GRM 2010 GRM 2011

Abstract Details

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Title of Paper:
East med gas: Competitor or Compliment?
Paper Proposal Text :
The development of petroleum subsurface resources through cooperation rather than completive mechanisms has assumed greater importance globally. Unitization is the joint coordinated cooperation of a petroleum reservoir by all different owners of the reservoir. It was proven that this is the best mechanism for assuring the maximum recovery of hydro carbons in an efficient manner.
Accordingly Unitization of produced gas from mid-east Mediterranean giant gas fields, Aphrodite of Cyprus – Zohr of Egypt and leviathan/Tamar of Israelis, is the best mechanism for assuring the optimum profit out of these fields .Treated produced gas from these fields can be gathered in one place near Zohr facilities then pumped to Egyptian shore where 2LNG\'plants connected to export facilities and Egyptian gas grid tied with major export pipelines to Ashkelon /Israeli and Aqaba /Jordan up to Homs /Syria then north to turkey and Europe in future could be feasible .
Reserves from these fields is around 900bcm from Tamar /leviathan, 140bcm from Aphrodite and 850bcm from zohr totaling 1890bcm .These reserves can produce at least 95bcm /year for 20years. This gas hub is expected to get bigger as more gas is expected to be discovered in that area leading to one of the major gas supply to Europe. Another stream could come from
The Gulf gas, Qatari and Saudi could join this hub through gas pipeline similar to SUMED oil pipeline . This gas could be received at Sokhna ( gulf of Suez ) or Safaga ( Red Sea ) and pumped to Damietta ready for expert .

In order to achieve the above target:
A joint operating company has to be formed composed of two members from each side. One member is to represent the government and the other to represent contractor. Chairmanship is to be by circulation or selected expert approved by all parties.
Advantage of this approach
1- Optimization to expenses.
2- Company holds big reserves capable to play a role in the gas market.
3- This structure can accommodate new discoveries that will be reflected on development cost.
Disadvantage of this approach
1- Possibility of disagreement with politics.
2- Long time to reach agreement between different parties.