries, realizing 26 and 29 discoveries respectively.
The giant offshore Zohr gas field is one of the most significant gas discoveries in Egypt and the Mediterranean region.
Discovered by Italian energy company ENI in 2015, Zohr gas field has an area of 100 square meters and a depth of 1,450 meters.
Eni in December delivered the first gas from Zohr field, whose estimated 30 trillion cubic feet (tfc) makes it the biggest gas field in the Mediterranean.
