Cyprus-Forum.com

[kimon07]

Let's forget the drilling costs, extraction, processing and then either subsea pipeline or LNG facility .... All of which cost billions.....

But when Cyprus is saying it would be making 1bln NET PROFIT, don't they mean after all those expenses? i.e., what would be left from the sales price after all the overheads, extracting and transport costs etc?

[kimon07]

Let's forget the drilling costs, extraction, processing and then either subsea pipeline or LNG facility .... All of which cost billions.....here's just 1 of many reasons why expediency Is absolutely necessary -

https://www.trans-adriatic-pipeline.com ... ticle/414/

Gaz de France and Eon have already signed deals to buy this gas travelling across Anatolia into the Balkans alongside gas companies from Bulgaria , Italy , Switzerland AND Greece.

Turkey doesn't need its own gas ..... It has its greasy mits on the pipe and a great deal with a neighbouring friendly country..... Now add the distinct possibility of Israel " going its own way" and developing export facilities from leviathan ... Which incidentally is already producing gas !

All this before Cyprus extracts any useable gas and is years away from export facilities ........ NOW consider Qatar , Petronas and VERY soon the USA with massive export facilities ....... If Cyprus procrastinates and allows the political instabilities of the region to delay entry to the market ...... It'll be turning up at the market with the oldest oranges in the basket

SO you are saying that all the foreign giants who will be spending millions to get licenses in the CY EEZ and then more millions to drill, extract CY gas and transport it to Europe or elsewhere, one way or the other, are bidding for rotten oranges?

[Demonax]

A positive take on the recent announcement of the size of Aphrodite gas field:

In aggregate, the first exploratory well gas estimates are subject to considerable deviations.

Good news also surrounds the Aphrodite gas field. Usually companies resort to further appraisal wells when there are strong indications as to the existence of additional gas (also known as reserves growth).

It is also of paramount importance that the gas field can be converted from a resource into a proved reserve (with a 90 per cent probability of being extracted).

Furthermore, 3D seismic acquisitions conducted on behalf of Noble in Block 12 have identified some eight other hydrocarbon plays (prospective gas fields) some of which are believed to contain about 1 to 2 tcf of natural gas.

Another positive development is the fact the Aphrodite field consists of dry gas (about 98 per cent methane) which requires minimal processing before being pumped onshore.

Whatever the outcome, the Cypriot exclusive economic zone remains largely unexplored. More promising hydrocarbon discoveries are in the pipeline. The recent discovery of oil offshore Ashdod, in Israel, adds to the climate of euphoria.

Tracing oil in the Cypriot EEZ is probably a matter of time. Being second-time lucky will forever alter Cyprus’s future and will turn the tide in our favour. In the meantime, positive thinking and patience will prove invaluable.

http://cyprus-mail.com/2013/10/13/expla ... gas-field/?