Wednesday, November 22, 2017

Parliament approves extending SUMED work for 27 years - DAILY NEWS EGYPT

November 20, 2017 
Mohamed Farag
Company executes oil projects with investments of $415m

The Energy and Environment Committee of the House of Representatives, headed by MP Talaat Al-Suwaidi, approved on Sunday a draft law of the government to extend the term of the Arab Petroleum Pipelines Company (SUMED).

Hisham Lutfi, representative of the Ministry of Petroleum, said that the company has established a port for liquefied natural gas vessels in Ain Sokhna, in the context of maintaining relations with investors.

During the meeting, Al-Suwaidi said that under the proposed draft law, SUMED’s terms are lengthened by 27 years, starting from the end of the term in Law No. 10 for 1992.

Cyprus, Egypt to start work on agreement to construct gas pipe - XINHUA

2017-11-21 00:27:20
Mu Xuequan

NICOSIA, Nov. 20 (Xinhua) -- Cyprus and Egypt have agreed to start discussions in December on an agreement to build a gas pipe from a Cypriot natural gas field to take gas to Egypt, Cypriot state radio reported on Monday.

It said the agreement came during talks when Egypt's President Abdel Fattah al-Sisi made an official visit to Cyprus on Monday.

The gas pipe will make use of an already existing pipe system from depleted Egyptian gas fields to liquefaction plants at Idku and Damietta.

State radio also reported that a four-party meeting of Cyprus, Greece, Egypt and Italy will be held on early December to sign a memorandum of understanding for building a gas pipe from gas fields in the eastern Mediterranean to Italy via Cyprus and Greece, a project supported by the European Union.

SDX announces completing a number of projects in Egypt in 3Q2017, attributes rise in profit to Circle Oil acquisition - ENTERPRISE

Wednesday, 22 November 2017

SDX Energy announced completing a number of projects in Egypt during 3Q2017. The company concluded a twelve-well program at North West Gemsa, which should allow it to achieve its 5,000 boepd target for the year, in addition to finalizing the expansion of a processing facility at its Meseda project by increasing treatment capacity to 20,000 bfpd from 10,000. In South Disouq, SDX is in talks with Natural Gas Holding Company to drill an additional two wells and add 10 km of pipe to the main export line, which it hopes to complete in 1H2018. SDX has also completed development plans for its South Ramadan concession and should begin moving forward on the project soon. The company attributed the rise in its 3Q2017 net revenues to USD 10.1 mn, from USD 2.9 mn in 3Q2016 to “the acquisition of the Egyptian and Moroccan businesses of Circle Oil” in January this year.

Tuesday, November 21, 2017

Egypt, Cyprus and Greece: Consolidating a Mediterranean alliance - AL AHRAM

Dina Ezzat , Monday 20 Nov 2017

“We cannot be exploring the potential fields without reaching an agreement on the demarcation with Greece,” explained an Egyptian official.

President Abdel-Fattah El-Sisi is expected to arrive Monday afternoon in Cyprus' capital Nicosia for talks with his counterpart Nicos Anastasiades.

During his visit to Egypt’s northern Mediterranean neighbour, El-Sisi is also expected to meet with Alexis Tsipras, the prime minister of Greece, considered in Egyptian diplomacy circles as one of the closest possible allies of Egypt in the European Union and in the Mediterranean zone.

The three leaders of Egypt, Cyprus and Greece were expected to hold a three-way summit to discuss their planned two-path cooperation: energy and security.

A top issue for the Egyptian president in Nicosia is the conclusion of a process to define maritime borders between Egypt and Greece. According to Egyptian and Greek sources, this process was launched a few years ago with firm support form both El-Sisi and Tsipras, who both wish to see this demarcation as a beginning for the full exploitation of the eastern Mediterranean's natural gas reserves.

Egypt, Cyprus agree in to build natural gas pipeline, connect electricity grids - ENTERPRISE

Sisi, Anastasiades, Tsipras, Nicosia, 21 Nov 2017
Tuesday, 21 November 2017

Egypt and Cyprus agreed to begin talks in December on a natural gas pipelineconnecting the two countries, Xinhua reports, citing Cypriot state radio. The new connection will use an existing pipeline connecting “depleted Egyptian gas fields to liquefaction plants at Idku and Damietta.” Egypt will also be inking an agreement with Greece, Cyprus, and Italy in early December over an EU-sponsored gas pipeline connecting eastern Mediterranean fields to Italy via Cyprus and Greece, according to the radio report. “These gas discoveries can contribute to the European continent’s search for alternative energy sources, taking advantage of the position of Egypt and Cyprus,” President Abdel Fattah El-Sisi said after talks with his Cypriot counterpart President Nicos Anastasiades in Cyprus yesterday, the Associated Press reports.

The Electricity Ministry is also conducting a feasibility study on linking the electricity grids of Egypt, Cyprus and Greece, chairman of the Egyptian Electricity Holding Company (EEHC) Gaber El Desouki said on Monday. He added that the project (in the same vein as the Egypt-Saudi electricity grid interconnection project) would become part of a larger power linkage project between Europe and Africa, the local press reports.

Monday, November 20, 2017

Two new FSRU facilities to be launched in Turkey - ANADOLU AGENCY

Ebru Şengül

Ankara - Two new Floating Storage Regasification Units (FSRU) will be put into operation in Turkey, one in Hatay/Dortyol in southern Turkey and the other in Saros Bay on the Gallipoli peninsula in the northwest, Turkey's Energy and Natural Resources Minister Berat Albayrak said on Monday.

Speaking at the Turkish Grand National Assembly [Parliament] Plan and Budget Commission, Albayrak said the Hatay FSRU will have a regasification capacity of 29 million cubic meters (mcm) per day and will become operational by the end of the year.

Turkey's natural gas storage capacity will rise to 10 billion cubic meters (bcm), or equal to 20 percent of annual natural gas consumption, he said.

Egypt Says Gas Discoveries Can Be EU's New Energy Source - NEW YORK TIMES

Sissi hosted by Anastasiades, Nicosia, 20-11-2017
NOV. 20, 2017, 8:27 A.M. E.S.T.

NICOSIA, Cyprus — Newly discovered gas deposits in the eastern Mediterranean can offer Europe the alternative sources of energy that it's searching for, Egypt's president said Monday.

President Abdel-Fattah el-Sissi said that Europe can take advantage of the proximity of both Egypt and Cyprus to the continent in that energy search.

"These gas discoveries can contribute to the European continent's search for alternative energy sources, taking advantage of the position of Egypt and Cyprus," El-Sissi said after talks with his Cypriot counterpart.

Cyprus President Nicos Anastasiades said his country will promote closer relations between Egypt and the European Union, calling Egypt an "absolutely necessary strategic partner" for the 28-member bloc on issues like energy, migration and combating extremism.

Is the World Bank telling us to get a sovereign wealth fund of our own? - ENTERPRISE / AL AHRAM

Monday, 20 November 2017

Is the World Bank telling us to get a sovereign wealth fund of our own? World Bank Group Senior Vice President Mahmoud Mohieldin reportedly suggested that it “was imperative” for Egypt to benefit from the revenues of the Zohr gasfield by establishing a sovereign wealth fund, Al Ahram reports. Mohieldin’s comments came at an AmCham talk held yesterday. Last we heard on the Ismail cabinet’s plans to form such a fund was in November of last year, with the economic group approving the drafting of a law to establish a EGP 5 bn sovereign fund dubbed Amlak. Ashraf Al Araby, the planning minister at the time, had even narrowed down the sectors the fund would be investing in, including industry, agriculture, mining, and tourism. Al Araby had been the sole voice behind the move, and we haven’t heard peep about it since he was replaced in the last cabinet shuffle.

Sunday, November 19, 2017

Investors to discuss solution for rising natural gas bills for industry with MPs on Tuesday - ENTERPRISE

Gas tanks at Suez city north of Cairo. (Reuters)
Sunday, 19 November 2017

Industrialists to discuss rising natural gas bills with House on Tuesday: A delegation from the Union of Egyptian Investors Association (UEIA) will meet with the House of Representatives’ Industry Committee on Tuesday to discuss challenges they’re facing due to rising natural gas bills, UEIA boss ad Oriental Weavers founder Mohamed Farid Khamis said on Thursday, Al Shorouk reports

Natural gas supply has been interrupted at a number of factories that fell behind on bill payments, which they say they are unable to make, Khamis said. We had heard last week that the House was looking into repricing gas for industry and canceling real estate taxes on factories following complaints from industry figures. Egypt’s manufacturing sector has been pushing for years to lower gas prices, but officials had hinted in August that it was unlikely the Ismail Cabinet would follow through on the decision.

Fugro deploys vessel for coring at Zohr - ENTERPRISE / OFFSHORE MAGAZINE

Sunday, 19 November 2017

Geotechnical and survey services provider Fugro is sending its vessel MV Kobi Ruegg on it first project in the Egyptian sector of the Mediterranean, Offshore Magazine reports

“The three-year-old, 58-m (190-ft) long vessel, contracted by Saipem, will deploy a large diameter piston core system to obtain soil samples from the ultra-deepwater Zohr gas field. 

Its next assignments will be geophysical surveys for Pico and Shell… From its new home port of Abu Qir, it will undertake marine site characterization services for Fugro’s clients in the Eastern Mediterranean and Red Sea.” 

The values of the contracts were not disclosed.

Friday, November 17, 2017

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

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.

Thursday, November 16, 2017

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


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.

Wednesday, November 15, 2017

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


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+2
Salma 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.

Tuesday, November 14, 2017

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.

Sunday, November 12, 2017

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.

Saturday, November 11, 2017

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.

Friday, November 10, 2017

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

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.

Thursday, November 9, 2017

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.

Wednesday, November 8, 2017

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

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.

Tuesday, November 7, 2017

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.

Monday, November 6, 2017

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

Anne Feitz


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 PM
Reporting 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. 

Sunday, November 5, 2017

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.