Regional Report: Eastern Mediterranean ///

What a difference a giant discovery makes. Eni’s 30-Tcf discovery offshore Egypt has given an electric jolt to government officials in Israel to entangle Noble Energy from regulatory hurdles and begin the development of its 22-Tcf Leviathan field, allowing the Jewish state to place the first stake in the Eastern Mediterranean gas export market. Noble also has filed a development plan for Aphrodite field in Block 12, offshore Cyprus, and brought in the BG Group as a partner. Meanwhile, Greece has received three bids in response to its international licensing round. It remains to be seen how low oil and gas prices will impact E&P activity in the Eastern Mediterranean. Here’s a country-by-country report on recent exploration, field development and production operations in this region of significant growth potential.

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