Eastern Mediterranean

Arcius’ remit covers the Shorouk concession, home to the Zohr gas field whose production decline has been fueled by a lack of investment.

While projects offshore Cyprus and Israel advance, Lebanon’s latest licensing round follows news that Eni, TotalEnergies, and QatarEnergy drilled a dry hole on Block 9 near the country’s maritime border with Israel.

Lebanon hopes to join the club of EastMed gas producers as TotalEnergies and its partners spud an appraisal well near Beirut’s maritime border with Israel where gas is already being produced.

The 5-year contract with global ROV equipment and services provider ROVOP supports Energean’s field development within the wider Katlan area adjacent to Israel’s Karish gas field.

The proposed transaction also would be the first step in establishing a joint venture between BP and ADNOC.

QatarEnergy’s acquisition of a 30% interest in E&P blocks offshore Lebanon with TotalEnergies and Eni expands the company’s East Med portfolio while enabling the Emirate to help mediate Beirut’s longstanding political and economic crisis.

The results of well testing at Zeus-1 are being combined with results of testing at two other discoveries to create a plan for the fast-track development of the offshore block.

Boosting gas production from Israel’s Tamar offshore gas field, combined with gas from the neighboring Leviathan field, will further the ambitions of both Israel and Egypt in the Eastern Mediterranean.

NewMed’s planned merger with Capricorn Energy may benefit the Israeli company’s Moroccan offshore activities considering that Capricorn had explored the same area in its previous business incarnation.

Egypt bags its newest wind project with UAE to feed future electrical flows regionally and eventually to Europe.