Cyprus-Forum.com

[humanist]

I heard yesterday that oil in Saudi Arabia is due to run dry by 2028? awfully close. I guess it is good thing for the Republic and its citizens to enjoy a period of wealth. Hopefully peace also and freedom from Turkey for the GC's and TC's alike

[Hermes]

Drilling for oil and gas to start by October 1...

DRILLING FOR natural gas off the southern coast of Cyprus will begin on or before October 1, after which the country will get a concrete picture of how rich its resources are, said Energy Service director Solon Kassinis yesterday.

Cyprus has signed a production-sharing contract with Houston-based Noble Energy. The company has a concession to explore for hydrocarbons in an offshore field in its Exclusive Economic Zone (EEZ) south-east of Cyprus, known as Block 12.

The energy chief said drilling would start by October 1 latest after which, in approximately two months time Cyprus will have a clear view of the size of its hydrocarbons reserves for that block.

The government will then proceed with a second round of licensing for other blocks in the region.

http://www.cyprus-mail.com/cyprus/drill ... 1/20110803

[EPSILON]

I'm afraid we'll start seeing a more aggressive political stance from Anatolia in respect to this find.
A dangerous one to be honest.
They'll be looking for excuses now...

If we continue to advertise this thing before same be fully operational ,we will get S300 out of the sea than gas/

[Jerry]

Effing cheeky bastards are claiming that "Greek Cyprus" is in breach of international law by drilling for gas/oil south of the island without TC consent

http://www.todayszaman.com/news-252634- ... otest.html

Greek Cyprus announced on Tuesday that drilling for hydrocarbons off the southern coast will start on the day Greek Cypriot's celebrate as their independence day, Oct. 1.

Greek Cypriot Energy Service Director Solon Kassinis said on Tuesday that drilling would start by Oct. 1 at the latest and that in two months' time the size of hydrocarbon reserves would be clear, the Cyprus Mail reported on Wednesday. Greek Cyprus is dependent on oil imports for energy generation and has opted to diversify with natural gas recently.

Greek Cyprus earlier licensed American Noble Energy to explore an 800,000-acre area bordering Israeli waters where massive gas fields were found under the seabed. Two fields, Tamar and Dalit, discovered in 2009, are due to start producing in 2012, and experts say their estimated combined reserves of 5.5 trillion cubic feet (160 billion cubic meters) of natural gas can cover Israel's energy needs for the next two decades.

Turkey objects to any Greek Cypriot search for oil and gas inside the island's 51,000 square-kilometer (17,000 square mile) exclusive economic zone off its southern coast, saying it also has rights and interests in the area. Meanwhile, Turkey is considering plans to start oil and gas exploration off the coast of Turkish Cyprus.

The Greek Cypriot energy chief also said last year that Noble Energy is obligated to begin drilling inside its Greek Cypriot block between October 2011 and October 2013. “The rig is in our region. It's now drilling in Israel's [offshore field] Noa and will reach our area at the end of September or early October,” he said, according to the report.

Greek Cyprus and Israel signed an accord last November demarcating their maritime borders that triggered strong reactions from Turkey, which called the deal “null and void” because it ignores the rights and jurisdiction of Turkish Cyprus on the divided island.

Cyprus was split into a Greek Cypriot south and a Turkish Cypriot north in 1974, when Turkey intervened in response to a coup by supporters of a union with Greece. Greek Cyprus joined the European Union in 2004, but only the internationally recognized south enjoys membership benefits. Turkey only recognizes Turkish Cyprus, where it maintains a military presence of 35,000 troops.

Noble Energy, along with its Israeli exploration partners, also has a license to explore another Israeli gas field, Leviathan, and they earlier described the Leviathan gas field prospect -- 130 km (80 miles) off the Mediterranean port of Haifa -- as the world's biggest gas find in the past decade.

Leviathan is estimated to have 16 trillion cubic feet (450 billion cubic meters) of gas. Tamar, a nearby site being drilled by Noble and Israel's Delek Energy, was the largest gas find in the world in 2009, at 8.4 trillion cubic feet.

In Ankara, Energy and Natural Resources Minister Taner Yıldız said the offshore drilling in what he called disputed area according to international law is not legal in Turkey’s view. “We don’t consider it normal and we reiterate that international law will work here,” Yıldız said. After the Turkish minister’s remarks, if Turkey will impose any sanctions or take steps to avert the drilling initiative remained unclear.

According to Yıldız, a process that will establish consensus [in exploration of reserves] also with adjacent countries to EEZs is not completed. The minister vowed that Turkey will stress that these works are not legal in every platform.

[Hermes]

“We don’t consider it normal and we reiterate that international law will work here,”

Er... which law is this? The law of the Turkish jungle?

[Jerry]

“We don’t consider it normal and we reiterate that international law will work here,”

Er... which law is this? The law of the Turkish jungle?

So, the Turks want international law to work at sea around Cyprus but not on the island itself. Their hypocrisy has no limits, what a bunch of two faced thieves. They want Cyprus's oil cos they are going broke.

[Nikitas]

Some important facts re the gas finds. Soon after they were discovered French President Sarkozy and German Chancellor Merkel visited Cyprus, as did Rusian President Medvedev. They did not come for the sunshine and commandaria. The energy market is about to change.

ALso remember that Germany has unilaterally rejected nuclear power, and renewables are not able to meet its energy demands. Germany needs gas and getting it from a fellow EU country is preferable to getting it from Russia or a non EU source.

Turkey will not be allowed to say shit over this find. It has already gotten much more of Cyprus than is warraned by the 18 per cent TC minority and in any case, the spot is too near Israel and Egypt. Neither they, nor their protector, the USA, is keen on having a self styled "regional power" expanding its neo ottoman visions to the energy sector. The US State Department has already told them to fuck off, politely, but the meaing was clear.

The other major energy field in the Med is south of Crete, clearly in Greek national waters, within the 12 miles, not the EEZ. As professor Foskolos said: "the reserves in the Aegean are crumbs compared to what is south of Crete". And additionally Greece will begin exploration in the west, in the Ionian Sea by the end of this year. If hydrocarbons are found there then Greece and the RoC together become major energy players in the EU.

The above might also explain the orders for LNG carrying ships by Greek shipowners recently.

While this is going on Turkey is planning pharaonic projects like the creation of a new Bosphorus, a nuclear plant in the TRNC, and a water pipe line. These are desperate attempts to balance the gas finds, but somehow they do not cut it.

[EPSILON]

"While this is going on Turkey is planning pharaonic projects like the creation of a new Bosphorus, a nuclear plant in the TRNC, and a water pipe line. These are desperate attempts to balance the gas finds, but somehow they do not cut it."

All my personal hopes about our problem (Greeks) with this nation is this feeling Turkish leadership gain when they feel that they are a "respectable power" in World's affairs.

So many years i am wishing them to go well in economics and to have some "success" in the area politics.Going back in history you can understand what i mean.

[Hermes]

Some important facts re the gas finds. Soon after they were discovered French President Sarkozy and German Chancellor Merkel visited Cyprus, as did Rusian President Medvedev. They did not come for the sunshine and commandaria. The energy market is about to change.

I think Hilary Clinton also made a point about American companies working on reserves in the Eastern Mediterranean when she visited Greece recently. And the Israelis are relying on Cyprus to act as a hub to Europe for its own reserves. As you say, the energy market is getting interesting.

[Kikapu]

Neither they, nor their protector, the USA, is keen on having a self styled "regional power" expanding its neo ottoman visions to the energy sector. The US State Department has already told them to fuck off, politely, but the meaing was clear.

You can also say the same about the oil fields in Kirkuk, Iraq, where the USA told Turkey to stay clear off those oil fields, hence the reasons why Turkey did not allow the US access to northern Iraq in 2003, despite being offered almost $20 Billion US Dollars for the privilege.