Cyprus will press ahead with a second offshore licensing round for natural gas and may have a schedule in place by the end of this year. Cyprus’s US partner, Texas-based Noble Energy, began drilling an offshore prospect a month ago bordering two significant gas discoveries made by Israel. Licensing will also be seen as a [...]
NOBLE Energy Inc. is to begin exploratory drilling in Cyprus’ offshore Block 12 on 21 September. Block 12, located in Cyprus’ Exclusive Economic Zone, is just 12 km from Israel’s Leviathan gas field. Cyprus has signed a production-sharing contract with Noble and Noble is contractually obliged commence drilling before October. The exploratory drilling will last [...]
The Cyprus Government, through the Ministry of Commerce, Industry and Tourism, announced its invitation to parties to express their interest in the establishment of a joint venture that will develop, finance, construct and operate the Vasilikos Oil Terminal. The procedure is open to economic operators and consortia of economic operators and the deadline is set for [...]
It has been announced that Vitol Tank Terminals International (“VTTI”) is to construct an oil import and distribution terminal in Vassiliko, Cyprus. The terminal, to be completed in 2012, will be an investment of more than €100 million and will establish Cyprus as an oil trading hub. It will also complement the supply of oil [...]
The first wind park in Cyprus is underway and will be ready by the end of 2010. The contract for the connection of the first Wind Park, of a total power of 82MW, with the electricity transmission network in Cyprus was signed on July 19 between the transmission system operator of Cyprus and the producer.
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