{"id":585473,"date":"2023-04-19T00:00:00","date_gmt":"2023-04-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/19\/eni-to-drill-new-mediterranean-exploration-well-chevron-looks-to-ramp-up-east-med-exploration-reports\/"},"modified":"2023-04-19T00:00:00","modified_gmt":"2023-04-19T00:00:00","slug":"eni-to-drill-new-mediterranean-exploration-well-chevron-looks-to-ramp-up-east-med-exploration-reports","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/19\/eni-to-drill-new-mediterranean-exploration-well-chevron-looks-to-ramp-up-east-med-exploration-reports\/","title":{"rendered":"Eni to drill new Mediterranean exploration well + Chevron looks to ramp up East Med exploration -reports"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Eni is preparing to start drilling an exploration well at its Mediterranean North East <\/span><span style=\"font-weight:700\">Hap\u2019y concession in September<\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/bit.ly\/3obkgne\" style=\"\">Al Mal<\/a><\/span><span> reports, citing anonymous industry sources. One of the company\u2019s operating companies in Egypt, the <\/span><span>Belayim Petroleum Company (Petrob<\/span><span>el),<\/span><span style=\"font-weight:400;\">will handle the drilling of the Orion X1 well, which is expected to cost USD 130 mn, the newspaper's sources say.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Eni + Energean own the concession:<\/span><span> The well is situated in the North East Hap\u2019y concession, which is 70% owned by Eni and 30% by London-headquartered oil and gas company Energean, which is looking to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.energean.com\/media\/5357\/january-2023-trading-statement-operational-update.pdf\" style=\"\">farm down 12% of its interest (pdf)<\/a><\/span><span style=\"font-weight:400;\"> ahead of the drilling. Petrobel is a 50\/50 joint venture between Eni and the Egyptian General Petroleum Company (EGPC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">CHEVRON WANTS MORE EAST MED EXPLORATION-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Energy major Chevron is looking <\/span><span style=\"font-weight:700\">for a drilling vessel<\/span><span> to explore for more natural gas off Cyprus, Egypt, and Israel to help fulfill increasing demand for energy in Europe and the region, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/business\/energy\/chevron-seeks-drilling-ship-expand-east-med-gas-search-2023-04-18\/\" style=\"\">Reuters<\/a><\/span><span style=\"font-weight:400;\"> reports, citing two unnamed sources. The company reportedly issued a tender to lease the vessel starting in 2024. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER- Chevron is expanding in the region: <\/span><span>The company is <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3b0e72cc-581a-4cd8-8159-75d9b8d2990e\" style=\"\">working to exploit<\/a><\/span><span> Cyprus\u2019 Aphrodite field with its partners Shell and Israel\u2019s NewMed Energy, with plans to export much of that gas to Egypt for liquefaction. Chevron and Eni also <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/16\/chevron-eni-announce-significant-eastmed-gas-find-93629\/\" style=\"\">announced<\/a><\/span><span> a significant discovery in the eastern Mediterranean in January.<\/span><span>The gas deposit has been said to hold <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/05\/chevron-finds-3-5-tn-cf-of-gas-in-the-eastmed-90240\/\" style=\"\">3.5 ton cubic feet<\/a><\/span><span style=\"font-weight:400;\"> of natural gas though we\u2019re still waiting on the companies and the Oil Ministry to confirm its size.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Eni and EGPC\u2019s Petrobel will drill the Orion X1 well at a USD 130 mn cost<\/p>\n","protected":false},"author":1,"featured_media":585474,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[780,557,93,197,72,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-585473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-chevron","tag-egyptian-general-petroleum-corporation","tag-energy","tag-eni","tag-enterpriseam","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"a16e0275-994f-4318-8b49-db49b2575af3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/747.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Eni to drill new Mediterranean exploration well. PLUS: Chevron seeks drilling vessel to ramp up East Med exploration -reports","related_issue":[585464],"teaser":"Eni and EGPC\u2019s Petrobel will drill the Orion X1 well at a USD 130 mn cost","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.c1f15a33-c640-40ce-b074-2a17b6bf10ba.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Eni to drill new Mediterranean exploration well + Chevron looks to ramp up East Med exploration -reports - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/19\/eni-to-drill-new-mediterranean-exploration-well-chevron-looks-to-ramp-up-east-med-exploration-reports\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eni to drill new Mediterranean exploration well + Chevron looks to ramp up East Med exploration -reports\" \/>\n<meta property=\"og:description\" content=\"Eni and EGPC\u2019s Petrobel will drill the Orion X1 well at a USD 130 mn cost\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/19\/eni-to-drill-new-mediterranean-exploration-well-chevron-looks-to-ramp-up-east-med-exploration-reports\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-19T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/747.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/19\/eni-to-drill-new-mediterranean-exploration-well-chevron-looks-to-ramp-up-east-med-exploration-reports\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/19\/eni-to-drill-new-mediterranean-exploration-well-chevron-looks-to-ramp-up-east-med-exploration-reports\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Eni to drill new Mediterranean exploration well + Chevron looks to ramp up East Med exploration -reports\",\"datePublished\":\"2023-04-19T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/19\/eni-to-drill-new-mediterranean-exploration-well-chevron-looks-to-ramp-up-east-med-exploration-reports\/\"},\"wordCount\":272,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/19\/eni-to-drill-new-mediterranean-exploration-well-chevron-looks-to-ramp-up-east-med-exploration-reports\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/747.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Chevron\",\"Egyptian General Petroleum Corporation\",\"energy\",\"Eni\",\"EnterpriseAM\",\"oil and gas\"],\"articleSection\":[\"Energy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/19\/eni-to-drill-new-mediterranean-exploration-well-chevron-looks-to-ramp-up-east-med-exploration-reports\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/19\/eni-to-drill-new-mediterranean-exploration-well-chevron-looks-to-ramp-up-east-med-exploration-reports\/\",\"name\":\"Eni to drill new Mediterranean exploration well + Chevron looks to ramp up East Med exploration -reports - 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The USD 105 mn agreement\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":589549,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/05\/oil-majors-to-invest-usd-1-8-bn-here-by-2025-in-search-for-gas\/","url_meta":{"origin":585473,"position":1},"title":"Oil majors to invest USD 1.8 bn here by 2025 in search for gas","author":"enterpriseam admin","date":"5 July 2023","format":false,"excerpt":"Chevron, Eni, ExxonMobil, Shell, and BP will drill a total of 35 wells by 2025","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/101.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594321,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/27\/eni-acquires-70-of-edisons-stake-in-north-east-hapi-mediterranean-concession\/","url_meta":{"origin":585473,"position":2},"title":"Eni acquires 70% of Edison\u2019s stake in North East Hapi Mediterranean concession","author":"enterpriseam admin","date":"27 October 2019","format":false,"excerpt":"M&A WATCH- Eni has acquired 70% of Edison\u2019s stake in Block 12 of its North East Hapi natural gas concession in the Mediterranean, an unnamed EGAS source said on Thursday, according to Reuters. 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