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Drilling to start on September 21
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NOBLE Energy Inc. is to begin exploratory drilling in Cyprus’ offshore Block 12 on 21 September, the state broadcaster reported last night.
The company’s rig is currently in Israeli waters but will soon be completing drilling at a gas find there.
Block 12, located in Cyprus’ Exclusive Economic Zone, is just 12 km from Israel’s Leviathan gas field.
At the time of discovery, Leviathan was the largest find ever discovered in the under-explored area of the Mediterranean Sea and the largest discovery in the history of Noble Energy.
Cyprus has signed a production-sharing contract with Noble Energy, which has a concession to explore for hydrocarbons in Block 12.
Noble Energy is contractually obliged to start drilling on or before October 1.
The exploratory drilling will anywhere from two to four months, allowing Cyprus to obtain a clear view of the size of its hydrocarbon reserves in the block. The government will then proceed with a second round of licensing for other blocks in the region.
