Offshore staff
LONDON – Cyprus’ national oil and gas company, Cyprus Hydrocarbons Co. (CHC), has appointed Lloyd’s Register as independent commercial advisor for its commercial exploitation of hydrocarbons in the exclusive economic zone (EEZ) of the Republic of Cyprus.
Phil Edwards, consulting director of Lloyd’s Register’s energy business, said: “Our work includes a number of activities such as assisting CHC in realizing its options and strategies for successful development of the EEZ, and crucially assisting in hydrocarbon sale discussions and agreements with upstream operators and partners active in the Cyprus EEZ.”
The three-year contract, with extension options, started last month.
As a state-owned company established in 2012, CHC has the mandate to act as the commercial arm of the government of Cyprus on matters concerning development, production, and monetization of oil and gas resources from Cyprus’s 15,000-sq km (5,792-sq mi) EEZ.
Tekmor Monitor Note: The declared Exclusive Economic Zone of Cyprus covers about 51.000km2 and is divided between 13 exploration blocks. Block 12 where the Aphrodite field lies is 3.200 sq.km. Individual blocks range in area from 1436 to 5728 km2 and are 11 to 178 km from Cyprus. Water depths range from 248 to 2866 m. The total EEZ of the Republic of Cyprus is over 70.000 sq.km. The article refers to the area of blocks 6, 8 and 10, included in Cyprus' 3rd licensing round currently in progress.
This currently includes 13 exploration blocks to the south of the island, which could hold up to 60 tcf of gas. If proven, much of this resource would likely be exported.
Cyprus’ strategic geographical location at the crossroads between Europe, Asia and Africa makes it well suited to serve as an energy supplier to the Eastern Mediterranean region, Lloyd’s added.
09/07/2016
SOURCE
Cyprus’ strategic geographical location at the crossroads between Europe, Asia and Africa makes it well suited to serve as an energy supplier to the Eastern Mediterranean region, Lloyd’s added.
09/07/2016
SOURCE
