Rejecting Egypt route, Cyprus aims to capture more Aphrodite value
Pressure has been growing on the Cypriot government to increase local benefits, particularly given high electricity prices.
Cyprus
Downstream props up TotalEnergies’ profit machine
The French supermajor said it expected to pay $400 million under the UK Energy Profits Levy (EPL) in the fourth quarter, bringing the full-year impact of the windfall tax to an expected $1bn.
Eni scores gas god off Cyprus
The Italian company said it would incorporate the well results into its evaluation of the area. Eni has its eye on a fast-track development in Block 6, it said.
Capricorn faces EGM vote amid Palliser’s merger opposition
Capricorn noted that it had been working on “strategic alternatives” for more than a year. However, there have been no better options, it reported, and a sale is necessary to “maximise shareholder value and the full potential of Capricorn’s assets”.
NewMed signs up to supply Uniper with Israeli LNG
NewMed Energy has signed a non-binding memorandum of understanding (MoU) to supply natural gas, and develop blue hydrogen, for delivery into Europe with Uniper.
Chevron tees up Aphrodite plan, as ministers talk maritime borders
Chevron and partners have signed up to develop the Aphrodite field, offshore Cyprus, with drilling due to start in the first half of 2023, while political talks are continuing.
Cyprus find for Eni, Total, with more drilling to come
Eni (ENI:MI) and TotalEnergies (LON:TTE) have made a major gas find at the Cronos-1 well, in Block 6 off Cyprus.
Should Europe look to the East Med for energy security?
For the first time in decades, we are witnessing an energy crisis the likes of which many of us will have never seen before. Startling levels of volatility across global energy markets are leading governments to implement measures that this time last year would have been unimaginable.
Chevron plans to drill Cyprus well by November
A Chevron team has visited Cyprus today to talk about developing the Aphrodite field, in the island’s exclusive economic zone (EEZ).
Frontline, Euronav tweak terms in tanker tie-up plans
Frontline has struck a deal with Euronav for a potential merger, in an all share offer that would value each Euronav share at around $12.09.
TotalEnergies signs up Tungsten Explorer for West Africa work
Vantage Drilling International has struck a deal to provide its Tungsten Explorer to TotalEnergies for at least 225 days.
Eni spuds Cronos well off Cyprus
Eni and TotalEnergies have begun drilling the Cronos-1 well offshore Cyprus.
Exxon scores more gas offshore Cyprus
ExxonMobil has made a good-quality gas find at its block offshore Cyprus, on the Glaucus-2 well.
Drilling is in, IHS Markit says, as resources rise
The industry drilled more wells in 2021 than 2020, IHS Markit has reported, with notable successes in high impact wells adding new resources.
Exxon wins Cyprus block ahead of drill plan
Cyprus has awarded Block 5 in the island’s offshore to ExxonMobil and QatarEnergy (QE), as drill plans for Block 10 move ahead.
Cyprus restarts drilling push with Exxon, Eni talks
Cypriot President Nikos Anastasiadis has held talks with ExxonMobil ahead of drilling planned for the end of the year.
Saipem teams up with Hyperion in East Med focus
Saipem has established a joint company with Hyperion Systems Engineering, with a focus on the Eastern Mediterranean.
Geopolitics threaten to derail East Med local development plans
Despite discussion around East Mediterranean’s gas having a global impact, it is locally that will be the most important, speakers at a recent event said.
Cyprus, Mexico to lead drilling in 2021
IHS Markit expects companies to drill 38 high impact wells this year.
Turkey calls for Mediterranean gas exploration talks as EU considers sanctions
President Recep Tayyip Erdogan has called for negotiations over gas exploration rights for Turkey in the eastern Mediterranean as EU leaders consider sanctions.
Stena lines up decommissioning work off Israel
Stena Drilling has signed a new contract with Noble Energy for decommissioning work offshore Israel.
Turkey maintains Med stance with seismic move
Turkey’s Oruç Reis seismic ship has returned to port to resupply, the country’s energy ministry has said.
Greece and Turkey willing to enter talks on sea dispute
After weeks of tensions in the eastern Mediterranean, Greece and Turkey have signalled a willingness to start talks aimed at resolving a long-standing sea dispute tied to potentially lucrative offshore gas deposits.
Turkey confronts EU with new energy survey off Cyprus
Turkey has dispatched a drilling ship to an area off the southwestern coast of Cyprus, in a move that could fuel territorial disputes with EU member states in the eastern Mediterranean.
East Med allure launched Chevron’s move on Noble
Noble Energy raised the possibility of selling out to Chevron on May 12. The super-major took only until May 28 to indicate it would be keen for such a deal.