Egyptian Company in Talks to Import Israeli Natural Gas Again - BICOM

August.11.17 10:35 am

Bloomberg reported Thursday that natural gas could be shipped from Israel to Egypt, via Jordan, in a deal being negotiated between Egyptian energy giant Dolphinius Holdings, Israel’s Delek, and US company Noble Energy.

Alla Arafa, co-founder of Dolpinius Holdings, told Bloomberg, “There is great potential for the Mediterranean to be a gas hub for the region and we want to be partners with Israel in this.”

The report follows significant developments this week in the natural gas industry in Egypt and Israel.

The Egyptian Government took a major step to end the state’s monopoly in the natural gas sector. President Abdel-Fattah al-Sisi signed a new law, called Resolution No. 196 of 2017 to establish a natural gas regulatory authority to open the gas market to competition from the private sector and license new providers. The law would allow the private sector to directly ship, transport, store, market and trade natural gas using the pipeline and network infrastructure, and will go into effect later this year. Egypt is one of two regional markets that could buy large quantities of gas from Israel’s Tamar and Leviathan gas fields.

Results from Block 11 will determine ENI’s next targets - CYPRUS MAIL

AUGUST 10TH, 2017

Italian energy giant ENI expects the results of exploratory drilling in Cyprus’ offshore Block 11, to determine its next drilling target within the island’s exclusive economic zone (EEZ).

Sources told Cyprus News Agency that ENI was preparing for two drillings, which should be completed by the first quarter of 2018, but the targets had not yet been determined. The company wants first to evaluate the results of drilling by Total /ENI Consortium in Block 11.

The company has applied to secure all permits for drilling for three blocks, 8, 6 and 3 which include an environmental study, the offshore protocol and a licence from the department of labour for the safety of the drilling.

Egypt lays gas-hub foundations - PETROLEUM ECONOMIST

10 August 2017
Gerald Butt

President Sisi has signed into law new gas-sector regulations expanding the role of the private sector

A casual reader of Egypt's Official Gazette mightn't find much in the way of excitement in Law 196 of 2017. But for anyone interested in the country's burgeoning natural gas sector it's hugely important.

In effect, Egypt is taking a giant step towards becoming the region's natural gas hub and putting itself beyond the reach of potential competitors like Cyprus and Turkey. The new law allows private-sector firms to use the state import and distribution infrastructure to trade in natural gas.

Leviathan Partners in Talks to Pipe Israeli Gas to Egypt Via Jordan - BLOOMBERG

August 10, 2017, 7:41 AM GMT+3
Yaacov Benmeleh, David Wainer, and Mohammad Tayseer

• Jordanian route would be more costly than going through Sinai
• Alternative path could circumvent Israel-Egypt dispute on fine

Egypt could be on its way to becoming a major market for Israeli gas. Companies developing Israel's biggest natural gas reservoir are said to be in talks to get around a dispute between the two governments by piping the gas through Jordan. Bloomberg's Yaacov Benmeleh reports on 'Bloomberg Markets: Middle East.' (VIDEO HERE)

Companies developing Israel’s largest natural gas reservoir are negotiating an alternative delivery route to key target market Egypt to skirt financial disputes that have held up an export deal, according to people in Egypt and Israel familiar with the matter.

Israel’s Delek Group Ltd. and Houston-based Noble Energy Inc., the major stakeholders in the Leviathan gas field, are in talks to sell about 3 billion cubic meters a year to Egypt’s Dolphinus Holdings Ltd., according to Dolphinus’s co-founder, Alaa Arafa.

ENI set to start hydrocarbon exploration in November - IN CYPRUS / CYPRUS WEEKLY

August 10, 2017

Italian energy giant ENI is expected to start three hydrocarbon exploratory wells in blocks three, six and eight in Cyprus’ Exclusive Economic Zone (EEZ) on November 1.

The well in block 6 is a joint venture with French energy concern TOTAL and is in an area hotly contested by Turkey.

In July, Turkey sent its exploratory vessel Barbaros to block six to conduct seismic tests.

Turkey claims half of block six and continues to deny that it (block 6) is under the sovereignty of the Cyprus Republic, arguing that Cyprus does not have its own EEZ.

Greece’s Energean secures gas sales contracts - IN CYPRUS / CYPRUS WEEKLY / REUTERS

August 9, 2017

Greek oil producer Energean has exceeded its target for gas sales contracts needed before it goes ahead with plans to tap two gas fields off Israel’s coast, market sources said on Wednesday.

Energean bought the Karish and Tanin fields, located in deep waters around 100 kilometres off Israel’s coast, last August for $148 million from U.S.-Israeli partners Delek Group and Noble Energy.

It plans to lease its own floating production, storage and offloading vessel and build a separate pipeline to Israel at a cost of up to $1.5 billion.

Energean had targeted gas sales contracts of 3 billion cubic metres annually before making a final investment decision and has so far secured 4.6 bcm a year, market sources said.

Egypt enacts law to allow private gas imports - GLOBES

9 Aug, 2017 12:33
Sonia Gorodeisky

Private Egyptian concerns can now negotiate directly with Israeli natural gas suppliers.

Another milestone has been reached on the road to exports of natural gas from Israel to Egypt. Egyptian President el-Sisi has signed a law allowing private concerns to import natural gas directly, rather than through the Egyptian Natural Gas Holding Company (EGAS), a government company, while using EGAS's existing infrastructure. The law, which has been discussed in Egypt since 2012, means that private players will be able to negotiate directly, making it possible to expedite natural gas deals with Egypt. Up until now, EGAS has been the sole importer of gas to Egypt, and has been marketing it to private concerns.

Market sources say that the law removes one of the barriers preventing implementation of a contract for exporting gas from Israel to Egypt.

WoodMac podcast (7:24): Egypt’s upstream renaissance - OFFSHORE ENERGY TODAY

August 9, 2017

Over the last few years there has been a resurgence in Egypt’s upstream sector boosted by several offshore gas discoveries, most notably the Zohr.

The Zohr, made by Eni in August 2015, is the largest gas discovery ever in the Mediterranean, and the first phase of production there is set to begin late in 2017, and by the time the full development is online, it will make the country a net energy exporter.

With all the gas from discoveries made by the likes of BP and Eni, Wood Mackenzie expects the country’s gas production to rise 80-90% from the lows seen in 2016.

Foreign oil firms' Egypt investments $8.1 bln in 2016-2017 -minister - REUTERS

AUGUST 9, 2017 / 10:02 AM

CAIRO, Aug 9 (Reuters) - Investment by foreign oil firms in Egypt rose to $8.1 billion in 2016-2017 from $6.6 billion a year earlier, Petroleum Minister Tarek El-Molla told Reuters on Wednesday.

"The foreign partners spent $8.1 billion in exploration and development operations in Egypt during 2016-2017, compared to $6.6 billion in 2015-2016," El-Molla said in a phone call.

The oil ministry said in June that Egypt had reduced arrears owed to foreign oil companies to $2.3 billion. Egypt's fiscal year runs from July to June.

Cairo has pledged to eliminate the arrears by June 2019 and not accumulate more, part of its drive to draw new foreign investment to an energy sector that is attracting interest after several major gas discoveries.

Platts: OPEC July hits 2017 high of 32.8mn bpd on Libya recovery - OIL REVIEW AFRICA

Wednesday, 09 August 2017 06:01

Libya's continued dramatic recovery from civil strife pushed OPEC's July output to yet another 2017 high, with the bloc producing 32.82mn bpd, according to the latest S&P Global Platts OPEC survey

Libya, exempted from OPEC production cuts that began January 1, averaged 990,000 bpd in July, up 180,000 bpd from June. Fellow exempt member Nigeria averaged 1.81mn bpd, a 30,000 bpd increase on the month, according to the survey. Not including Libya and Nigeria, compliance among OPEC's 12 members with quotas under the production cut agreement remains robust at 114 per cent, down slightly from 116 percent in June, based on an average of January through July output. That illustrates the challenge OPEC faces in rebalancing the market through its output deal, which also involves 10 non-OPEC producers, as the two exempt countries' recoveries, tenuous though they may be, threaten to undo a large portion of the group's collective cuts.

EGP float drives fuel subsidy spending up 135.3% y-o-y - ENTERPRISE

Wednesday, 9 August 2017

The EGP float has driven fuel subsidy costs up by 135.3% y-o-y, Oil Minister Tarek El Molla tells Reuters. 

Fuel subsidy costs increased to EGP 120 bn in FY 2016-17 from the EGP 51 bn spent in FY 2015-16. 

The government is projecting that spending on fuel subsidies will record EGP 110 bn in FY 2017-18.

Egypt Moves to End State Monopoly of Natural Gas Market - BLOOMBERG

August 8, 2017, 11:03 AM GMT+3
Salma El Wardany, Mirette Magdy and Tamim Elyan

• New gas market regulator to be set up to govern sector
• Private sector can participate in transport, distribution

Egypt is opening the door to private participation in its natural gas sector, moving to end the state’s monopoly as it pushes ahead with reforms meant to encourage investment and revive the economy.

The new law signed by President Abdel-Fattah El-Sisi sets up a natural gas regulatory authority charged with licensing and devising a plan to open the gas market to competition. It also allows for the eventual import of natural gas by private companies -- a move that could help end supply shortages that have hampered businesses.
The most important market news of the day.

Ofer cos to buy Energean gas for $6b - GLOBES

Idan Ofer

8 Aug, 2017 19:12
Sonia Gorodeisky

Israel Chemicals, Oil Refineries, and OPC Energy signed a 15-year deal to buy gas from Tanin and Karish.

OPC Energy, Oil Refineries Ltd. (TASE:ORL), and Israel Chemicals(TASE: ICL: NYSE: ICL), companies controlled by Idan Ofer, today notified the Tel Aviv Stock Exchange (TASE) that they had signed an agreement in principle to buy natural gas from the Karin and Tanin reservoirs owned by Greek company Energean. The agreement amounts to $6 billion over 15 years.

The three companies negotiated jointly in an attempt to obtain better terms. According to the report, OPC Energy will buy 9 BMC, Oil Refineries 17 BCM, and Israel Chemicals 23 BCM.

Dana Gas said to see creditors turn debtors as showdown deepens - THE NATIONAL / BLOOMBERG

 A Dana Gas gas facility in Egypt. Wam

August 8, 2017 06:58 PM

Gas producer says sukuk litigation may last more than 10 years

The standoff between Dana Gas and its bondholders took a fresh twist after the Middle Eastern energy explorer that’s trying to void US$700 million of its own debt was said to believe investors may even have to pay the company.

The Sharjah-based gas producer says that in one scenario the court battle with holders of the Islamic securities, or sukuk, may see it having to return less than 10 per cent of the amount it borrowed, according to a person familiar with Dana Gas’s own analysis. In a second scenario, it believes creditors may have to pay it as much as $150m, the person said, adding that the case may last more than 10 years.

Two Israeli natural gas fields to start pumping in 2020 - TIMES OF ISRAEL / AFP

Part of a platform being taken from the coast of Israel toward
the Tamar gas field (courtesy Noble Energy)

August 8, 2017, 5:11 pm

Energy minister says development of Karish and Tanin deposits will lead to increased competition, lower gas prices

The Energy Ministry officially presented its plan Tuesday for developing the Karish and Tanin natural gas fields, which sit alongside the larger Tamar and Leviathan deposits in Israel’s economic waters in the Mediterranean.

The development plan “shows [Israel’s ability] to keep to the schedule” of development,” Energy Minister Yuval Steinitz said in a statement. Once the new fields are operational, “competition will increase and prices… will fall.”

The plan calls for Karish, or “shark,” to be developed first, followed by Tanin, or “crocodile,” if there is sufficient demand in the Israeli market.

The Natural Gas Act is now law of the land - ENTERPRISE

Tuesday, 8 August 2017

Even if there’s pullback on electricity, the state took a clear step forward yesterday to deregulate the natural gas industry. President Abdel Fattah El Sisi signed into law the long-awaited Natural Gas Act, the drafting of which wrapped back in October 2015. The Act, published in Monday’s issue of the Official Gazette, will see the state become the primary regulator of the industry, but allow the private sector to directly trade gas using the pipeline and network infrastructure. The law will establish a state regulator that would have a say in pricing gas, set up the rules of the system, encourage investment in the sector, and ensure equal access by private sector players to the national gas infrastructure. The regulator will also be tasked with drawing up the timeline for privatization. Five primary industry roles are now open to the private sector: Pipeline operator, distributor, storage provider, gas shipper, and importer. Pipeline operators and distributors can set their own pipeline utilization fees. You can tap here for a refresher on other key points of the legislation, including definitions of the various roles open to private-sector players.

Libya's largest oil field "back to normal" after disruption - WORLD OIL / BLOOMBERG

AUG/7/2017

By SALMA EL WARDANY AND SALEH SARRAR 

CAIRO and DUBAI (Bloomberg) -- Libya’s biggest oil field Sharara is “back to normal” after a disruption caused by protests, the country’s National Oil Corp. said.

Pumping was interrupted for “hours” due to armed protesters shutting some facilities, the NOC said Monday in a statement. NOC didn’t give an updated figure on production at the field or explain what caused the protests or who they represent. The field in western Libya was producing 275,000 bpd as of July 12, a person with knowledge of the situation said at the time.

Sharara, operated by a joint venture between Libya’s state producer and Repsol SA, Total SA, OMV AG and Statoil ASA, has witnessed several brief shut downs caused by different groups. The field was closed for two days in June due to a protest by workers at the field.

Bahr Essalam, Zohr development phases nearing completion - OFFSHORE MAGAZINE

AUG/07/2017

TRIPOLI, Libya – Eni CEO Claudio Descalzi has held talks with two North African leaders concerning major ongoing offshore development projects.

In Tripoli, Descalzi met Fayez al-Sarraj, Head of the Presidential Council of the Libyan government of National Accord, and the president of the state oil company Mustafa Sanalla.

High on the agenda was the second phase of development of the Bahr Essalam field, one of Libya’s largest offshore reservoirs and a source of gas supply for the Greenstream trunkline in the Mediterranean Sea.

Nine of the 10 offshore wells have been drilled, and Eni anticipates first gas in 2018.

ENPPI Petroleum to launch IPO on EGX in 2018 - MUBASHER

07 August 2017 04:18 PM
Ahmed Alam / Translation: Mai Ezz El-Din

Cairo – Mubasher: ENPPI Petroleum will launch an initial public offering (IPO) on the Egyptian Exchange (EGX) during the first quarter of 2018, Egypt’s minister of investment and international cooperation Sahar Nasr said.

Nasr agreed with the new EGX’s board on establishing new programmes to innovate new mechanisms for the EGX to speed up the implementation process of the governmental IPOs, she added.

Vice chairman of the EGX Mohsen Adel expects seeing between three and five medium-sized and large initial public offerings (IPOs) before the end of the current year.

Greece launches new offshore oil and gas tenders - IN CYPRUS / CYPRUS WEEKLY / REUTERS

August 7, 2017

Greece launched two tenders on Monday for offshore oil and gas exploration and exploitation in the west and south of the country, the energy ministry said.

The move follows expressions of interest by a consortium of Total, Exxon Mobil and Hellenic Petroleum for exploration in two sites off the island of Crete, and by Greece’s Energean for a block in the Ionian Sea in western Greece.

Investors will have 90 days to submit offers to the Hellenic Hydrocarbons Resources Management (HHRM) from when the announcement is published in the European Union’s official gazette.

Greece has launched a program to discover more oil and gas, encouraged by recent large gas finds off Israel and Cyprus and spurred on by its protracted financial crisis.

Libya's Sharara oil field gradually shutting down: engineer - REUTERS

A general view of the El Sharara oilfield, Libya December 3, 2014.
Photo by Ismail Zitouny

AUGUST 7, 2017 / 4:37 AM

TRIPOLI (Reuters) - Libya's Sharara oilfield, which has been producing 270,000 barrels a day (bpd), is gradually shutting down after the closure of a control room in the northern city of Zawiya, an engineer at the field said late on Sunday.

The engineer did not give details of why the control room had closed but posts by oil workers on Facebook said it had been stormed by an armed group.

Libya has been exempted from an OPEC-led push to cut global production and bolster oil prices and the recovery of the North African country's output over the past year has complicated the bloc's efforts to curb global supply.

Power Plants Consume 26,000 tons of Mazut Daily - DAILY NEWS EGYPT / AMWAL AL GHAD

Shoubra El-Kheima power station

Sunday, 6th August 2017

Egypt’s electricity-generating power plants consume 26,000 tons of mazut per day in addition to natural gas, reports Amwal Al Ghad.

During the summer peak, mazut consumption can exceed 30,000 tons per day, Abed Ezz El Regal, Head of the Egyptian General Petroleum Corporation (EGPC), told Amwal Al Ghad, adding that Egyptian refineries possess the capacity to cover most of the local market’s demands for mazut.

Egypt will not need to import additional mazut due to the volume of natural gas that it has secured.

The oil and gas sector is committed to securing the plants’ needs for natural gas and mazut, especially during peak periods of consumption caused by high temperatures, noted Ezz El Regal.

EBRD to provide $500M for TANAP -DAILY SABAH - ANADOLU AGENCY

ANKARA, August 4, 2017

On Oct. 18, the board of the European Bank for Reconstruction and Development (EBRD) should approve a $500 million financing package for Azerbaijan's Southern Gas Corridor Inc. to be used for the Trans-Anatolian Natural Gas Pipeline (TANAP) project, the largest part of the Southern Gas Corridor.

An EBRD statement pointed out that the World Bank approved $800 million in financing and the Asian Development Bank approved $600 million in financing for TANAP, which will cost $8.6 billion.

Also, the statement indicates the European Investment Bank is considering providing financing for TANAP, emphasizing that the project is important for Turkey and Europe in terms of energy security and resource diversity.

First petrol station to sell LPG opens in Nicosia - CYPRUS MAIL

August 4, 2017

Annette Chrysostomou

The first petrol station in Cyprus selling liquefied petroleum gas (LPG) for gas-fuelled vehicles has opened in Nicosia after securing all the necessary licences.

The petrol station which is owned by oil and gas company Petrolina and carries the Agip brand is located on Larnaca Avenue in Nicosia. According to a statement by Petrolina, it meets all the safety and environmental standards of the EU, complies with Cyprus legislation and the regulations set out by the energy ministry.

“Business moves of this kind offer the consumer alternatives to energy use and contribute to a better quality of life,” Energy Minister Giorgos Lakkotrypis commented.


Dinos Lefkaritis, director of Petrolina said the move is part of the company’s strategy to offer innovative products, adding “the company’s objective is to operate other petrol stations with LPG in the near future.”

Rosneft delivers 129,000 tonnes of LNG to Egypt - TASS / REUTERS

August 04, 17:09 UTC+3

MOSCOW, August 4. /TASS/. Rosneft delivered 129,000 tonnes of liquefied natural gas (LNG) to Egypt under the contract with Egyptian Natural Gas Holding (EGAS) in the first half of 2017, the company said.

IT was reported earlier that Rosneft would supply 10 consignments of liquefied natural gas to Egypt with a total volume of 600,000 tonnes; deliveries would be carried out from May to October 2017. In 2016, Rosneft Trading SA delivered three tankers to the processing facilities of EGAS.

Egypt’s General Petroleum production rates 'unprecedented': Ministry - AHRAM ONLINE

Friday 4 Aug 2017

Egypt’s state-owned General Petroleum Company has reached unprecedented production rates of 57,000 barrels of oil equivalent per day, the petroleum ministry said in a Friday statement.

The increased production rates follow the discoveries of two new fields, NES-5 and NES-7, the statement added.

New seismic surveys planned for launch in December - ENERGY PRESS

04/08/2017

EDEY, the Greek Hydrocarbon Management Company (Hellenic Hydrocarbons Resources Management), plans to stage new seismic surveys later this year at an area covering 46,000 square meters south of Crete. This offshore area had been scanned in 2013 by PGS from north to south but will now be looked at from east to west.

The hydrocarbon company is also moving to conduct more detailed surveys in areas west of Crete and south of the Peloponnese covering 11,000 square meters, while PGS will apply new techniques to soon reprocess older data gathered from the Ionian Sea in an area covering 26,000 square meters.

The news concerning these three initiatives, highlighting EDEY’s intention to intensify local hydrocarbon sector efforts, is expected to be announced today in specialized international industry media to promote the prospect of new sesismic data sale purchases by international oil companies.

Hydrocarbon licensing changes avoided ahead of Crete tender - ENERGY PRESS

04/08/2017

The government has softened its stance on an intention to implement hydrocarbon sector revisions that could offer investors production sharing agreements rather than leasing agreements for new tenders.

Governmemt officials fear that such changes to the licensing system would undermine the prospects of future tenders, including an imminent effort aiming to offer investors blocks off Crete. This upcoing effort has drawn the attention of international oil industry giants such as ExxonMobil and Total.

KYSOIP, the Government Council for Economic Policy, which yesterday endorsed a hydrocarbon sector modernization plan forwarded by energy minister Giorgos Stathakis, decided to keep the current licensing model unchanged – at least for the time being.

Noble Energy results beat, but output forecast drags on stock - REUTERS

AUGUST 3, 2017 / 5:09 PM

Reporting by Ernest Scheyder; Editing by Lisa Von Ahn

(Reuters) - U.S. oil producer Noble Energy Inc on Thursday posted a surprise quarterly profit, excluding special items, on a rise in crude prices and cost cuts, but a tepid production forecast sent its shares down nearly 5 percent.

While Noble did not cut its capital budget as some peers have done in recent weeks, Wall Street has generally rewarded companies that pump more oil, not leave it in the ground.

Houston-based Noble forecast third-quarter production at 340,000 to 350,000 barrels of oil equivalent per day, about 8 percent below Wall Street's expectations.

Shares of Noble were down 4.7 percent at $26.72 in morning trading.

Russian gas pipelines to go ahead despite U.S. sanctions - REUTERS

AUGUST 3, 2017 / 1:11 PM
Oksana Kobzeva, Alissa de Carbonnel

MOSCOW/BRUSSELS (Reuters) - New U.S. sanctions will make it harder for Russia to build two gas export pipelines to Europe but the projects are unlikely to be stopped.

U.S. President Donald Trump has reluctantly signed into law further sanctions on Russia but some of the measures are discretionary and most White House watchers believe he will not take action against Russia's energy infrastructure.

This would allow Gazprom's two big pipeline projects to go ahead, although at a higher price and with some delays.

The Kremlin, dependent on oil and gas revenues, sees the pipelines to Germany and Turkey - Nord Stream 2 and TurkStream - as crucial to increasing its market share in Europe.

It also fears that Western partners - needed to develop the deepwater, shale and Arctic gas deposits that will fill the pipelines - will be scared off by sanctions.

Senate approves $4M. budget for US-Israel energy center - JERUSALEM POST

AUGUST 2, 2017 21:04
SHARON UDASIN

The center is meant to contribute to natural gas deployment in Israel, expand water and energy production in both countries and improve cybersecurity systems for critical infrastructure.
Fulfilling a vision that has been three years in the making, the Senate Appropriations Committee committed $4 million on Tuesday toward establishing a Joint United States-Israel Energy Center.

The funds, which will match an equal amount provided by Israel, will serve to build a virtual hub for energy collaboration supervised by the US Department of Energy and Israel’s National Infrastructure, Energy and Water Ministry.

DESFA bids of 400 mln or over, minister says - KATHIMERINI

02.08.2017 : 22:42
CHRYSSA LIAGGOU

Energy Minister Giorgos Stathakis has given candidate buyers of gas grid operator DESFA a 400-million-euro bar to clear ahead of next Monday’s submission of non-binding bids.

The minister on Wednesday visited DESFA’s headquarters to learn about the company’s financial state and told employees there were three conditions that would secure the smooth development of the current process for the concession of a 66 percent stake to a strategic investor.

Dorad to buy Karish, Tanin gas for $500m - GLOBES

2 Aug, 2017 17:23
Amiram Barkat

Tanin, Karish owner Energean now has more than half the contracts needed to development the Israeli gas fields.

The board of directors of the Dorad power station, headed by chairman Erez Halfon, today approved the signing of a document of principles for the purchase of natural gas from the Karish and Tanin reservoirs, owned by Energean. 5.5 BCM of natural gas will be supplied over 14 years under the deal.

Market sources estimated the total value of the deal at over $500 million. The terms of the deal reflect an average price of $4 per heating unit, the lowest price in such deals in recent years. Supply in the deal is slated to begin in the fourth quarter of 2020, when gas from Karish and Tanin is expected to begin flowing.

Croatia's Crosco gets deal to drill 12 gas wells in Egypt, Iraq - SEE NEWS

ZAGREB (Croatia), August 2 2017 (SeeNews)

Ukrainia's UkrGasVydobuvannya (UGV) has said it signed a 47 million euro ($55.6 million) contract with Croatia's Crosco for the drilling of 12 natural gas wells in Egypt and Iraq.

UGV has signed two contracts with Crosco, each for the drilling of six wells at EMSCO-605 land rig in Egypt and R-67 land rig in Iraq, the Ukrainian company said in a statement on Tuesday.

The start of drilling works is scheduled for the third quarter of 2017, with Crosco planning to drill four wells annually, UGV noted.

Zagreb-based Crosco is an integrated onshore and offshore drilling and well services contractor. It is part of Croatian oil and gas company INA.

Egypt: FSRU BW Singapore hits LNG STS milestone - LNG WORLD NEWS

August 2, 2017

Gas shipping giant BW said its FSRU BW Singapore that is currently operating in Egypt has reached a ship-to-ship transfer milestone.

BW LNG’s first floating storage and regasification unit (FSRU) has completed its 100th STS transfer on 22 July 2017, the company said in a brief statement through its social media channels.

BW Singapore was earlier this year relocated to the port in Sumed from the port of Ain Sokhna.

The FSRU started serving as Egypt’s second LNG import terminal in October 2015 under a five-year contract with the Egyptian Natural Gas Holding Company (EGAS).

Egypt Rushes Maritime Negotiations, Making Way For Offshore Discoveries - HART ENERGY

Wednesday, August 2, 2017 - 1:36pm
Abdelghani Henni

Egypt is speeding up negotiations with neighboring countries to finalize the demarcation of borders in the Mediterranean, which holds huge natural gas reserves compared to the Red Sea.

The country has initiated talks with Greece to draw the maritime border, according to local sources. Egypt and Cyprus are also expected to sign the official border agreement in the next few weeks. In addition, the country plans to intensify seismic activities in the Red Sea following the agreement with Saudi Arabia.

In early June, Egypt’s Minister of Petroleum and Mineral Resources Tarek El-Molla said the Ganoub El Wadi Petroleum Holding Co. agreed with five international oil companies six months ago to conduct a $750 million seismic survey in the Red Sea to prepare reports on the reserves of oil and gas in the territorial waters after the demarcation of the border with Saudi Arabia.

Jordan exported 560k cubic feet of LNG to Egypt in the past four months - ENTERPRISE

Wednesday, 2 August 2017

Egypt bought 560K cubic feet of LNG from Jordan in the past four months as part of an agreement which would see Egypt import 140K cubic feet of gas per month for 10 months, according to Ahram Gate. 

Jordan exported about 670 mcf of LNG last year to Egypt, says the Oil Ministry.

Israeli Government Failing to Encourage Natural Gas Use in Transport Sector - HAARETZ

Aug 02, 2017 5:52 AMOren Dori 
Despite huge domestic reserves, precious few experimental cars run on natural gas in Israel, new study finds
Seven years after Israel’s government declared it would use the country’s vast natural gas energy reserves to power cars and trucks, virtually nothing has been done, according to a study released this week by the Samuel Neaman Institute for National Policy.

As of today, just two or three cars on an experimental basis are fueled by natural gas even though Tamar, the largest field at present, boasts an estimated 318 billion cubic meters of gas and the much bigger Leviathan reservoir, with 613 BCM, is due to begin production in 2019.

Meanwhile, globally, over the last seven years, the number of natgas-powered cars on the roads doubled to 23 million vehicles, most of them in Asia and a $23 billion market, the researchers point out. By 2024, that number should reach about 30 million.

Egyptian Prime Minister Sheriff Ismail meets Eni CEO Claudio Descalzi - ENI

Cairo (Egypt), 01 August 2017,17:10

The Egyptian Prime Minister Sherif Ismail met today with Eni's CEO Claudio Descalzi.

The meeting, also attended by the Minister of Petroleum and Mineral Resources Eng. Tarek El Molla, focused primarily on the future of Zohr's mega field and the positive impact it will have on the national energy economy. Eni CEO Claudio Descalzi outlined the progress being made with the rapid development of the project: thanks to the significant operational synergies that Eni has been able to exploit with its facilities in the area, the development of Zohr is 80% complete less than two years after the discovery was made, a record in the oil industry.

With a potential of 850 billion cubic meters of gas in place, not only will Zohr be able to satisfy almost all of the total domestic gas demand for the coming decades, .it will also allow Egypt to return to being a net energy exporter.

Israel's role in Turkey's gas hub - PETROLEUM ECONOMIST

London/Tel Aviv, 1 August 2017
Gina Cohen, Aura Sabadus

Turkey needs more gas and wants to diversify the sources. LNG and a pipeline from Israel are the answer

A recurring theme in Turkish political discourse has been an ambition to establish an energy hub to capitalise on the country's strategic location linking resource-rich countries to its east with European markets to its west. Israeli gas and new flexible supplies of liquefied natural gas can help Turkey deliver on the aim.

So far, Turkey's strategy has lacked clarity and the objective has been open to multiple interpretations, each reflecting the country's tortuous relations with its neighbours and the poor level of market liberalisation and regulatory reform that would be needed to create a viable gas hub.

ENI drilling could lead to positive development for Europe - IN CYPRUS / CYPRUS WEEKLY

August 1, 2017

Italy’s energy giant ENI is currently carrying out drilling offshore Cyprus and this could lead to a positive development for the whole of Europe.

This is what Italian Minister of Defence Roberta Pinotti said in Nicosia on Monday evening after talks with her Cypriot counterpart Christoforos Fokaides.

“Italy’s ENI is working right now (here in Cyprus) and I believe that we will have a positive development for the whole of Europe,” Pinotti said.

“We have to work for security and to confront difficulties and obstacles. We have to work for the future welfare of Europe within the framework of a flourishing economy,” she added.

EGAS grants three companies preliminary approval to import gas - ENTERPRISE / AL BORSA

Tuesday, 1 August 2017

EGAS has granted three unnamed companies preliminary approvals on their requests to import natural gas privately and pump it through the national pipeline network, said EGAS Vice Chairman Amira El Mazni, according to Al Borsa.

Five companies had bid to import natural gas privately, including Dolphinus Holdings — rumored to have been in talks to import gas from Israel’s Tamar gas field — and TAQA Arabia.

Licenses to import gas will come once the Ismail cabinet approves the executive regulations of the Natural Gas Act.

The regs are expected to be completed by September.

Saipem EPCI contract variations finalised for Zohr field development - WORLD PIPELINES

Monday, 31 July 2017 09:40
Stephanie Roker

Saipem and Petrobel have finalised offshore contract variations worth US$900 million for engineering, procurement, construction and installation (EPCI) activities in relation to the ‘Optimised Ramp Up’ phase of the ‘supergiant’ Zohr field development project situated in the Mediterranean Sea off the Egyptian coast.

Petrobel is a joint venture between IEOC (an Eni subsidiary in Egypt) and Egyptian General Petroleum Corporation (EGPC) and is in charge of the development of Zohr on behalf of PetroShorouk, a joint venture between Egyptian Natural Gas Holding Company (EGAS) and IEOC.

The current variations to the scope of work include the installation of a 30 in. dia. gas export pipeline and an 8 in. dia. service pipeline, as well as EPCI work for the field development in deep water (up to 1700 m) of four wells and the installation of umbilicals. Works will commence in July 2017 and are due to be completed by the end of 2018.

In order to meet the requirements set by the client, Saipem will deploy several vessels from its highly specialised fleet, including the Castorone (the latest generation ultra-deepwater pipelayer); the subsea field development ship Saipem FDS2; the Saipem 3000 (a subsea construction vessel) and, finally, the Castoro 6 and the trenching barge Castoro 10.

Italy joins France in warning Ankara about Cyprus gas drilling - EURACTIV.com

Jul 31, 2017

Sarantis Michalopoulos

Italian Minister of Defence Roberta Pinotti is paying a “symbolic” visit today (31 July) to Cyprus in light of oil and gas drilling that a consortium of France’s Total and Italy’s Eni is now carrying out in the region.

Cyprus started offshore drilling for gas in its economic zone triggering the strong reaction of Turkey, which warned it would take counter-measures.

Turkey claims that Cyprus’s internationally recognised government has no jurisdiction to explore for hydrocarbons [See background].

As Cyprus prepares to start offshore drilling for gas in its economic zone, Turkey announced it was readying “countermeasures” and Greece replied it was “ready to defend its sovereign rights”, in a clear sign of growing tensions between the two NATO members.

Italian defence minister in Cyprus visit - IN CYPRUS / CYPRUS WEEKLY

July 31, 2017

Italian Defence Minister Roberta Pinotti will visit Cyprus on Monday where she will hold talks with her Cypriot counterpart Christoforos Fokaides.

During the meeting of the two ministers, they will sign an agreement on Exchange and Mutual Protection of Information. Pinotti will also meet with Cyprus President Nicos Anastasiades.

According to a press release by the PIO, Pinotti will be officially welcomed by Fokaides at the National Guard General Staff premises in Nicosia, where the meeting will take place.

Egypt has so far received half of contracted Iraqi crude shipments –source - ENTERPRISE / AL MAL

Sunday, 30 July 2017

Egypt has so far received half of its contracted 12 mn bbl of Iraqi crude oil scheduled for delivery in 2017, a source tells Al Mal. 

The latest shipment is the third since May. 

Refiner MIDOR received 50% of the total oil delivered, while AMOC got 14%. 

A portion of the refined product is re-exported back to Iraq.