Space Travel News  
OIL AND GAS
Eni gains stronger position in Egypt
by Daniel J. Graeber
Milan, Italy (UPI) Dec 28, 2016


disclaimer: image is for illustration purposes only

Italian energy company Eni said it continued its track record of success in the Mediterranean Sea by securing two new agreements in an Egyptian auction.

Eni secured the bulk of the new exploration and production concessions offered by the Egyptian government during the latest bidding round. Both agreements cover acreage in the shallow waters of the Mediterranean Sea.

Those agreements follow blocks awarded onshore in the Western Desert and in the deep waters of the Mediterranean.

"They strengthen Eni's portfolio and positioning in Egypt, a country of historic and strategic importance, and further confirm the company's commitment to pursue new exploration," the company said in a statement.

Eni serves as the operator of the two fields in partnerships that include British energy company BP and French supermajor Total as minority players. The company offered no reserve estimate for the new concessions, but said it's one of Egypt's top producers with equity production of around 224,000 barrels of oil equivalent per day.

Eni received consent from the Egyptian government to lay the groundwork for developing the field in early 2016. It made its initial gas discovery in the Zohr field in August 2015 and quickly described it as the largest ever made in regional waters and potentially the largest in the world.

A framework deal signed last year called for up to $5 billion in total investments in offshore Egypt.


Comment on this article using your Disqus, Facebook, Google or Twitter login.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
U.S. leaders question need for Strategic Petroleum Reserve
Washington (UPI) Dec 23, 2016
Members of a House energy panel said they wanted a federal investigation into whether or not the nation's Strategic Petroleum Reserve should be maintained. The U.S. Strategic Petroleum Reserve was established in 1975 in response to the oil embargo enacted by Arab members of the Organization of Petroleum Exporting Countries. With a design capacity of more than 720 million barrels, it's t ... read more


OIL AND GAS
Russia to face strong competition from China in space launch market

Vega And Gokturk-1A are present for next Arianespace lightweight mission

Antares Rides Again

Four Galileo satellites are "topped off" for Arianespace's milestone Ariane 5 launch from the Spaceport

OIL AND GAS
All eyes on Trump over Mars

Opportunity performs several drives to ancient gully

Full go-ahead for building ExoMars 2020

Skimming an alien atmosphere

OIL AND GAS
Lunar sonic booms

India Inc joins hands to bid for moon mission

TeamIndus signs contract with ISRO for lunar mission

Moonwalker Buzz Aldrin stable after South Pole health scare

OIL AND GAS
Juno Captures Jupiter 'Pearl'

Juno Mission Prepares for December 11 Jupiter Flyby

Research Offers Clues About the Timing of Jupiter's Formation

New Perspective on How Pluto's "Icy Heart" Came to Be

OIL AND GAS
Exciting new creatures discovered on ocean floor

New species found near ocean floor hot springs

Carbonaceous chondrites shed light on the origins of life in the universe

Atlas of the RNA universe takes shape

OIL AND GAS
Ultra-Cold Storage - Liquid Hydrogen may be Fuel of the Future

NASA Engineers Test Combustion Chamber to Advance 3-D Printed Rocket Engine Design

Technical glitch postpones NASA satellite launch

After glitch, NASA satellite launch set for Wednesday

OIL AND GAS
Chinese missile giant seeks 20% of a satellite market

China-made satellites in high demand

Space exploration plans unveiled

China launches 4th data relay satellite

OIL AND GAS
Studies refute hypothesis on what caused abrupt climate change thousands of years ago

Rosetta's last words: science descending to a comet

Ceres: Water ice in eternal polar night

Where is the Ice on Ceres









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.