SPECULATION CONTINUED yesterday as to when Cyprus will get a clear picture of the size and quality of hydrocarbon reserves south of its Exclusive Economic Zone (EEZ).
According to Panos Papanastasiou, Dean of the Engineering School at the University of Cyprus, Texas-based Noble Energy, currently drilling in Cyprus’ Aphrodite field, will have a clear idea within two weeks whether all the talk of massive gas reserves proves to be true or just hot air.
On Tuesday, Commerce Minister Praxoulla Antoniadou called for patience, saying the first indications of the size and quality of the field, also known as Block 12, were expected in December, while the evaluation procedure would last around a year.
Papanastasiou had a different view: “Noble will very likely know much earlier. If things proceed normally, I calculate Noble will have a good idea within two weeks.”
He added that it would probably take the company a further two to three months of tests before making an official announcement, due to the need to be certain before making any such statement.
Regarding the government’s plans to proceed shortly with a second round of licencing for the remaining blocks in Cyprus’ EEZ, Papanastasiou said: “If they do announce finding large deposits in Aphrodite, then the value of neighbouring blocks or in the wider area will increase substantially. Therefore, you would expect greater interest from companies and our demands should also rise. Any negotiation (with the companies) should happen after an announcement of the results.”
Local paper Politis yesterday reported that the government was working around the clock to prepare a call for interest in the second round of licencing within the next two weeks, which would be followed by the start of negotiations with interested companies by January.
The Commerce Minister yesterday responded to the reports, saying: “We did not speak about two weeks.”
She told the Cyprus News Agency that the aim was to have a decision on the second round by the end of the year.
“Certainly, what is being discussed is to take the decisions needed to move shortly to the second round,” said Antoniadou.
“What is becoming apparent is that we will be in a position to announce decisions on how we’re progressing with the second round of licencing certainly before the end of this year,” she added.
Asked whether the government was any closer to deciding how it would exploit any natural gas found, the minister replied: “What is certain is that the next steps in the exploitation of possible hydrocarbon deposits in Cyprus’ EEZ is being discussed on a high political level and certainly at the level of the ministerial committee.”
The Cyprus Mail asked the minister to comment on reports that the government was dragging its feet on taking a decision regarding the exploitation and export of possible natural gas finds, Antoniadou said: “Since I assumed office, we have been moving very fast. An indication of that is that we started drilling two weeks earlier than what was originally envisaged.”
Yesterday’s Phileleftheros reported that Archbishop Chrysostomos has held a series of meetings with Noble officials and the Israeli Ambassador to Nicosia in recent days to discuss possible investment in the energy sector.
Meanwhile, Turkey’s seismic research vessel Piri Reis was due to leave the occupied port of Famagusta yesterday afternoon to return to Cyprus’ EEZ. The Turkish Petroleum Company (TPAO) is using the vessel to conduct seismic research in an area Turkey describes as Area G, which comprises of Block 8, 9 and parts of 12, south of the island.
According to yesterday’s Hurriyet, the vessel will be accompanied by the Turkish navy’s frigate Giresun and two corvettes.
Dr Derman Dondurur, coordinator of the Piri Reis research, was quoted saying the first phase of research covered 1,200km southwest of the island, while the second phase will cover 3,000km in 20 to 25 days.
Speaking to Turkish state news agency Anatolu, Dondurur said the vessel “will get much closer” to Noble’s rig in Block 12 than the 15km reached last time the vessel was out at sea.
At the same time, a French-owned, Norwegian flagged vessel, the Bergen Surveyor, along with Faroe Islands-flagged Thor Beamer have been conducting seismic studies west of Paphos.
“The more Greek Cypriots act in the eastern Mediterranean, Turkey will continue to react,” said Turkish EU Affairs Minister Egemen Bagis yesterday.
Commenting on the EU’s progress report for Turkey, he said the report should not be “sabotaged by the drilling”.
President of the Party of European Socialists (PES) Poul Nyrup Rasmussen yesterday called on Turkey to respect the sovereign rights of all EU member states, including those in Cyprus.
“These threats must be stopped. The government of Cyprus is in the right, and Turkey should refrain from any source of tension that could undermine regional stability,” he said.
