NICOSIA – A team has been appointed with responsibility for negotiating with Noble Energy International, Delek and other companies on the earliest possible supply of Cyprus with natural gas from block 12 in its Exclusive Economic Zone (EEZ) and the construction of an LNG plant as soon as possible.
Government Spokesman Christos Stylianides announced the appointment of the negotiating team.
Permanent Secretary of Ministry of Energy, Commerce, Industry and Tourism Stelios Himonas is to serve as President of the team. The rest of the team’s members are lawyer Nora Nicolaides senior accountant of the Republic Stelios Koundouris, a member representing the Natural Gas Public Company (KRETYK), head of the Cyprus National Hydrocarbons Company (CNHC) Eleni Vasileiadou and Director of the Ministry of Communications and Works Department of Control Odysseas Michaelides.
Stylianides further pointed out that whenever necessary representatives from the Attorney General’s office and the Republic’s Audit Office may also take part as observers in the team’s meetings.
Houston based Noble begun drilling in early July at the A-2 appraisal well location in block 12, which will take 60 to 90 days. In 2011 Noble announced that exploratory drilling in block 12`s A-1 well revealed an estimated resource of 5 trillion cubic feet (tcf) to 8 tcf, with a mean of 7 tcf. Noble Energy operates Block 12 with a 70 percent working interest. Delek Drilling Limited Partnership and Avner Oil Exploration Limited Partnership each own 15 percent.
Apart from Noble Energy, Cyprus has also signed contracts with the ENI/KOGAS consortium for hydrocarbons exploration in blocks 2, 3 and 9, as well as with French TOTAL for blocks 10 and 11 in its Exclusive Economic Zone. On June 26, 2013, Cyprus government, Delek and Avner signed a Memorandum of Understanding (MoU) on the Cyprus LNG terminal.