Cyprus to build LNG terminal for three Israeli oil companies
At its Vassiliko marina on its southern coast, the government of Cyprus has agreed to build a liquified natural gas terminal for Israel's
Noble Energy, Delek and Avner oil exploration companies (Hat Tip:
Joshua I).
The Cabinet approved a memorandum of understanding (MoU)
with Noble Energy International Ltd, Delek Drilling Limited Partnership
and Avner Oil Exploration Limited Partnership to build the LNG plant
near the Vassiliko energy hub on the island’s southern coast that will
process the output from offshore gasfields within the Cyprus exclusive
economic zone (EEZ), as well as from neighbouring Israeli and even
Lebanese gasfields for export.
Noble is currently conducting a second appraisal well within the
‘Aphrodite’ Block 12 on the south easternmost tip of the Cyprus EEZ,
adjacent to the Israeli EEZ where Noble, Delek and Avner are already in
the process of exporting natural gas output from the Leviathan field.
The U.S.-based exploration and energy exporter hopes to have a concrete
estimate of the size and value of Block 12 by early 2014. Initial
estimate suggest that the block may contain an average of 7 trillion
cubic feet of natural gas.
Energy, Trade and Tourism Minister Yiorgos Lakkotrypis said that the
agreement for the LNG plant will be signed by the end of this month.
Of course, there's almost no chance Lebanon will participate, at least so long as Hezbullah holds a veto in its government. But that's just fine....
Labels: Cyprus, natural gas, Noble Energy, oil and gas exploration
Israel finds another 1.2-1.3 trillion cubic feet of natural gas
Delek Group Ltd. and Noble Energy Inc. have announced that they have discovered
another 1.2-1.3 trillion cubic feet of natural gas off Israel's Mediterranean coast (Hat Tip:
Shy Guy).
Delek Group Ltd. and Noble Energy Inc. on Sunday reported a substantial natural gas discovery at a depth of 5,500 meters in the offshore Tanin 1 (Crocodile) well, 120 kilometers northwest of Haifa.
The Tanin discovery reportedly amounts to 1.2-1.3 trillion cubic feet, making it slightly larger than the two company's Yam Tethys reservoir, which is rapidly depleting. Delek Group owns its share of the Tanin license through Avner Oil and Gas LP and Delek Drilling LP.
The well discovered net gas-bearing strata 40 meters thick, on the basis of logging while drilling tests. Noble Energy is now stabilizing the borehole in order to conduct wireline, electrical, seismic, and magnetic tests, as well as logging tests of the composition of the natural gas, rocks, and liquids at the well.
The target strata, part of the Tamar sands structure, are divided into two prospects - Sand A and Sand B.
The Tanin well was drilled by the Ensco 5006 rig (formerly North America Pride rig), after it drilling the Dolphin 1 well for Noble Energy and Delek.
Hmmm.
Labels: natural gas, Noble Energy
More natural gas found off Israel's Mediterranean coast
Israel has discovered
another half trillion cubic feet of natural gas off its Mediterranean coast near the Tamar natural gas field.
A U.S.-Israeli energy consortium drilling in the eastern Mediterranean said on Sunday it found "initial indications" of natural gas at a field called Dolphin 1, although estimates have said it is much smaller than the nearby Tamar prospect.
Ratio Oil , one of the partners in the exploration group, reported to the Tel Aviv Stock Exchange that "initial indications" show the sands at the drill site, some 110 km off Israel's coast, contain natural gas.
The company said it was too early to determine the size of the gas layer and the quality of the reservoir. An earlier assessment provided by a consulting firm estimated that Dolphin 1 contained 0.55 trillion cubic feet of gas (tcf).
That is much smaller than the nearby Tamar field, discovered in 2009 to have 8.4 tcf of gas, which sparked an exploration frenzy in the eastern Mediterranean's Levant Basin.
...
Texas-based Noble Energy has a 39.66 percent stake in the Dolphin prospect. Avner Oil and Delek Drilling each own 22.67 percent. Ratio Oil owns 15 percent.
The same group made the world's largest off-shore discovery of the past decade at the Leviathan site last year, which is estimated to have 16 tcf of natural gas.
Hmmm.
Last week, Turkey threatened to prevent Israel from exporting natural gas to Europe. I doubt they can make good on that threat. Heh.
Labels: Mediterranean Sea, Noble Energy, oil and gas exploration
Turkey begins exploring for gas in Cypriot territory
Risking a confrontation with Cyprus, Israel and possibly even the United States, Turkey has sent a ship to start
exploring for natural gas in Cypriot territorial waters.
A Turkish ship began exploring for gas off the coast of Cyprus on Monday, the Turkish Cypriot government said, an announcement that escalates a confrontation between Cyprus, Israel and Turkey over huge Mediterranean gas reserves.
The Greek Cypriot government said last week it had started drilling for gas at a site south of the island, infuriating Turkey which supports a separate Turkish Cypriot government on the north of the island.
...
On Monday, Turkish Cypriot Prime Minister Irsen Kucuk said a Turkish exploration vessel had started exploration. He did not give the exact location, but said the Piri Reis ship was working in "the AR/KKTC/G authorized zone". KKTC is the Turkish abbreviation for the Turkish Republic of Northern Cyprus.
A Greek Cypriot defense source said the Piri Reis was sailing in international waters south of the island earlier on Monday, about 80 km (50 miles) from the Noble Energy gas rig and between two plots Cyprus has mapped out for future exploration. The Piri Reis left the Turkish Aegean port of Izmir on Sept. 23.
Cyprus has 12 plots in all, but has given a concession to just one at the southernmost point of its maritime economic exploitation zone (EEZ).
Turkey occupies northern Cyprus and has since 1974.
Cyprus has been divided since 1974 into a Greek side recognized internationally and a Turkish region recognized as a separate state only by Turkey. Peace talks between the sides are due to resume on Tuesday.
Turkey insists no gas should be pumped until the island's fate is resolved. Turkish Prime Minister RecepTayyip Erdogan last week called the Israeli and Cypriot gas drilling "madness".
And for those who have forgotten, here's why the US is also involved in this.
Tension rose after Cyprus announced last week that drilling had started offshore, close to a gas field in Israeli waters. Texas-based Noble Energy is carrying out the drilling in the Cypriot block and also drills for Israel.
Turkey has said it will drill on behalf of Turkish Cyprus if the Greek Cypriots do not abandon their plans. The Greek Cypriot government says it has a sovereign right to explore for energy.
Erdogan isn't just seeking war with Israel - he is apparently seeking a world war.
Labels: Cyprus, Noble Energy, Recep Tayyip Erdogan, Turkish occupation of Cyprus
Turkey threatens Cyprus, Noble Energy
Turkey is now
threatening the legitimate government of Cyprus and American-based Noble Energy over their plans to explore the Cypriot coastline for oil and gas.
Turkey called on Monday for the Greek Cypriot government to immediately halt gas exploration work off Cyprus with Texas-based Noble Energy and said Turkish naval ships could escort Turkish energy exploration ships in the Mediterranean.
Turkish Energy Minister Taner Yıldız told reporters that a planned agreement between Turkey and Turkish Cyprus setting out maritime boundaries would result in the Turkish Petroleum Corporation (TPAO) effectively having a presence in the waters off of northern Cyprus.
Yıldız said the agreement was ready to be signed, and added that the TPAO could start gas exploration in the Mediterranean as early as next week.
"We can say that Turkish naval ships may escort Turkish seismic ships doing exploration in the Mediterranean Sea," Yıldız said.
Texas-based Noble Energy, under license from the Greek Cypriot government, is expected to start exploratory drilling imminently on a block southeast of the island, despite protests from Turkey which say any reserves around the island belong not only to Greek Cypriots but also Turkish Cypriots.
The involvement Noble, which already sent a rig to the area, further complicates the problem for Turkey.
"Our wish is that we do not reach such a point, and that the work they are undertaking with Noble comes to an end before it even begins," Yıldız told reporters.
Turkey had discussed the issue with US officials, but not with the company itself, Yıldız said, adding the risks for the company are considerable. "I do not think they will undertake such a work in such a risky area, from a technical and a feasibility point of view," said Yıldız.
In those days, when the World's only superpower was led by a wimp, each country did whatever the hell it damned pleased. What could go wrong?
Labels: Cyprus, Noble Energy, oil and gas exploration, Turkey, Turkish occupation of Cyprus
Noble Energy disses Turkey
US-based Noble Energy says that it will ignore threats from Turkey and begin exploring for oil and natural gas
off the coast of Cyprus.
Noble Energy Inc. (NYSE: NBL) says that it will push ahead with its Cypriot offshore exploratory well at Block 12, in spite of warnings from Turkey not to do so. Block 12 adjoins Israel's Leviathan field.
The "Cyprus Mail" says Cyprus is stuck between a rock and a hard place in the Turkish-Israeli dispute. If President Demetris Christofias chooses to push ahead with drilling, he is essentially calling Turkey’s bluff. Failure to do so effectively acknowledges Turkey’s dominion over the island.
"Cyprus Mail" says that the heightened tension between Israel and Turkey comes on the back of repeated warnings by Turkish officials against Cyprus drilling in its exclusive economic zone. While some commentators believe the feud with Israel may be used as a pretext to build up naval patrols in seas between Israel and Cyprus, at a time when both latter countries are discussing collaboration on the extraction and distribution of hydrocarbon deposits in their respective marine zones, the paper says that current diplomatic thinking in the region is that Turkey has more important issues to contend with than create serious problems for the island.
Energy Service head Solon Kassinis told the "Cyprus Mail" that he expects drilling to start before October 1. Noble Energy will use the Homer Ferrington rig currently drilling in the Noa field offshore from Ashkelon in Israel’s exclusive economic zone.
Kassinis said, “I expected Turkey to bark but I don’t think they will do anything because what we’ve done is based on international law, and if they want to be considered a country that respects international law, when it has a network of (oil and gas) pipe lines, charging transit fees, how can it?"
Kassinis added that any fears from Noble Energy have been assuaged by the US Embassy in Nicosia which has told the company to go ahead and expedite the exploration process.
This should be interesting. My guess is that Turkey does nothing because they won't tangle with the US, but given that Obama is President, anything is possible.
Labels: Cyprus, Noble Energy, oil and gas exploration, Turkey
Turkey warns Greek Cypriots about exploiting Mediterranean oil resources
Israel is not the only country being threatened by the off-the-wall Turks. Turkey has
threatened Cyprus again as well.
Turkish EU Minister and Chief Negotiator Egemen Bağış has issued a warning to the Greek Cypriot administration, saying that Turkey will not hesitate to deploy war ships in the Mediterranean if Greek Cypriots enter Turkish terrestrial waters during their oil exploration efforts in the Mediterranean, scheduled to start on Oct. 1.
Saying that Turkey has sent naval vessels to the area in cases like this before, Bağış added, “This is what we have the navy for.”
Anyone want to bet what the Obama administration will do if Noble Energy (the US company that is doing the drilling) has a boat attacked? I know they'd love to sit by and 'lead from behind' but I don't think they can get away with that if there is a direct attack on an American ship a year before a Presidential election where Obama is running.
Hmmm.Noble
Labels: Noble Energy, oil and gas exploration, Turkish occupation of Cyprus
US gives Turkey a two-word answer on Cyprus
You will recall that Turkey demanded that Noble Energy, a US company, not drill for oil off the southern Mediterranean coast of Cyprus because Turkey occupies the northern portion of that country. Turkey demanded that the US
stop Noble from drilling. That demand was so ridiculous that
even the Obama administration said no.
“I am not about to give advice to American companies,” U.S. Ambassador to Turkey Frank Ricciardone said in response to a question about whether Washington would urge Noble Energy to stop natural gas exploration in the eastern Mediterranean.
Ricciardone only said that Washington would continue supporting Cyprus reunification talks.
The top U.S. envoy made the comments at a press conference with Turkish Minister of Energy and Natural Resources Taner Yıldız.
“We are aware of Turkey’s stance on this. Regarding the solution in Cyprus, as always, we continue to support the efforts from both parties,” said Ricciardone.
Yıldız told journalists that the situation was not right, and that they did not want any added tension in the region.
No, of course this isn't over yet. As usual, Turkey is convinced of the righteousness of their cause, and will probably take it up with Clinton and Obama.
What could go wrong?
Labels: Cyprus, Noble Energy, oil and gas exploration, Turkish occupation of Cyprus
Turkey urges US to 'act responsibly' regarding Cyprus
George W. Bush would have had a two-word response to this type of demand by a third-rate power. But in the Age of Obama, the United States will likely allow itself to be humiliated.
Turkey is demanding that the United States '
act responsibly' and not allow Noble Energy, an American corporation, to begin oil exploration off the coast of Cyprus by October 1. Part of Cyprus has been occupied by Turkey since 1974, an occupation that is recognized by... Turkey (Hat Tip:
Joshua I).
Greek Cyprus recently announced that it would begin drilling for oil and gas off the island's southern coast on Oct. 1. It earlier licensed American Noble Energy to explore an 800,000-acre area bordering Israeli waters where massive gas fields were found under the seabed.
Turkey objects to Greek Cypriot hydrocarbon drilling in the eastern Mediterranean, saying this is in violation of the rights and interests of the Turkish Cypriots, who run their own state in the north of the island. Earlier this month, Turkish Foreign Minister Ahmet Davutoğlu warned the Greek Cypriot government against drilling hydrocarbons in the Mediterranean, saying Ankara will show the “appropriate reaction” if Greek Cyprus moves ahead with exploration plans.
Ankara now seeks US action in the dispute as well, according to private NTV television station. It said Ankara wants the US administration to warn the American companies against taking part in the Greek Cypriot initiative to explore gas and oil deposits in the Mediterranean. NTV also said Turkey seeks to bring the issue to the attention of the UN Security Council, contacting members of the 15-nation body on the dispute.
As I said, George W. Bush would have had a two-word response to such a demand. But Obama? He's going to await a UN decision.
What makes this dicier is that both the US and Turkey are members of NATO, a mutual defense organization. What if Turkey attacks Noble Energy's employees? What if the US attacks Turkey in response? (I know - little chance of that under Obama). Whose side does NATO take?
What could go wrong?
Labels: Cyprus, Noble Energy, oil and gas exploration, Turkey, Turkish occupation of Cyprus
$95 billion in natural gas discovered off Haifa coast
A joint US - Israeli drilling project has discovered
$95 billion worth of deposits of natural gas off the Haifa coast.
The largest reserve of natural gas, over 16 trillion cubic feet, has been discovered off the coast of Israel, and is estimated to be worth more than $95 billion, U.S. company Noble Energy Inc. announced on Wednesday.
Noble Energy owns 39.66% of the prospective discovery, alongside Israeli partners Delek Group Ltd. units Avner Oil and Gas LP and Delek Drilling LP (22.67% each), and Ratio Oil Exploration (1992) LP with 15%.
The reserve, Leviathon, is the largest amount of natural gas discovered in the world in the last decade and is located in approximately 5,400 feet (1,645 meters) of water, about 130 kilometers offshore of Haifa and 29 miles (47 kilometers) southwest of the Tamar discovery.
Last year, Israeli company Isramco announced that reserves of natural gas have been discovered at its Tamar 1 offshore drill site 90 kilometers west of Haifa, making it the largest ever discovered in Israel until now - three times bigger than that of the "Yam Thetis" consortium and worth $15 billion.
Noble Energy CEO Charles Davidson said, "Leviathan is the latest major discovery for Noble Energy and is easily the largest exploration discovery in our history."
CEO of Delek Group Yoram Turbowitz said "it is a sense of success mixed with worry and concern, that we will not be able to utilize the huge discovery in our hands to its limits.
He added: "I hope that the strategic advantage and the enormous accomplishment that we have made here due to large financial and professional knowledge invested will be utilized to its fullest."
"Obviously we need to produce something from the Leviathon reserve, but it will demand enormous investments in infrastructure," he said, adding that "the state will need to assist with regulations, planning and accompanying what will become the largest infrastructure project in the country."
Noble Energy president and COO David L. Stover said, "This discovery has the potential to position Israel as a natural gas exporting nation. For nearly a year now, we have had a team evaluating market possibilities, which includes various pipeline and LNG options. It's our belief that the natural gas resources at Leviathan are sufficient to support one or more of the options being studied. We are excited to be leading the exploration and development in this new basin and look forward to determining the best development option."
This was the lead story on all of the nightly newscasts. It's very significant for us economically. It should lower energy costs and make us energy independent for many years to come.
Labels: energy independence, Leviathon well, natural gas, Noble Energy
