Posts by EmcUK

Israel to rethink deal with UAE to transport oil to Europe

Israel‘s government is rethinking a pipeline agreement with the United Arab Emirates to transport oil from the Gulf to Europe, after outcry from environmental groups. In October, the Israeli state-owned Eilat Ashkelon Pipeline Company (EAPC) signed a memorandum of understanding with MED-RED Land Bridge, a company with Israeli and Emirati owners in Abu Dhabi. To continue reading click here
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Categories: News.

Can AI work in oil and gas without historical data?

In some countries in the Middle East, the oil and gas (O&G) sector contributes as much as 90 per cent to gross domestic product (GDP). Despite the global push towards sustainability and renewable energy, oil is still an incredibly important part of the region’s economy. Yet despite this, the level of “disruption” and engagement with startups in this vast sector has been limited when compared to sectors like retail or food and beverage (F&B). This is mainly due to how heavily regulated the sector is, the high levels of sensitivity of industrial information coupled with increasing restrictions on data-sharing. This
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Categories: News.

East Med energy: re-assessing common interests

In the East Med we have been side-tracked by the fallacious promise or expectation of riches to come out of exploiting the newly discovered hydrocarbon resources. We can rediscover our common interests only after a reality check on the actual potential of these resources. As long as politicians and people in the region believe that – despite their massive cuts in spending and the massive pressure on them due to climate change – the international oil companies will just come, develop and export these resources, making everybody rich in the process, common interests disappear and disputes and conflict become the
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Categories: News.

Renewable Power Projects Overtake Oil & Gas In Middle East

Countries in the Middle East and North Africa (MENA) awarded as much as US$2.8 billion worth of renewable energy projects in the first half of 2021, compared to not a single contract award for oil- or gas-fueled power stations in the region, MEED Insight’s new report Middle East Energy Transition showed. To compare, the average value of contract awards for oil- or gas-powered stations stood at $4.8 billion annually between 2017 and 2020, according to the report. Last year alone, $6.2 billion worth of oil and gas power plant contracts were awarded. This year, the focus is on emission reductions
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Categories: News.

Huge gas find boosts egypt

The discovery last month of a vast natural gas deposit offshore Egypt is a potential game changer for the country’s ailing energy sector. Italian oil and gas firm ENI confirmed the find of an estimated 30 trillion cubic feet (850 billion cubic metres) spread over an area of around 100 km2 under deep water. The Zohr field is the largest ever discovery of natural gas in the Mediterranean Sea and could be sufficient to supply the Egyptian market for decades to come, ENI CEO Claudio Descalzi said after announcing the find. To continue reading click here
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Categories: News.

Cyprus and Lebanon sign MoU for oil and gas cooperation

Cyprus and Lebanon signed an MoU agreement for cooperation in the oil and gas sector on Friday during a visit by the neighbouring country’s Defence Minister and Deputy Prime Minister, Zeina Akar. The Memorandum of Understanding on Cooperation in the Energy Sector was signed by Akar and Foreign Minister Nikos Christodoulides. The MoU establishes the general framework for the enhancement of cooperation between the competent ministries of the two countries, an official announcement said. To continue reading click here
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Categories: News.

Press Release – The Ministry of Agriculture, Rural Development and Environment confirm partnership with EMC – the Eastern Mediterranean Energy conference and exhibition.

The Ministry of Agriculture, Rural Development and Environment confirm partnership with EMC – the Eastern Mediterranean Energy conference and exhibition.   Professor Costas Kadis, Minister of Agriculture, Rural Development and the Environment, will deliver the Opening Keynote Welcome Address at the Plenary Session on November 11 2021.   Nicosia, Cyprus – June 28, 2021 – EMC, the Eastern Mediterranean Energy conference and exhibition taking place in Nicosia, Cyprus, from 10 to 12 November, 2021, has confirmed that Costas Kadis, Minister of Agriculture, Rural Development and the Environment, will deliver the Opening Keynote Welcome Address at the Plenary Session on the
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Categories: clients and News.

Gas drilling to resume later this year says Pilides

US oil major Exxon Mobil will resume offshore drilling for natural gas later this year, Energy Minister Natasa Pilides revealed on Tuesday. She said the drilling would take place around November to December. Speaking to reporters after attending a session of the House energy and commerce committee, Pilides said Exxon will return to block 10 of Cyprus’ exclusive economic zone. The contract with the rig has already been signed, while the government is in the process of issuing the necessary permits – a routine procedure.   Click here to continue reading the original article
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Categories: News.

MEPs urged to end gas-funding, fix cross-border projects rules

EU member states have decided to extend subsidies for some cross-border natural gas projects until the end of 2027 – a delay criticised by green groups as a major policy “loophole”, incompatible with the bloc’s climate targets. The so-called TEN-E regulation determines which cross-border energy infrastructure projects in the EU are eligible for public funds and fast-tracked permits, under the “Projects of Common Interest” (PCI). Last year, the European Commission proposed a revision of the TEN-E rules, excluding dedicated support for oil and gas infrastructure – in a bid to align a key piece of energy policy with the Green Deal. To
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Categories: News.