WorldOil EIA: Offshore discoveries in the Mediterranean to increase Egypt’s gas output Natural gas production in Egypt has been in decline, falling from a 2009 peak of 5.8 Bcfd to 3.9 Bcfd in 2016, based on estimates in BP’s Statistical Review of World Energy. The startup of a number of natural gas development projects located offshore in the eastern Mediterranean Sea near Egypt’s northern coast has significantly altered the outlook for the region’s natural gas markets. Eni recieves lease extension for key assets in Egyptian Nile Delta, Western Desert Eni announces that Egyptian Authorities have authorized a new Nile Delta Concession Agreement, allowing a 10-year extension of the Abu Madi West Development Lease (203 km2), where Nooros field is located, and the execution of further exploration activities within El Qar’a Exploration Lease (64 km2). Eni granted new exploration license offshore Egypt Eni announced that a new Concession Agreement, aimed at governing an offshore exploration license in the prolific East Nile Delta basin of the Mediterranean Sea, has received approval by Egyptian authorities. Petrofac awarded Basra Oil Company EPC contract Petrofac has been awarded a contract worth around $370 million by Basra Oil Company (BOC) for expansion of the Central Processing Facility (CPF), located in Majnoon field, Southern Iraq. U.S.-Iran sanctions give China lead in world's top gas field China National Petroleum Corp. is expected to take the lead on a $5-billion project to develop Iran’s share of the world’s biggest gas deposit, taking over from France’s Total SA, which halted operations after U.S. President Donald Trump reimposed sanctions on the Islamic Republic. U.S. forecasts 50%-cut in Iran oil sales, missing goal The Trump administration forecasts that it will persuade countries to cut Iranian oil imports by as much as 1 MMbpd when it reimposes energy sanctions in early November, according to two people familiar with the administration’s efforts to choke off Tehran’s crude sales. Taqa's earnings growth accelerates following oil-price recovery Abu Dhabi National Energy Co. reported an almost fivefold jump in profit after crude prices climbed. Iran's reliance on its own oil tankers grows, even as flows slump It is still nearly three months until U.S. sanctions on Iran’s oil exports snap back into force, but they are already having a big impact on the Persian Gulf country’s trade. Delek, Noble and Egypt said to put final touches on gas deal The companies developing Israel’s largest natural gas fields and their Egyptian partner have finalized details of a deal that would give them control over a pipeline to Egypt, according to people familiar with the matter, a crucial step that would pave the way for a $15-billion export contract. Sparrows Group granted commercial registration to operate in Saudi Arabia Global specialist equipment and integrated engineering services company, Sparrows Group, has made a significant development in Saudi Arabia after being granted commercial registration to operate in the Kingdom.