Large upstream projects are more often delivered by a group of partners rather than a single 100% owner. This spreads project risks and can also make it possible to finance megaprojects, which could be beyond the capacity of any single player…
Israel's Delek Group has made a US$524 million offer for UK independent explorer and producer Ithaca Energy. The offer, a 12% premium on Ithaca's last closing price on the Toronto Stock Exchange, would see Delek take over Ithaca's UK North Sea portfolio…
Offshore exploration could, finally, soon be on the agenda in Lebanon after the country's first offshore licensing round was opened. Lebanon’s Energy Minister Cesar Abi Khalil announced on 26 January the opening and timetable for the round…
Partners in the Leviathan field offshore Israel have secured US$1.5-1.75 billion funding towards the field development project. Delek Drilling and Avner Oil Exploration secured the cash from HSBC Bank and J.P. Morgan. It will be released in tranches…
Israel is eyeing both future energy independence and potential export markets with the launch of its first-ever offshore licensing round. Audrey Leon reports. Image from iStock. Tiny Israel has big dreams of a gas-based economy…
Energean Oil & Gas is planning to develop the Israeli Tanin and Karish gas and condensate fields using a floating production solution, the firm announced in a press conference today. Energean says it will submit a formal field development plan (FDP) for both fields…
Energean has closed its deal with Delek Group, Avner Oil Exploration, and Delek Drilling for 100% stake in the I/16 Tanin and I/17 Karish leases, offshore Israel, paving the way for Energean to stick to its plan of first oil at the two fields in 2020…
As OE takes a look back on the year that was 2016, our website's most popular stories pretty much tell everything you need to know. It has been a depressing year for the industry with too many job cut announcements, rigs and vessel stacked (or sold)…
Noble Energy's long-term plans has cut 60 jobs from its workforce, with 55 of them in Houston, and lays out plans for its offshore assets in the Eastern Mediterranean. Tamar operations, image from Delek…
Greece-based explorer Energean Oil & Gas said it is planning to achieve first gas from the Tanin and Karish fields offshore Israel by 2020. The firm, in which the Petroleum Council of Israel has approved its US$148 million acquisition of 100% of the two fields…
Noble Energy is expecting the final investment decision (FID) for its giant Leviathan development offshore Israel by year-end or early next year, the Houston-based explorer said in its Q3 2016 earnings call. The Noble Sam Croft…
Israel's Minister of Energy has opened the country's first offshore bid round covering 24 areas in the Levant Basin, with some located close to existing major gas discoveries. The discovery of giant gas fields in the Levant Basin, offshore…
Wood Group Mustang has been chosen by the Leviathan partners to provide the front-end engineering and design (FEED) work for the Leviathan project’s production platform in a US$120 million deal. Image from Wood Group Mustang Twitter…
Israel’s Ministry of Infrastructures, Energy and Water Resources (MIEWR) will hold the country’s first offshore energy licensing round in November, offering two dozen blocks in the Eastern Mediterranean Sea, according to IHS Energy. The Tamar platform…
Noble Energy has received approval to move forward with the development of Leviathan, offshore Israel, in addition to inking a US$2.5 billion deal to supply up to 473 Bcf from the highly anticipated project. Image from Delek…
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