Eni announces a new oil and gas discovery in the Western Desert of Egypt

In the last three years, in the Western Desert of Egypt Eni has doubled its oil production through exploration of deep sequences.

San Donato Milanese, 22 January 2015 – Eni has announced a new discovery of oil and gas in the West Melehia deep exploration prospect, located in the Melehia licence, in the Western Desert of Egypt, 300 square kilometers west of Alexandria.

The exploration well, which allowed the discovery of Melehia West Deep 1X, was drilled to a depth of 4,175 meters, meeting a 20 meters net mineralized accumulation of light oil in the Lower Cretaceous age of the Alam El Bueib formation. The well also encountered a significant mineralized accumulation of gas and condensates in the Upper Jurassic age in the Safa formation.

The well began production with an initial flow of 2,100 barrels of oil per day (40 ° API),  intended for the Melehia field infrastructure treatment. … Continue Reading

Four new LNG carriers to feature Wärtsilä’s LNG reliquefaction and gas handling systems

A series of four LNG carriers being built by the Hudong-Zhongua Shipbuilding yard in China will feature Wärtsilä LNG reliquefaction plants and gas handling systems. The ships are owned by Bermuda based Teekay Corporation, China LNG Shipping (CLNG), CNOOC Energy Technology Co of China, and BW Gas of Norway. The contracts with Wärtsilä were issued by Hudong-Zhonghua Shipbuilding and were signed during the fourth quarter.

The award of these contracts is a significant breakthrough into the Chinese market for Wärtsilä LNG reliquefaction plants and gas handling systems for LNG carriers, while at the same time emphasising the company’s position as the market leader in supplying these solutions.

The Wärtsilä solutions will provide the owners with both economic and technical benefits. The reliquefaction plant will reliquefy 70% of the boil-off gas from the ships’ LNG cargo and return it to the cargo tanks, while the balance is fed by the gas handling system to the engines for propulsion purposes. … Continue Reading

Gazprom Marketing & Trading Singapore and Yamal Trade sign long-term contract for LNG supply

Gazprom Marketing & Trading Singapore, company of Gazprom Group and Yamal Trade signed a long-term sales and purchase contract for liquefied natural gas (LNG) from the Yamal LNG project.
The contract that will be effective for over 20 years provides for the annual supply of 2.9 million tons of LNG that will be delivered to the Asia-Pacific markets, mostly to India. The contract price will be determined using the formula with oil indexation.

Background:

Yamal LNG is running an LNG plant construction project with an annual capacity of 16.5 million tons, with gas resources to be supplied from the Yuzhno-Tambeyskoye field. The start of LNG production is scheduled for 2017.
Yamal Trade is a wholly-owned subsidiary of Yamal LNG.
Gazprom Marketing & Trading Singapore is engaged in LNG trade, marine transportation and marketing.

Eni signed a Concession Agreement for a new exploration block in the Western Desert of Egypt

Eni signed a new Concession Agreement to operate in the South-West Melehia block in the Western Desert of Egypt, following the Egyptian General Petroleum Corporation (EGPC) 2013 international competitive bid round.

South-West Melehia is operated by Eni through its subsidiary IEOC, which holds a 100% stake. The block covers an area of 2,058 square kilometers and is located immediately south of Melehia license, operated by Agiba, a joint venture of IEOC and EGPC which manages Eni’s operations in the Western Desert.

This new acquisition adds to the list of exploration successes achieved in the area over the past two years and further strengthen Eni’s position in Egypt, an area of historic and strategic importance for the Company.

Eni has been present in Egypt since 1954 and is the main producer of oil in the country, with an equity of approximately 210,000 boed.