Cyprus Mail

Hydrocarbons monetization is still decades away

The Turkish drillship Yavuz

If the licensees are unable to complete their work with speed and the government is not prepared to take back those blocks and re-license them, it only means monetization is decades away. Which also means that the government is not using the hydrocarbons as a source of revenue but only as a geopolitical lever with some vague objectives.

Why would you have any companies sitting on licenses for 7 years and then some additional extension years if the deposits are commercially viable? Exactly, because they are not economically viable and everybody knows this.

On the positive side, this makes TC and Turkish demands to share that which does not exist beyond ridiculous. And don’t make me say that the Turkish drilling threats are a total exercise in futily. If professionals can’t find commercially viable hydrocarbons then Turkish ships without the technical knowledge to drill can’t find anything either.


A view shared by AR

The gas companies would have worked within the contracted time if they believed the findings to be profitable. their delays is a clear sign that extracting gas at the current prices with the risks involved not is interesting enough

Lawmakers begin reviewing proposals to extend hydrocarbons’ licences


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