Noble to Declare Aphrodite’s Commerciality within Weeks

Noble intends to declare that the Aphrodite offshore field is commercially viable, Cyprus’ Minister of Energy Yiorgos Lakkotrypis said on Tuesday, adding that the company should make its announcement within weeks. 

“A few moments ago, the Senior Vice President of Noble Energy Mr Keith Elliott … met with the President of Cyprus and explained the company’s plans to declare commerciality of the Aphrodite field and submit a Field Development and Production Plan to the Ministry, in a few weeks” Lakkotrypis said at the Eastern Mediterranean Gas Conference 2015. 

The Minister welcomed the news, explaining that the announcement will mark the first time Cyprus will start development and exploitation of hydrocarbons. 

He also explained that Nicosia will bet on regional cooperation to tap resources, mentioning Egypt, Greece, Israel, Jordan, Lebanon and Palestine. He also spoke about a possible pipeline connecting Cyprus and Egypt. 

According to Lakkotrypis, several companies will unveil their plans and their results in the coming months. He mentioned the consortium made up by ENI and KOGAS, explaining that the results for the exploration well Amathusa 1 in Block 9 will be announced “very soon.”

“Total E & P Cyprus B.V… will continue exploration work with further geological and geochemical surveys in the area aiming at better understanding its exploration potential. A relevant updated agreement between the company and the Government of Cyprus will be signed soon, to better reflect the adjusted exploration obligations of the company” the Energy Minister commented,  reminding that Total did not yet identify any drillable prospect on exploration blocks 10 and 11.