Petroleum Ministry plans to double national production of petrochemicals in 5 year - SADA ELBALAD

Saturday 04/November/2017 - 07:11 PM

Ahmed Moamar

The Ministry of Petroleum released a statement about developing of the petrochemical industries within the next five years until 2021.

The statement assured that 8 projects were carried out worth $ 7.3 billion during the previous years.

Capacity of those projects reach 5 million tons a year.

Energean doubles estimates for Karish, Tanin gas reserves - GLOBES

2 Nov, 2017 12:29
Sonia Gorodeisky

The Karish and Tanin reservoirs contain a potential of 136 billion cubic meters of natural gas - double the initial estimates, according to NSAI.

Greek energy company Energean announced this morning that according to independent assessments by the Netherland, Sewell & Associates Inc. (NSAI) engineering firm, the Karish and Tanin reservoirs contain a potential of 136 billion cubic meters (BCM) of natural gas - double the initial estimates.

Cyprus working extensively to export its natural gas to Egypt - ENERGY EGYPT / INTERAFX / CYPRUS MAIL

Nov 2 2017

Cyprus Hydrocarbon Company (CHC) is working “intensively” towards making gas exports to Egypt possible, General Manager Panos Kelamis told Cyprus Mail. “We want to clinch an agreement, because this would be an agreement for 15-20 years that will offer Cyprus the maximum … We definitely want to go to Egypt, but we have certainly looked at the scenarios of a great discovery and the synergies that will exist,” he says. Kelamis noted that negotiations are tough because “prices are currently low.”

Israeli sources: EU funding, better 'understanding' between Cyprus, Turkey necessary for East Med pipeline to materialize - NAFTEMPORIKI

Wednesday, 01 November 2017 14:42, UPD: 02/11/2017 10:10
V. Kostoulas

The prospect of securing EU funding and a "better understanding" between Cyprus and Turkey are judged as significant factors for achieving the construction of the East Med natural gas pipeline, which would link deposits exploited in the east Mediterranean with west European markets.

Israeli analysts well versed with the Netanyahu government's energy policy directly referred to these two factors in comments to "N" last month, while adding that the proven energy reserves comprise a valuable took in exercising policy in the wider region.

Total, Edison sign lease for oil and gas exploration off Greece - REUTERS

OCTOBER 31, 2017 / 5:46 PM 

Karolina Tagaris, Editing by Susan Fenton

ATHENS (Reuters) - A consortium led by France’s Total moved a step closer to exploring for oil and gas off Greece after signing a lease on Tuesday with the government for a block in the Ionian Sea.

Greece, Israel, and China’s “Belt and Road” Initiative - BESA

Piraeus Container Terminal

October 31, 2017George N. Tzogopoulos

This paper assesses Chinese relations with Israel and Greece since the announcement of the “Belt and Road” initiative. China’s initiative signals the continuation and expansion of a pre-existing incremental policy that aims to strengthen its economic and geopolitical roles, though Beijing’s long-term approach remains unclear.

The Belt and Road initiative does not immediately bring Greece and Israel closer. But it gives the two countries an opportunity to discuss China’s new role in the Mediterranean and to maximize bilateral relationships with Beijing without challenging their pro-West orientation. This is slowly becoming a necessity because of China’s emerging strategy and growing interest in energy projects in Greece and the eastern Mediterranean.

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Israel and the New Geopolitics of Energy - THE JERUSALEM INSTITUTE FOR STRATEGIC STUDIES

31.10.2017
Dr. Emmanuel Navon

The geopolitics of energy is undergoing significant changes, because the “oil weapon” has weakened; Israel has emerged as a natural gas producer; and the Paris Agreement on the environment necessitates a reduction in oil consumption. To take full advantage of the situation, Israel should be export gas to Turkey and Egypt, not just to Europe.

Israel had an “oil problem” at birth. In 1947, the American oil industry lobbied against the partition of Palestine for fear of alienating Saudi Arabia. The oil embargo imposed by OPEC in 1973 seriously affected Israel’s international standing: Western Europe and Japan were now demanding a full and unconditional Israeli withdrawal from all the territories conquered in 1967, and nearly all African countries severed diplomatic relations with Israel.

Energy resources are what enabled Putin’s Russia to pursue an aggressive foreign policy and to rebuild alliances with former Soviet allies (including in the Middle-East). Iran’s nuclear program was built thanks to Russian technology. Iran was able to conclude a nuclear deal with the great powers in 2015 partially thanks to China’s need for Iranian oil and natural gas.

Energy has traditionally been Israel’s Achilles’ heel. Yet recent trends in the world energy market, as well as Israel’s emergence as a natural gas exporter, have transformed and improved Israel’s position. To fully benefit from the new geopolitics of energy, Israel must wisely leverage its natural gas resources vis-à-vis its neighbors, and play a leading role in the energy transition thanks to its technological edge.

Energean Signs Additional Gas Sales and Purchase Agreements for Natural Gas Supply from the Karish and Tanin Fields - BUSINESS WIRE

October 30, 2017 09:41 AM Eastern Daylight Time

LONDON--(BUSINESS WIRE)--Energean Oil & Gas (“Energean” or “the Company”) is pleased to announce that Energean Israel has signed three new Gas Sales and Purchase Agreements (“GSPAs”) with Dorad Energy Ltd. ("Dorad"), and with Ramat Negev Energy Ltd. ("Ramat Negev") and Ashdod Energy Ltd. ("Ashdod"), both subsidiaries of the Edeltech Group, for natural gas supply from the Karish and Tanin Fields, offshore Israel.

“The GSPA’s signed today enable the diversification of natural gas supply sources for local projects and contribute to the companies' business strategies.”

Cyprus Sets End 2018 Date for Verdict on Gas Prospects - NAHARNET / AFP

30.10.2017

Cyprus will know by the end of 2018 if it has exploitable offshore gas reserves after several more test drills are carried out, the island's Energy Minister George Lakkotrypis said Monday.

"Over the next 12 months, we expect to have either four or five drills, which will be extremely important going forward," Lakkotrypis told a parliamentary committee.

"At the end of 2018, we will now know the hydrocarbon resources we have in order to be able to make decisions on our gas exploitation strategy," he added.

Nooros exceeds natural gas production targets - ENTERPRISE

Sunday, 29 October 2017

The Nooros natural gas field daily production capacity reached 1.1 bcf/d, exceeding the targeted 350-400 mfc/d, Oil Minister Tarek El Molla said in a TV interview yesterday, Al Shorouk reports. 

The cost of investment in the gas field, which Italy’s Eni signed the concession for at the 2015 Economic Development Conference, also rounded off to USD 270 mn, below the projected USD 450 mn, El Molla added.

Deep Offshore Exploration in Greece - GEO EXPRO

October 2017
Yannis Bassias
Newly processed seismic will uncover hydrocarbon resources hidden offshore Greece
This article appeared in Vol. 14, No. 4 - 2017

Recent interest in the areas south-west and west of Crete and in the Ionian Sea between Greece and southern Italy have brought western Greece to the attention of the oil and gas exploration industry, spurred on by East Mediterranean discoveries like Zohr in Egypt and Aphrodite in Cyprus. Hellenic Hydrocarbon Resources Management (HHRM), which was established in September 2011, provides today an innovative route to the management of Greek hydrocarbon resources. The company is now studying new tenders for the area, suggesting that, despite the present low oil price, the search for hydrocarbons in Greece is of increasing interest, as new technologies boost the cost-efficiency of operations.

Oil Production in Africa - JEUNE AFRIQUE

SOURCE: JEUNE AFRIQUE

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.

USD 27.3 bn to be invested in gas fields, USD 15.5 bn worth of exploration agreements to be signed next year - ENTERPRISE

Wednesday, 25 October 2017

USD 27.3 bn to be invested in gas fields next year: Some 230 new wells will be drilled at a cost of USD 2 bn in 2018, while approximately USD 27.3 bn will be invested in the Zohr, North Alexandria, and Nooros fields, Oil Minister Tarek El Molla said yesterday, Al Shorouk reports. 

El Molla also forecasts signing 83 new exploration agreements worth a total of USD 15.5 bn, in addition to USD 3.8 bn worth of new petroleum refining projects. 

Natural gas projects are expected to increase 50% in 2018, with that rate accelerating to 100% by 2020, El Molla said. The minister also announced that the second edition of the Egypt Petroleum Show will kick off on 12 February 2018 to showcase short- and long-term plans in the oil and gas sector.

El Molla meets with delegation from Port of Rotterdam Authority - ENTERPRISE

Port-of Rotterdam total throughput 2016

Wednesday, 25 October 2017

Oil Minister Tarek El Molla met with a delegation from the Port of Rotterdam Authority to discuss cooperation on local port development,according to a ministry statement. The minister said he was eager for the authority to lend its expertise in adding oil and gas infrastructure to ports and in turning the Damietta Port into a logistical hub.

BP expects six-fold net production growth in Egypt by 2020 - REUTERS

OCTOBER 24, 2017 / 5:02 PM

Reporting by Wendell Roelf. Editing by Jane Merriman

CAPE TOWN, Oct 24 (Reuters) - BP expects to increase net production from Egypt’s Nile Delta to increase six-fold to more than 300 million barrels of oil equivalent a day by 2020, from 50 mboed in 2016, its vice president for African exploration said on Tuesday.

Jasper Peijs said the increase would be underpinned by three major projects, including Atoll phase 1 and the Zohr offshore field operated by ENI. 

PowerChina wins $2b refinery project in Egypt - GLOBAL TIMES

2017/OCT/24 21:43:40

Sinohydro Corp, a subsidy of State-owned Power Construction Corp of China (PowerChina), has signed a contract with Egypt-based Soukhna Refinery and Petrochemicals Co (SRPC) for a refinery project in a deal worth $1.99 billion, read a statement the company sent to the Global Times on Tuesday.

The project in Sokhna, Egypt will have a planned processing capacity of 155,000 barrels per day at the initial stage, the statement noted. PowerChina is responsible for the design, procurement and construction of relevant facilities.

Under the agreement, the project is expected to be completed within 44 months. The plant will improve Egypt's industrial structure, expand its refining capacity and bring more foreign-exchange revenue into the country, according to the statement.

Oil Minister invites Bechtel to bid on a number of key energy projects - ENTERPRISE

Tuesday, 24 October 2017

Oil Minister Tarek El Molla invited Global engineering and construction giant Bechtel to participate in some of the biggest energy projects taking place in the country, Al Masry Al Youm reports.

The MOPCO and Ethydco refining complexes, as well as a number of oil and gas finds, were among the projects El Molla pitched to CEO Brendan Bechtel in a Monday meeting.

Gas output of Abu Qir Co rose to 66B cubic feet in 2016 :el Molla - EGYPT TODAY

Mon, Oct. 23, 2017

CAIRO – The total gas production of Abu Qir Petroleum Company rose to 66 billion cubic feet during the 2016/2017 fiscal year, Petroleum Minister Tarek el Molla said Monday.

The company's output of crude oil and its derivatives also rose to 1.2 million barrels, the minister said.

Abu Qir Company is a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Italian Edison company.

Energy minister: Russia retains option of laying Turkish Stream through Greece - TASS

October 23, 19:57 UTC+3

MOSCOW, October 23. /TASS/. Russia maintains the option of laying the second branch of the Turkish Stream gas pipeline through Greece, Russian Minister of Energy Alexander Novak told Anadolu news agency.

"Gazprom has signed road maps with the relevant ministries of Bulgaria, Serbia and Hungary on the development of national gas transmission systems in accordance with the applications of Gazprom Export. But there is also a supply option in the direction of Greece, and further through the planned pipeline Poseidon to the Italian market," the minister said.

According to Novak, to date, construction of 370 km of the pipeline is completed. In the near future, a protocol on commencement of construction of the onshore transit part of the gas pipeline should be signed. Construction work is planned to be completed by 2019.

Egypt Gas inks LE 152.17m contract with ARABCO - EGYPT TODAY

Mon, Oct. 23, 2017

CAIRO – Egypt Gas signed a contracting agreement with the Kuwaiti firm Al Rabiah Construction Company (ARABCO) for KWD 2.6 million (L.E 152.17 million or $8.1 million).

This agreement comes as a part Egypt Gas’s plan to expand outside Egypt, according to a statement issued on Monday.

The contract has a duration period of 18 months, starting from 2018. The return on the agreement is estimated at LE 10 million ($566,692). This rate was taken into consideration when calculating Egypt Gas’ fair value (FV).

In early October, the Egyptian Financial Supervisory Authority (EFSA) approved the FV of Egypt Gas at LE 175.39 per share. At the stock level, Egypt Gas started Monday’s session at LE 224.10.

Egypt Gas is a natural gas company established by the Minister of Investment Affairs for the purpose of carrying out the implementation of natural gas projects as a general contractor and to all work associated with and related to those activities.

Cyprus to claim EEZ in sea north of island – Update - CYPRUS MAIL

OCTOBER 22, 2017

Evie Andreou

THE GOVERNMENT plans to submit coordinates, regarding its exclusive economic zone (EEZ) in the sea north of the island, to the United Nations in the coming days. It would also try to engage in discussions with Turkey about the delineation of its EEZ, in that part of the sea, reported Philelefteros on Sunday.

Asked about the report by the Cyprus News Agency, government spokesman Nicos Christodoulides avoided being specific. He said the government was taking decisions for securing the sovereign rights of the Republic of Cyprus.

Rosneft looking into expanding Zohr stake - ENTERPRISE

Sunday, 22 October 2017

INVESTMENT WATCH- Rosneft CEO Igor Sechin told reporters the company is considering buying an additional 5% stake in Zohr, Reuters reports. Rosneft recently closed its acquisition of a 30% stake in the gas field — first announced last year — from Eni for USD 1.125 bn. Sechin also added some of the gas produced from Zohr “could be supplied to Europe.”

This comes as EGAS sources say that the field will begin production as early as next month at a daily capacity of 350 mcf, according to Youm7. Production will double to around 700 mcf/d before the end of 1Q2018, the source added.

Zohr field to start production by November-end - EGYPT TODAY

Workers on platform at Zohr field (Source: Eni)

Sat, Oct. 21, 2017

CAIRO – The Mediterranean’s largest gas field Zohr will start production in the second half of November with a production capacity of 350 million cubic feet (mmcf) of gas per day, a source in the Egyptian Natural Gas Holding Company (EGAS) said Saturday.

He expects production to be doubled in two months to reach some 700 mmcf per day, increasing to one billion cubic feet before the end of the first quarter of 2018.

WoodMac: What's behind the boost in Libya's oil production? - WORLD OIL

OCTOBER/20/2017

EDINBURGH -- Libya's oil production has increased steeply from August 2016’s low point of below 300,000 bpd to around 850,000 bpd at present, passing the 1-MMbpd barrier in July. But Wood Mackenzie believes Libya may now be reaching its near-term production limits and future growth will be gradual.

FSRU Projects in the Eastern Mediterranean - MIDDLE EAST STRATEGIC PERSPECTIVES

SOURCE

Egypt launches 12-cargo LNG tender for Q1, 2018 delivery -trade sources - REUTERS

OCTOBER 20, 2017 / 2:34 PM

Reporting by Oleg Vukmanovic, editing by David Evans

LONDON (Reuters) - Egyptian Natural Gas Holding Company (EGAS) has launched a tender to buy 12 liquefied natural gas (LNG) cargoes for delivery in the first quarter of 2018, trade sources said on Friday.

EGAS is seeking to bring in nine of the cargoes via Egypt’s two floating import terminals and three cargoes through a Jordanian terminal.

In the past EGAS has imported LNG through the Jordanian facility, where cargoes were converted back into gas and pumped through pipelines to Egypt.

Bids must be submitted by Oct. 29, traders said.

EBRD grants $500M in financing to TANAP - KALLANISH ENERGY

October 19, 2017

The European Bank for Reconstruction and Development (EBRD) approved Wednesday a $500 million loan to help finance construction of the $8.6 billion Trans-Anatolian Natural Gas Pipeline (TANAP), Kallanish Energy reports.

The project will deliver “crucial energy supplies from the Caspian Sea through to Europe along the Southern Gas Corridor (SGC), and make an important contribution to the energy security and diversification (in Europe),” the EBRD said.

The 1,850-kilometer (1,150-mile) line accounts for over half of the 3,500 km (2,174-mile) SGC pipeline system, and will transport 16 billion cubic meters per year (Bcm/y – 564.8 billion cubic feet, Bcf/y) by 2020.

Turkey will consume 6 Bcm/y (211.8 Bcf) and the remaining 10 Bcm/y (353 Bcf/y) have already been contracted by several European gas traders, mostly in the Italian market.

Some $1.4 billion of financing loans were granted last year for TANAP — $800 million from the World Bank and $600 million from the Asian Infrastructure Investment Bank (AIIB). The European Investment Bank (EIB) is considering to finance $2 billion of the project, but its final decision is due next month.

Energean reports first CPR results for two blocks, offshore Montenegro - WORLD OIL

 Comparison of SPE and NPD Classifications

OCTOBER/19/2017

LONDON -- Energean Oil & Gas has announced the first Competent Persons Report (CPR) for its assets offshore Montenegro, compiled by Netherland Sewell & Associates (NSAI), detailing the recoverable gas and liquids resource estimates in respect to Energean’s 100% interest in blocks 4218-30 and 4219-26.

The CPR shows the combined net unrisked prospective recoverable resources (P50) for the two blocks, awarded to the Company earlier this year, as 1.8 Tcf natural gas and 144 MMbbl liquids (438 MMboe in total).

Israel's Delek Group Mulling $280M Sale of Royalties From Tamar Offshore Gas Field - HAARETZ

Yitzhak Tshuva

Oct 18, 2017 2:57 AMEran Araz
Delek Group faces a government deadline to divest its 31.25% stake in Tamar by 2020 as part of regulation in place to dismantle Israel's gas cartel

In a deal that could be valued at 1 billion shekels ($280 million), Delek Group is weighing a plan to sell the royalties it is entitled to from its Delek Drilling subsidiary to investors, TheMarker has learned.

Known as overriding royalties, the money is paid to Delek Group from revenues generated from the Tamar gas field and are paid out before Delek Drilling pays dividends to the holders of its participation units.

The royalties have amounted to 3% of revenues until now but are due to rise to 13% now that Delek Drilling has earned back the cost of developing Tamar.

Edison receives first package from East Med 3D survey - OFFSHORE MAGAZINE

October/17/2017

Offshore staff

TUNBRIDGE WELLS, UK – Shearwater GeoServices has supplied a 3D fasttrack pre-stack depth migration (PreSDM) product for Edison International from a new 3D SHarp broadband dataset in the Eastern Mediterranean.

Simon Telfer, VP Processing and Imaging at Shearwater, said: “Edison required a PreSDM volume within weeks of completing the 3D acquisition. Our Onboard Processing and Depth Imaging groups worked closely to draw up a plan and deliver…

“We delivered to Edison a full 3D pre-stack depth migration product, including broadband processing and iterative model-building in just over four weeks from the final acquired shot record.”

EK Holding sells stake in Egyptian Hydrocarbon to Carbon Holdings - ENTERPRISE

Monday, 16 October 2017

M&A WATCH- An Egypt Kuwait Holding subsidiary sold a 26% stake in Egyptian Hydrocarbon Company to Carbon Holdings, according to a regulatory filing. Carbon Holdings bought the stake for USD 65.2 mn, the disclosure notes without adding further detail. 

A source close to the transaction tells us that EKS will record a capital gain of USD 18 mn on the investment, which it will recognize in its 3Q2017 financials. 

The exit, which we’re told will have no impact on EKH’s recurring revenues or profitability, should help make EK Holding a cleaner investment story going forward.

Future challenges for East Med energy - CYPRUS MAIL

October 15, 2017

Charles Ellinas

An international conference on the future of energy in the eastern Mediterranean held in Nicosia earlier this month had three main themes: global energy developments and their impact on the East Med; the oil and gas industry and the prospects for the region, and energy transition and renewables in the East Med.

Impact of global energy developments

The keynote presentation was made by Professor Jonathan Stern of Oxford University’s Institute of Energy Studies, who is a renowned expert in the global energy and gas industries. It was a forceful but sobering presentation setting the global scene. His opening statement was that the ‘good old days’ of the global gas sector are over. Industry liberalisation, increasing competition, short-term trading, the relentless advance of renewables, energy efficiency and carbon reduction policies are impacting future energy demand. The future for gas is uncertain due to competition from low carbon energy and Paris Climate Agreement commitments.

The rate of growth of energy, power and gas demand in Europe has declined since its peak in 2010. Low prices also mean that companies want guarantees for projects for at least 15 years – otherwise they do not invest. Russian gas penetration of Europe is increasing and low prices make it difficult for others to compete.

Two Oil Majors Submitted their Bid for the Lebanese Licensing Round - LEBANON GAS NEWS

13.10.2017

Total and ENI along with Novatek submitted in one consortium their bid in the First Lebanese Licensing Round.

The consortium submit its bid on two offshore blocks, 4 and 9.

Lebanon relaunched the licensing round for five offshore blocks (1, 4, 8, 9 and 10) in January after a three-year delay due to political paralysis.

The single bid is presently under evaluation by the Lebanese Petroleum administration, which will send its recommendation to the minister of energy Eng. Cesar Abi Khalil. The minister on its turn will relay it to the council of ministers for final approval.

Lebanon is hoping to make its first award by the end of the year.

Greek utility eyes greater LNG purchases in next 3 years due to higher demand - NAFTEMPORIKI / REUTERS

Friday, 13 October 2017 22:12
K. Deligiannis

Greece’s state-run natural gas supplier (DEPA) is eyeing purchases of greater quantities of liquefied natural gas (LNG) over the coming three-year period, a move attributed to growing demand in the country and the region.

The development could also mark the inaugural supply of LNG from North American providers.

The utility's board of directors this week approved a tender for LNG supplies, open to European and US companies.

According to figures released late last month by the natgas grid operator in the country, DESFA, and the independent statistics authority, LNG supplies to Greece in 2016 increased by 30.5 percent – deliveries and re-exported quantities – compared to 2015.

According to preliminary estimates for the current year, a 30-percent increase in LNG supplies is forecast.

Shell plans to drill 63 wells in Egypt in 2018 - EGYPT TODAY

Thu, Oct. 12, 2017

CAIRO – 12 October 2017: Royal Dutch Shell planned to drill 63 wells in Egypt in 2018 at different geological structures in the Western Desert, Shell’s director Andrew Brown announced Thursday.

“This targets increasing oil and gas production volume in the Western Desert,” Brown added.

In a Thursday meeting with Prime Minister Sherif Ismail and Minister of Petroleum Tarek El-Molla, Brown explained that Shell’s projects in the next period include Phase 9b in the West Delta Deep Marine Concession with $1.6 billion in total investments.

Brown has also presented plans and recommendations of his company to increase investments in the oil and gas exploration and production.

In June, Shell said it plans to increase investments in oil and gas explorations in Egypt.

Bids on Lebanon offshore energy blocks close - REUTERS

OCTOBER 12, 2017 / 9:29 PM
Reporting by Angus McDowall & Lisa Barrington; editing by David Evans & Jonathan Oatis

BEIRUT (Reuters) - Lebanon’s Energy Minister Cesar Abi Khalil on Thursday said a tender had closed on a first round of offshore energy blocks, and told local media that two consortiums had submitted bids.

Greek firm Gastrade signs LNG deal with state-owned DEPA - REUTERS

OCTOBER 12, 2017 / 8:32 PM

Reporting by Angeliki Koutantou. Editing by Jane Merriman

ATHENS, Oct 12 (Reuters) - Greece’s state controlled natural gas firm DEPA signed a cooperation agreement on Thursday with natural gas company Gastrade to participate in the development of a liquified natural gas terminal in northern Greece, DEPA said.

Greece currently has one LNG terminal on an islet off Athens. Gastrade, part of Greek energy group Copelouzos, is planning a second LNG terminal near the northern city of Alexandroupolis.

The project has been described as a ‘project of common interest’ by the European Union.

Blast at Tupras refinery in Turkey kills four - HYDROCARBON PROCESSING / REUTERS / DAILY SABAH

October/11/2017Writing by Daren Butler; Editing by Dominic Evans

ISTANBUL (Reuters) — An explosion in a storage tank at a Tupras refinery in the western Turkish province of Izmir on Wednesday killed four people but had no impact on production, the company said.

Tupras said in a statement that the explosion occurred following maintenance work on Wednesday morning.

Television footage showed black smoke rising from the site of the blast.

DAILY SABAH, October 11, 2017

The refinery, operated by Turkey's only oil refiner in the Aliağa district, is the country's second-largest in terms of its annual processing capacity of 11 million tons.

Crucial decisions on gas find by end of 2018, says minister - CYPRUS MAIL

October 11, 2017

Andria Kades

Cyprus will take decisions over the monetisation of its natural gas reserves by the end of 2018 following explorations by Exxon Mobil and Qatar Petroleum consortium in Block 10, Energy Miniter Yiorgos Lakkotrypis said on Wednesday.

Speaking during a panel discussion at the Maritime Conference taking place in Limassol, Lakkotrypis said there will be a clearer picture next year, as the consortium will carry out two drillings in block 10 in the second half of 2018.

The new drilling activity comes after an exploration by French Total in block 11, which although did not reveal commercially viable gas reserves, proved that the geologic model, which led to the discovery of the giant Egyprian Gas field Zhor, “works for Cyprus” Lakkotrypis said.

“By the end of 2018 we will have concluded what I called exploration round 2.0 which started with the discovery of Zhor completed and that is the moment we will have a pretty good idea. That will be the moment when Cyprus will take its decision about monetisation,” he added.

Jordan’s Energy Minister looks to expand energy cooperation with Egypt - ENTERPRISE

Wednesday, 11 October 2017

Jordan’s Energy Minister Saleh Kharabsheh is in Egypt to discuss expanding energy cooperation. Along with Oil Minister Tarek El Molla, he attended the signing of two MoUs between Jordanian Egyptian Fajr for Natural Gas Transmission & Supply, Fajr Egypt, the Egyptian Natural Gas Company (Gasco), and Egypt Gas. 

The first agreement will see the establishment of a JV between the companies to operate oil and gas pipelines in Jordan, while the second pertains to feasibility studies on a number of natural gas grid development and expansion projects in Jordan, according to Al Mal. 

Kharabsheh also met with Electricity Minister Mohamed Shaker to discuss establishing a second power line connecting the electricity grids of both countries, a proposal Shaker welcomed.

Major oil pipeline between Iraq and Turkey to bypass Kurdish region - MIDDLE EAST MONITOR

October 11, 2017 at 2:16 am

Iraq and Turkey have intensified their efforts to isolate independent seeking Kurds by bypassing the region while re-opening a disused oil pipeline between the two countries.

The central government in Iraq wants to restore one of its oldest pipelines that run from Kirkuk in the Kurdish region of Iraq to Mediterranean port of Ceyhan in Southern Turkey. The pipeline was damaged in areas occupied by Daesh until Iraqi forces regained control of the region late last year.

Iraq’s oil minister, Abdul Karim Luaibi Bahedh announced in a statement today, repairs to the pipeline, which was once a key artery of Iraq’s oil export.

Eni looks to Crete to further East Mediterranean exploration - OIL & GAS JOURNAL

HOUSTON, Oct. 9 2017
Tayvis Dunnahoe
OGJ Exploration Editor

Italy’s Eni SPA is eyeing acreage near Crete as Greece works toward opening its offshore to oil and gas development. According to Greece’s Kathimerini web site, Eni is taking the likely step from its foothold on the neighboring Cypriot market to expand its scope in the southeastern Mediterranean and the Greek market.

The company is expected to face strong competition with the consortium of Hellenic Petroleum, Total SA, and Edison considering the same area for development. Competition will strengthen Greece’s negotiating position ahead of signing concession contracts (OGJ, Aug. 27, 2017, p. 34).

Rosneft Closes the Deal to Acquire a 30% Stake in Zohr Gas Field - ROSNEFT

09 October

Rosneft closed the deal to acquire a 30% stake in the concessions agreement for the development of Zohr field, the largest gas field in the Mediterranean Sea, from Italian company Eni S.p.A.

The cost of Rosneft stake acquisition is USD 1.125 bln. The Company also refunded its share in past project costs to Eni.

The Company becomes a participant of the project to develop the largest deepwater gas field offshore Egypt jointly with other world majors and strategic partners of Rosneft – Eni (60% stake) and BP (10% stake).

EGAS to issue new oil and gas exploration tenders in 2018 - ENTERPRISE

Monday, 9 October 2017

EGAS plans to issue new oil and gas exploration tenders in 2018, an unnamed company official tells Al Shorouk.  

We had said last month that EGAS was planning to issue global tenders for the West Mediterranean concession once Norwegian firm PGS releases the results of its seismic survey for the area before the end of FY2017-18.

Learn more about EGAS.

Six lenders to secure EGP 2.3bn for GPC - AL MAL

Sunday 08 October 2017 12:11 PM
Moahmed Salem

Egypt’s General Petroleum Company (GPC) has signed a financing agreement with a banking alliance made up of 6 local lenders to obtain a loan of EGP 2.3bn to finance oil and gas exploration and drilling operations.

The vice chairman of the National Bank of Egypt (NBE) Yehia Abul Fotooh said that the banking alliance arranging the deal includes NBE, Banque Misr, Arab African International Bank, Societe Arabe Internationale De Banque (SAIB), EG Bank and Union National Bank – Egypt.

Eni bets big on Zohr explorer finding new treasure - REUTERS

Eni's Chief Exploration Officer Luca Bertelli poses at the headquarters in San Donato near Milan, Italy, September 15, 2017. REUTERS/Alberto Lingria

OCTOBER 6, 2017 / 12:12 PM
Stephen Jewkes

MILAN (Reuters) - Italian oil major Eni (ENI.MI) is betting billions on Luca Bertelli being able to achieve something he’s been doing since he was nine years old: spotting things others overlook.

The geologist, who heads Eni’s exploration team, began collecting rocks as a boy growing up in Tuscany, developing a curious eye that eventually led him to discover two of the world’s biggest gas fields this century.

His latest success, the Zohr field off Egypt, sits in an area that Royal Dutch Shell (RDSa.L) pored over for years before Bertelli persuaded his boss to embark on a drilling program that turned up the Mediterranean’s largest gas discovery.

Zohr to start production in December: Eni - EGYPT TODAY / REUTERS

Technicians on Zohr's platform (Source: ENI)

Thu, Oct. 5, 2017

CAIRO – 5 October 2017: Egypt’s giant gas field Zohr will start production in December, the project’s developer Eni’s CEO Claudio Descalzi said Thursday, Reuters reported.

Zohr is the largest natural gas field found in the Mediterranean and was discovered in 2015 by Eni. The field has an area of 100 square meters at a depth of 1,450 meters.

Investing around $10 billion in the project, Eni is estimating total output of the field to be approximately 30 trillion cubic feet of gas.

The field will start production through three phases. The first phase will see an output of one billion cubic feet per day (ft2). When all seven fields are complete by 2019, this amount will increase to 2.7 billion ft2.

The field is expected to secure Egypt’s domestic needs of gas after it has become a net importer of gas following a cut in production after the January revolution.

Oil discovery at Rabul 2 Well, West Gharib Concession - SDX ENERGY

5 October 2017 

Egypt SDX Energy Inc. (TSXV, AIM: SDX), the North Africa focused oil and gas company, is pleased to announce that an oil discovery has been made by the Rabul 2 Well in the West Gharib Concession in Egypt (SDX 50% Working Interest & Joint Operator). 

The well encountered approximately 101.5 feet of net heavy oil pay across the Yusr and Bakr sand formations, with an average porosity of 20%. Evaluation is ongoing, after which the Company expects that the well will be completed as a producer in the Bakr and connected to the central processing facilities at Meseda. 

The Rabul 2 well is the last of the commitment wells in the West Gharib concession and was drilled as an offset to the first commitment well Rabul 1, which was drilled in July 2017. Rabul 1 encountered 14.5 feet of net heavy oil pay with an average porosity of 21.2% in the Yusr sands and was subsequently completed as an oil producer in the Yusr sands.