Noble completes deal with BG for Aphrodite field and announces sale of interests in two licences offshore Israel to Delek

British oil and gas company BG Group has announced today it has taken a 35% holding in Block 12 offshore Cyprus from Noble. Noble Energy has sought approval from the Cypriot government to include Britain’s BG Group in a consortium holding rights over a natural gas field in the eastern Mediterranean the Aphrodite gas discovery, […]

Supergiant gas field discovered in Mediterranean – Italian oil giant Eni says field off Egypt’s coast holds equivalent of 5.5bn barrels of oil

A “supergiant” gas field holding the equivalent of 5.5bn barrels of oil has been discovered off the coast of Egypt, the largest ever find in the Mediterranean. Italian oil group Eni, which announced the discovery on Sunday, said the find was enough to supply Egypt with gas for decades, in a major boost to the […]

Libya’s oil and gas market risk analysis

Libya is reputed to hold the ninth largest proven oil reserves in the world (approximately 38% of Africa’s total proven crude reserves)[1] making it a key player in the global energy market. Since 2011 however, the country and its energy sector has been in turmoil and there are currently two rival governments struggling for control […]

Israel’s Leviathan export options

Last week marked the start of advanced talks between the Leviathan partners and Woodside in sight of the signing of a deal that would allow the Australian giant to purchase 25% of Israel’s giant 19 tcf field for an upward revised price tag. The MOU reflects important changes in comparison to what was originally discussed […]

East Med Gas commercial prospects and more

Exactly what will the Vasilikos LNG terminal mean for Cyprus? That question was answered by Nicos Kouyialis, Minister of Natural Resources and Environment, Cyprus, at the Frankfurt Gas Forum in a session dedicated to the commercial prospects and geopolitical risks of Eastern Mediterranean deep offshore gas. “Of course we’d like to see Cyprus become an […]