Cyprus energy director sees promise in East Mediterranean gas development

09/19/2011
Drilling offshore Cyprus Block 12 will begin later this month in an effort by Noble Energy Inc. to determine the extent of the natural gas resources, tentatively estimated at 10 tcf. Block 12 is one of a dozen concessions in Cyprus' maritime Exclusive Economic Zone, and depending on the results of the pending drilling campaign, Cyprus plans to publish tenders for exploration rights to the other 11 blocks. In an interview with Israel's Globes business daily, Cypriot Energy Service director Solon Kassinis discussed upcoming tenders, as well as his country's natural gas potential and its possible joint ventures with Israel. "We intend to publish tenders for licenses for 12 blocks and an...
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