Cyprus News Agency: News in English, 07-02-15
CONTENTS
[01] OIL EXPLORATION - FIRST PHASE
[01] OIL EXPLORATION - FIRST PHASE
The first Licensing Round Offshore Cyprus to grant licences to explore
and develop hydrocarbon deposits begins formally here Thursday.
An official press release says that ``the Licensing Round is based on
the PGS MC2D CYP - 2006 acquisition, which involved 6,770 line-km of
seismic data covering an area of approximately 70,000 sq. km over the
Eratosthenes structure, the Levant Basin and the prolific Nile Delta.``
The survey was made available in November, 2006 and ties all the wells
in the Deepwater NEMED Block in Egypt, it explains.
Also, an Interpretation report has been prepared by Beicip-Franlab,
Consultants to the Ministry of Commerce, Industry and Tourism, which is
currently available for purchasing.
Egyptian Minister of Petroleum Amin Samir Fahmi arrived here today to
attend the official opening ceremony.
Nicosia has signed two agreements with Cairo and Beirut relating to the
exploration and exploitation of oil and natural gas deposits in the
Eastern Mediterranean basin.
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