Egypt's Sisi to fly to Nicosia Monday for tripartite summit with Cyprus, Greece - AHRAM ONLINE

SISI, TSIPRAS, ANASTASIADES, DECEMBER 2015,ATHENS

Friday 17 Nov 2017

President Abdel-Fattah El-Sisi is set to fly to Cyprus on Monday to participate in a tripartite summit between the two states and Greece.

State agency MENA said the upcoming summit would include talks on coordinating stances, as well as boosting cooperation between the three countries as regards politics, economics and trade, security, and tourism.

The meetings will also include discussions on regional issues, including the Syrian and Libyan crises, and combating terrorism and extremism.

The upcoming tripartite meeting will be the fifth such meeting between El-Sisi, Cypriot President Nicos Anastasiades, and Greek Prime Minister Alexis Tsipras in recent years.

ADES wins contract for ADMARINE III jackup with Egypt's GPC - WORLD OIL

11/16/2017

LONDON -- ADES International Holding Ltd., the London-listed company providing offshore and onshore oil and gas drilling and production services in the Middle East and Africa through its subsidiaries, is pleased to announce that it has been awarded a new contract for its ADMARINE III offshore jackup rig.

The contract was awarded by General Petroleum Company (GPC), the first national oil company in Egypt. The contract entails an initial two-year engagement of ADMARINE III with an option to extend for a further two-years. No significant additional capex is anticipated for the ongoing deployment of the rig.

Maridive & Oil Services wins $20m contract to provide services at Zohr - ENERGY EGYPT

November 16, 2017

Maridive & Oil Services signed a USD 20 million agreement with an unnamed Egyptian company to lease three maritime units to provide maritime and oil services at the Zohr gas field, Al Mal reports.

Maridive & Oil Services (MOIL) announced in a statement sent to EGX, maritime support sector has won a new contract with one of its clients in Egypt worth $20 million.

The deal encompasses leasing 3 maritime units to present maritime petroleum service in Zohr field in North Delta.

The Company said the contract would be signed by the end of the current year for 3 years, adding the total signed contracts of the company are amounting to $370 million from 2017 till 2019.

ADES, Vantage Drilling form JV to provide deepwater drilling services in Egypt - WORLD OIL

11/15/2017

LONDON and DUBAI -- ADES International Holding Ltd., the London-listed company providing offshore and onshore oil and gas drilling and production services in the Middle East and Africa through its subsidiaries, has announced that its subsidiary ADES S.A.E has entered into a long-term joint venture (JV) agreement with a subsidiary of Vantage Drilling International (Vantage).

The new JV company will leverage Vantage’s world-class offshore deepwater drilling experience and ADES International’s leadership position within the Egyptian offshore drilling market to provide deepwater drilling services in Egypt’s Mediterranean basin.

The agreement will enable ADES to generate additional revenue without incurring the significant capital expenditure associated with deepwater drilling. As part of the JV, Vantage will gain access to the attractive Mediterranean basin, optimize access to local workforces and service providers and increase the marketability of its ultra-deepwater fleet.

Eni's Giant Gas Field Prompts Egypt to End Imports in 2018 - BLOOMBERG

November 15, 2017, 9:52 AM GMT+2Salma El Wardany — With assistance by Hussein Slim, Fatma Abusief, and Tracy Alloway

• Zohr field will start production at 350,000 cubic feet a day
• New gas laws to be adopted in days: Oil Minister El-Molla

Egypt's El-Molla on Zohr Gas Field, Attracting Investors

Egypt will stop importing liquefied natural gas in 2018 and may eventually export gas after it starts producing this year at the giant Eni SpA-operated Zohr field off the country’s Mediterranean coast, Oil Minister Tarek El-Molla said.

Zohr’s output will mostly supply the domestic market, and the nation’s two existing gas-liquefaction facilities are large enough to process any available surplus into LNG for international sale in 2019, El-Molla said Tuesday in an interview in Abu Dhabi. If Zohr and other gas fields generate enough supplies, Egypt may consider adding a third LNG-exporting terminal, he said.

Russia's Rosneft says to invest over $2 bln in Egypt's Zohr in 2018-2021 - REUTERS

NOVEMBER 14, 2017 / 2:29 PMReporting by Polina Devitt; writing by Vladimir Soldatkin; Editing by Christian Lowe

MOSCOW - Russia’s largest oil producer Rosneft will invest more than $2 billion in Egypt’s Zohr gas field in the next four years, the company said in a presentation on Tuesday.

It also said the production plateau at the field, where Rosneft may increase its stake to 35 percent, is seen at 29 billion cubic metres of gas a year. 

Gov’t will only approve gas imports from Israel after disputes are resolved -El Molla - ENTERPRISE

Tuesday, 14 November 2017

The government will not issue permits to companies to import natural gas from Israel until the arbitration cases between Egypt and Israel are resolved, Oil Minister Tarek El Molla said, according to Reuters. The government will sign off on agreements to import from our eastern neighbor only once the disputes are resolved and under the condition that the agreements “add value,” El Molla say. “Delegations [from Israel] are healthy as it means there are discussions and negotiations, but they have to meet the conditions put by the government as that is only fair,” he says. “In 2015, the International Chamber of Commerce ordered Egypt to pay USD 2 bn in compensation after [an agreement] to export gas to Israel via pipeline collapsed in 2012 due to attacks by insurgents in Egypt’s Sinai peninsula,” the newswire notes.

El Sokhna Refinery secures USD 1.4 bn in funding for its refinery - ENTERPRISE

Sunday, 12 November 2017

Soukhna (El Sokhna) Refinery & Petrochemicals has secured USD 1.4 bn in funding for phase one of its refinery plant from an unnamed consortium of European and Chinese lenders, company sources tell AMAY. 

The funding will cover the development of 85% of phase one, and the company plans to finance the rest through loans from local banks.

Fuel subsidy spending rises 68% y-o-y in 1Q2017-18, El Molla says - ENTERPRISE

Sunday, 12 November 2017

Fuel subsidy costs rose 68% y-o-y to EGP 23.5 bn in 1Q2017-18, up from EGP 14 bn in the same quarter of the previous fiscal year, Oil Minister Tarek El Molla told reporters yesterday, Reuters reports. The minister reaffirmed that the government would not raise fuel subsidies again during this fiscal year, but said gasoline subsidies will be lifted altogether within five to ten years; some form of subsidy will remain in place for diesel fuel and gas cylinders, according to Ahram Online. The partial lifting of fuel subsidies since November 2016 has trimmed EGP 4 bn off the state’s expenditures this year, El Molla says. As we noted previously, the government is projecting that spending on fuel subsidies this fiscal year will record EGP 110 bn.

Court orders East Mediterranean Gas Company to pay $174 mln in debt to Egypt's National Bank- AHRAM ONLINE

Sunday 12 Nov 2017

El-Sayed Gamal El-Din

Egypt's Court of Cassation has rejected an appeal by the East Mediterranean Gas Company against a 2016 ruling obliging the company to pay off $174 million in debt to Egypt's National Bank.

The company was founded and previously headed by Mubarak-era business tycoon Hussein Salem.

The court did, however, accept an appeal by Egypt Insurance Company, which was also involved in the case.

Egypt signs $2.4 mln oil and gas deal with Trident Petroleum - AMWAL AL GHAD

Saturday, 11 November 2017 15:48

Mahmoud Shaaban

Egypt signed Saturday a new oil agreement with Trident Petroleum to explore oil and natural gas in the Gulf of Suez worth at least $2.4 billion worth at least $2.4 million.

The agreement was signed by Egypt’s Petroleum Minister Tarek el-Molla, Egyptian General Petroleum Corporation’s (EGPC) chairman Abed Ezz el-Regal and Trident’s president Ehab Awad.

The agreed investments included a signature bonus of $500,000 to drill four exploration wells in Magawish Block in the Gulf of Suez.

Once an energy exporter, Egypt has turned into a net importer because of declining oil and gas production and increasing consumption. It is trying to speed up production at recent discoveries to fill its energy gap as soon as possible.

Egypt, Cyprus probe capitalizing on Mediterranean Hydrocarbon wealth - STATE INFORMATION SERVICE EGYPT

Friday، 10 November 2017 - 01:15 PM

Petroleum Minister Tarek el Mulla received on Friday 10/11/2017 a Cypriot delegation comprising Cyprus Hydrocarbons Company Executive Manager Demetris Fessas along with the company’s Commercial Director Andreas Koutsoulides.

The meeting falls within the framework of the ongoing consultations and negotiations regarding capitalizing on the Hydrocarbon wealth of the Mediterranean.

Minister Mulla underscored the depth of historic relations between the two countries that witnessed a notable development recently, especially in the domains of natural gas excavation in eastern the Mediterranean.

The Cypriot delegation, for its part, expressed readiness for further cooperation with Egypt in this promising sphere.

Washington is eager to see US exporters succeed in marketing LNG from the United States - NEW EUROPE

NOVEMBER 10, 2017, 19:59
Kostis Geropoulos

PIRAEUS, Greece – Greece’s position as an energy hub that can help the European Union increase its energy security and diversification of supplies, reducing reliance on Russia were highlighted by Commission Vice President for Energy Union Maroš Šefčovič and US Ambassador to Athens Geoffrey Pyatt.

At the Greek Energy Forum at Greece’s biggest port on November 10, the US Ambassador emphasised “the enduring and critically important partnership between the United States in working to advance our shared goals of European energy security”.

“Over the past few years, the United States has made it a priority to work with our European partners and with Greece in particular to develop secure supplies of energy in this region through diversification of energy sources,” Pyatt said.

Libya's new power plant to cut Sharara oil exports by 50,000 bpd - HYDROCARBON PROCESSING / REUTERS

NOV/10/2017

Reporting by Ahmad Ghaddar Editing by David Evans, Greg Mahlich

LONDON (Reuters) — Libya’s new Ubari gas-fired power station will initially run on up to 50,000 bpd of Sharara crude oil when it starts up in around two weeks, slashing exports from Libya’s biggest oilfield, a Libyan oil industry source said on Thursday.

The plant, if it starts on time, will initially consume 30,000 bpd of crude oil before ramping up to around 50,000 bpd, he said, declining to be identified because he is not authorized to speak to the media.

Libya will consider running the plant on feedstock other than crude in the future, as the country faces a severe shortage of electricity especially during peak winter demand, the source said.

Production at Sharara is stabilizing at around 300,000 bpd and the OPEC member’s National Oil Corp is trying to restore production to its full capacity of 340,000 bpd, another Libyan oil industry source said last week.

Egyptian Refining Co.’s $3.7 Billion Plant Will Start Up in September - BLOOMBERG

November 9, 2017, 2:34 PM GMT+2Mirette Magdy

• Plant will pare country’s need for imported fuel: Chairman
• Refinery is part of plan to raise local processing capacity

Egyptian Refining Co.’s new $3.7 billion processing plant will begin operations in September and save the government some $300 million a year by reducing the country’s reliance on imported fuel, its chairman said.

Ahmed Heikal, who is also chairman of investment company Qalaa Holding, a 19 percent shareholder in the project, said construction of the refinery will be completed in June, with operations to begin in September. The Cairo facility will ramp up output to 98 percent of capacity by the end of 2018.

BP’s Atoll field is 93% complete, production on track by year’s end - ENERGY EGYPT

November 9, 2017

BP will launch production at the USD 3.8 bilion Atoll field in the North Damietta concession ahead of schedule by the end of the year, said Hassan Abady, Chairman BP JV Pharaonic Oil Company, Al Ahram reports. Development of the field is 93% complete, including the drilling of three deepwater wells 950 meters below the water’s surface. The field is expected to produce 300 mcf/d and 8k bbl/d once online.

BP’s Atoll field is 93% complete

Development works of British Petroleum’s (BP) Atoll Phase One project is 93 percent complete, head of BP’s joint venture Pharaonic Petroleum Company, Hassan Abady said Wednesday.

Total Acquires Engie’s Upstream LNG Business and Becomes the Second Largest Global LNG Player - BUSINESS WIRE

November 08, 2017 12:28 PM Eastern Standard Time

PARIS

Total (Paris:FP) (LSE:TTA) (NYSE:TOT) has signed an agreement with Engie to acquire its portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.49 billion. This portfolio includes participating interests in liquefaction plants, notably the interest in the Cameron LNG project in the US, long term LNG sales and purchase agreements, an LNG tanker fleet as well as access to regasification capacities in Europe. Additional payments of up to $ 550 million could be payable by Total in case of an improvement in the oil markets in the coming years.

“The acquisition of Engie’s upstream LNG business enables Total to accelerate the implementation of its strategy to integrate along the full gas value chain, in an LNG market growing strongly at 5% to 6% per year. The combination of these two complementary portfolios will allow the Group to manage an overall volume of around 40 million tonnes of LNG per year by 2020, making Total the second largest global player among the majors with a worldwide market share of 10%,” commented Patrick Pouyanné, Chairman & Chief Executive Officer of Total. “With the equity stake in the Cameron LNG project, Total will also become an integrated player in the US LNG market, where the Group is already a gas producer.”

West Nile Delta Phase 2 gas fields to produce 500-700 mmcf/d by 2018 - ENERGY EGYPT / ENTERPRISE / MUBASHER

November 8, 2017

The Oil Ministry is expecting the West Nile Delta (WND) gas fields – Giza and Fayoum – to produce 500-700 mmcf/d (TEKMOR Note: approx 0,2 tcf per year) when they come online by the end of 2018, the ministry said in a statement.

More West Nile Delta gas fields to begin production late 2018

The Egyptian minister of petroleum said that natural gas production from the second phase of the West Nile Delta (WND) project will begin by the end of 2018.

Tarek El Molla added that fields including Giza and Fayoum will have a production capacity ranging between 500 and 700 million cubic feet per day (mmcf/d).

Production is set to reach 1.6 billion cubic feet per day, with a 70-kilometer pipeline currently under construction.

It was previously reported that the fields are expected to cover around 25% of Egypt’s gas demand upon completion.

According to Al Ahram, gas extraction from the West Nile Delta fields is carried out in cooperation with British Petroleum (BP) and Germany’s DEA group.

A Fast-Approaching Future - ABO

Nov, 08 2017
Giancarlo Strocchia

Interview with Tarek El-Molla, Egypt's Minister of Petroleum and Mineral Resources. Thanks to major gas discoveries in the Mediterranean and a vast infrastructure upgrade plan for its crude oil conversion system, Egypt has the opportunity to become a regional energy hub and reach its goal of energy self-sufficiency by 2018

Cordiality and firmness. In the eyes and words of Tarek El-Molla, Egypt’s Minister of Petroleum and Mineral Resources, the country is using all of its willpower to take full advantage, now and in the coming years, of the opportunities offered by its domestic energy industry. Huge gas discoveries in the eastern part of the Mediterranean have led to broad ambitions for the entire sector, and those ambitions are manifest in specific, innovative projects. Moreover, the recent doubling of the Suez Canal has, for Cairo, been another launchpad to project the country towards a future of sought-after and necessary growth. El-Molla is fully aware of the potential offered by these developments and intends to focus his efforts toward taking full advantage of them.

Cyprus, Greece and Israel strengthen defence cooperation - CYPRUS MAIL

November 7, 2017

Jean Christou

The defence ministers of Cyprus, Greece and Israel met in Athens on Tuesday to discuss strengthening cooperation to promote security, stability and peace in the Eastern Mediterranean.

Defence Minister Christoforos Fokaides, after attending the first tripartite meeting with his counterparts, said: “Our vision is to gradually turn the wider region from a conflict zone to an area of peace, stability and cooperation.

“The path we embarked on today will prove particularly beneficial for our three countries and will highlight the fact that threats and tension have no place in this region today.”

According to Fokaides, the only path is that of “cooperation, good-neighbourly relations and mutual trust”.

Report: Total, Eni to drill in new exploration block off Cyprus - SEEKING ALPHA

Nov. 7, 2017 1:47 PM ET

Carl Surran

Total (TOT -0.2%) and Eni (E +0.7%) plan to jointly drill an exploration well off Cyprus by the end of this year or early next year, the country's president told France's Le Figaro.

Pres. Anastasiades says he met with Patrick Pouyanne over the weekend, with the TOT CEO telling him the two companies would move ahead with plans to drill in Block 6 despite disappointing drilling results from Block 11.

The two companies each hold 50% stakes in Block 6 with Eni the operator, while both hold 50% of Block 11 with TOT the operator.

Striking Politics When Drilling For Gas In Mediterranean - WORLDCRUNCH / LES ECHOS

2017-NOVEMBER-06
Anne Feitz

-Analysis-

PARIS — Drilling operations have begun off the coast of Cyprus despite Ankara's threats against the Cypriot government. And for French oil and gas multinational Total and its Italian partner, ENI, hopes for a huge payout are running high. As IHS Markit reported earlier this year, the "Onisiforos" operation, as it's known, is expected to be "one of the most critical wells drilled globally in 2017."

It will be several months before Total and ENI have a clear picture of what exactly the Onisiforos well will turn up. But they have reason to be optimistic given other recent natural gas discoveries in the area. Egypt's Zohr gas field, thought to be the biggest gas discovery in the Mediterranean, is only six kilometers away.

Israeli Natural Gas Cartel Seeking Testimony From Top Treasury Officials About Gas Deal - HAARETZ

Nov 06, 2017 4:36 AMIdo Baum 
Noble Energy fighting class action suit over gas prices agreed between cartel and Israel Electric Corporation

One of the partners in the Tamar natural gas field cartel, Noble Energy, is seeking to subpoena three senior Israeli government officials to testify in Central District Court for a hearing over a class action suit against the cartel.

The officials are Shaul Meridor – the outgoing director general of the Energy Ministry – who was chosen to head the Finance Ministry’s budget division; Udi Adiri, the outgoing deputy head of the budget division, who is slated to switch places with Meridor and be the next director general of the Energy Ministry; and Morris Dorfman, who was deputy head of the National Economic Council and now serves as head of the Health Ministry’s regulatory division.

All three played key roles in putting together the framework agreement two years ago.

According to the subpoena request filed last week, cartel officials believe these witnesses can shed light on the fact that the natural gas price in Israel was set under Israel’s authority.

Egypt to award 12-cargo LNG tender to Gas Natural Fenosa, Swiss traders -trade sources - REUTERS

NOVEMBER 6, 2017 / 6:29 PMReporting by Oleg Vukmanovic; Editing by Susan Fenton

LONDON, Nov 6 (Reuters) - Egypt is expected to award its 12-cargo liquefied natural gas (LNG) tender to Spain’s Gas Natural Fenosa and three Swiss-based trading houses for supplies in the first quarter of 2018, trade sources said.

The final allocation may change but traders currently expect Egyptian Natural Gas Holding (EGAS) to award the Spanish gas company five shipments, trader Trafigura to supply three, Vitol three and Glencore one.

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. 

Jordan refiner lets contract for expansion project - OIL & GAS JOURNAL

HOUSTON, Nov. 1, 2017
Robert Brelsford

Jordan Petroleum Refinery Co. Ltd. (JPRC), the sole refining company of Jordan, has let a contract to KBR Inc. to provide basic engineering for a residue hydroprocessing unit to be built as part of the proposed expansion of its 100,000-b/d refinery at Zarqa, 35 km east of Amman.

KBR’s scope of work will include delivery of the basic design package for the unit, which will be based on its proprietary Veba Combi-Cracking (VCC) slurry phase hydrocracking technology to enable the refinery to process a wider range of feedstocks and produce fuels meeting environmental specifications without further upgrading, the service provider said.

The unit will be at the core of the refinery’s proposed fourth expansion project, which aims to increase crude processing capacity at the site to 120,000 b/d, KBR said.

This latest contract follows JPRC’s previous selection of KBR to deliver licensing of its VCC technology for the project.

While KBR disclosed neither values nor durations of either of its contracts with JPRC, the service company did confirm revenues associated with the project will be booked into backlog of unfilled orders for its technology and consulting business segment in this year’s fourth quarter.

ExxonMobil delegation in Egypt to discuss possible projects - ENTERPRISE

Sunday, 5 November 2017

A delegation from ExxonMobil reportedly arrived in Egypt to discuss possible oil and gas projects within the next 5-7 years, an Oil Ministry source says, Youm7 reports. 

The delegation met with officials from the EGPC, EGAS, and the Ganoub El Wadi Petroleum Holding Company. 

Total to begin operations soon in block 6 of Cyprus’ EEZ - CYPRUS MAIL

November 5, 2017

French energy giant Total will soon begin operating in block 6 of Cyprus` Exclusive Economic Zone (EEZ) it was announced on Sunday evening after a meeting President Nicos Anastasiades had in Paris with the company`s Chairman and CEO Patrick Pouyanne and Vice President of the Middle East and North Africa division Elias Kassis.

Present at the meeting was Government Spokesman Nicos Christodoulides, who is accompanying Anastasiades, on his working visit to France. On Monday Anastasiades will meet with his French counterpart Emmanuel Macron.

According to an announcement issued by the presidency, in statements after the meeting, Christodoulides said that “it was a very constructive meeting during which the activities of the company in Cyprus were discussed, as a result of a recent drilling and future company plans in cooperation with the Italian ENI.”

Cyprus: The new energy gate of Europe - CYPRUS MAIL

November 5, 2017Charlies Ellinas

The government is giving priority to the exploration and exploitation of hydrocarbons and the development of energy
CYPRUS: The new energy gate of Europe was the title of the 5th Energy Symposium organised by IENE and Financial Media Way (FMW), held in Nicosia on November 1.

Costis Stambolis, executive director of IENE, opening the Symposium praised Cyprus on the achievements of its exploration programme. He added that Cyprus has the potential to play a key role in Europe’s energy and that energy could also be key to the solution of the Cyprus problem.

The Symposium was addressed by President Anastasiades, Demetris Syllouris, Nicos Kouyalis, Giorgos Lakkotrypis and Fidias Pilides. Greek energy minister Giorgos Stathakis also sent a message. The key highlights from these presentations were:

New project in Egypt - BONATTI GROUP

04/NOV/2017

Bonatti Group has been awarded an electrical and instrumentation contract for the development of Zohr, the supergiant gas field discovered in 2015 in Egyptian offshore.

The scope of work is focused on onshore area and includes the key services, materials and equipment required for the safe installation of the project’s onshore electrical, cable, instrumentation, telecommunication and fire and gas equipment.

Such acquisition follows the one awarded by Bechtel to Bonatti’s subsidiary Carlo Gavazzi Egypt in July and confirms the capabilities and the strategic role of the company in the North-African area.

Bonatti Group has a longstanding presence in the country Egypt, with a qualified network of manpower (99% Egyptian nationality) that has worked on projects in the country for decades.

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.