Eastern Mediterranean ///

Egyptian gas market sees seasonal surplus, says Wood Mac

Egypt's gas market is poised to undergo profound changes in the next five years, and these could have an impact on the global LNG market, seeing Egypt position itself as a prominent seasonal player, research from global natural resources consultancy Wood Mackenzie shows.

Total’s Cyprus Block 11 could rival Egypt’s Zohr discovery, IHS Markit says

Driven by the success of Eni’s major Zohr field gas discovery offshore Egypt in 2015, companies are rethinking the Eastern Mediterranean region’s gas potential, according to new analysis from IHS Markit.

Energean to develop Karish and Tanin gas fields with FPSO program, offshore Israel

Energean Oil & Gas outlined initial details for the development of the Karish and Tanin natural gas fields. At a press conference in Tel Aviv, Energean management announced that the two fields will be developed using a floating production, storage and offloading (FPSO) unit to facilitate the quickest route to producing first gas with the objectives of the government of Israel.

Genie Energy launches drilling services company in Israel

Genie Energy Ltd. has announced that it is establishing Atid Drilling Ltd., an onshore drilling services venture based in Israel.

Energean to develop Karish and Tanin with FPSO, offshore Israel

Energean Oil & Gas has outlined initial details for the development of Karish and Tanin natural gas fields.

Lebanon set to join Eastern Mediterranean oil and gas race

Lebanon approved two measures allowing it to auction its first offshore oil and natural gas rights, ending three years of delays that kept the tiny country from joining a regional race to tap energy wealth in the eastern Mediterranean.

Eni awarded two exploration blocks offshore Cyprus

Eni has been awarded two exploration blocks offshore Cyprus, following a competitive international bid round.

Energean receives approval for acquisition of Karish and Tanin fields in Israel

The Petroleum Council of Israel has announced its approval of the acquisition of 100% of the Karish and Tanin natural gas fields by Energean Oil & Gas from Delek Drilling and Avner.

Zion Oil & Gas receives approval to drill in Israel

While Israel is not able to currently meet their energy needs domestically, few companies are well positioned to take advantage of the demand for energy. One such company is Zion Oil & Gas.

Energean secures exploitation license for West Katakolon, offshore Western Greece

The Greek Ministry of Energy and Energean Oil & Gas, an independent oil and gas E&P company in the Eastern Mediterranean, have agreed the conversion of the exploration license for the proven West Katakolon offshore field to a 25-year exploitation license with immediate effect.

Leviathan field partners clinch $700-million deal

The partners owning rights to Leviathan, Israel’s largest natural gas deposit, signed a $700-million contract to supply gas to Paz Oil Co., as arrangements to finance the project are nearing completion.

Israel gas partners close to $4-billion financing for Leviathan

The companies that own the rights to Israel’s largest natural gas pool are close to securing the $4-billion financing needed to develop the field, according to the CEO of one of the partners.

Jordanians protest against gas deal with Israeli partners

Hundreds of Jordanians took to the streets of Amman on Friday to protest a $10-billion gas deal recently reached between Natural Electric Power Co. (NEPCO) of Jordan and partners in Israel’s Leviathan field.

Israel’s Leviathan partners sign gas export deal with Jordan

Partners in Israel’s Leviathan field, the country’s largest natural gas reservoir, signed an export agreement with Natural Electric Power Co. of Jordan. Tel Aviv gas stocks rose.

Israel announces first offshore energy exploration licensing round, IHS Markit says

The Israeli Ministry of Infrastructures, Energy and Water Resources (MIEWR), the government agency responsible for overseeing all petroleum-related activities in Israel, plans to host a road show in September 2016 for promotion of the country’s first offshore energy licensing round, IHS Energy said today.

Delek Drilling, Avner to sell Karish and Tanin fields to Energean

Delek Drilling and Avner Oil Exploration, part of Israel's leading integrated energy company, have signed a deal for the sale of 100% of their holdings in Karish and Tanin natural gas fields to Energean Oil & Gas.

Noble sells 3% interest in Tamar field, offshore Israel, for $369 million

Noble Energy has signed a definitive agreement to divest a 3% working interest in Tamar field, offshore Israel, to the Harel Group, a leading insurance provider and pension manager in Israel, in partnership with Israel Infrastructure Fund (IIF), Israel's largest infrastructure private equity fund.

New rival seen in Mediterranean gas race ‘before it’s too late’

Lebanon may soon approve measures to push ahead with a stalled first auction of offshore oil and natural gas rights, ending years of political wrangling as it tries to catch up in a regional race to tap energy wealth in the eastern Mediterranean.

Noble to start work to develop Israel’s Leviathan field

The owners of Leviathan, Israel’s largest natural gas field, began moving on development plans delayed for years by political, legal and regulatory wrangling. The companies’ stocks gained as developers reaffirmed that production was on track to begin in 2019.

Noble receives plan of development approval for Israel’s Leviathan field

Noble Energy has received approval from the Petroleum Commissioner in Israel’s Ministry of National Infrastructure, Energy and Water Resources for the development of the Leviathan project.