No 3rd license bid round Minister says priority is to find more natural gas.

Aphrodite gas field Block 12

Aphrodite gas field is an offshore gas field off the southern coast of Cyprus located at the exploratory drilling block 12 in the country’s maritime Exclusive Economic Zone. Located 34 kilometres (21 mi) west of Israel‘s Leviathan gas field, block 12 is believed to hold 3 to 9 trillion cubic feet (85×109 to 250×109 m3) of natural gas.

Noble Energy received the concession to explore block 12 in October 2008. In August 2011, Noble entered into a production-sharing agreement with the Cypriot government regarding the block’s commercial development. Sources in Cyprus indicated in mid-September that Noble had commenced exploratory drilling of the block.

Cyprus demarcated its maritime border with Egypt in 2003, and with Lebanon in 2007. Cyprus and Israel demarcated their maritime border in 2010. Turkey, which does not recognize the border agreements of Cyprus with its neighbors, threatened to mobilize its naval forces in the event that Cyprus would proceed with plans to begin drilling at Block 12. Cyprus’ drilling efforts have the support of the United States, European Union and United Nations, and on September 19 2011 drilling in Block 12 began without any incidents being reported.

According to Noble Energy, a total gross unrisked deep oil potential is 3.7 billion barrels (590×106 m3). The field has a gross mean average of 7 trillion cubic feet (200 billion cubic metres) of natural gas with an estimated gross resource range of 5–8 trillion cubic feet (140×109–230×109 m3).



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