Abu Dhabi: Mubadala Petroleum and Italy's Eni signed an agreement to purchase a 10 per cent stake in the Egyptian Shorouk Concession encompassing the giant Zohr gasfield
located in the Mediterranean Sea.
This mega project will supply natural gas from Turkmenistan's giant Galkynysh gasfield
, using a 1,840km gas pipeline at a cost of $8 billion.
However, he said he was optimistic about a $5-billion contract signed last July with the French group Total, which heads a consortium with China's CNPC to develop a gasfield
He said beyond 500 million cubic meters/day gas is extracted from South Pars gasfield
and it falls within framework of policies of the Economy of Resistance.
Summary: Italian energy group Eni has discovered what it says is a "supergiant" gasfield
off the coast of Egypt, the largest ever found in the Mediterranean Sea and which could provide a much-needed boost for the country's economy.
He made the comments after the US Industry and Security Bureau (BIS) published earlier today a notice in the Federal Register on the extension of the sanctions against the Russian economy to Yuzhno-Kirinskoe oil and gasfield
in the Sea of Okhotsk in the Far East.
Shell yesterday said it would postpone a project to provide subsea compression at the North Sea's Ormen Lange, the second-biggest Norwegian gasfield
, despite the objections of a key licence partner.
The Israeli partners in a group drilling in Cyprus' offshore Aphroditenatural gasfield
said the estimated reserves there have dropped to 4.
OVL to buy 10% stake in giant offshore gasfield
The association also rejected the plan of ministry of petroleum and natural resources to suspend gas supply to CNG outlets for six days on account of maintenance of plants at Qadirpur gasfield
The South Pars project to develop Iran's part of the world's largest gasfield
has been hampered by a withdrawal of international energy companies, under pressure from US and European governments, and difficulties in acquiring technology due to sanctions on trade, said a report in our sister publication, the Gulf Daily News.