Business & Economy

Noble Energy committed in carrying out confirmation drilling, Cyprus Government says

09 April, 2013

Houston based Noble Energy stands committed in carrying out the confirmation drilling in Cyprus’ Exclusive Economic Zone, Government Spokesman Christos Stylianides has said.

He also noted that the company has once more expressed its full commitment for the exploitation of the natural reserves in Cyprus’ EEZ the soonest possible.
Speaking to the press following a meeting of President Nicos Anastasiades with Noble’s Chairman Charles Davidson, Stylianides noted that the confirmation drilling is set to begin in June and will last approximately three months. After the drilling is over, there will be a clearer picture on the exact amount of the natural reserve.

He said that during the meeting, Noble’s Chairman affirmed of the company’s commitment to carry out with the whole procedure and exploit the reserves in the best possible way.
Stylianides also said that during the meeting President Anastasiades and Noble Chairman touched upon the issue of the liquefaction terminal at the Vasiliko area.
Exploratory drilling conducted by Noble Energy in Block 12 of Cyprus’ EEZ has revealed a gross natural gas reserve from 3 to 9 trillion cubic feet (tcf) with a 60% probability of geologic success.

Noble is expected to extract and transfer to Cyprus natural gas by late 2018.
Contracts were signed with the ENI/KOGAS consortium in blocks 2, 3 and 9 within Cyprus’ EEZ and Total for blocks 10 and 11 in the context of the 2nd licensing round.