Aphrodite gas field in Cyprus to be developed by companies for $4 billion
NewMed Energy, an Israeli company, said that the partners in the offshore Aphrodite gas field had submitted to the Cypriot Government a plan for the development of the project. The cost is estimated to be around $4 billion. NewMed, along with partners Chevron Shell and Shell, updated a previous development and production plan in accordance with instructions from the Government. It will initially have 4 production wells with an estimated production capacity of 800 million cubic feet per a day. It said that the natural gas would be exported through a pipeline into Egypt's transmission system. Aphrodite is estimated to hold 3.6 trillion cubic foot of gas.
Sources say that Cyprus is considering ending the monopoly on gas imports to tackle project delays.
Cyprus is looking for a way to quickly resolve the serious delays that have been experienced in getting natural gas to the market. The efforts to introduce natural gases to the local market has been plagued with delays since years. The latest setback was a legal dispute between Cyprus and a Chinese group over a half finished liquefied gas import terminal (LNG). Cyprus, despite finding its own gas offshore in 2011, currently relies primarily on heavy fuel oil for electricity generation. 77% of this is produced by the dominant Electricity Authority of Cyprus.
Cyprus deadline for offshore gas update by Chevron-led Group
One of the partners in a Chevron-led group that has licensing rights to a gasfield off Cyprus said Monday they will submit an updated development plan with a few days. Cyprus had given them a deadline of three months. Since Chevron tried to change a field development plan for 2019, there have been long-running discussions on the future of the Aphrodite Field, south-east from Cyprus. This plan was agreed upon between Cyprus and Noble, a licence-holder independent energy operator Chevron purchased in 2020. NewMed Energy (a partner of the consortium)…
Turkey to Drill Near Cyprus for Three Months
Turkey launched a second drilling ship on Thursday which will conduct natural gas operations off the northeast coast of Cyprus for three months, a move which risks aggravating a conflict with Cyprus over jurisdiction rights for oil and gas exploration.Turkey and the internationally recognised Cypriot government have overlapping claims in that part of the Mediterranean, an area thought to be rich in natural gas.Energy Minister Fatih Donmez said at the launch of the vessel, Yavuz, it would operate in a borehole near Cyprus' Karpas peninsula…
Greek PM May Seek Sanctions Against Turkey in Gas Row
Greece and Cyprus will push their EU partners to penalize Turkey, including the possible option of sanctions, if Ankara is verified to have started drilling for gas west of Cyprus, Greek Prime Minister Alexis Tsipras said on Sunday.The discovery of lucrative energy reserves in the eastern Mediterranean has drawn into sharper focus long-standing tensions between Turkey and the Greek Cypriot government.A Turkish drill ship has been anchored west of Cyprus since May. Cyprus and Greece say the vessel is encroaching into Cyprus's exclusive economic zone (EEZ) - an area which Cyprus can use for commercial exploitation.
Cyprus Issues Arrest Warrants for Turkey Drill Ship Crew
Cyprus has issued arrest warrants for the crew of a Turkish drill ship anchored close to its coast for allegedly infringing territory over which the island has rights to explore for oil and gas, a foreign ministry official said on Thursday."We can confirm that warrants were issued. It's a double digit number," the Cypriot official said, declining further comment.Turkey said on June 10 that reports of the arrest warrants -- which had at that point not been confirmed by Nicosia -- "crossed the line".The two countries have been at odds since the 1974 ethnic conflict that split the island between its Greek and Turkish Cypriot populations…
Turkey Set to Begin Drilling off Cyprus
Turkey will begin drilling for oil and gas near Cyprus in coming days, state-owned news agency Anadolu reported Foreign Minister Mevlut Cavusoglu saying on Thursday, a move that could stoke tensions with neighboring Cyprus and Greece.Turkey and the internationally recognized Greek Cypriot government have overlapping claims of jurisdiction for offshore oil and gas research in the eastern Mediterranean, a region thought to be rich in natural gas."In the coming days we will start drilling with two ships around Cyprus," Cavusoglu was quoted as saying in a speech to a business conference in western Turkey's Aydin province."Let those who come to the region from far away…
Turkey to Begin Drilling Around Cyprus
Turkey will begin drilling for resources around Cyprus, Foreign Minister Mevlut Cavusoglu said on Friday, a move that could create tensions with neighboring Cyprus and Greece over ownership of natural resources.Attempts to tap gas and oil in the eastern Mediterranean have caused friction between Athens and Ankara.Turkey and the internationally recognized Greek Cypriot government in Cyprus have overlapping claims of jurisdiction for offshore oil and gas research in the eastern Mediterranean, a region thought to be rich in natural gas.Turkey…
Turkey Warns Against Energy Exploration with Greek Cypriot Govt
Turkey warned energy companies on Sunday against working with the Greek Cypriot government in carrying out exploratory drilling in the eastern Mediterranean, saying such activities could damage regional stability.The eastern Mediterranean is believed to be rich in natural gas, and attempts to tap resources there have revived tensions between Turkey and Greece, which has a defense pact with the internationally recognized Greek Cypriot government.Turkey and Cyprus have overlapping claims of marine jurisdiction and both plan to carry out exploratory drilling this year.
Turkey Says Other Countries Cannot Drill In Its Waters
Turkey will not allow the exploitation of gas reserves in Turkish and north Cypriot waters of the eastern Mediterranean, President Tayyip Erdogan said on Sunday.The eastern Mediterranean is believed to be rich in natural gas, and attempts to tap resources there have revived tensions between Turkey and Greece, which has a defense protection pact with the internationally recognized Greek Cypriot government.Turkey and Cyprus have overlapping claims of marine jurisdiction and both plan to carry out exploratory drills this year. Ankara only has…
Eni Staying in Cyprus Despite Island's Standoff with Turkey
Italy's Eni will not relinquish its interests in Cyprus, its CEO said on Wednesday, as an uneasy standoff between Turkey and the Mediterranean island lingered over offshore hydrocarbons resources.The Italian state-controlled energy giant had to abandon a scheduled drill for oil and gas south of Cyprus in February because of Turkish military exercises. The broader region has yielded some of the largest natural gas finds worldwide in recent years."I just want to remind (sic) that so far we have invested about 700 million euros in Cyprus. That means that there's strong engagement and commitment towards the country…
Cyprus: No Gas Pipeline to Turkey Until Relations Are Mended
Turkey needs to mend relations with Cyprus before the Cypriot government will allow a Turkish-Israel gas pipeline to cross its territory, a government spokesman said on Tuesday. Israel reported massive natural gas discoveries in 2010 and is exploring export outlets, among which is a pipeline to Turkey. But to reach Turkey a pipeline would have to traverse the territorial waters of Cyprus, which was split into ethnic Greek and Turkish enclaves by a Turkish invasion in 1974. "Everyone understands that it's not possible for a state under occupation to approve a pipeline going to the occupying power," said Nicos Christodoulides, the Cypriot government spokesman.
Cyprus Plans Third Offshore Licensing Round
Cyprus said on Tuesday it was planning a third offshore licensing round for hydrocarbons exploration in the eastern Mediterranean, moves which have triggered opposition from Turkey in the past. Cyprus discovered natural gas offshore in late 2011 in an area close to a sea boundary with Israel, where some of the world's largest natural gas discoveries have been made in the past decade. "Cabinet today decided to move ahead with a third licensing round ... it authorised the energy minister to submit the relevant proposals to implement the proposal the soonest possible," government spokesman Nikos Christodoulides told journalists.
Oil & Gas Skills Body Invests in Eastern Mediterranean
OPITO is to play a major role in helping Cyprus to become a regional centre of technical excellence for oil and gas in the Eastern Mediterranean. Following discussions with senior Cypriot government officials, the global oil and gas skills body has invested in a new office in Cyprus which opens its doors today (22 April 2015) in the presence of the British High Commissioner for Cyprus, Mr D R Todd. The Eastern Mediterranean is considered a new energy frontier with an estimated 122 trillion cubic feet of gas in the area. With additional exploration on the horizon and neighbouring countries such as Israel…
Turkish Vessel to Continue Work Off Cyprus
A Turkish research vessel will continue searching for oil and gas off Cyprus, Turkish Cypriot authorities said on Tuesday, extending a simmering standoff between rival sides on the ethnically-split island over offshore gas reserves. The row has already led to Greek Cypriots suspending participation in peace talks with estranged Turkish Cypriots, and on Monday they said they would not return as long as the vessel remained in the area. Barbaros, a seismographic research vessel commissioned by Turkey's state petroleum company TPAO, has been carrying out surveys in an area in the east Mediterranean claimed by Cyprus under international conventions.
Cyprus: No Talks While Turkish Ships Mount a Challenge On Gas
Cyprus's president vowed on Monday to stay away from peace talks with Turkey as long as Turkish ships remained off the island, threatening its right to explore for natural gas offshore. Turkey, which supports a breakaway state in northern Cyprus, dispatched a research vessel to the south of the island late last year while companies commissioned by the internationally recognized government explored offshore. "My participation in a dialogue for a solution to the Cyprus problem is not possible for as long as the sovereign rights of the Republic of Cyprus are being violated," Cypriot President Nicos Anastasiades said in a written statement.
Cyprus: Turkish Vessel Encroaching on its Offshore Gas Areas
Cyprus said on Monday a Turkish research vessel had encroached on an area off its southern coast where it is searching for gas, and it was preparing counter-measures in an escalating row over rights to hydrocarbons in the eastern Mediterranean. Cyprus, a member of the European Union, has become particularly keen to develop offshore gas reserves as a potential source of revenue since it was compelled to seek an international financial bailout in early 2013. Greek Cypriot authorities said the Turkish vessel Barbaros, which collects seismic data…
Biden Says Possible to End Cyprus Division
U.S. Vice President Joe Biden said on Thursday he was optimistic Cypriots could overcome their differences on the ethnically-split island, saying it was well placed to becoming a key player in the energy market. Biden, the most senior U.S. official to visit the east Mediterranean island in more than half a century, said the United States stood prepared to provide assistance in helping Cypriots heal one of the oldest and most intractable conflicts in Europe. "Cyprus is poised to become a key player in the eastern Mediterranean, transforming the eastern Mediterranean into a new global hub for natural gas and markets…
