Lebanon signs exploration agreement for two East Mediterranean blocks

Adding to the company’s Mediterranean operations in Cyprus and Egypt, Total SA has signed exploration and production agreements for Blocks 4 and 9 offshore Lebanon. The consortium includes Total as operator (40%), Eni SPA (40%), OAO Novatek (20%). Source: News

Scotland gets onshore licensing authority

Onshore oil and gas licensing in Scotland is now the responsibility of the Scottish government. Transfer of the function from the UK Oil & Gas Authority occurred under the Scotland Act of 2016, enacted after Scottish voters defeated an independence referendum in 2014. Source: News

Eni discovers Zohr-like gas column offshore Cyprus

Eni SPA is assessing the range of gas volumes in place but has said Calypso 1 NFW exploration well has discovered a “Zohr-like” gas play on Block 6 offshore Cyprus. The well, which was drilled in 2,074 m of water to a final depth of 3,872 m, encountered an extended gas column in Miocene and […]

MARKET WATCH: Crude oil prices drop on volatile equity markets

Light, sweet crude oil prices for March delivery dropped modestly to settle above $61/bbl on Feb. 8 on the New York market while Brent crude oil for April delivery also dropped modestly to settle above $64/bbl on the London market. Source: News

Improved infrastructure key to US energy dominance, Senate panel told

The US energy transportation system already is one of the world’s best, witnesses told the US Senate Energy and Natural Resources Committee. But it won’t help reach the Trump administration’s goal of achieving global energy dominance without more cooperation between state and federal agencies in issuing permits for projects, they warned during a Feb. 8 […]