ENI ACQUIRES EGYPT
Eni SPA will resume exploration offshore Egypt under concession agreements based on production sharing it has signed covering two deepwater blocks offered in Egyptian Natural Gas Holding Co.'s 2013 bid round.
Eni subsidiary IEOC is operator.
The company holds 100% of the North Leil block, covering 5,105 sq km in 2,050-3,000 m of water about 170 km offshore.
It holds 50% of the Karawan block, which covers 4,565 sq km in 1,200-2,200 km of water about 107 km offshore. BP PLC holds the remaining interest.
The Karawan block is adjacent to the west of the North Leil block and adjacent to the east of the Shorouk block, which Eni acquired last year.
Royal Dutch Shell PLC drilled a dry hole on the Karawan block in 2001 and a dry hole on the North Leil block in 2007.
Eni has worked in Egypt since 1954. It has interests in about 210,000 boe/d of Egyptian production.
|October, 15, 12:30:00|
|October, 15, 12:25:00|
|October, 15, 12:20:00|
|October, 15, 12:15:00|
|October, 15, 12:10:00|
|October, 15, 12:05:00|
GAZPROM - The parties discussed relevant issues related to bilateral cooperation, including the Baltic LNG project. Emphasis was placed on the priority measures aimed at developing a joint design concept (pre-FEED).
BHGE - U.S. Rig Count is up 11 rigs from last week to 1,063, with oil rigs up 8 to 869, gas rigs up 4 to 193, and miscellaneous rigs down 1 to 1. Canada Rig Count is up 13 rigs from last week to 195, with oil rigs up 8 to 127 and gas rigs up 5 to 68.
REUTERS - Brent crude futures had risen $1.02 cents, or 1.3 percent, to $81.28 a barrel by 0637 GMT. The contract dropped 3.4 percent on Thursday following sharp falls in equity markets and indications that supply concerns have been overblown. U.S. West Texas Intermediate (WTI) crude futures were up 80 cents, or 1.1 percent, at $71.77 a barrel, after a 3 percent fall in the previous session. WTI is on track for a 3.5 percent drop this week.
EIA - Brent crude oil spot prices averaged $79 per barrel (b) in September, up $6/b from August. EIA expects Brent spot prices will average $74/b in 2018 and $75/b in 2019. EIA expects West Texas Intermediate (WTI) crude oil prices will average about $6/b lower than Brent prices in 2018 and in 2019.