Archives for News

Oil Nations Scramble To Beat The Coronavirus

Among the world’s 20 biggest oil-producing countries, there’s only one that has–as far as anyone really knows–escaped the coronavirus, but it’s got problems that are just as big. Taking stock of the pandemic from the perspective of oil-producing nations is important because COVID-19 adds another major layer of uncertainty to the already devastating oil price/market share war between Saudi Arabia and Russia. And while Libya has no “known” cases, and Russia is popping champagne corks over the West’s panic, Iran is reeling under a triple threat, Iraq just had a big operational scare, the UAE is clamping down, and the
Read More

Categories: News.

Energean paves way for East Mediterranean gas monetization

UK-based Energean Oil & Gas — which is building a portfolio of mostly gas-focused Mediterranean assets — is keen to support the realization of more projects to monetize the region’s vast gas resources, its CEO Mathios Rigas said in an interview. Energean plans to start production from its major gas field complex offshore Israel in the first half of 2021, but is set to become a significant regional producer before that with the acquisition of Italy’s Edison E&P, which it hopes to close in the first half of this year. Rigas, while reflecting on the technical and geopolitical challenges of
Read More

Categories: News.

Offshore Oil Rig Infection Exposes Coronavirus Dangers

Equinor reported the oil industry’s first coronavirus infection on an offshore installation on Wednesday, highlighting the challenge in preventing contamination for thousands of workers living in the close quarters on rigs and platforms. A worker was in isolation on the Norwegian energy firm’s Martin Linge oil and gas platform off Norway where production is due to start at the end of this year, the company said. It said it would cut activity at the field, but personnel would remain at installations, while workers would reduce meetings and sit further apart in canteens to prevent further contamination. It has 776 people working
Read More

Categories: News.

Eastern Mediterranean Gas: What Prospects for the New Decade? ISPI Opinion

This Commentary Piece by Simone Tagliapietra was originally published by ISPI (Italian Institute for International Political Studies). The last decade has seen the eastern Mediterranean region become a hotspot of the global natural gas industry, attracting increasing attention from multiple stakeholders also as a result of its high geopolitical stakes. Notwithstanding this momentum, progress has been bumpy. The eastern Mediterranean gas saga started in 2009-2011, with the discovery of the Tamar and Leviathan fields off the shore of Israel and the Aphrodite field off the shore of Cyprus. To exploit this potential, an increasing number of export options were progressively
Read More

Categories: News.

EMC 2020 – POSTPONEMENT ANNOUNCEMENT

Due to the outbreak of COVID-19 across the globe, the EMC Organizers, in agreement with CHC – Cyprus Hydrocarbons Company, hosting partner of the event, have taken the decision of postponing EMC 2020 – The Eastern Mediterranean Energy Conference & Exhibition to 7-9 September 2020, in Nicosia, Cyprus.  Even though EMC 2020 has not suffered any change in terms of either cancellations of participants or interest in the show, we believe that the concerns and difficulties for the people and companies to travel would drastically affect the overall quality of the event.  With these rescheduled dates we are committed to delivering a successful event and platform to provide our participants with the foundations
Read More

Categories: News.

Lebanon to begin offshore oil exploration

The Lebanese Ministry of Energy and Waters announced on Sunday that oil exploration operations will begin on Thursday. The ministry said in a statement that the drilling ship, Tungsten Explorer will dock in Lebanese waters today and start the exploration operations in Block 4. The statement added that after the ship is positioned approximately 21 kilometres from shore, it will begin drilling activities for about 60 days. The first exploratory well will be drilled at a depth of approximately 1.5 kilometres from the sea surface and will be 4.2 kilometres deep. The drilling will last 60 days; while analysis of
Read More

Categories: News.

Lebanon to begin offshore energy drilling

BEIRUT, Feb 26 (Reuters) – Lebanon’s much-delayed search for offshore oil and gas is set to begin on Thursday with the results from its first exploratory well expected in the next two months, the chairman of the Lebanese Petroleum Administration (LPA) said on Wednesday. Lebanon is on the Levant Basin in the eastern Mediterranean, where a number of big sub-sea gas fields have been discovered since 2009, including the Leviathan and Tamar fields located in Israeli waters near the disputed marine border with Lebanon. A consortium of France’s Total, Italy’s Eni and Russia’s Novatek signed an agreement with Lebanon in
Read More

Categories: News.

Lebanon launches oil and gas exploration project

BEIRUT, Feb. 27 (Xinhua) — Lebanese President Michel Aoun on Thursday inaugurated the country’s first offshore oil and gas exploration, the President’s office said in a statement. The Tungsten Explorer vessel is operating in Block 4 of Lebanon’s territorial waters for the drilling project. “We are very happy to launch this project which has been a big dream for the Lebanese. This is a historic moment for Lebanon,” the President said. Meanwhile, Lebanese Prime Minister Hassan Diab said that this is a historic day for Lebanon as it gives the country an opportunity to start a phase where it can
Read More

Categories: News.

Record Egyptian finds but gas glut beckons

Egypt had another successful year in 2019 and this was showcased at the country’s annual petroleum show, EGYPS-2020, held mid-February in Cairo. But 2020 is turning out to be a pivotal, but challenging, year for the oil and natural gas industries worldwide and Egypt and the East Med are not immune to it. Opening the conference, Petroleum Minister Tarek El Molla highlighted the successes of 2019, with the oil and gas sector contributing 25 per cent to Egypt’s gross domestic product. A total of 29 international agreements were signed during EGYPS-2020, reflecting the great potential and promising opportunities of the
Read More

Categories: News.