Oil major BP has posted a replacement cost loss of US$485 million in Q1 2016, compared with a profit of $2.1 billion a year ago, as it battles the continuing low oil prices. Yet, the firm is set to see production levels lifted as a string of new projects come onstream through 2016-2017…
Italian explorer Eni hopes to start production from the giant Zohr gas field offshore Egypt by the end of 2017, after being approved to take over the development lease from Egypt's national Natural Gas Holding Company (EGAS). Zohr, described as Egypt's largest gas field to date…
Heather Saucier examines the geology of the Mediterranean and North African region, and assesses where more discoveries could be made. The location of four assessment units in the Nile Delta Basin Province in the Eastern Mediterranean…
Subsea 7 has won an engineering, procurement, installation and pre-commissioning contract on BP's deepwater West Nile Delta project, offshore Egypt. The contract covers the subsea infrastructure for 12 wells on the Giza, Fayoum and Raven…
Italian oil major Eni has completed its first appraisal well on the giant Zohr gas discovery in the deep water Shorouk block offshore Egypt. The firm, which is now preparing for a well test, says the latest well on Zohr confirms the Zohr…
OneSubsea was awarded a contract from BP Exploration (Delta) and partner DEA (Deutsche Erdoel AG), to supply subsea production systems for the West Nile Delta Giza/Fayoum and Raven fields, situated offshore Egypt. The scope of supply…
The first production test at Eni’s Zohr 2X appraisal well delivered some 44 MMcf/d of gas, offshore Egypt. Eni CEO Claudio Descalzi. Image from Eni. The Zohr 2X well, Eni’s first appraisal well on its giant Zohr discovery…
Gas production has started from the Zora gas field offshore the United Arab Emirates (UAE), according to operator Dana Gas. The project, using a fixed wellhead platform, started on 14 January, with sales gas produced by 28 February due…
BP has reported a 91% drop in Q4 2015 earnings, revealing the impact of the lowest oil prices in more than a decade on the business, and says oil prices look set to 'continue to be challenging in the near term.' The firm's full year underlying profit was a loss of $5…
Subsea 7 inked a contract estimated to be between US$50 million to $150 million with Burullus Gas Co. for the platform extension and tie-in on the first phase of BP's West Nile Delta development of the Taurus and Libra fields, offshore Egypt…
BP Egypt has completed its acquisition of 22.75% in the North Alexandria Concession and 2.75% in the West Mediterranean Deep Water Concession from Hamburg-based DEA Deutsche Erdoel. The acquisition will bring BP’s working interest in both concessions of the West Nile Delta project to 82…
Petroceltic has opted to exit stakes in Greece and Egypt, following an announcement by the company's board that it has initiated a formal strategtic review of its business and assets due to breaching debt repayment obligations. In the 23 December announcement…
The Delek Group and its Leviathan partners are setting the record straight by refuting recent media reports regarding Leviathan’s development field plan. Map of Leviathan. From Noble Energy. Media…
Polarcus has announced it has signed a contract with an undisclosed client for a 3D marine seismic project offshore Egypt utilizing Polarcus' RightBAND technique for broadband data acquisition. The project will commence in Q4 2015 and run for approximately two and a half months.
Italian giant Eni and the Egyptian Government entered into an agreement for three amendments for the IEOC concessions, both onshore and offshore Egypt that will see the Italian giant make an additional investment of more than US$2 billion in the next four years…
Subscribe
