02/06/2015 14:14
The government sees in a positive light the prospect of Noble Energy`s efforts to sell part of its share in block 12 of Cyprus` exclusive economic zone to a strategic investor.
According to Energy Minister Yiorgos Lakkotrypis, Noble is in this process for several months, something the Minister said comprises a standard process for companies looking to raise funds in order to develop their offshore resources.
"Noble is in consultation with various companies in order to make available a part of the share it owns today in block 12," Lakkotrypis went on.
Such efforts, aiming at boosting development, are to the benefit of the Republic of Cyprus, the Minister concluded.
Cyprus is currently developing natural resources discovered within its EEZ, and several international companies are involved in hydrocarbon exploration and exploitation activities.
Exploration and appraisal drilling in “Aphrodite”, in block 12 by Noble Energy and Delek has shown estimated reserves of 3.6 Tcf to 6 Tcf, namely 5 Tcf.
According to Energy Minister Yiorgos Lakkotrypis, Noble is in this process for several months, something the Minister said comprises a standard process for companies looking to raise funds in order to develop their offshore resources.
"Noble is in consultation with various companies in order to make available a part of the share it owns today in block 12," Lakkotrypis went on.
Such efforts, aiming at boosting development, are to the benefit of the Republic of Cyprus, the Minister concluded.
Cyprus is currently developing natural resources discovered within its EEZ, and several international companies are involved in hydrocarbon exploration and exploitation activities.
Exploration and appraisal drilling in “Aphrodite”, in block 12 by Noble Energy and Delek has shown estimated reserves of 3.6 Tcf to 6 Tcf, namely 5 Tcf.
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