• 2 minutes Oil prices going down
  • 11 minutes China & India in talks to form anti-OPEC
  • 16 minutes When will oil demand start declining due to EVs?
  • 8 hours Oil prices going down
  • 13 hours We Need A Lasting Solution To The Lies Told By Big Oil and API
  • 13 hours Another WTH? Example of Cheap Renewables
  • 3 days Bullish and bearish outlook for oil
  • 44 mins What If Canada Had Wind and Not Oilsands?
  • 1 day Trump Hits China With Tariffs On $50 Billion Of Goods
  • 3 days Rolls Royce shedding 4,600 jobs
  • 2 days When will oil demand start declining due to EVs?
  • 13 hours The Wonderful U.S. Oil Trade Deficit with Canada
  • 2 days Russia's Rosneft 'Comfortable' With $70-$80 Oil Ahead of OPEC Talks
  • 6 hours China & India in talks to form anti-OPEC
  • 3 days U.S. Cars Will No Longer Need 55mpg Fuel Efficiency By 2025.
  • 36 mins Australia mulls LNG import
  • 12 hours The Permian Mystery
  • 6 hours No LNG Pipelines? Let the Trucks Roll In
  • 1 day Gazprom Exports to EU Hit Record
Europe Is Awash With Oil Stored On Ships

Europe Is Awash With Oil Stored On Ships

Bullish sentiment in markets makes…

U.S. Company to Begin Drilling in Cyprus Offshore Waters by Year End

U.S. company Noble Energy is to begin exploring Cyprus' offshore Mediterranean Exclusive Economic Zone (EEZ) by the end of this year.

Addressing reporters after a meeting with President of the Republic Demetris Christofias Noble Energy's Senior Vice President Rodney Cook stated that the exploration "will start no later than the end of this year," adding that "we look forward to that opportunity" and noted, “with the President we have also discussed beyond the drilling of the well, on how we would 'monetizse' gas upon discovery and further cooperation," the Cypriot government affiliated Cyprus News Agency reported.

Minister of Commerce Antonis Paschalidis commented that President Christofias "approved of these actions and expressed his satisfaction for the cooperation and the outcome so far. Both sides we were reassured to move forward taking firm but yet prompt steps, in a responsible manner, for the completion of the works, according to the contract."

In October 2008 Noble Energy' received an offshore concession from the Cypriot government to explore its designated Block 12 for possible hydrocarbon reserves in Cyprus' EEZ. The concession borders Israel’s “Leviathan” offshore block in Israel's Mediterranean EEZ.

The issue of hydrocarbon exploration in the eastern Mediterranean is frequently contentious, as a number of nations have overlapping claims.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News