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Tag: Zohr field

Eni partners for Zohr gas development known this year

Posted: January 20, 2016 at 2:45 pm   /   Oil & Gas

New development partners for Egypt’s mega gas find will be announced this year, according to Italy’s Eni. The company said that it had received interest from “several companies” to help develop the Zohr discovery, which is one of the largest gas finds in the Mediterranean. Fuad Krekshi, Eni executive vice president of the Middle East, […]

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BP remains ambitious on gas in Egypt despite weak oil prices

Posted: January 20, 2016 at 12:43 pm   /   Oil & Gas

Britain’s BP Plc aims to double natural gas production in Egypt in the next four years despite weak oil prices as Egypt’s burgeoning energy market offers hope for its battered economy. Egypt is on a drive to ramp up oil and gas production – aggressively signing exploration contracts, renegotiating production prices, and lobbying companies to […]

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Five year plan for Egypt's oil sector revealed

Posted: January 17, 2016 at 3:36 pm   /   Oil & Gas

During the previous fiscal year (FY) 2014/2015, the oil and gas demand increased by 0.5m tonnes to a total of 73m tonnes. The share of demanded oil was 38m tonnes, of which 36% was fuel oil, 36% was gas oil, 16% gasoline, and 11% LPG. The Egyptian government has been taking several steps to manage […]

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Edison completes seismic mapping of its Mediterranean deep water concession

Posted: January 15, 2016 at 8:48 pm   /   Oil & Gas

Edison has completed the seismic mapping for its concession adjacent to Eni’s supergiant Zohr field, according to an Oil Ministry senior official. The source expects a major discovery in this specific area and an increased number of new discoveries in the Mediterranean in general. The source added that the Zohr field recently discovered by Italian […]

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Production in Zohr fields to begin before end of 2017

Posted: January 6, 2016 at 7:15 pm   /   Oil & Gas

EGPC Chairman: Procedures of establishing Petro Shorouk will begin to manage and develop Zohr field. Petrobel is nearing the official formation of Petro Shorouk, the company’s subsidiary that will be tasked with completing the first developmental phase of the Zohr natural gas field before the end of 2017. The Italian Eni discovered Zohr field in […]

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The Saipem 10000 drillship arrives at Zohr-2 well location

Posted: December 31, 2015 at 3:02 pm   /   Oil & Gas

The giant drilling vessel Saipem 10000 arrived at the site of Zohr-2 well to start drilling operations, announced Eng. Tarek El-Molla, Minister of Petroleum and Mineral Resources. Eng. El-Molla made his announcement as he chaired Petrobel’s General Assembly Meeting. The Saipem 10000 is a 5th generation ultra deepwater drillship, designed and built by Samsung Heavy […]

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Maridive to conduct offshore exploration in the Mediterranean

Posted: December 30, 2015 at 2:33 pm   /   Oil & Gas

Egyptian company Maridive & Oil Services S.A.E. has developed a strategy that targets natural gas exploration in Egyptian territorial waters, including the Mediterranean, according to a company source, who requested anonymity. This comes after the government halted several agreements with a number of international companies following the Zohr discovery, the largest natural gas field found […]

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Cyprus, Egypt, Greece Tripartite Summit Declaration

Posted: December 9, 2015 at 6:58 pm   /   Oil & Gas

A third Trilateral Summit between Greece, Egypt and Cyprus in Athens on Wednesday effectively solidified the foundations of the cooperation between the neighbouring countries in the years to come. “Our 3rd Trilateral Summit underlines our well-established and continuous tripartite partnership aiming at promoting peace, stability, security and prosperity in the Eastern Mediterranean in various fields […]

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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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