East Med presses upstream buttons
Six Eastern Mediterranean states will be drilling for hydrocarbons in 2019, but, as always, the politics is complicated
The impending results of two drilling campaigns have the potential to super-charge the East Mediterranean as a world-class hydrocarbons province. Egyptian officials have suggested that the gas in place at the offshore Nour field could exceed that of the country's mega-giant Zohr field—at least 30tn ft³, or 850bn m³, the biggest discovery yet in the East Med. Eni is dampening expectations of current drilling there, referring to Nour in its recent third-quarter results presentation only as a "sizeable prospect". In Cypriot waters, ExxonMobil is drilling in Block 10, targeting the same carbonate layer as in the Zohr discovery. "There are few regions in the world where so much activity is concen
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
