Mediterranean's Levant Basin to be explored by Total, Eni, Exxon Mobil and Qatar Petroleum

20/03/2017 11:32 Natural Gas



France's Total, Italy's Eni, Exxon Mobil and Qatar Petroleum received the green light from Cyprus's lawmakers to explore for oil and gas the offshore areas south of the island.



The exploration of the Mediterranean's Levant Basin became interesting since the 2015 when Eni discovered the biggest gas field in the Mediterranean, estimated to hold 850 billion cubic meters of gas.


The Cypriot concessions cover exploration rights for three offshore blocks off the south and southwestern coast and contracts would be inked on April 5 and 6 this year.


Eni and Total have joined forces for one of the blocks and ExxonMobil and Qatar have teamed up for another. Eni will be on its own in a third block.


Total, which was awarded another block in a previous licensing round, planned to conduct drilling this year in Block 11, which borders the Zohr discovery.


The Italian Eni projected to drill twice during this year, but concrete details would be released after a seismic analysis, according to Cypriot Energy Minister Georgios Lakkotrypis.




Nord Stream 2 inked financial deals with Shell and four other European energy companies

25/04/2017 11:33:00

Nord Stream 2, the company in charge with planning, constructing and future operation of the Nord Stream 2 pipeline, inked financial deals with Shell and four other European energy firms - ENGIE, OMV, Uniper and Wintershall.


UK - first coal-power free day in over a century, according to National Grid

24/04/2017 16:29:00

Britain is set for its first day without electricity production from coal-fired power stations since the country's industrial revolution in the 19th century, as stated by power grid operator National Grid on Friday.


Russia: Novatek will increase gas resources to preserve output, stabilize market share

24/04/2017 11:09:00

Novatek, Russia's biggest non-state natural gas producer, is seeking to increase its resource base to keep gas production and maintain stable its domestic market share, as stated on Friday by Leonid Mikhelson, the manager of the company.