The second confirmation drilling of Noble begins today, which is estimated to last from three to four months, in block 12 "Aphrodite" of the Cypriot EEZ.
The Minister of Energy, George Lakkotrypis, stated in a press conference that the purpose of the drilling is to verify the size and quality characteristics of the deposits.
For the Second Licensing Round, he noted that 33 applications were submitted by 15 consortia for nine research units and three research permits were granted to the Eni / Kogas consortium for blocks 2, 3 and 9 and two to Total for blocks 10 and 11.
According to AMPE, in May, the cabinet decided to reject all proposals that did not meet the conditions for participation and the remaining applications were extended until December 2, 2013.
Analyzing the Road Map for the development of natural gas deposits within the EEZ of Cyprus, Mr. Lakkotrypis mentioned the following milestones:
- Memorandum of Understanding and Agreement for the Liquidation Terminal Project with Noble Energy. Negotiations and signing of the Project Agreement in the fourth quarter of 2013.
- Noble Energy Evaluation Program for block 12. The whole process is in progress and is expected to be completed in the third quarter of 2014. Drilling A-2, which starts tomorrow, is part of the whole evaluation process.
- Heads of Agreement (s] for the sale of liquefied natural gas (s) concern long-term contracts, third to fourth quarter of 2014.
- Final Investment Decision for the liquefaction terminal, the third quarter of 2015.
- Arrival in Cyprus of the first quantities of natural gas from block 12, in the third quarter of 2018.
- First exports of liquefied natural gas from block 12, in the third quarter of 2019.
- Potential hydrocarbon deposits from the remaining plots. First indications in 2014.
The Minister of Energy noted that what is required now is the decision on the commercial and property model, which will govern the gas liquefaction unit, as well as the planning for the recruitment of consultants who will frame the hydrocarbon sector, by providing consulting services. in legal, financial, technical and commercial matters.
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