Cyprus is keenly tuned in to the preparations for drilling for natural gas off the nation's southern coast, due to take off on October 1. The country recently signed a production-sharing contract with Noble Energy, a US firm, which has a concession to launch exploration activities in Block 12, an Exclusive Economic Zone (EEZ), south-east of Cyprus.

Energy Service director Solon Kassinis said, the proposed drilling will last for two months and will provide the government required data to determine the size of the resource base in the area. The second round of bidding for other blocks in the region will depend on the Block 12 evaluation and drilling results. "Block 12 is the only one that's been licensed. We will probably wait until we get the results of the drilling before proceeding with a new round of licensing by the end of the year, beginning of next,' Kassinis said.

Noble is required to submit a revised version of the environmental impact study this week and all the preparations are progressing as planned. "Everything is going according to plan. We expect them to resubmit it this week, after which we can give the permit to begin drilling,' he said.

According to a report by Cyprus Mail on Kassinis visit to Israel, the director held talks with various ministries and expressed his views and ideas on collaboration between the nations. Commenting on Egypt's new natural gas discoveries in the Nile Delta and Mediterranean Sea to the tune of 194 billion cubic feet of gas and two million barrels of condensate, he said: "Truly this pleases me because for decades now I have believed that the Mediterranean is very rich in hydrocarbon deposits."

Tags: Noble Energy