Egypt speeds up maritime border negotiations, making way for offshore discoveries
Egypt is speeding up negotiations with neighboring countries to finalize the demarcation of borders in the Mediterranean, which holds huge natural gas reserves compared to the Red Sea. The country has initiated talks with Greece to draw the maritime border, according to local sources. Egypt and Cyprus are also expected to sign the official border agreement […]
Eni: Zohr field will allow Egypt to return to being a net energy exporter
Eni CEO Claudio Descalzi met Egypt’s Prime Minister Sherif Ismail August 1 on the latest leg of his North African tour. Eni said the meeting with Ismail focused primarily on the future of Zohr’s mega offshore gas field and its positive impact on the economy. “With a potential of 850 billion cubic meters of gas […]
BP on track to bring Egypt's Zohr online by end of 2017
BP is on track to start up its Juniper project off Trinidad in the coming weeks, and bring Eni’s Zohr online offshore Egypt by the end of 2017. The supermajor was hopeful in its Q2 2017 earnings call, announcing the possibly of having final investment decisions (FID) for additional projects in Gulf of Mexico, Egypt, […]
Eni’s first half profits soar as Zohr first gas nears
Italian energy company Eni said today that it was on course to meet its exploration target for 2017 and that a lengthy outage of its Val d’Agri field would be offset by efficiency measures and early start-ups on other assets. Eni started production early from three major offshore projects in Angola, Ghana and Indonesia in […]
Egypt targets gas output of 6.2 bcf/d by June 2018
Egypt expects its natural gas production to rise to 6.2 billion cubic feet (bcf) per day by the end of the fiscal year next June from 5.2 bcf/d currently, Petroleum Minister Tarek El Molla told Reuters on Thursday. Once an energy exporter, Egypt became an importer of natural gas after domestic output failed to keep […]
Saipem awarded $900 million offshore EPCI contract for Zohr Ramp Up Phase
Saipem awarded offshore contract variations worth 900 million USD for the Optimised Ramp Up phase of the Zohr Field Development Project. Saipem and Petrobel have finalized offshore contract variations worth 900 million USD for Engineering, Procurement, Construction and Installation (EPCI) activities in relation to the “Optimised Ramp Up” phase of the “supergiant” Zohr Field Development […]
Egypt’s natural gas output expected to rise 50% in 2018 and double by 2020
Three recently discovered major gas fields are expected to raise Egypt’s natural gas output by 50% in 2018 and 100% in 2020, the petroleum ministry said. “The fields of Zohr, North Alexandria and Nooros are among the most important projects that will increase natural gas production … and will contribute to (Egypt’s) natural gas self-sufficiency […]
Saudi Aramco: Technology key to unlocking Red Sea spoils (Upstream)
Saudi Aramco looking to new seismic solutions in exploration drive in deep waters. State-owned Saudi Aramco is hoping that innovative seismic acquisition technology will help the company to successfully explore the geologically complex sub-salt of the ecologically sensitive Red Sea. These innovative technologies for shallow-water seismic surveying included Magseis’ autonomous miniaturised cable nodes, while contractor […]
ADES awarded series of Gulf of Suez drilling contracts by Eni
Drilling and production services provider ADES International Holding Ltd said Monday it has made a series of contract agreements despite a period of oil price decline. The first contract is a new one awarded by Belayim Petroleum Co (Petrobel), a joint venture between Egyptian General Petroleum Corp (EGPC) and ENI IEOC, a subsidiary of Italian […]
Rosneft will export gas from Egypt's Zohr project to Middle East and Europe — source
Rosneft is buying a 30% stake in the project to develop the Shorouk block in Egypt’s offshore zone. Russian top oil producer Rosneft, which is buying a 30% stake in the project to develop the Shorouk block in Egypt’s offshore zone, where the Zohr gas field was discovered, will export gas from it to the […]