Saipem Wins Egypt Plant Contract - RIGZONE

Monday, April 20, 2020

Matthew V. Veazey

Egyptian Ethylene & Derivatives Co. (Ethydco) has selected a consortium of Saipem and Egypt-based Petrojet to build that country’s first polybutadiene plant, Saipem reported Friday.

According to a written statement Saipem emailed to Rigzone, the estimated US$150 million contract for the 36,000-metric ton per year (MT/Y) synthetic rubber plant calls on Saipem and Petrojet to provide:

Energean Lining Up Zeus - RIGZONE

Thursday, January 30, 2020
Andreas Exarheas

Energean Oil & Gas revealed Wednesday that it expects to spud the Zeus exploration well in March.

Energean Oil & Gas revealed Wednesday that it expects to spud the Zeus exploration well offshore Israel in March.

The asset is targeting 0.6 trillion cubic feet (Tcf) of gas initially in place (GIIP) according to Energean, which added that it is preparing to drill two additional exploration wells during 2020, “which will be contingent on the results from Zeus”.

Prospects being evaluated for drilling include Athena, which is said to hold 0.6 Tcf GIIP, Hera, which is said to hold 0.4 Tcf GIIP, and Poseidon, which is said to hold 1 Tcf GIIP.

Eni Makes New Gas Discovery in Egypt - RIGZONE

Thursday, August 30, 2018Valerie Jones

Italian oil and gas company Eni S.p.A. has made a new gas discovery in the Egyptian Western Desert, the company announced Aug. 30.

The discovery well has been drilled on the Faramid South exploration prospect located in East Obayed concession, 30 km North-West of the Melehia Concession

The well was drilled on the Faramid South exploration prospect in East Obayed Concession, 18.6 miles (30 kilometers) northwest of the Melehia Concession and reached a target depth of 17,000 feet.

The discovery well has been open to production delivering 25 million cubic square feet per day, confirming the East Obayed Concession’s potential, the company said.

SDX Hits Gas Onshore Egypt - RIGZONE

Monday, July 23, 2018
Andreas Exarheas

North Africa focused oil and gas company, SDX Energy Inc., announced Monday that a gas discovery has been made at its onshore SD-3X well, in Egypt’s South Disouq Concession.

The well was drilled to a total depth of 7,842 feet and encountered 32.6 feet of net conventional natural gas pay in the Abu Madi and Kafr el Sheik horizons, SDX said in a company statement. SD-3X will now be completed as a producer in the Abu Madi horizon and then tested after the drilling rig has moved off location.

“The discovery of gas in both the Abu Madi and Kafr el Sheik horizons is a very positive outcome for the SD-3X well,” Paul Welch, president and CEO of SDX, said in a company statement.

“We will now analyze the data from all four wells drilled in the South Disouq campaign, as well as reprocessing and inverting the existing 3D seismic we have on the concession. Upon interpretation of this data, and completion of the new 3D survey later this year, we expect to identify further Abu Madi and Kafr el Sheik prospectivity for drilling in 2019 and 2020,” he added.

Security Issues Continue to Plague Libya's Oil-Supply Growth - RIGZONE / BLOOMBERG

Wednesday, July 18, 2018Salma El Wardany

(Bloomberg) -- Just as Libya resumes oil exports from recently shuttered ports, an attack on its largest field is setting back progress yet again.

An incursion by gunmen into the Sharara field on Saturday and the kidnapping of workers there forced the National Oil Corp. to cut production and put a ban on exports. It’s the latest in a string of security incidents that have hobbled Libyan shipments despite repeated attempts to restore flows in the politically divided nation.

“This incident required us to shut down and evacuate a number of stations,” NOC Chairman Mustafa Sanalla said in a statement. The kidnappers released two of the four abducted workers later the same day but still hold two others.

Eni To Begin Gas Exploration At Egypt Noor Field In Two Months -RIGZONE / REUTERS

Thursday, June 28, 2018

Reporting by Ahmed Ismail Writing by Eric Knecht. Editing by Jane Merriman

CAIRO, June 28 (Reuters) - Italian oil company Eni will begin drilling an exploratory well at its Noor field in Egypt's North Sinai in two months, Egyptian oil ministry spokesman Hamdi Abel Aziz told Reuters on Thursday.

Egypt's cabinet approved the $105 million deal to explore the North Sinai region of the Mediterranean Sea in March.

Eni's discovery of the giant Mediterranean gas field Zohr in 2015, estimated to hold about 30 trillion cubic feet of gas, has raised interest in gas exploration in Egypt.

The company has not said what level of reserves they expect Noor to contain, and the exploratory well will help to begin determine that, Abdelaziz said.

Egypt Sets Deadlines For Oil And Gas Exploration Bids - RIGZONE / REUTERS

Tuesday, May 22, 2018

Reporting by Ehab Farouk, writing by Sami Aboudi; editing by Jason Neely

CAIRO, May 22 (Reuters) - Egypt has set October 1 and October 8 deadlines for two major international tenders for oil and gas exploration spanning 27 onshore and offshore blocks, the oil ministry said on Tuesday.

Bids for 11 blocs offered by the Egyptian General Petroleum Corp (EPGC) must be submitted by October 1, the ministry said in an advertisement published in the state-run al-Ahram newspaper.

Companies interested in 16 concession areas offered under state-buyer EGAS must submit their bids by October 8, it said.

The EPGC tenders include five blocks in the Western Desert, two in the Nile Valley, three in the Gulf of Suez and one in the Eastern Desert.

The EGAS tender, described by the ministry as the largest in the company's history, includes 13 offshore Mediterranean blocks and 3 in the Nile Delta.

Cyprus Says To Pursue Gas Exploration Amid Standoff With Turkey - RIGZONE /REUTERS

Wednesday, February 21, 2018

Reporting by Renee Maltezou and Michele Kambas; Additional reporting by Ezgi Erkoyun, Editing by William Maclean

ATHENS, Feb 21 (Reuters) - Cyprus said on Wednesday it would press ahead with oil and gas exploration, signalling resolve in a standoff with Turkey over access to potential energy riches after Ankara extended military exercises in the eastern Mediterranean to early March.

Cyprus has accused Turkey of obstructing a drill ship exploring for natural gas off the ethnically-split island on Feb. 9, highlighting tensions in the region over competing claims for offshore resources.

The Saipem 12000 vessel is contracted by Italy's state-controlled Eni which along with France's Total operates the Block 3 of Cyprus's economic zone.

The ship was headed to that area when it was blocked by Turkish warships. Turkey issued a new navigational advisory this week extending military training to March 10.

Eni Says To Produce 2.9 Bcf Per Day From Zohr Field By Second Half 2019 - RIGZONE /REUTERS

Monday, February 12, 2018

Reporting By Eric Knecht and Nadine Awadallah; Writing By Maha El Dahan; Editing by Adrian Croft

CAIRO, Feb 12 (Reuters) - Production from Egypt's huge Zohr offshore gas field in the Mediterranean will reach 2.9 billion cubic feet per day by mid-2019, Italy's Eni said on Monday.

Speaking at an industry event in Cairo, CEO Claudio Descalzi said the goal was to reach output of 1.8 bcf to 2 bcf per day by the end of 2018 and then ramp up to 2.9 bcf per day by mid-2019.

Discovered in 2015 by Eni, the field contains an estimated 30 trillion cubic feet of gas.

Descalzi confirmed that by mid-2019, seven trains would be operating.

Egypt has been seeking to speed up production from recently discovered fields, with an eye to halting imports by 2019 and achieving self-sufficiency.

The country's petroleum minister said on Monday Egypt's current gas production stood at 5.5 billion cubic feet per day.

Giant Gas Tanker Sails to Turkey to Prevent Repeat of Shortage - RIGZONE / BLOOMBERG

Wednesday, October 25, 2017Anna Shiryaevskaya

(Bloomberg) -- Turkey is getting a giant helper to avoid last December’s gas shortages.

The world’s biggest specialized vessel to import liquefied natural gas, a cheaper and quicker solution than a land-based facility, is on its way to help with imports of the fuel mainly used for heating and power generation. The MOL FSRU Challenger, as long as the Eiffel Tower, is expected to arrive from South Korea this month and start by year-end.

Last winter, a cold snap gripped the whole region, including Iran, where Turkey gets some of its gas from. That meant the nation couldn’t get hold of enough fuel to meet its booming gas demand and the grid asked private power plants to reduce fuel demand by as much as 90 percent.

A first floating storage and regasification unit, the Neptune, arrived in December to complement two onshore terminals at Aliaga and Marmara Ereglisi.

Libyan Oil Output Is Set to Rebound as Biggest Field Restarts - RIGZONE / BLOOMBERG

Wednesday, October 04, 2017Salma El Wardany & Saleh Sarrar

(Bloomberg) -- Libya’s oil output, hampered by sporadic shutdowns at fields and ports, is on track to resume its recovery as the OPEC nation’s biggest crude deposit started pumping after a three-day forced halt.

The Sharara field re-opened on Wednesday and is restoring production, the state producer National Oil Corp. said on its website. NOC lifted force majeure at the field as of Wednesday and is able to resume delivering Sharara crude to customers, it said in an emailed statement. NOC Chairman Mustafa Sanalla said Monday on Libya TV that the nation’s daily output will reach 1 million barrels within days of the field’s re-opening.

Libya Gets Better at Keeping Oil Flowing as Industry Stabilizes - RIGZONE / BLOOMBERG

Thursday, August 17, 2017

Salma El Wardany

Libya's getting better at resolving stoppages in its oil industry, underpinning a growing perception that the OPEC member is closer to becoming a stable producer again.
(Bloomberg) -- Libya’s getting better at resolving stoppages in its oil industry, underpinning a growing perception that the OPEC member is closer to becoming a stable producer again.

That’s because of the duration of the incidents. While in prior years protests could shutter fields for months and years, now the stoppages are being resolved within days and barely hindering flows. Sharara, Libya’s biggest field, had several short disruptions this year, including two this month, after being closed for more than two years. Mustafa Sanalla, chairman of state-run National Oil Corp., was quick to visit Sharara this week to resolve the latest dispute, offering to revise security measures.

Total To Drill For Gas Off Cyprus Despite Collapse Of Peace Talks - REUTERS

Wednesday, July 12, 2017

Reporting By Michele Kambas; Editing by Greg Mahlich

NICOSIA, July 12 (Reuters) - The 'West Capella' drilling vessel contracted by France's Total and Italy's ENI moved into position to start exploring for gas off Cyprus on Wednesday, the island's energy ministry said.

The drilling work, which is a contractual obligation between Total and Cyprus, comes days after the acrimonious collapse of talks to reunify the divided island nation, split between ethnic Greek and Turkish Cypriots.

Turkey, which invaded Cyprus's north in 1974 in response to a brief Greek inspired coup, says the island's internationally recognised government has no jurisdiction to explore for hydrocarbons.

Libya's Oil Output Rises To 885,000 Bpd Following Wintershall Deal - RIGZONE / REUTERS

Monday, June 19, 2017Ahmad Ghaddar, Editing by Jason Neely

LONDON, June 19 (Reuters) - Libya's oil production has risen by over 50,000 barrels per day (bpd) to 885,000 bpd after the state oil firm settled a dispute with Germany's Wintershall that had slashed production by some 160,000 bpd, a Libyan oil source told Reuters on Monday.

Last week, the National Oil Corp said it expected OPEC member Libya's production to recover to 900,000 bpd in the short term.

The NOC and Wintershall reached an interim agreement last week on an upstream contract dispute that began earlier this year.

Israel's Navitas Petroleum Plans Tel Aviv IPO - RIGZONE / REUTERS

Tuesday, June 13, 2017
Reporting by Ari Rabinovitch; Editing by Tova Cohen

HERZLIYA, Israel, June 13 (Reuters) - Israel's Navitas Petroleum plans to raise $130 million in bonds and then carry out an initial public offering (IPO) on the Tel Aviv Stock Exchange as it expands operations in the Gulf of Mexico and Canada.

The exploration and production company will use the money raised in the bond offering to fund development and secure a 5 percent stake in the deep-water project Buckskin in the Gulf of Mexico, which holds an estimated 490 million barrels of recoverable oil, said Navitas Chairman Gideon Tadmor on Tuesday.

Bulgaria May Seek More Time To Reply To Gazprom Concessions - RIGZONE / REUTERS

Monday, April 24, 2017

Tsvetelia Tsolova; editing by Mark Potter

SOFIA, April 24 (Reuters) - Bulgaria may need more time to respond to concessions proposed by Russian gas giant Gazprom in an EU antitrust case, its energy minister said on Monday, adding that while Sofia saw the concessions as positive it would like to see them expanded.

A provisional agreement announced last month would see Gazprom avoid a fine of up to 10 percent of its global turnover over EU charges it abused its dominant market position and overcharged clients in eight eastern European nations.

The deal is subject to feedback from EU states and market players that should be sent by May 4 and could still be amended or even abandoned.

Turkey Sees No Need for Cyprus to Approve Israel Gas Pipeline - RIGZONE / BLOOMBERG

Thursday, April 13, 2017
David Wainer

(w/ assistance from Paul Tugwell, Georgios Georgiou and Selcan Hacaoglu)

(Bloomberg) -- A Turkey-Israel gas pipeline deal could be built through Cyprus’ economic waters even without Cypriot consent, a Turkish official said, dismissing what some experts see as a key obstacle to an energy deal between the two Mediterranean countries.

Cyprus can’t block a gas pipeline from Israel to Turkey, and gas talks with Israel don’t hinge on attempts to reach a peace deal in Cyprus, the Turkish official said, requesting anonymity because the matter is sensitive. A pipeline bringing gas from Israel’s Leviathan field to Turkey would need to pass through Cyprus’s Exclusive Economic Zone and the Cypriots would be informed about the plans, but international maritime law allows the pipeline to be laid even without Cyprus’s consent, he said.

NOC: Libya's Wafa Oil And Gas Field Reopens, Force Majeure Lifted - RIGZONE / REUTERS

Wednesday, April 12, 2017

Reporting: Ahmed Elumami; Writing: Aidan Lewis, Patrick Markey; Editing: Susan Thomas

TRIPOLI, April 12 (Reuters) - Libya's National Oil Corporation (NOC) has lifted force majeure on production from the Wafa field after an armed group reopened oil and gas pipelines leading to the Mellitah terminal, the company said in a statement on Wednesday.

Production of oil, gas and condensates had been interrupted at Wafa by a shutdown that started on March 26 near the town of Nalut. Wafa is operated by Mellitah Oil Co, a joint venture between NOC and Italy's ENI.

The reopening would allow Mellitah to restore production of about 450 million cubic feet of gas, 9,000 barrels per day (bpd) of oil, and 7,500 bpd of condensate, NOC said.

Genel Shares Hit All-Time Low As Oil Reserves Disappear - RIGZONE / REUTERS

Tuesday, March 28, 2017
Esha Vaish, Justin George Varghese (Bengaluru), Dmitry Zhdannikov (London); editing by Louise Heavens

March 28 (Reuters) - Genel Energy's market value collapsed to an all-time low on Tuesday after it said for a second time that its flagship oilfield contains less crude than expected, dealing another blow to chairman Tony Hayward to rescue the indebted Kurdish producer.

Since listing in 2011 and claiming to be the largest independent UK listed firm by reserves, Genel has been hit by a string of unsuccessful exploration campaigns in Africa and reserves at its largest Iraqi Kurdistan field shrinking to just a tenth.

Investors who bought into Genel at 11 pounds ($13.8) a share in early 2014 were left with 60 pence on Tuesday as reserve cuts, an oil price collapse and Iraq's fight against Islamic State hammered the stock.

Libya's Oil Output Down 252,000 Bpd Due To Armed Protests - RIGZONE / REUTERS

Tuesday, March 28, 2017
Reporting: Julia Payne (Lausanne), Ahmad Ghaddar (London), Olga Yagova (Moscow), Aidan Lewis (Tunis); Writing: Ahmad Ghaddar, Aidan Lewis; Editing: Mark Potter, David Evans

LONDON, March 28 (Reuters) - Oil production from the western Libyan fields of Sharara and Wafa has been blocked by armed protesters, reducing output by 252,000 barrels per day (bpd), a source at the National Oil Corporation (NOC) said on Tuesday.

NOC declared force majeure on loadings of Sharara crude from the Zawiya oil terminal in the west of the country and Wafa condensate loadings from the Mellitah terminal.

Supplies were stopped by the shutdown of pipelines leading from the fields to Zawiya refinery and port, a Libyan oil source said. The identity of the group was not immediately clear and there had been no claim of responsibility, he said.

The shutdown at Sharara, which had been producing about 220,000 bpd, began on Monday, a day after the Wafa shutdown, the NOC source said.

There was no official comment from the NOC.