Total E&P Cyprus Ltd has been granted a licence by for seismic exploration for oil and gas in block 10 and in parts of blocks 6, 7 and 11 of Cyprus’ Exclusive Economic Zone, it was announced on Friday.
The company will carry out a two-dimensional seismic survey using a specific type of vessels to locate hydrocarbons in the specific blocks, it said.
The licence is valid for three months, from February 1 until May 1, and can be renewed by the minister.
Preliminary results of a Noble Energy appraisal well for natural gas in Block 12 of Cyprus’ Exclusive Economic Zone estimate the hydrocarbon reserve between 3.6tcf and 6tcf with a gross mean resource of 5tcf. Noble Energy operates Block 12 with a 70 per cent working interest. Delek Drilling Limited Partnership and Avner Oil Exploration Limited Partnership each own 15 per cent. (CNA)