NICOSIA - - An agreement to transfer 30% of rights held by Noble Energy International in Cyprus’ offshore block 12 to Israel’s Delek Drilling and Anver Oil and Gas Exploration will be signed today in Nicosia.
Signing an agreement with the companies which own the majority of the rights in Israel’s blocks, mainly the Leviathan, will facilitate the transfer of natural gas to Cyprus and in turn to the global markets and it will also strengthen the sustainability of the project, Commerce, Industry and Tourism Minister Neoclis Sylikiotis has underscored.
Speaking Sunday in Limassol, he stressed that Cyprus’ alliance with Israel has “broader political implications” and creates conditions under which Cyprus will secure and defend its sovereign rights.
Sylikiotis said that Noble is expected to start a second drilling in block 12 in the coming months, adding that any delays that occur have to do with company planning.
Contracts were signed on January 24 between the Republic of Cyprus and the ENI/KOGAS consortium for hydrocarbons exploration in blocks 2,3 and 9 in the EEZ of Cyprus in the context of the 2nd licensing round.
French company Total was granted hydrocarbon exploration licenses in Cyprus’ Exclusive Economic Zone (EEZ) blocks 10 and 11, after signing two production sharing contracts with the Ministry of Commerce, Industry and Tourism.
The first licensing round, which concluded in 2007, resulted in granting concessions to Houston-based “Noble Energy” for exploratory drilling in Cyprus’ EEZ block 12, which revealed a gross natural gas reserve between 3 to 9 trillion cubic feet (tcf) with a 60 percent probability of geologic success. Noble is expected to extract and transfer to Cyprus natural gas by late 2018.
- See more at: http://www.cna.org.cy/webnewsEN.asp?a=df3ae50378184362952189589eab36d4#sthash.ZM8WxhJb.dpufNicosia, Feb 11 (CNA) - - An agreement to transfer 30% of rights held by Noble Energy International in Cyprus’ offshore block 12 to Israel’s Delek Drilling and Anver Oil and Gas Exploration will be signed today in Nicosia.
Signing an agreement with the companies which own the majority of the rights in Israel’s blocks, mainly the Leviathan, will facilitate the transfer of natural gas to Cyprus and in turn to the global markets and it will also strengthen the sustainability of the project, Commerce, Industry and Tourism Minister Neoclis Sylikiotis has underscored.
Speaking Sunday in Limassol, he stressed that Cyprus’ alliance with Israel has “broader political implications” and creates conditions under which Cyprus will secure and defend its sovereign rights.
Sylikiotis said that Noble is expected to start a second drilling in block 12 in the coming months, adding that any delays that occur have to do with company planning.
Contracts were signed on January 24 between the Republic of Cyprus and the ENI/KOGAS consortium for hydrocarbons exploration in blocks 2,3 and 9 in the EEZ of Cyprus in the context of the 2nd licensing round.
French company Total was granted hydrocarbon exploration licenses in Cyprus’ Exclusive Economic Zone (EEZ) blocks 10 and 11, after signing two production sharing contracts with the Ministry of Commerce, Industry and Tourism.
The first licensing round, which concluded in 2007, resulted in granting concessions to Houston-based “Noble Energy” for exploratory drilling in Cyprus’ EEZ block 12, which revealed a gross natural gas reserve between 3 to 9 trillion cubic feet (tcf) with a 60 percent probability of geologic success. Noble is expected to extract and transfer to Cyprus natural gas by late 2018.