Cyprus News

 

Egypt Eyes German FLNG Unit to Ramp Up Production

Mar 12, 2025

Egypt, which has struggled with declining domestic gas production, plans to lease a German floating gas liquefaction unit, the Egyptian petroleum ministry said in a statement on Tuesday.Egypt, the most populous Arab country, has been seeking to ramp up production at its giant Zohr offshore gas field, in a bid to cover rising domestic demand during the summer heat.Zohr's operator Eni ENI.MI has resumed…

Fugro Lands Deepwater Gas Job for Eni off Cyprus

Jun 26, 2025

Fugro has been awarded a contract to run a comprehensive site characterization program for an Eni-operated deepwater gas development in the Eastern Mediterranean.The award marks an important survey campaign for Fugro in the region, supporting…

SeaBird Exploration Rebrands to SED Energy Holdings

Jun 19, 2025

Norwegian marine seismic survey services firm Seabird Exploration has changed its name to SED Energy Holdings (Energy Holdings), following the merger with Energy Drilling.Effective from June 20, 2025, the name will be changed along with the ticker code to ENH…

TotalEnergies, Eni Eye 2026 FID for Gas Project off Cyprus

May 01, 2025

A final investment decision on TotalEnergies' new Cyprus gas project could come in 2026, CEO Patrick Pouyanne told analysts on Wednesday, with deliveries expected in 2028 or 2029.The French oil major is developing Block 6 at the Cronos gas field in a 50-50 joint venture with Italy's Eni…

ExxonMobil Drill Offshore Cyprus Fails to Find Gas in Commercial Amounts

Apr 14, 2025

An exploration drill by ExxonMobil offshore Cyprus has failed to find commercial quantities of natural gas, the island's energy ministry said on Monday.Drilling operations had been completed at the Elektra-1 well in Block 5 of the exclusive economic zone (EEZ) of Cyprus…

Eni to Invest $26 Billion in North Africa

Apr 08, 2025

Italian energy group Eni will invest around 24 billion euros ($26.24 billion) in Algeria, Libya and Egypt over the next four years to help boost energy production, CEO Claudio Descalzi said on Tuesday.The investments would coincide with the…

Israel Issues Offshore Licenses to BP, Socar and NewMed for Gas Exploration

Mar 17, 2025

Israel awarded licences to BP, Azeri national oil firm Socar and local company NewMed Energy NWMDp.TA on Monday to explore for natural gas in Israeli waters as the country seeks to boost domestic gas reserves and expand exports.In 2023 the trio…

Abu Dhabi’s TAQA Looks into Cyprus Interconnector Project

Feb 27, 2025

Cyprus's Energy Minister, George Papanastasiou, said on Thursday that Abu Dhabi's TAQA is interested in investing in and supporting the delivery of an electricity connection project the country is developing.The project is the Great Sea Interconnector…

Transocean Barents Gearing Up for Drilling Job in Romanian Black Sea

Feb 25, 2025

On a frigid morning on the Black Sea the sun is glaring into the quiet navigation room of the massive semi-submersible drilling rig Transocean Barents, anchored in Romania's Constanta port.In a matter of weeks, the rig - known as the Mighty…

Chevron-Led Group, Egypt’s EGAS In Talks for Gas Export Offshore Cyprus

Feb 18, 2025

Chevron-led consortium, in charge of the development of Aphrodite field offshore Cyprus, has signed a non-binding memorandum of understanding (MoU) with the Egyptian national gas company EGAS for the export of gas from the field to Egypt.The MoU was signed by Chevron-led consortium…

Eni Agrees Gas Export Offshore Cyprus via Egypt’s Existing Infrastructure

Feb 17, 2025

Italian energy major Eni has signed an agreement with Egypt and Cyprus for the development and export of Cyprus Block 6 gas through Egypt’s existing infrastructure.The agreement outlines a comprehensive framework enabling a rapid development of the Cronos gas discovery offshore Cyprus…

Cyprus Approves Updated Plan for Aphrodite Gas Field Development

Feb 17, 2025

The Cypriot government has approved the updated plan for the Aphrodite gas field, filed by Chevron-led consortium, which will see the construction of a floating production unit (FPU) and a pipeline for exporting gas to Egypt.Following Cypriot government’s approval of the plan…

ExxonMobil Kicks Off Exploration Drilling Off Cyprus

Jan 24, 2025

ExxonMobil and Qatar Energy on Friday began exploratory drilling for natural gas in a prospect west of Cyprus, Cyprus President Nikos Christodoulides said on X.The east Mediterranean has yielded some major gas discoveries in recent years, and…

The Five Trends Driving Offshore Oil & Gas in 2025

Dec 23, 2024

[1] Flat Outlook for Global Spend … but … Aadvantaged Projects Attract CapitalWith concerns of a softening oil market, we expect global upstream investment to remain flat or even fall – indeed, the reported 2025 budgets to date show a 3-4% drop…

Energean Pushing for More Oil and Gas Exploration Licenses Off Israel

Nov 29, 2024

The CEO of Israel-focused gas producer Energean on Thursday urged Israel to issue new offshore oil and gas exploration licences to meet rising demand in the region.Speaking to Reuters, Mathios Rigas also called on governments to develop new export routes from Israel to neighbouring Egypt and Cyprus…

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