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FACTDROP: Cyprus to define details of round


Cyprus to define details of round

Πηγή: upstreamonline
By News Wires
Nov 14 2011

Cyprus is now drilling for gas with its US partner Noble Energy in one of 13 offshore plots south of the island. Results from the exploration drilling should be ready in mid-December.

"Within the next few days I will be taking a proposal to the Council of Ministers for the start of preparations on the second licensing round," Energy Minister Praxoulla Antoniadou was quoted as saying by Reuters.

"I hope we will be ready with the documentation and other work by the end of the year."

Ethnically-split Cyprus has defied warnings from its northern neighbour Turkey not to explore for hydrocarbons. The two states have been at loggerheads since Turkey invaded Cyprus's northern third in 1974 after a brief Greek-inspired coup.

Turkey supports a breakaway Turkish Cypriot state in northern Cyprus and says hydrocarbons belong to both Greek and Turkish Cypriot communities of the island.

Antoniadou, whose formal title is commerce, industry and tourism minister, declined to specify how many blocks would be included in the new round.

Noble, which started exploration drilling in late September, should have indicative results by mid-December, she said.

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