Eastern Mediterranean ///
Exploration in western and southern Greece is moving offshore, and the Second Offshore Licensing Round was opened in second-half 2014. Seismic data will improve, as will understanding of this complex region.
Energean plc announced that it has extended its growth drilling program by exercising its options to drill two further wells with Stena Drilling Limited and to provide an update on the initial results of the KM-04 appraisal well.
The Spanish engineering company Saitec has announced its interest in developing a pre-commercial pilot park with 5 units and a total potential of 50MW in the Mediterranean Sea in 2025.
Romania is moving ahead with a plan to unlock stalled natural gas projects in the Black Sea as Europe searches for new energy resources to cut reliance on Russia following its invasion of Ukraine.
The U.S. is backing natural gas and low-carbon power sources as it seeks to improve the eastern Mediterranean’s energy ties to Europe and promote stability in the region.
The partners in the Leviathan and Tamar fields, which sit off Israel’s Mediterranean coast, signed an agreement under which Israel Natural Gas Lines Ltd. will lay a new subsea pipeline and expand some of its existing ones, according to a statement Tuesday from Delek Drilling LP, a shareholder in both reservoirs.
The announcement comes just weeks after the European Union pledged to expand the number of Turkish officials sanctioned over the country’s energy exploration in the disputed waters of the eastern Mediterranean Sea.
This deal, plus more to be announced, target drilling 23 wells in nine regions in the Mediterranean and three regions in the Red Sea, with a minimum total investment seen at $1.4 billion.
The Eastern Mediterranean Gas Conference (EMGC) is gearing up for another must-attend event in Cyprus.
Situated in the Eastern Mediterranean Sea, just south of Turkey, the island nation of Cyprus will once again host the Eastern Mediterranean Gas Conference (EMGC), now in its fifth year.
Alongside its partners, Petoro (30%) and Spirit Energy (20%), Wintershall (50%) announced the start of production at Maria field.
Eastern Mediterranean region are beginning to increase E&P activity and were able to bring several key projects on stream in 2017.
“All of the missiles and drones that came into Saudi are Iranian-manufactured or Iranian-supplied,” Adel Al-Jubeir, minister of state for foreign affairs, said in an interview with Arab News published Friday afternoon. “Several of them, as we’ve said, came from the north; several came from the sea.”
Futures have backtracked since Brent rallied above $71 a barrel and U.S. crude topped $67 earlier this month. China has muted its buying, touching off physical-market weakness in Asia, and a shaky Covid-19 vaccine rollout in parts of the world spells trouble for a complete demand recovery in the short term.
A Libyan ship that sailed from Iran dumped oil into the sea off the coast of Israel in early February, Israel's Minister of Environmental Protection Gila Gamliel told reporters on Wednesday.
The project would be the first of its kind in the Mediterranean, Energean CEO Matthaios Rigas said at a conference Wednesday.
The announcement comes as nations in the eastern Mediterranean ramp up investments in offshore gas fields. Egypt is seeking to become a major hub for exporting LNG to Europe, where demand is growing as governments transition from dirtier fossil fuels such as coal and oil.
Energean sees potential to find about 110 billion cubic meters of gas that it could sell over the next 10-20 years, doubling the company's current reserves in Israel.