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Egypt to appeal $1.76 billion award to Israel in gas dispute, freeze gas import talks

Posted: December 7, 2015 at 6:13 pm   /   Oil & Gas

Egypt said it would appeal an order by international arbitrators to pay $1.76 billion in compensation to state-owned Israel Electric Corp for halting gas supplies three years ago, and freeze gas import talks until the dispute was resolved. Egypt had been selling natural gas to Israel under a 20-year agreement, but the deal collapsed in […]

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GlobalData: Successful Development of Zohr in Egypt to Catalyze Further East Mediterranean Projects

Posted: December 1, 2015 at 6:37 pm   /   Oil & Gas

Eni is progressing plans to bring the giant Zohr gas field online by 2018. The company’s CEO, Claudio Descalzi, has already presented multi-billion dollar development plans to the president of Egypt Abdel Fattah Al-Sisi, who has agreed to remove any political obstacles to commercializing the field. High profile political challenges have paralyzed other regional projects, […]

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Egypt inaugurates the largest wind farm in the Middle East and North Africa

Posted: November 30, 2015 at 6:05 pm   /   Renewables

By Talita Covre Yesterday Egypt’s Minister of Electricity and Renewable Energy alongside the New  & Renewable Energy Authority inaugurated the 200 MW Gulf of ElZayt Wind Farm on the west bank of the Gulf of Suez, setting a massive precedent for renewable power development in the region. The farm will generate up to 800 GWh, […]

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Drilling activities at Zohr field to re-start in January

Posted: November 30, 2015 at 3:31 pm   /   Oil & Gas

President el-Sisi met in Cairo Eni’s CEO Claudio Descalzi. Mr. Descalzi made an assessment on the work in-progress of the plan for the development of the Zohr field, where drilling activities will restart in January 2016. The President of the Republic of Egypt, Abdel Fattah el-Sisi, met in Cairo Eni’s Chief Executive Officer, Claudio Descalzi. […]

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Letter of Intent to Export Natural Gas from the Leviathan Project for Consumers in Egypt

Posted: November 28, 2015 at 4:08 pm   /   Oil & Gas

Delek Group announced that attached is an Immediate Report just published by Avner Oil Exploration Limited Partnerships and Delek Drilling Limited Partnerships (“the Partnerships”) concerning a Letter of Intent for the export of natural gas from the Leviathan Project to Egyptian consumers. Pursuant to what was stated in section 7.14.2 of the Partnerships’ Periodic Report to […]

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BG Group buys 35% stake in Aphrodite gas discovery, offshore Cyprus

Posted: November 23, 2015 at 6:29 pm   /   Oil & Gas

BG Group announced it has taken a 35% holding in Block 12 offshore Cyprus which includes the Aphrodite gas discovery. This upstream position provides a potential source of gas to Egypt where BG Group holds equity in the two train LNG export facility at Idku as well as LNG offtake rights to lift 3.6 mtpa. […]

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Polarcus awarded broadband 3D project in Egypt

Posted: November 19, 2015 at 7:59 pm   /   Oil & Gas

Polarcus announced that it has signed a contract with an undisclosed client for a 3D marine seismic project offshore Egypt utilizing Polarcus’ RightBAND(TM) technique for broadband data acquisition. The project will commence in Q4 2015 and run for approximately two and a half months. Polarcus is an innovative marine geophysical company with a pioneering environmental […]

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SacOil commences drilling operations at Lagia oil field

Posted: November 16, 2015 at 6:42 pm   /   Oil & Gas

COMMENCEMENT OF DRILLING OPERATIONS AND PROGRESS OF STEAM INJECTION – LAGIA OIL FIELD SacOil, through its subsidiary Mena International Petroleum Company Limited (“Mena”), is pleased to announce it commenced the drilling of the Lagia 11 well on 13 November 2015, at its 100% owned Lagia oil field in Sinai, onshore Egypt.  This forms part of […]

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Eni signs new concession and amendment agreements for petroleum exploration in Egypt

Posted: November 13, 2015 at 2:00 pm   /   Oil & Gas

Eni signed a new concession and three amendment agreements in Egypt which will lead to the realization of projects to be implemented in the next 4 years. Eni signed with the Egyptian Government three amendments for the IEOC concessions of “Sinai 12 and Abu Madi”, “North Port Said” and “Baltim”, which is in partnership with […]

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Anadarko issues statement on offer to acquire Apache Corp

Posted: November 12, 2015 at 7:47 pm   /   Oil & Gas

Anadarko Petroleum Corporation announced the following statement from Chairman, President and CEO Al Walker: “We constantly strive to make Anadarko a better company. As part of these efforts to enhance value, and after extensive analysis of public information, we recently sent Apache Corporation a non-binding offer to acquire the company. The proposed all-stock transaction, which […]

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