Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Cyprus Secures 15 Bids for Gas Exploration

change text size
Cyprus Secures 15 Bids for Gas Exploration

NICOSIA - Cyprus said Friday that 29 companies had made 15 bids for exploratory drilling in a second round of licensing to exploit offshore oil and gas deposits despite strong objections from Turkey.

Commerce Minister Neoclis Sylikiotis said the results in the bidding, which closed on Friday, were "beyond expectations."

Bids were submitted from 10 consortia and five companies from 15 countries. Among the companies were Total S.A., Petronas Gas Bhd, KOGAS, Delek Group Ltd., ATP Oil & Gas Corp., Novatek, Petra Petroleum Inc. and Vitol.

A final decision on the contracts is expected to be taken by the cabinet within the next six months on the tenders, which covered 12 of 13 total blocks.

U.S. firm Noble Energy had already been awarded Block 12 and announced last year that it discovered gas reserves of up to 226.5 billion cubic meters, which has an estimated value of $129 billion.

This would satisfy the island's domestic gas needs for decades.

Media reports predict there could be greater riches, not only of gas but also of oil, in the blocks adjacent to Block 12.

Copyright (c) 2012 Dow Jones & Company, Inc.

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
 Company: ATP Oil & Gasmore info
 - Cosco Reveals Buying Interest for Octabuoy Hull and Topside Module (Jul 23)
 - North Sea's Blythe, Skipper Assets Get 3-Month Extension (Dec 11)
 - Struggling for Cash, ATP Abandons Gomez Oil Drilling Field (Jun 13)
 Company: Total S.A.more info
 - Total Delays Bulgaria Exploration Citing Oil Price Tumble (Dec 16)
 - Executive Says: Permit Delays Slow Total's Brazil Drilling Plans (Dec 15)
 - Total Restructures Exploration and Production Business (Dec 10)
 Company: Petronasmore info


 - Skilled Oil, Gas Workers Needed by Petronas if BC LNG Terminal Approved (Dec 16)
 - Petronas to Boost Training Enrollment at Instep, Unfazed by Oil Prices (Dec 12)
 - Malaysia's Petronas Says Open to Selling Assets in Africa (Dec 11)
 Company: Kogasmore info
 - Court Reviewing Arrest Warrant Application for KOGAS CEO (Dec 18)
 - Santos GLNG Installs Final Module for LNG Train on Curtis Island (Nov 7)
 - Santos GLNG Project Moves Closer to First LNG in 2015 (Nov 5)
 Company: Novatekmore info
 - Stage Two of Russia's Urengoyskoye Field Launched (Dec 17)
 - First Stage of Urengoyskoye Field Reaches Full Capacity (Dec 11)
 - Russia's SeverEnergia Launches New Gas Production Stage (Sep 15)
 Company: Vitol GPC Investmentsmore info
 - Cyprus Secures 15 Bids for Gas Exploration (May 11)
 - Bowleven Agrees to Option Agreement Extension for Etinde Permit (Apr 1)
 - US House OKs Bill Targeting Cos Invested in Iran Energy Sector (Oct 15)

Most Popular Articles
From the Career Center
Jobs that may interest you
Learning and Development Consultant
Expertise: Business Development, Research & Development
Location: US
 
Project Manager
Expertise: Construction Manager, Project Engineer, Project Management
Location: Billings
 
Strategic Account Manager
Expertise: Business Development
Location: Oklahoma City, OK
 
search for more jobs