Mediterranean News


Delek Sells $2.25B of Bonds to Finance Leviathan Gas Field

Aug 05, 2020

Israel's Delek Drilling said on Wednesday it will pay an average interest of 6.28% in a $2.25 billion international bond offering to help it finance the development of the Leviathan natural gas project off Israel's Mediterranean coast.Following a roadshow…

Egypt Says Turkish Seismic Survey Plans Could Encroach on Its Waters

Aug 03, 2020

Egypt said on Saturday that part of a seismic survey planned by Turkey in the eastern Mediterranean potentially encroached on waters where Cairo claims exclusive rights.An advisory issued last month by Turkey for the survey overlaps with Egypt's exclusive economic zone (EEZ)…

Spain Hopes Turkey Overture on Offshore Drilling Leads to Talks

Jul 28, 2020

Spanish Foreign Minister Arancha Gonzalez Laya said on Tuesday she hopes the will shown by Turkey to open a dialogue on oil drilling in the Eastern Mediterranean will be followed by action.Turkey is at loggerheads with Greece and Cyprus over overlapping claims for offshore reserves…

Spain Sees Thaw in Europe-Turkey Tensions on Mediterranean Offshore Exploration

Jul 28, 2020

Spain's foreign minister said that talks in Turkey on Monday had helped to reduce tensions between some European Union members and Ankara over Turkish energy exploration in the Mediterranean, adding that a one-month pause in drilling was possible…

Delek to Sell $2.25B of Bonds to Finance Leviathan Gas Field

Jul 27, 2020

Israel's Delek Drilling plans to raise $2.25 billion in an international bond offering to help it finance the development of the Leviathan natural gas project off Israel's Mediterranean coast.The issue, expected to be completed in coming weeks…

Israel: Tamar Offshore Gas Field to Start Paying Taxes on Profit in 2021

Jul 23, 2020

Delek Drilling said on Wednesday the partners in the Tamar natural gas site will start paying taxes on profit in early 2021, which could help Israel move forward with plans to create a sovereign wealth fund.Prime Minister Benjamin Netanyahu…

Eni Strikes Gas at Bashrush Well Offshore Egypt

Jul 01, 2020

Italian energy company Eni has made a gas discovery with the first exploration well in the North El Hammad license, waters of the Nile Delta, on the prospect called Bashrush.The new discovery is located in 22 meters of water depth, 11 km from…

Delek Drilling Looks to Refinance $2 Billion in Debt

Jun 29, 2020

Israel's Delek Drilling wants to refinance about $2 billion in loans it had taken to develop the major Leviathan natural gas field either by issuing bonds or through bank finance.The company said in a statement on Monday it approached international…

Energean Power FPSO Topside Installation Work Kicks Off

Jun 08, 2020

Work on Energean's Energean Power FPSO in Singapore has begun as Sembcorp Marine Admiralty Yard, Singapore, reopened on June 2, after the COVID-19 lockdown.The FPSO hull arrived from China in April for topside integration works in Singapore…

Allseas' Solitaire Vessel 'Up and Running' at Karish

Jun 01, 2020

Allseas' Solitaire vessel is 'up and running' with pipelay works on the Karish project in the Mediterranean Sea, offshore Israel, the vessel-owner said Friday.'Over the next few weeks, [Solitaire] will lay 90 km of export gas pipeline in water depths up to 1750 m…

Lebanon Postpones Offshore Licensing Round Again

Jun 01, 2020

Lebanon has again postponed the deadline for the submissions of applications for its second offshore licensing round, citing the effects of the COVID-19 pandemic and the decline in oil prices.Lebanon had in January postponed the deadline from…

Delek Sells Karish and Tanin Fields Rights for $90M

May 25, 2020

Israel's Delek Group said on Monday it agreed to sell its rights to royalties from oil and gas produced at the Karish and Tanin fields, which are held by Energean, for 318 million shekels ($90 million).The sum will be divided between Delek and its subsidiary Delek Energy…

Delek Looking to Sell Karish & Tanin Royalty Rights

May 18, 2020

Israeli energy conglomerate Delek Group said on Sunday it was in talks to sell royalty rights to two small natural gas fields and was amending its proposed share offering.Delek said it planned to sign a 300 million shekel ($85 million) deal…

Greek-Italian JV Seeks Contractors for EastMed Gas Pipeline

May 04, 2020

A joint venture between Greek utility DEPA and Italy's Edison is seeking to shortlist two contractors to build part of a pipeline to carry natural gas from the eastern Mediterranean's rapidly developing gas fields to Europe, DEPA said on Thursday…

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