Baltim’s Third Well to Be Linked to Year-End Production - EGYPT OIL & GAS

Monday, 25th November 2019

Italian giant, Eni, is working on linking the third well of Baltim field to production by the end of 2019, an official source told Alborsa news.

The third well is expected to add around 100 million cubic feet per day (mmcf/d) of natural gas and 650 barrels of condensates.

After linking the third well to production, the field’s production is anticipated to reach 290 mmcf/d of natural gas and 1,950 barrels per day (b/d) of condensates, according to the sources.

The source noted that Baltim field includes six well of natural gas with an average production rate of around 75-100 mmcf/d of natural gas, making the total production of natural gas reach 500 mmcf/d.

Netanyahu’s cousin bought Greek steel company as PM backed Greece gas deal - THE TIMES OF ISRAEL

24 November 2019, 7:49 pm

Prime Minister Benjamin Netanyahu’s cousin, US businessman Nathan Milikowsky, invested earlier this year in a massive Greek steel conglomerate at the same time the prime minister was advancing a gas pipeline deal with Greece and Cyprus, according to an exclusive report Sunday by The Times of Israel’s Hebrew sister site, Zman Israel.

According to the report, in late June, Milikowsky’s company, Jordan International, bought Hellenic Steel, which for many years was Greece’s second-largest steel company.

The report notes that Hellenic Steel’s factory near Thessaloniki had been out of commission for five years amid Greece’s economic crisis, and only resumed its activity last week, with the new investment.

The report says Jordan International is expected to invest some 100 million euros ($110 million) in the factory, whose output is expected to reach some 350,000 tons’ worth of product per year.

TAP pipeline completed; trial op starts soon - KATHIMERINI

24.11.2019 : 13:04

The Greek section of the Trans-Adriatic Pipeline (TAP) transporting natural gas from Azerbaijan to Greece, Albania, Italy and points beyond in western Europe is ready and will begin trial operations in early December.

During this so-called commissioning phase, small volumes of natural gas will go through the pipeline to ensure commercial use is safe.

The pipeline has already been tested for structural flaws by pumping water under pressure through it.

The commissioning phase will last several months, but commercial use will begin in 2020.

The total length of the pipeline from the Greek-Turkish border to Italy through Albania and the Adriatic Sea is 878 kilometers (545 miles).

Egypt signs $430-million gas deal with Texas' Noble Energy - YAHOO FINANCE / REUTERS

November 23, 2019

CAIRO, Nov 23 (Reuters) - Egypt said on Saturday it had signed several multimillion-dollar energy investment accords including a $430-million deal for Texas-based Noble Energy to pump natural gas through the East Mediterranean Gas Company's pipeline.

Under another agreement with Noble, which will also be financed by the U.S. International Development Finance Corporation, the energy company will manufacture petroleum products in partnership with Egyptian company Dolphinus Holdings.

The cabinet detailed the plans at the end of an Africa investment forum held on the site of the country's planned new administrative capital in the desert east of Cairo.

Amsterdam-based Lekela also announced the start of construction work on its West Bakr wind power plant, which will have a capacity of 250 megawatts and require a total investment of $350 million.

Libya’s NOC sets out big plans in international pitch - ENERGY VOICE

22/11/2019, 7:18 am

Ed Reed

Libya expects to raise more than $20 billion in revenue in 2019, with production running at around 1.25 million barrels per day, the company’s chairman Mustafa Sanalla said at a conference in Tunis.

The plan is for 2020 to be a “transformative year for NOC and Libya”, he said. There are a number of aspects to the scheme, which should see production increase to 1.5mn bpd in 2020 and 2.1mn bpd by 2024. Gas output by that point should be 3.5 billion cubic feet (99 million cubic metres) per day.

NOC also intends to launch a charter for its values and implement a “4D security plan”, covering transparency, engagement with communities and restricting criminal gangs’ ability to carry out fuel smuggling and other sources of revenue raising. Sanalla set out plans for an “endowment fund”, under which communities hosting oil production would receive payments linked to output volumes.

Leading the Way in Cyprus - NOBLE ENERGY

21 NOVEMBER 2019

Noble Energy was the first operator to discover natural gas resources offshore the Republic of Cyprus. In November 2019, we entered an amended production sharing contract and received the first exploitation license granted by the Government of Cyprus. These agreements provide a fiscal and regulatory pathway for economic development of the Aphrodite field.

The Aphrodite field has the potential to help meet strong regional demand. We look forward to working with the government and people of Cyprus to help the country and the region realize the economic benefits Aphrodite can provide.

Reflecting our commitment to the republic’s economic future, Noble Energy participates on the International Presidential Business Advisory Council, which focuses on improving the country’s capacity to innovate and compete on a global scale.

In recognition of our leading role in development of natural gas resources in Cyprus and the Eastern Mediterranean Region, Noble Energy was presented with the Cyprus International Promotion Agency International Investment Award in both 2012 and 2015.

Energean to supply natural gas worth over $1b. to Alon Tavor power plant - THE JERUSALEM POST

NOVEMBER 21, 2019 17:46 

EYTAN HALON

British-Greek oil and gas producer Energean will supply natural gas worth more than $1 billion to Israel’s Alon Tavor power plant over the next 15 years, the company said on Thursday.

Under an agreement signed with Chinese-Israeli company MRC Alon Tavor Power, the owners of the plant near Afula, Energean will supply approximately 0.5 billion cubic meters (bcm) of natural gas per year, or up to 8 bcm over the term of the contract.

“Energean is pleased to be the supplier of natural gas to the Alon Tavor power plant, which is of strategic importance for Israel’s energy and electricity market,” said Energean CEO Mathios Rigas. “The agreement signed today represents a first step toward a long-term collaboration – and joins a long list of natural gas supply agreements from the Karish reservoir to the Israeli market as soon as 2021.”

Supply will commence with the first gas extracted from the Karish gas reservoir offshore Israel, owned and operated by Energean.

House signs off on eight oil and gas exploration agreements - ENTERPRISE / AL MAL

Wednesday, 20 November 2019

The House of Representatives approved on Sunday eight oil and gas exploration agreements, Al Mal reported. 

Most of the licenses awarded were for oil concessions: Neptune Energy got the go ahead for exploration and production in the Gulf of Suez, Shell received a license for three areas in the Western Desert, Merlon El Fayum will explore in West Fayoum, and Pacific Oil and Ganope will take Ras El Ush in the Gulf of Suez. 

Eni’s joint venture IEOC, meanwhile, received a gas license to explore in the South East Siwa and West Razek concessions.

Energean seeks to supply natural gas to Cyprus from Israel - REUTERS

NOVEMBER 19, 2019 / 1:15 PM

JERUSALEM (Reuters) - Energean Oil & Gas said on Tuesday its Energean International unit submitted an application to import and supply natural gas to Cyprus starting in 2021.

In its application to Cypriot authorities, it said it sought to supply gas through a pipeline from the Karish block offshore Israel to Vassiliko, Cyprus.

The pipeline would be 215 km (135 miles) long and transport natural gas from the Karish North field, which contains 25 billion cubic meters of discovered recoverable resources.

Total investment, Energean said, will be about $350 million and will be funded by Energean. Provided there are no delays in permitting procedures, the project will allow Cyprus to receive competitively priced natural gas from 2021, it added.

Update on East Ghazalat, Egypt - NOSTRA TERRA OIL & GAS

19 November 2019

Nostra Terra (AIM: NTOG), the oil & gas exploration and production company with a portfolio of development and production assets in Texas, USA, is pleased to announce that, further to the Company's announcement of 12 August 2019, Nostra Terra's wholly owned subsidiary, Nostra Terra Inc. ("NTI") has reached a conditional agreement with regards to the East Ghazalat Concession, Egypt (the "Concession").

NTI and North Petroleum International Company SA ("North"), the operator of the Concession, have conditionally agreed that NTI will transfer its 50% participating interest in the Concession to North with provision for the conclusion of the arbitration and no further cash calls or liabilities for any past losses, including the amounts for the payment of November and December 2015 cash calls and interest, as announced on 12 August 2019.

Gloomy outlook: Aphrodite moves to exploitation - CYPRUS MAIL

Noble’s senior VP K. Elliot (L), Energy Minister G. Lakkotrypis

November 17, 2019
Charles Ellinas

The granting by the government last week of the Aphrodite gas-field Exploitation Licence for 25 years to the Noble Energy, Delek and Shell consortium is a milestone in the development of hydrocarbons discovered in the Cyprus EEZ. Not only it is the first such licence, but it enables the consortium to enter negotiations with Egypt’s Idku LNG plant to secure a gas sales contract for this gas.

Understandably, this generated considerable euphoria even to the extent of talking about the immense profits to Cyprus, estimated to be $9.3billion over the life of such a contract – based on an oil price of $70/barrel.

But let’s try to put this in context. First, the application by the consortium for an Exploitation Licence is a contractual requirement – otherwise it might have to relinquish the gas field. It does not mean that it will immediately proceed with development and production. This requires the successful completion of a number of important steps: Design of all required facilities to get a better handle over costs; Drilling at least one more appraisal well to estimate more accurately Aphrodite’s gas reserves; negotiations with Idku to secure a gas sales contract; Securing the required investment.

Egypt aims to increase oil exports revenues to $8.5bn in FY 2019/20 - MENAFN / DAILY NEWS EGYPT

NOV/17/2019 3:22:31 AM

(MENAFN - Daily News Egypt) The Ministry of Petroleum aims to increase the revenues of Egypt's oil exports by the end of the current fiscal year (FY) to $8.5bn compared to $7.7bn FY 2018/19.

Senior government sources told Daily News Egypt that the total quantities targeted for exports of crude oil, gas, petroleum products, and petrochemicals amount to 17.7m tonnes.

They added that the value of exports includes the foreign partner's share of crude oil by calculating the average price of the Gulf of Suez crude oil at $55 per barrel due to the lower prices of crude oil and petroleum products.

The Egyptian Natural Gas Holding Company (EGAS) has started to increase the amount of natural gas exported through the Idku liquefaction plant to about 1bn cubic feet per day (scf/day) compared to 300m scf/day last month.

Italgas to enter Greek market - KATHIMERINI

15.11.2019 : 16:03

CHRYSSA LIAGGOU

Italy’s biggest natural gas distribution company, Italgas, is on the verge of entering the Greek market.

Kathimerini understands that Europe’s third largest gas distributor is very close to reaching an agreement with fellow Italian Eni Gas e Luce for the acquisition of the latter’s portfolio in the Greek gas grid.

Eni Gas e Luce is a subsidiary of oil giant Eni and is active in electricity and gas retail in Greece through ZeniTH (formerly known as Thessaloniki and Thessaly Gas Corporation). It also has a 49 percent holding in Thessaloniki gas distributor EDA Thess, which is 51 percent owned by Public Gas Corporation (DEPA).

Shell appoints Citi for $1 bln sale of Egypt assets -sources - REUTERS

NOVEMBER 15, 2019 / 2:21 PM
Ron Bousso

• Western Desert sale process to launch end of Nov.
• Shell’s share of production reached 100,000 boed last year

LONDON, Nov 15 (Reuters) - Royal Dutch Shell has appointed investment bank Citi to run the sale of its onshore Egyptian oil and gas assets which could fetch around $1 billion, sources close to the process said.

The sale process is expected to be officially launched at the end of November, the sources said.

Shell said last month it plans to sell its onshore upstream assets in the Western Desert to focus on expanding its Egyptian offshore gas exploration.

Delek Group - Barclays CEO Energy-Power Conference September 2019

Pyatt at Thessaloniki Summit: “Energy Collaboration the Brightest Aspect of Greece-U.S. Relations” - THE NATIONAL HERALD

November 14, 2019

THESSALONIKI- US Ambassador to Greece Geoffrey Pyatt spoke of ”the collaboration on energy is one of the brightest aspects of the relationship between Greece and the US,” while addressing the Thessaloniki Summit 2019 on Thursday, which he is attending for a third time.

Pyatt underlined that US presence in northern Greece is much more apparent compared to previous years, as “we have made the city of Alexandroupolis our strategic focus,” and he referred to the Trans Adriatic Pipeline (TAP), the Gas Interconnector Greece-Bulgaria (IGB) and the Floating Storage Regasification Unit (FSRU) of Liquefied Natural Gas (LNG) as the three elements that make the northern Greek city so significant.

He especially praised TAP’s potential for “changing Europe’s energy map and bringing non-Russian gas to European customers.”

Cyprus signs $9 Billion gas exploitation deal with Israeli firm, energy majors - ISRAEL HAYOM

NOV-14-2019 10:39

Gilad Zwick

Cyprus announced last week that it signed its first-ever natural gas exploitation deal for the Aphrodite gas field, saying it chose a consortium comprising Israel's Delek, industry giant Shell, US-based Noble.

The 25-year license is worth US$9.3 billion. The Aphrodite gas field, discovered off Cyprus' shores in 2011 by Texas-based Noble Energy is estimated to contain over 113 billion cubic meters of gas.

"Noble Energy, Shell and Delek now have in their hands the first exploitation license granted by the Republic of Cyprus so they can commercialize the deposit," said Energy Minister George Lakkotrypis, shortly after the agreement was signed.

The signing of the deal comes after the cabinet approved revisions to a production sharing agreement, made at the companies' request due to a significant fall in hydrocarbon prices since mid-2014.

Nicosia is set to receive an average yearly income of $520 million over an 18-year period.

Energean identifies Zeus as next drilling target offshore Israel - OFFSHORE MAGAZINE

Nov 13th, 2019

ATHENS, Greece – Energean plans a 5.4-km (3.36-mi) subsea tieback of its recent Karish North discovery offshore Israel to the FPSO Energean Power.

This follows completion of side track appraisal operations at the well, which have confirmed a best estimate recoverable resource of 0.9 tcf of gas and 34 MMbbl of light oil/condensate (combined around 190 MMboe).

The Energean Power is being constructed with a gas production capacity of 8 bcm/yr (775 MMcf/d).

The drillship Stena DrillMAX has now relocated to complete the three Karish Main development wells, after which the vessel will drill the Zeus exploration prospect, targeting 0.6 tcf across three reservoir intervals.

Exxonmobil Israel talk Leviathan LNG export options - OIL & GAS EURASIA

13.11.2019

Exxonmobil is offering to build Israel a floating LNG gas-ship to export from the Leviathan gasfield and thus bypass Egypt’s planned LNG export facility.

An Exxonmobil representative told various financial media that the company is still considering its options. Other sources cautioned that it is entirely likely no agreement will be reached.

Despite considerable gas discoveries in the Eastern Mediterranean region over the past decade, viable export routes have been hard to find. This has put off global energy firms. The Leviathan partners have signed deals to meet surging demand in Egypt, Jordan and Israel, but haven’t yet found a way to export to Europe or East Asia.

SDX Energy begins gas production at Egyptian site - CITY A.M

Tuesday 12 November 2019 12:47 pm

UK oil and gas exploratory firm SDX Energy announced this morning that production had started at the company’s South Disouq concession in Egypt.

Each of the site’s four discovery wells have been tested and gas has been flowing since the 7 November.

All gas production at the site, in which SDX owns a 55 per cent stake, will be sold to Egypt’s national gas company Egas.

The company said that initial flow rates were in line with expectations and that SDX will gradually ramp up production with a view to achieving its targeted production rate of 50m standard feet per day in the first quarter of 2020.

Eni not interested in acquiring Dana Gas Egypt portfolio - ENTERPRISE

Tuesday, 12 November 2019

M&A WATCH- Italy’s Eni is not looking to acquire the Dana Gas’ assets in Egypt, Eni CEO Claudio Descalzi tells Bloomberg TV (watch, runtime: 7:14). 

Descalzi stressed that Eni is satisfied with its portfolio for the time being and plans to focus on developing current assets before biting off more. 

Dana Gas had received offers for buying its assets in Egypt and expects to make a decision on the sale after bidding closes by mid-November to focus its resources on its assets in Kurdistan. 

The company was looking to complete the sale in one transaction, but is also considering only a partial sale, which hinges on the offers presented.

Aphrodite feels the love - PETROLEUM ECONOMIST

Nicosia, 12 November 2019

Gerald Butt

Cypriot energy minister Georgios Lakkotrypis issues the country’s first exploitation licence to the Aphrodite consortium to export gas to Egypt

The discussion of exactly where the gas discovered back in 2011 in Cyprus' offshore Block 12, by a consortium including US independent operator Noble Energy, would end up has loomed for almost all the 2010s.

At his Nicosia office, the country's energy minister tells Petroleum Economist Middle East editor Gerald Butt that the question has now finally been resolved.

What is now the way ahead for Aphrodite?

Lakkotrypis: The plan is that we will transport the gas vis a subsea pipeline to Egypt, liquefying it at Idku, from where it will be shipped by Shell [another partner, along with Israel's Delek, in Aphrodite] to international markets, primarily Europe. We have spent the past 12 months or more discussing the details of a revised production sharing contract (PSC) and field development plan. So now we have the exploitation licence. First gas will be in 2025.

Why has it taken so long to get gas out of Aphrodite?

Larnaca fuel storage move on schedule - CYPRUS MAIL

November 12, 2019
Jonathan Shkurko

Larnaca mayor Andreas Vyras said Tuesday the conditions were now right for the relocation of the petroleum and LPG facilities from the coast to Vasilikos to take place.

Vyras said that the relocation of the facilities has always been a priority for the city of Larnaca.

A memorandum of understanding (MoU) was signed by the government and the fuel companies who own the storage facilities to move them to the new terminal by December 2019 and to gas stations around Cyprus by December 2020.

Vyras said the government and the companies were working tirelessly to move the units by the set date to the Vasilikos industrial area, where works have already begun.

Greece, Israel and Cyprus – with or without others - KATHIMERINI

12.NOV.2019 : 12:00

Locked in a region marked by uncertainty and risky endeavors, and amid widespread concern sparked by Turkey’s incursion into Syria, Greece, Cyprus and Israel are forging a web of stability. The project is designed to serve their own interests but at the same time serves those of Europe and the United States.

Here are three democratic states, each with its own comparative advantages, which have over the past 10 years made a systematic effort on a bilateral and trilateral level to establish a system of mutually beneficial cooperation across a wide range of activities.

A large number of plans are being implemented, or are under consideration – from the sharing of intelligence and know-how and the implementation of joint military drills to the use of unmanned aerial vehicles (UAVs), even satellites, and energy cooperation.

Turkey's illegal drilling activities in the Eastern Mediterranean: Council adopts framework for sanctions - COUNCIL OF THE EU

11 November 2019, 12:05

Today, the Council adopted a framework for restrictive measures in response to Turkey's unauthorised drilling activities in the Eastern Mediterranean. The framework will make it possible to sanction individuals or entities responsible for or involved in unauthorised drilling activities of hydrocarbons in the Eastern Mediterranean.

The sanctions will consist of a travel ban to the EU and an asset freeze for persons, and an asset freeze for entities. In addition, EU persons and entities will be forbidden from making funds available to those listed.

The framework for restrictive measures makes it possible to place under sanctions:

Steinmetz co slams Israel for giving Ishai rights to Cyprus - GLOBES

11 Nov, 2019 18:46
Amiram Barkat

"The government is allowing Delek Group, Noble Energy to humiliate it," says Ohad Schwartz, a director at Nammax Oil & Gas,

"It is embarrassing to see how the Israeli government is allowing Delek Group Ltd. (TASE: DLEKG) and Noble Energy to humiliate it, after having nurtured them and allowed them to take control of both the local and regional natural gas markets," Ohad Schwartz, a director at Nammax Oil & Gas, controlled by Beny Steinmetz, wrote to Ministry of National Infrastructure, Energy, and Water Resources director general Ehud Adiri. Schwartz represents the Israeli companies that are partners in the Yishai prospect and are claiming rights in the Aphrodite natural gas reservoir, most of which is in Cypriot territorial waters. Nammax was a partner in the Aphrodite 2 gas drilling, in which the reservoir was discovered by Noble Energy in 2011. The reservoir also extends into Israeli economic waters.

Our View: Gas deal is great news, but we must be realistic - CYPRUS MAIL

November 10, 2019
By CM: Our View

CONTRACTS for the first hydrocarbon exploitation licence were signed on Thursday and were described by energy minister Giorgos Lakkotrypis, as “another milestone in Cyprus’ energy programme”. It was the first real milestone of our energy programme because as we have learnt over the last few years, licensing rounds, surveys, exploratory drilling and discoveries of deposits might create big expectations, but until contracts for the exploitation of the findings are signed, their commercial value is theoretical.

This is an illustration of the extremely slow pace at which the oil and gas industry moves. The discovery at the Aphrodite field in block 12 was announced in December 2011, the exploitation licence was finalised in 2019 and production is scheduled to begin in 2025. It will be 14 years after the discovery before revenue will start coming in. Even then, it will be reduced because the bigger share will go towards covering the big investment by the oil companies, estimated to be in the region of €7 billion.

Petroleum Min. announces putting Silva gas well on production - EGYPT TODAY

Fri, Nov. 8, 2019

CAIRO – 8 November 2019: Ministry of Petroleum announced Thursday putting Silva natural gas well in phase 9B of the deep western delta concession area in the Mediterranean on production, at 60-80 million cubic feet per day in early November.

The ministry said in a statement that the Silva well is the third to be put on production within a month after the wells, Saphir East and East Swan, which were put on production last October with a production rate of up to 170 million cubic feet of gas per day.

It added that Burullus Gas Company, which is operating in the project on behalf of the Petroleum Authority, and Shell International completed linking the new well to production, bringing the total production of the three wells to about 240 million cubic feet per day of natural gas.

Cyprus signs deal for offshore gas concession - REUTERS

NOVEMBER 7, 2019 / 4:41 PM

ATHENS (Reuters) - Cyprus signed a 25-year concession on Thursday with a three-member consortium for the exploitation of a gas reservoir south-east of the island first discovered in 2011.

The contract with Noble Energy (NBL.N), Shell (RDSa.L) and Delek (DEDRp.TA) is the first commercial exploitation license signed by the Mediterranean island. The Aphrodite field is thought to hold an estimated 4.1 trillion cubic feet (tcf) of gas.

Cypriot authorities have said natural gas will start being extracted in 2025, with estimated earnings of 9.3 billion euros ($10.29 billion) over an 18-year period.

“The plan includes the implementation of what we consider the best possible option, transferring gas through an subsea pipeline to Idku in Egypt from where LNG will be exported to Europe and international markets,” Cypriot energy minister Yiorgos Lakkotrypis said in a statement.

In September last year Egypt and Cyprus signed an agreement to build an undersea natural gas pipeline from the Aphrodite field to a liquefaction plant in Egypt.

Noble Energy Closes on Acquisition of Interest in the Eastern Mediterranean Gas (EMG) Pipeline - YAHOO FINANCE

November 6, 2019

HOUSTON--(BUSINESS WIRE)--

Noble Energy, Inc. (NYSE: NBL) (“Noble Energy” or the “Company”) announced today that the Company and its partners have closed on the acquisition of a 39 percent equity interest in the Eastern Mediterranean Gas Company S.A.E. (“EMG”), which owns the EMG Pipeline. The pipeline will be used to transport natural gas volumes into Egypt under the Company’s gas supply agreements with Dolphinus Holdings (“Dolphinus”). Noble Energy’s net acquisition investment in the EMG Pipeline totaled $185 million, and the Company’s effective interest in the pipeline is 10 percent.

J. Keith Elliott, Noble Energy’s Senior Vice President, Offshore, stated, “The closing of the EMG acquisition will support delivery of natural gas from the Tamar and Leviathan fields into Egypt, and represents a major milestone toward Egypt’s goal of becoming a regional energy hub. This acquisition, combined with our recently announced Dolphinus gas sales contracts offtake increases, provides further confidence in both the long-term export market and growing cash flows from our Eastern Mediterranean assets.”

IGI Poseidon signs MoU on Israeli gas pipeline - KATHIMERINI / REUTERS

05.11.2019

Israel Natural Gas Lines (INGL) is looking at building a natural gas pipeline to Europe under a memorandum of understanding signed with IGI Poseidon, it said on Tuesday.

The mooted EastMed pipeline could carry about 10 billion cubic meters of gas a year from the Eastern Mediterranean to Cyprus, Greece, Italy and other European markets.

INGL and IGI Poseidon will form a joint team to examine technical, regulatory and other issues involved in constructing the pipeline, INGL said in a regulatory filing.

IGI Poseidon is a joint venture between Greek natural gas firm DEPA and Italian energy company Edison. It has been promoting the project for several years with the backing of Israel and a number of European countries.

Vast offshore gas discoveries over the past decade have transformed Israel into an energy exporter, with export deals already signed with customers in Jordan and Egypt.

Greece's Energean reports successful Karish North Appraisal - FINANCIAL MIRROR

04 November, 2019

The oil and gas producer focused on the Mediterranean, said the appraisal “significantly enhances Energean’s discovered resource volumes across its Karish and Tanin leases”.

“Volumes are incremental to the 2.4 Tcf (68 BCM) and 33 million barrels of light oil / condensate discovered resources that Energean already has in its Karish and Tanin leases.”

The Karish North Discovery will be developed via a tie-back to the Energean Power FPSO, which is located 5.4km away and is being built with 8 BCMA of capacity.

Mathios Rigas, Chief Executive of Energean said: “This is an excellent result from the Karish North appraisal sidetrack, confirming in place volumes in the top half of pre-drill estimates and increasing our recoverable volumes in Israel by 0.9 Tcf (25 BCM) of gas plus 34 million barrels of light oil or condensate.”

Israel-Egypt gas pipeline deal seen imminent - REUTERS

NOVEMBER 3, 2019 / 11:32 AM
Steven Scheer

JERUSALEM (Reuters) - A deal that would transfer control of a natural gas pipeline between Israel and Egypt is expected to be closed in the next few days, the companies said on Sunday.

Texas-based Noble Energy (NBL.N), Israel’s Delek Drilling (DEDRp.TA) and Egyptian East Gas Co have partnered in a venture called EMED, which last year agreed to buy a 39% stake in the subsea EMG pipeline for $518 million that will carry Israeli gas exports to Egypt.

In a regulatory filing in Tel Aviv, Delek said the shares have already been transferred to the buyers while the funds are currently being held in a trust. It noted that no closing conditions remained.

“Upon the transfer of the full amount of the consideration to the sellers, which is expected to be performed in the coming days, the EMG transaction will be closed in practice,” Delek said.

Botas LNG purchase tender seeks US, Russian supply - OIL & GAS EURASIA

01.NOV.2019

Turkey’s Botas issued a tender to purchase 70 cargoes of LNG (liquefied natural gas) for delivery over 2020-2023, two days after the US lifted sanctions.

The US imposed sanctions earlier in October in response to Turkey’s military offensive in northern Syria. The LNG tender will close on Nov. 8.

Heavily dependent on pipeline gas imports from Russia, Turkey is aiming to reduce Russian imports and diversify its gas sources. It has already reduced flows from Russia’s Gazprom significantly this year, while increasing LNG purchases and gas imports from Azerbaijan.

Botas buys LNG on a long-term basis from Nigeria and Algeria. The contract with Nigeria expires in 2021, while a deal with Algeria’s Sonatrach runs until late 2024. There is also a mid-term contract with Qatargas expiring next year.

The degree to which Turkey will increase its LNG imports depends however on price. The Turkish news site yenisafak.com quoted Danila Bochkarev, a senior fellow at the EastWest Institute, as saying: “LNG should be cheaper than pipeline gas in order to gain an additional share of the Turkish market.”

New setback for plans to import gas - CYPRUS MAIL

November 1, 2019

George Psyllides

The island’s effort to import natural gas to power its electricity grid looked set to delay further on Friday after complications emerged in the tender process for the construction of an LNG import terminal at Vassilikos

The latest obstacle to the effort spanning some 14 years concerns an appeal lodged by a company against a decision to exclude it from the project because of links to an entity implicated in a waste treatment scandal.

Aktor SA is part of a consortium comprising China Petroleum Pipeline Engineering Co Ltd (CPPE), Aktor SA and Metron SA, Hudong-Zhonghua Shipbuilding Co. Ltd and Wilhelmsen Ship Management Ltd that won the tender for the construction of a floating storage regasification unit (FSRU), a jetty for the mooring of the FSRU, pipelines, port and other facilities.

HELPE indicates possible existence of large gas field - KATHIMERINI

THURSDAY OCTOBER 31, 2019 12:48

Chryssa Liaggou

Seismic research conducted by Hellenic Petroleum (HELPE), the country’s biggest oil refiner, has indicated the possibility of the existence of a large reserve of natural gas in Greece, similar to Egypt’s gigantic Zohr gas field in the Eastern Mediterranean.

In a presentation on Wednesday, Yiannis Grigoriou, HELPE’s general manager for exploration and production of hydrocarbons, said that seismic depictions of the Zohr field bear similarities to an area that HELPE is exploring.

He did not reveal which region of the ones HELPE is exploring he was referring to [TEKMOR Note: SW Crete / local sources].

If these indications are confirmed by drilling activities, then the potential quantities may be 280 billion cubic meters, which would be able to cover Greece’s needs for 70 years.

Egypt- BP invests $2.7bn to develop North Alexandria's Giza and Fayoum gas fields - MENAFN / DAILY NEWS EGYPT

OCT/30/2019 8:10:12 PM

(MENAFN - Daily News Egypt) BP has invested $2.7bn to implement the second phase of the North Alexandria's Giza and Fayoum gas fields to produce about 680m cubic feet of gas per day (scf/day) during the last fiscal year.

A source at the Egyptian Natural Gas Holding Company (EGAS) told Daily News Egypt that BP has started the implementation of the third phase of the Raven gas project to bring its total production output to 1.5bn scf/day early 2020.

He explained that the third and final phase of the project involves connecting 850m scf/day from the Raven field in the deep water in the Mediterranean Sea, with an average production rate of 350m scf/day.

A gas processing plant, which will receive the output of Raven field, is under construction, with a capacity of 900m scf/day, he said.

The source pointed out that the natural gas produced from the Raven field has special specifications different from the previous two stages of Libra, Torres, Giza, and Fayoum fields, and the new treatment plant is being built next to Rashid treatment plant.

Egyptian Companies to Return to Libyan E&P Sector - PETROLEUM AFRICA

Tuesday, October 29, 2019

NOC chairman Eng. Mustafa Sanalla met with Egyptian Minister of Petroleum Eng. Tarek El Molla, and senior officials of the Egyptian Ministry of Petroleum, in Cairo on October 27, 2019. The meeting was held to further mutual cooperation between NOC, the Egyptian Ministry of Petroleum, and Egyptian oil companies.

Eng. El Molla stressed the importance of enhancing Libyan-Egyptian mutual cooperation and emphasized Egyptian companies’ aspirations to resume work in Libya. The Minister also confirmed that Egyptian oil companies have been directed by the Ministry to return to doing business and to proceed with currently suspended projects in Libya.

The NOC chairman briefed the Egyptian attendees on NOC’s plans to increase oil and gas production in Libya and invited Egyptian oil companies to contribute to the implementation of these plans both technically and commercially. Sanalla also commended Egyptian state-owned enterprise Petrojet, which previously completed the Wafa oilfield pipeline in western Libya.

EGAS resumes natgas exports to Jordan - ENTERPRISE

Sunday, 27 October 2019

EGAS resumed natural gas exports to Jordan at a rate of 290 mcf/d at the beginning of October, a source from the state-controlled company told the local press. 

The kingdom has been importing variable amounts since we resumed exporting natural gas to Jordan last September under a supply resumption agreement, which provides as much as 10% of Amman’s gas needs.

Libya’s Faregh Field Development Phase 2 to Boost Production - PETROLEUM AFRICA

Saturday, October 26, 2019

The Faregh field development Phase 2 is to boost daily production capacity to a quarter-billion cubic feet of gas and 15,000 barrels of condensates

In an important step toward achieving the production targets of the National Oil Corporation (NOC), Waha Oil Company (WOC) announced the beginning of operating tests of the Phase 2 of the Faregh field development project, starting on Wednesday, October 23, 2019 to pump gas to the Intisar 103 field. At a later date, gas will be shipped to the coastal network, to which the field is connected. This step is a significant achievement of NOC and WOC to serve Libyans and the national economy.

Faregh’s gas will be used to increase the efficiency of crude oil production at the Intisar 103 field and could supply the power plants in the Eastern Region, replacing subsidized liquid fuel, a measure that is both cost-saving and environmentally friendly. The project will also increase gas supply to methanol plants and the Libyan Norwegian Fertilizer Company (LifeCo) in Marsa El Brega.

NOC is awaiting the General Company for Gas Transmission & Distribution’s completion of gas pipeline installations to connect the Faregh field with the Sarir power plant, carried out in collaboration with Petrojet, an Egyptian company.

Eni purchases 70% stake in Habi offshore gas concession - OILFIELD TECHNOLOGY

Friday, 25 October 2019 12:00

As reported by Reuters, Eni has bought 70% of Edison’s stake in Block 12 of the offshore Habi gas concession in Egypt’s eastern Mediterranean, an official at state-owned Egyptian gas company EGAS said yesterday.

Edison won Block 12 in a bidding round run by EGAS in 2015.

From North Sea to Eastern Mediterranean: Collaborating to Maximize the Potential of Hydrocarbon Resources - INTERNATIONAL ASSOCIATION OF OIL & GAS PRODUCERS (IOGP)

24 October 2019

The International Association of Oil & Gas Producers (IOGP), the Cyprus Hydrocarbons Company (CHC), and Member of the European Parliament Costas Mavrides (CY, S&D), under the patronage of the President of Cyprus Nicos Anastasiades and the Ministry of Energy, Commerce and Industry of Cyprus, are pleased to invite you to the Conference “From North Sea to Eastern Mediterranean: Collaborating to Maximize the Potential of Hydrocarbon Resources”.

The aim of the conference is to bring together European National Oil & Gas Associations (NOIAs) and industry experts with policymakers and operators in the Eastern Mediterranean, to share success stories, challenges, and discuss how the right policy framework can help maximize the potential of the region’s oil and gas resources. Panelists will also discuss best practices in Safety, Environmental Permitting and Design Notification.

Cyprus is at the heart of a region experiencing an exciting growth story for producers of natural gas, following significant discoveries in the Eastern Mediterranean waters in recent years. New exploration and production in Cyprus and in the wider region offers strategic benefits – including for climate, energy security and industrial competitiveness – not just in the region but in the EU as a whole.

Egypt exported 172.8 bncf of natgas in FY 2018-2019 via 45 cargos from Idku - ENTERPRISE

Tuesday, 22 October 2019

Egypt exported 45 cargos of natural gas carrying a total of 172.8 bcf from the Idku liquefaction plant in FY2018-2019, according to the Egyptian Natural Gas Holding Company (EGAS). 

Egypt had hoped that returning Idku to full capacity would see exports increase to 1.13 bcf/d, but EGAS canceled several LNG tenders from the facility due to low bids and growing domestic demand. 

Idku’s natural gas exports fell by 80% between August and mid-October.

Shell Egypt to sell assets in Western Desert - REUTERS

October 20, 2019 / 1:55 PM

CAIRO, Oct 20 (Reuters) - Royal Dutch Shell plans to sell its onshore upstream assets in Egypt’s Western Desert to focus on expanding its Egyptian offshore gas exploration, Shell Egypt said on Sunday.

Having won three oil and two gas concessions in Egypt last February, senior executive last week told Reuters that the company would start operating the new areas in the second half of next year.

“We remain committed to Egypt and see our future in supporting the government’s energy hub vision by growing Shell positions across the offshore and LNG value chain,” Wael Sawan, Shell upstream director, said in a statement.

Zohr natgas output to surpass 3 bcf/d this month - ENTERPRISE

Wednesday, 16 October 2019

Zohr natgas production to exceed 3 bcf/d this month: Production from the 13 wells at the giant Zohr natural gas field is expected to surpass 3 bcf/d by the end of October, up from 2.7 bcf/d in August, Eni IEOC JV boss Luca De Caro said on the sidelines of the Mediterranean Offshore Conference in Alexandria, the Oil Ministry said in a statement. Eni originally estimated that production would peak at 2.7 bcf/d, but the ministry said earlier this year that output would rise above 3 bcf/d in 2019.

More wells on the horizon: Eni plans to drill 11 exploration wells in the Nile Delta, Western Desert and the Gulf of Suez regions this year and nine other wells in the coming year, De Caro said. Eni has also been producing 1.2 bcf/d of natural gas from its Nooros gas field since the end of 2017 when the two phases of the project were completed. High profile representatives from BP, Wintershall DEA, Shell and Edison also attended the conference, which kicked off yesterday.

Gas has a future but must cut costs, Cyprus could see delay amid EEZ furore - CYPRUS MAIL

October 13, 2019

Dr Charles Ellinas

DURING this week I participated in three important conferences in London, which covered global gas and LNG developments and markets, including developments around the East Med. The key conference was Oil & Money, addressed by the CEOs of Shell, BP, Total, Saudi Aramco, ADNOC, Qatar Petroleum and the Secretary-General of OPEC.

Bob Dudley, CEO BP, summed up the challenges and opportunities facing natural gas. He said that gas can play a vital role in the transition towards cleaner energy, helping to meet energy demand, but it will need to be decarbonised. However, he also warned that “one of my concerns is that gas is being increasingly marginalised, even vilified, and demonized.”

While gas is cleaner than oil and coal, it is still a fossil fuel and is coming under attack from environmentalists who are calling for a rapid shift to renewable energy to prevent global warming. If the oil and gas industry does not propose and support solutions to climate change, the climate activists will dictate the policies of the future.

ADES Teaming with Vantage Secures Second Deepwater Drilling Campaign in Egypt - ADES INTERNATIONAL HOLDING

London & Dubai, 11 October 2019

ADES International Holding PLC ("ADES" or the "Company"), a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA), is pleased to announce that it has entered, through its subsidiary ADES S.A.E., into a second deepwater drilling campaign with a top tier international oil company, for deepwater drilling services in the Egyptian Mediterranean area. The service will be provided using Vantage's Tungsten Explorer and covers one firm well, "Nigma 1", with the contract estimated to last 73 days.

The services will be subcontracted to ADVantage, a JV between ADES and Vantage Drilling International, leveraging ADES's pre-qualification for operations in the Mediterranean basin. ADVantage utilises ADES's experienced local workforce and Vantage's Tungsten Explorer drillship while combining the companies' extensive deepwater drilling experience.

The contract will operate on a profit-sharing basis, enabling ADES to generate additional revenue without incurring the significant capital expenditures normally associated with deepwater drilling.

Egypt reduces natural gas production amid lower demand - ENTERPRISE

Thursday, 10 October 2019

The Oil Ministry has reduced Egypt’s natural gas production to 6 bcf/d, from 7 bcf/d after lower domestic and international demand resulted in surplus production, an unnamed ministry source told the local press. 

It is expected that the production will gradually rise back to 7.5 bcf/d in this fiscal year.

Turkey’s Mediterranean Gas Plans Draw Fresh Criticism in Egypt - BLOOMBERG

October 8, 2019, 6:02 PM GMT+3Tarek El-Tablawy

Egypt, Cyprus and Greece on Tuesday renewed their condemnation of Turkey’s plans for oil and gas drilling in the eastern Mediterranean, with President Abdel-Fattah El-Sisi saying the move threatens to “destabilize the region.”

The Egyptian leader, speaking at a joint news conference with his Cypriot counterpart and Greece’s prime minister, said such “unilateral” plans could escalate regional tensions.

Cyprus has said Turkey’s exploration plans in the south of the divided island are illegal and a violation of its sovereign rights. Cyprus has an agreement with Total SA and Eni SpA for oil and natural gas exploration rights in Block 7 -- the area where Turkey wants to drill.

The meeting of the three leaders was the latest in a broader push by their countries to boost energy ties in the eastern Mediterranean.

Production at Shell’s Rashid and Burullus fields rises to 290 mcf/d in September - ENTERPRISE

Wednesday, 9 October 2019

Royal Dutch Shell’s natural gas output from the Rashid and West Nile Delta Burullus fields increased to 290 mcf/d in September from 220 mcf/d the previous month, an EGAS source told the local press. 

The company recently linked 80 mcf/d from a newly-developed well to the natural gas grid, offsetting the field’s natural depreciation. 

Shell aims to raise production to 320 mcf/d by the end of the fiscal year, the source said.

United Oil & Gas’ acquisition of Rockhopper Egypt on track to close by 4Q2019 - ENTERPRISE

Tuesday, 8 October 2019

United Oil & Gas’ acquisition of Rockhopper Egypt “progressing well”: Rockhopper Exploration’s sale of its Egypt business to Irish energy company United Oil & Gas is on track to be completed by the end of 4Q2019, Rockhopper said in a statement yesterday. Rockhopper and United had signed a USD 16 mn share purchase agreement in July, which would see the Irish company acquire a non-operating 22% interest in the onshore Abu Sennan oil concession, among other assets. The agreement “will be satisfied” once United makes a cash payment of at least USD 11 mn. BP had previously agreed to provide USD 8 mn to partially fund the acquisition after it entered an offtake agreement for United’s future oil and gas production.