Shell, Petronas to begin work on Borollos gas field 9B in 4Q2017 after delays - ENTERPRISE / AL SHOROUK

Wednesday, 19 July 2017

Royal Dutch Shell and Malaysia’s Petronas will begin work on phase 9B of the Borollos gas field in 4Q2017, after having suspended work last year over pricing disagreements with the government, Oil Minister Tarek El Molla said, according to Al Shorouk. 

The two sides eventually reached an agreement, but work on the field later stalled again as the state fell behind on payments to Shell and BG. 

The USD 950 mn project will produce between 350 and 400 mcf/d once operational.

UK embassy launches Oil & Gas International Scholarship Programme for Egyptian students - AHRAM ONLINE

Tuesday 18 Jul 2017

The British Embassy in Egypt launched the Oil and Gas International Scholarship Programme on Monday for up to 2,000 Egyptian employees over the coming five years to meet the changing needs of businesses in the oil and gas sector, according to an embassy statement.

The programme, which is the largest scholarship program in its sector in Egypt, aims to "support the work of the Egyptian government as it modernises the oil and gas sector," the embassy said in an emailed statement late on Monday.

The program was designed by the International Academy for Advanced Research and Studies (IARS) and its training partner Pearson, the largest awarding body in UK, in cooperation with Oil and Gas Skills Egypt (OGS). It will provide accessible and affordable high-quality international training programs, the embassy statement said.

Delek Drilling to get $980 million for spinning off Tamar stake - REUTERS

JULY 18, 2017 / 2:13 PM / 4 DAYS AGO

JERUSALEM (Reuters) - Israel's Delek Drilling (DEDRp.TA) said on Tuesday it expected to get $980 million from spinning off a 9.25 percent stake in the Tamar natural gas project.

The new company, Tamar Petroleum (IPO-TAMA.TA), is in the process of listing on the Tel Aviv Stock Exchange.

Tamar Petroleum this month raised $650 million in a Tel Aviv debt offering and another $330 million in a share offering on Monday.

The transaction gives the Tamar field, Israel's primary supply of natural gas, a valuation of close to $12 billion.

French Armed Forces Minister expresses support towards Cyprus - CNA

CNA - CYPRUS/Larnaca 17/07/2017 21:46

Cypriot Minister of Defence Christoforos Fokaides and French Minister for Armed Forces Florence Parly, met on Monday in Larnaca.

During the meeting, Fokaides briefed Parly on the government’s actions to support the drilling by French company Total in Cyprus’ exclusive economic zone, while Parly expressed France’s support to Cyprus and also expressed gratitude for the help in the fight against terrorism.

Fokaides said Cyprus and France were pylons of stability in the south-eastern Mediterranean, and pointed out the need to strengthen relations and cooperation between the two countries.

Natural gas exploration going as planned – government - CYPRUS MAIL

Drilling ultra-deepwater drillship West Capella commenced

July 17, 2017
George Psyllides

The republic’s natural gas exploration was going as planned, the government said on Monday, with results expected in the autumn.

“What I can tell you with certainty is that everything is going as planned,” government spokesman Nicos Christodoulides told state radio.

Energy giant Total is drilling in block 11 of the island’s exclusive economic zone (EEZ), amid threats from Turkey, which has dispatched at least one warship to monitor the situation.

Christodoulides said the proper authorities are monitoring the situation on a daily basis and that when a statement needs to be made it will be made.

“There is nothing causing concern or affecting our energy planning,” he said.

UPDATE 1-Egypt sets sights on doubling natural gas output by 2020 - REUTERS

JULY 17, 2017 / 12:22 PMReporting by Ehab Farouk; Writing by Amina Ismail; editing by Patrick Markey and Adrian Croft

CAIRO, July 17 (Reuters) - Three recently discovered major gas fields are expected to raise Egypt's natural gas output by 50 percent in 2018 and 100 percent in 2020, the petroleum ministry said.

"The fields of Zohr, North Alexandria and Nooros are among the most important projects that will increase natural gas production ... and will contribute to (Egypt’s) natural gas self-sufficiency by the end of 2018," Petroleum Minister Tarek El Molla said in a statement, which set out the production forecasts.

Egypt's natural gas production rose to about 5.1 billion cubic feet per day in 2017 from 4.4 billion cubic feet in 2016 with the start of production from the first phase of BP's North Alexandria project.

Energean to sell more gas to Israel - KATHIMERINI / REUTERS

17.07.2017 : 21:39

Israel’s Oil Refineries (ORL) (now Bazan Group) said on Sunday it is in talks to buy 17 billion cubic meters of natural gas from Greek exploration and production firm Energean.

ORL, together with Israel Chemicals and OPC Rotem, are negotiating non-binding memorandums of understanding to buy gas supplies from Energean, ORL said in a statement to the Tel Aviv Stock Exchange.

The deals would be the second for Energean for selling gas from the Tanin and Karish fields offshore Israel.

ORL did not say how much it was hoping to pay in the deal, which could last up to 15 years.

A Natural Gas War Is Brewing In The Mediterranean - OILPRICE.com

Jul 16, 2017, 12:00 PM CDT
Cyril Widdershoven

Offshore gas developments in the East Mediterranean region are heating up. Alongside increased exploration efforts and a possible gas pipeline deal between Turkey and Israel, geopolitical risks are increasing too. While commercial prospects are starting to look good for all parties, a real military conflict is also brewing and may come to a head if Cyprus, Greece and Turkey are not able to find a solution soon.

Optimism has been high of late about the prospects of offshore Cyprus gas developments, not only due to the increased interest and agreements reached by Nicosia and several international partners, but also based on a possible Cyprus reunification success. However, the latest development has once again proved to be in vain, as the two main stakeholders, [Greek Cypriots] and [Turkish Cypriots], were again not able to find a solution to solve the dispute. Both sides still accuse each other of being unwilling to reach a final solution. This continuing military standoff could threaten the ongoing offshore oil and gas exploration projects of French oil major Total and Italian major ENI. The oil majors have stated that they will start their offshore drilling operations at Block 11 on July 16.

Egypt plans $4bln petrochemical complex in Suez: minister - ZAWYA / AMWAL AL GHAD

16 JULY, 2017
Ahmed Fayez

Egypt is planning to establish a petrochemical complex in Suez, with an investment cost worth more than $4 billion, Petroleum Minister Tarek el-Molla said Thursday.

The Ministry of Petroleum will build the complex in partnership with Ministry of Public Business Sector, el-Molla added in a press conference.

The Egyptian Petrochemicals Holding Company (ECHEM) as well as refineries affiliated to the petroleum sector will also cooperate to implement the project, the Egyptian minister said.

The Japanese manufacturer Toyota will be in charge of the industrial technologies needed for the complex, he added.

Total is off the blocks - IN CYPRUS / CYPRUS WEEKLY

July 16, 2017
By Charles Ellinas

Total is at last off the blocks. After a number of delays and uncertainties the drilling rig is now at location. Cyprus is watching developments with great expectation.

Following the recent disappointments in Switzerland, a successful gas discovery by Total-Eni at the Onesiphoros prospect will certainly lift spirits. Drilling in Cyprus’ EEZ is entering a definitive period, with as many as four and possible seven wells to be drilled over the next 12 or so months.

But the inevitable euphoria that will come with discoveries should be tempered by the challenging global gas markets and prices. Finding gas is only the beginning of the process. We must also sell it to realise the benefits.

AllSource Analysis: Shell’s Idku LNG Ramps Up Exports - ENERGY EGYPT

July 15, 2017

The liquefaction terminals at Idku represent the only currently operating facilities in Egypt for the export of LNG. Since fall 2016, Egypt’s Petroleum Ministry and Shell, the operator of the facility, have agreed to increase the number of LNG cargo ships (hereafter “cargoes”) leaving Idku, which has been at extremely low levels for the past three years. Setting a target of 22 shipments for 2017, it is hoped that the facility can export enough to balance expenses and revenues. Imagery analysis confirms 4 cargoes leaving the port so far in 2017, illustrating tentative progress towards the goal, as well as beginning to pay down outstanding debts to Shell. The target of 22 shipments in 2017 will likely be revised upwards in 2018 and 2019 as the terminal approaches maximum output by 2020 to coincide with the massive Zohr field coming online and changing the Egyptian gas landscape entirely.

Turkey’s Barbaros sets course for Cyprus’ Block 6 - IN CYPRUS / CYPRUS WEEKLY

July 15, 2017

Turkey’s exploratory vessel Barbaros has reportedly set a course for Block 6 within Cyprus’ Exclusive Economic Zone (EEZ) while Nicosia continues to call for calm against an act many see as a provocation by Ankara to raise tensions.

Earlier on Friday, Turkish Energy Minister Berat Albayrak said that they had completed tests in Famagusta and that “our next step is Morphou which is very important to us.”

Turkey recently announced that it would conduct seismic researches to the east of Paphos following the start of the drilling process – commissioned by ENI/Total in Block 11 of the island’s EEZ.

Indian companies to bid for Israeli oil and gas licenses - YNETnews.com

15.07.17 , 17:24
Ilan Evyatar/TPS

After Israel issues tenders for licenses to drill in 24 blocs of up to 400 square kilometers in size, India announces that it will take part in the bidding for natural gas and oil licenses in Israel’s maritime economic zones.

Indian energy companies will take part in the bidding for natural gas and oil licenses in Israel’s economic waters, India’s Minister of State for Petroleum and Natural Gas Dharmendra Pradhan told his Israeli counterpart Yuval Steinitz, during a meeting in Istanbul, Turkey on Wednesday.

The two met on the sidelines of the World Petroleum Congress and agreed to set up joint work teams to strengthen energy cooperation between the two countries. The announcement comes a week after a historic visit to Israel by Indian Prime Minister Narendra Modi, in which trade deals worth billions of dollars were signed.

Medserv to service Eni Cyprus for two more years - TIMES OF MALTA

Limassol Port

Friday, July 14, 2017, 09:44

Contract extension announced
Malta-based oil and gas logistics firm Medserv and Italian oil company Eni have activated a contract extension which will ensure the Maltese company continues to provide operational base support services for Eni Cyprus Ltd for another two years.

The deal, inked with Medserv (Cyprus) Ltd, includes the provision of dedicated facilities and services in the port of Limassol whilst still maintaining the base facilities in Larnaca port.

The two companies had first signed a three-year deal in June 2014, with the contract allowing for a two-year extension. Medserv (Cyprus) Ltd was set up in 2011 to provide logistics and support facilities for the oil and gas sector in the eastern Mediterranean basin.

Egypt to open new areas in Red Sea for oil, gas exploration - BUSINESS STANDARD

Cairo July 14, 2017, 04:52 IST
IANS

Egyptian Petroleum Minister Tarek el-Mulla said on Thursday that new areas in the Red Sea will be open for bidding for exploration as part of Egypt's effort to expand oil, gas production.

Mulla did not disclose the exact date for the bidding. He told a news conference that the bidding comes after the recent approval of the Egyptian-Saudi maritime border demarcation deal, in which Egypt agrees to transfer two Red Sea islands in the Red Sea to Saudi Arabia, Xinhua reported.

Earlier on Thursday, Mulla and Egyptian Prime Minister Sherif Ismail held a meeting to discuss a number of issues, including the latest deals and bids that aim to increase the country's crude oil and natural gas production, the official news agency MENA reported.

Shell repays Idku loan ahead of schedule - ENTERPRISE

Thursday, 13 July 2017

Royal Dutch Shell repaid the final installment in the second tranche of a USD 2 bn loan issued to BG to build the Idku liquefaction plant ahead of schedule, a statement from the Petroleum Ministry picked up by Al Mal says. 

The company had said in January that it would complete the payments by December 2017. The Egyptian General Petroleum Corporation had agreed to pay USD 480 mn of the first installment due to the Idku plant halting operations in 2012.

Turkey ‘to take measures’ against Cypriot exploration - IN CYPRUS / CYPRUS WEEKLY

July 13, 2017

Turkey will take measures against Greek Cypriot exploration for oil or gas around Cyprus, Turkey’s foreign minister said on Thursday, adding that Turkish Cypriots had rights on those reserves.

Turkey’s energy and foreign ministries are working together to plan steps against the Greek side’s “unilateral” steps, Foreign Minister Mevlut Cavusoglu said, adding that sending a drilling vessel showed Greek side’s “insincerity” about reunification talks that failed last week.

TEKMOR Monitor View: We accurately predicted the failure of the recent UN talks on the Cyprus-Turkey conflict the day they were announced. The fact is that Turkey has no rights in Cyprus. The Turkish Cypriot minority, that Turkey uses as a pretext, indeed has rights but only via the Republic of Cyprus which Turkey does not recognize and Turkish Cypriots abandoned. There is very little that Turkey can do against Cyprus, a geostrategically important and potentially hydrocarbon-rich EU member. Checkmate. Well done Cyprus.

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.

First Chinese-operated gas regulator station in Egypt to be operational in September - CHINA DAILY / XINHUA

Xinhua | 2017-07-12 14:20

BENI SUEF, Egypt — The first gas regulator station operated by a Chinese company in Egypt will be operational in September, a company representative said Tuesday.

The Beni Suef station, operated by China Petroleum Technology & Development Corporation (CPTDC), a subsidiary of China National Petroleum Corporation (CNPC), will start pumping natural gas in September, Qitang Li, a CPTDC representative in Cairo told Xinhua.

CPTDC signed a $20 million deal with Egyptian Natural Gas Company (GASCO) in 2016 to establish three gas regulator stations in Egypt.

Under the deal, the Beni Suef station, 150 kilometers south to the Egyptian capital Cairo, will start operating in September, while the other two stations at Burullus city and the new administrative capital will start assembling work soon, Li said.

All eyes on Turkey as Total-ENI vessel readied to drill offshore Cyprus - NEW EUROPE

West Capella in Block 11, photo tweeted by Minister Lakkotrypis

July 12, 2017 14:26
Kostis Geropoulos

If Ankara provokes a hot incident in its attempt to block or stem the upcoming explorations in Cyprus’ EEZ, then it will have to confront not only Nicosia but the majority of the international community and the global energy community, a leading regional expert tells New Europe

ATHENS – As the West Capella drilling vessel, contracted by France’s Total in association with Italy’s ENI, is about to start drilling at Block 11 off Cyprus’ Exclusive Economic Zone (EEZ) only a few days after UN-sponsored reunification talks collapsed in Crans-Montana, there are concerns that Turkey may cause tensions in the area.

Turkey energy minister 'to visit Israel for pipeline deal' - i24NEWS

   Turkish energy Minister Berat Albayrak, July 27, 2016 (AFP)

JULY/12/2017 6:08:16 PM
Written by AFP

He added that no exact date for a visit had been fixed but it would take place in the coming months

Turkey's Energy Minister Berat Albayrak is set to visit Israel by the end of this year to conclude an agreement for the building of a natural gas pipeline from the Jewish state to Turkey, the Israeli energy minister said on Wednesday.

A visit by Albayrak, son-in-law of Turkish President Recep Tayyip Erdogan and a key member of his inner circle, would be a significant diplomatic move by Ankara after a rapprochement deal last year between the two countries mended a long-standing rift.

Cyprus gas exploration on course as drill rig set to arrive - IN CYPRUS / CYPRUS WEEKLY

Active O&G Companies in Cyprus' declared EEZ 

July 11, 2017

The drilling rig West Capella is set to arrive at its designated drilling spot for hydrocarbon exploration in the Onisiforos-West 1 region of plot 11 in the Cyprus Exclusive Economic Zone as scheduled at 3am on Wednesday morning.

What remains unknown is how Turkey will react to the arrival of the Total rig in light of recent statements by Turkish President Recep Tayyip Erdogan.

“Some energy companies are acting with, and becoming part of some irresponsible measures taken by, Greek Cypriots in exploration in the eastern Mediterranean,” said Erdogan in the presence of the US Secretary of State Rex Tillerson.

BOTAŞ agrees on financing Turkish Stream with Russia’s Gazprom - DAILY SABAH

Pioneering Spirit passes through Bosporus-May 31,2017(AA Photo)

11 July 2017

The state-owned Petroleum Pipeline Company (BOTAŞ) reached an agreement on financing the Turkish Stream pipeline with the Russian state-owned gas and oil giant Gazprom, the Turkish company's General Manager Burhan Özcan said Monday.

"We have already agreed with them on the issue [of financing]. However, I cannot disclose any figures, in what percentage ratio will we do this," Özcan said, speaking at the 22nd World Petroleum Congress in Istanbul.

The BOTAŞ head said that the process of obtaining permits for the second line of TurkStream continues in a positive way, adding that "there are no pitfalls in it."

First exploratory drills for Greek hydrocarbons to start in 2018-2019 - CAPITAL

Monday, 10 July 2017 - 09:29

The first exploratory drills for hydrocarbons in Greece that will provide a clearer picture on the existence and size of the deposits are expected to start in 2018-2019 from the western Gulf of Patras and the offshore field in Katakolon, according to sources of the Athens-Macedonian News Agency.

The sources said interest now is focusing on the one hand on the invitation to a tender for the two large sea areas claimed by Energean Oil and Gas in the Ionian and the sea off western Crete, and the next tenders prepared by the Hellenic Hydrocarbons Resources Management (HHRM) for mainland and offshore areas, ΑΜΝΑ reported.

Greece expects minimum $456 mln offers in gas grid sale - newspaper - REUTERS

Mon Jul 10, 2017 | 7:28am EDT

Greece expects potential investors will offer at least 400 million euros ($456 million) for a majority stake in its gas grid operator DESFA, Energy Minister George Stathakis said in an interview with Naftemporiki newspaper.

Greece, under pressure by EU lenders to conclude the sale as it has earmarked about 180 million euros of the proceeds in this year's budget, relaunched the tender in June after a 400 million euro deal with Azerbaijan state oil company SOCAR fell through over gas tariffs among other issues.

India's ONGC Videsh to bid in Lebanon gas field auction: India government - REUTERS

JULY 10, 2017 / 11:15 AM

NEW DELHI (Reuters) - Indian energy company ONGC Videsh will bid in an upcoming auction to explore and develop gas fields off the coast of Lebanon, India's oil minister said on Monday.

ONGC Videsh, the overseas investment arm of India's top explorer Oil and Natural Gas Corp, is among several companies pre-qualified to bid for offshore exploration and production licenses from the Middle Eastern nation.

Indian oil minister Dharmendra Pradhan, leading a delegation at the World Petroleum Congress in Istanbul, made the comment in a Tweet after meeting with Lebanese Energy and Water Minister Cesar Abou Khalil.

USD 415 mn LNG pier in Ain Sokhna port begins trial operations - ENTERPRISE

Monday, 10 July 2017

Trial runs have begun at the Arab Petroleum Pipelines Company (SUMED)’s USD 415 mn LNG pier at Ain Sokhna port, Ahram Gate reports. The project — which aims to receive LNG and pump it through the national grid, in addition to receiving, storing and transporting fuel to the domestic or export — is a crucial component of the Oil Ministry’s strategy to turn Egypt into a regional energy hub. Structural work for the FSRU unit anchorage was completed in June, with the facility having begun receiving natural gas shipments, which was connected to the national grid. 

WesternGeco and TGS collect geophysical data for $720m - DAILY NEWS EGYPT

Sunday July 9, 2017
Mohamed Farag
 
Contract will be signed in two weeks for land areas in Western Sahara and Red Sea

WesternGeco Schlumberger and TGS have won contract for the collection of geophysical data in open land areas in the South Valley Egyptian Petroleum Holding Company in the Red Sea.

The two companies will collect the geophysical data in the South Valley Company in the Red Sea with investments worth $720m, according to Moustafa Abdel Ghaffar, manager of exploration in the company. The contracts will be signed within two weeks. The two aforementioned companies have made the best technical and financial offers.

Drilling operations will not be postponed, Anastasiades says - CYPRUS MAIL

July 9, 2017

Drilling operations in Cyprus’ Exclusive Economic Zone will not be postponed and no pressure is exerted to this end, President Nicos Anastasiades said.

Speaking to an event in Limassol on Saturday evening, Anastasiades said that drilling operations will move forward as planned.

Commenting on whether the deadlock of the settlement talks in Switzerland would affect this, the president said that there was no link between the Republic’s drilling plans and Turkey’s responsibility for the collapse of the talks. Anastasiades also said he is to address the people on the matter on Monday.

Israel invests billions in local defense industries as part of project to protect its 'economic waters' - JERUSALEM ONLINE

Jul 9, 2017, 12:15PM
Amit Boukai

As part of Israel's new project to protect its natural gas rigs, the Israeli Ministry of Defense announced it would finalize a 1.5 billion NIS deal with local defense industry companies by the end of the year to purchase advanced combat systems to be installed on ships. Israel's defense minister stressed the importance of the local defense industries being invested in by the government.

The Israeli Defense Ministry announced on Sunday that it would purchase combat systems for an estimated 1.5 billion NIS from Israeli defense industries that will be used on ships to protect Israel’s gas rigs. Israeli Defense Minister Avigdor Lieberman stated that “there is a great deal of significance for the country’s economy and security.”

Drilling plans proceeding despite talks’ failure - CYPRUS MAIL

July 7, 2017

Despite the abrupt collapse of the Cyprus peace talks in Switzerland Thursday night, which threatens a severe deterioration in relations between the governments of the Republic of Cyprus and Turkey, plans by French energy giant Total to start natural gas drilling in Block 11 of the island’s exclusive economic zone proceed as normal.

Total plans to start drilling in the block, located on the southern tip of Cyprus’ EEZ and adjacent to Block 12 (Aphrodite) and Zohr, the block in Egypt’s EEZ where a 30-trillion-cubic-feet reservoir was discovered in 2015, next week, when the arrival of the West Capella ultra-deepwater drillship is expected.

The West Capella is en route to the drilling spot, with an estimated arrival date of July 12.

New 150MW power plant inaugurated in ETHYDCO complex - EGYPT TODAY

CAIRO – 6 July 2017

A new 150MW power plant was inaugurated at the complex of the Egyptian Ethylene and Derivatives Company (ETHYDCO) Thursday, at a cost of $98 million.

The power plant was built by the Engineering Co. for Petroleum and Process Industries (ENPPI) and the Egyptian Maintenance Company (Sun Misr), Minister of Petroleum Tarek El-Molla said during his field visit to ETHYDCO.

Small players take large chunk of Tamar offering - GLOBES

6 Jul, 2017 12:41
Nitzan Cohen

Barak Capital invested almost NIS 350 million, and even Altshuler Shaham took part.

The huge offering by Tamar Petroleum attracted great interest yesterday. Barak Capital invested almost NIS 350 million, an amazing sum considering that the largest institution that took part in the offering, Yelin Lapidot, invested about NIS 400 million. Another large institutional investor was Menorah Mivtachim, which invested about NIS 150 million.

Tamar Petroleum is special purpose vehicle set up by Delek through which to divest itself of its 31.3% stake in the Tamar gas reservoir as required under the antitrust agreement with the Israeli government.

Altshuler Shaham, which generally avoids such offerings or invests small amounts, invested some NIS 90 million yesterday. Altshuler Shaham's chief fund manager Dani Yardeni has been criticized in the financial press recently over money exiting the firm's mutual funds. Yardeni has taken a militant line against the wave of bond offerings in recent years, which he argues does not reflect the real risk and does not compensate for risk taking with adequate returns.

Kavala gas storage unit back on PCI list, FSRU in north ejected - ENERGY PRESS

6 July 2017

A plan to transform a depleted natural gas deposit in south Kavala, northern Greece, into an underground gas storage facility has been re-included on an unfinalized list of EU Projects of Common Interest (PCI), while the development of a new floating storage regasification unit (FSRU) in Alexandroupoli, northeastern Greece, to be developed by Gastrade, has been removed from the list.

Latest revisions to the list, still unfinalized, were made during a session on June 30. EU officials are expected to meet in mid-July to finalize the PCI list before it is endorsed by the European Commission.

Over the past few days, the Greek government has intensified efforts to also have the Alexandroupoli FSRU included on the PCI list, which would facilitate EU funding.

Ambitions clash in the Eastern Med - NGW MAGAZINE

July 6, 2017 11:00am

Unstable relations between the eastern Mediterranean countries threaten to make long-term gas deals impossible – even if there is enough gas to make them worthwhile.

The gas industry in the eastern Mediterranean has seen a lot of change in the last two years. Chief among the shifts have been:

• Egypt, which has experienced a severe shortage of natural gas and has become an LNG importer, is returning to self-sufficiency in two or three years;

House passes Natural Gas Act, Mineral Resources Act - ENTERPRISE / AL SHOROUK

Thursday, 6 July 2017

The House of Representatives has finally approved the long-awaited Natural Gas Act without any amendments, Al Shorouk reports. 

The 53-article legislation would deregulate the natural gas market and leave the state to play the role of regulator. 

The law — which will allow the private sector to trade gas using the state’s infrastructure and pipeline network and establish a new authority to regulate and monitor the market — had been gathering dust since 2015, with a number of companies already having applied to import natural gas and had been waiting on the law. 

This should be welcome news for everybody.

SDX Energy, Operational Update - SDX ENERGY

JULY 5, 2017

SDX Energy Inc. (TSXV, AIM: SDX), the North Africa focused oil and gas company, is pleased to provide an operational update.
Egypt

South Disouq (55% Operated working interest)
Following the successful drilling of the SD-1X exploration well and resulting natural gas discovery at South Disouq, a Resources Update was prepared on behalf of SDX by Gaffney, Cline & Associates (GCA), an independent global oil & gas consultancy. The Company is pleased to announce the initial results shown below using Canadian NI-51-101 Reporting designations:

Azerbaijan's H1 2017 oil exports via Turkey pipeline fall 12% yr/yr - HYDROCARBON PROCESSING / REUTERS

JULY/5/2017
Reporting by Nailia Bagirova; writing by Margarita Antidze; editing by Jason Neely

BAKU (Reuters) — Azeri oil exports through the Baku-Tbilisi-Ceyhan (BTC) pipeline via Georgia and Turkey fell 11.8% year on year in the first half of 2017 to 13.174 MMt from 14.930 MMt in the same period last year, state energy company SOCAR said on Wednesday.

Oil exports through the BTC in 2016 totaled 28.86 MMt, up 1.3%.

Azerbaijan exports oil via the pipeline from the Azeri, Chirag and Guneshli (ACG) oil fields operated by BP.

Hungary & Gazprom agree gas supplies via Turkish Stream pipeline - RUSSIA TODAY

5 Jul, 2017 14:53

Russian energy major Gazprom has signed an agreement with Hungary to deliver gas via the Turkish Stream pipeline, the MTI news agency reported, citing Hungary’s Foreign Minister Peter Szijjarto.

He said the Turkish Stream branch to Hungary would be completed by the end of 2019. Budapest sees Turkish Stream gas supplies as the best option because other routes, across Romania and Croatia, are at an early stage, the foreign minister added.

"This will improve Hungary's energy security a great deal, so it is in our strategic interest for this cooperation to start," said Szijjarto.

Delek to pay NIS 600m tax on sale of Tamar - GLOBES

5 Jul, 2017 14:24
Amiram Barkat

Delek Group will post a $700 million capital gain on the sale of its stake in the offshore gas field.

The state will charge NIS 600 million tax on the $1.1 billion sale of Delek Drilling Limited Partnership's (TASE: DEDR.L) rights in the Tamar natural gas reservoir. The rights are listed in Delek Drilling's books at only $400 million, meaning that the partnership will post a $700 million capital gain on the sale, slated to go ahead tomorrow. The 25% capital gains tax will therefore amount to NIS 600 million at the current exchange rate.

The tax revenue is significant, given the rise in the cumulative deficit over the past 12 months from 2.1% in the early months of the year to 2.4% in May. The deficit was affected by a fairly sharp downturn in revenues from indirect taxes in May, which were 11% less than in May 2016.

Mediterra Energy raises production by 17% from Sinai fields - ENERGY EGYPT / MUBASHER

July 4, 2017

The Egyptian minister of petroleum and mineral resources Tarek El Molla said that oil production in Sinai fields increased from 1,200 to 1,400 barrels per day since July 2016.

These fields include Ras Sudr, Asl, and Matarma, and they are all located on the eastern side of the Gulf of Suez.

Tarek El Molla added in a statement on Tuesday that raising production comes as a result of the agreement with Mediterra Energy Corporation.

Emirati Fleet Energy granted approval to import LNG from Egypt - ENERGY EGYPT / EGYPT OIL & GAS

July 4, 2017

UAE’s Fleet Energy Inc. has been granted approval to import liquefied natural gas (LNG) from Egypt. The Egyptian National Gas Holding Company (EGAS) has granted the Emirati company initial approval in response to a request submitted late April 2017, the company informed Egypt Oil & Gas.

The quantity to be imported and value of the deal are yet to be announced.
Fleet Energy has a strong history with the Egyptian government, starting from 2010, when the company was awarded the right to process 1.5 million barrels per month of crude oil at MIDOR refinery, the products of which were sold back to the Egyptian General Petroleum Corporation (EGPC).

Petrolina – 17th Annual General Meeting - CYPRUS MAIL

JULY 4, 2017

Important references to the new infrastructure projects and to the continuous improvements to its petrol stations’ network, as well as to the renewal of its international co-operations were made at the 17th Annual General Meeting of the Shareholders of Petrolina (Holdings) Public Ltd, held in the 28th of June 2017.

The consolidated results of 2016 were presented at the AGM. During the year, the total sales through petrol stations, commercial clients and other petrol companies reached €379,2 million compared to €404,8 million during 2015. The profit before tax reached €6.4 million, compared to €8.3 million in 2015, while the profit after tax reached €5.6 million, compared to €7.2 million in 2015. Based on these results, the profits per share are valued at 6.43 cent compared to 8.23 cent in 2015.

El Molla discusses investments with Greece-based Vegas CEO - ENTERPRISE

Tuesday, 4 July 2017

Greece’s Vegas Oil and Gas intends to increase its investments in Egypt in the coming period and will be participating in upcoming oil and gas exploration tenders, CEO David Evans told Petroleum Minister Tarek El Molla in a meeting yesterday, according to a ministry statement. 

Vegas operates in the East Lagia concession in Sinai, where it is running ground gravity tests and magnetic surveys.

The new geopolitics and Greek perspective in the Eastern Mediterranean - MODERN DIPLOMACY

JUL 03, 2017
GEORGE X. PROTOPAPAS 

The Eastern Mediterranean has become the epicenter of maritime and geopolitical developments as great powers, regional actors antagonise for influence and access to energy resources. Greece a traditional maritime nation could play a constructive role on the stabilisation of the region.

Since 2012 US has decided to intensify its role in Asia – Pacific, neglecting, in a sense, the frozen issues in the Eastern Mediterranean (East Med). Accordingly, the US reduced the Six Fleet’s naval presence, which has currently a single command ship in Italy and four Aegis destroyers. Naturally, the reason for the Pacific shift has been the emergence of China that invests huge resources at sea. What is important in our East Med context, is that the frozen and unfinished business in the East Med have costed dearly and the bill has arrived sooner than expected. Previously inactive actors (Iran, Russia) and Turkey have now become active. Each one of them are squeezing themselves in to get a piece of the pie; a pie that has been created and (peculiarly) left unattended by its maker: the US. Paradoxically, none of these actors has ever been genuine maritime nation or maritime power. The concepts of maritime nation and power integrate the cultural element (history and tradition), geography, the commercial activities (commercial fleet) and naval power.

Total: Drillship “West Capella” arrives in Cyprus on July 12 ahead of Block 11 drilling - FAMAGUSTA GAZETTE

Monday, 03 July, 2017

Preparations for drilling in Block 11 of the Cyprus Exclusive Economic Zone procced normally and are progressing according to the plan, told CNA General Manager of Total E&P Cyprus Yves Grosjean.

The drilling by French Total in consortium with Italian Eni which acquire last March 50% participating Interest of Block 11 was expected by mid July.

"We are on schedule”, said Grosjean and added that the drillship "West Capella” is on its way and will arrive in Cyprus on 12th of July. After arriving in Cyprus, he added, the drillship will carry out some testing, before starting the drilling at "Onisiforos” well. The tests are expected to last a few days and less than a week.

ADES wins Egyptian offshore drilling contract - STOCK MARKET WIRE

3 July 2017 | 08:03am
StockMarketWire.com

ADES International Holding has been awarded a contract by ENI IEOC, the Egyptian subsidiary of Italian oil major Eni, for a new drilling campaign offshore Egypt.

The contract was awarded by Belayim Petroleum Co. (Petrobel), a joint venture between ENI IEOC and Egyptian General Petroleum Corporation (EGPC), for a three-month drilling campaign to be led by ADES's offshore jack-up drill rig, ADMARINE 88.

Partners in Israel's Tamar raise gas reserves estimate by 13 pct - REUTERS

Sun Jul 2, 2017 | 6:28am EDTReporting by Ari Rabinovitch; Editing by Tova Cohen

The partners in Israel's Tamar natural gas project said on Sunday the offshore field held 13 percent more gas than previously estimated.

An updated resource report indicated proved and probable reserves of 11.2 trillion cubic feet (318 billion cubic meters) of gas and 14.6 million barrels of condensate, up from 10 tcf of gas and 13 million barrels of condensate.

"The results of the well and the production data from the reservoir ... enabled the update of the reservoir model and the production forecasts," project stakeholder Delek Drilling said in a statement.

Tamar, which began production in 2013, is the primary natural gas supply for Israel and also exports to Jordan. So far it has produced more than 1 tcf.

Italy’s energy strategy - IN CYPRUS / CYPRUS WEEKLY

July 2, 2017
Charles Ellinas

After going through an extensive public consultation process, Italy published its Energy Strategy earlier this month. It provides a framework for future energy developments in Italy with four key goals as follows:

• Reduce energy costs and spending
• Achieve environmental goals in line with COP21 and EU targets
• Improve security of supply and system flexibility
• Develop the energy sector.

It covers the period to 2030 and is expected to bring Italy’s Energy Strategy in line with the latest climate and energy plans and objectives approved at the European and international level.

Given Italy’s interest in East Med gas and its importance to the regions energy future,
I cover its new Energy Strategy in detail in this article.

Challenges of an East Med pipeline - CYPRUS MAIL

JULY 2, 2017 

Abboud Zahr

Energy security is a key concern for the European Union (EU), an energy importer reliant on producing and transit countries for supply.

The majority of the EU’s oil and gas imports originate in neighbouring regions. For gas, the EU relies mainly on Russia, which supplies 38 per cent of its imports. Natural gas may have the brightest energy future among the fossil fuels, given its potential to serve as a transition fuel to a sustainable and environmentally-friendly energy future. However, with the bulk of its gas supply imported from Russia, the EU might look for alternatives to diversify its supply sources as well as its political and economic risks.