Cypriot Minister Paschalides Recently Announced that US-Based Noble Energy to Begin Drilling for Natural Gas in Cyprus



Minister of Commerce, Industry and Tourism Antonis Paschalides said that ``Noble Energy`` company would begin works to extract natural gas in late 2011 or early 2012 from one of Cyprus` plots.

Speaking after a meeting with Noble Energy representatives and the leadership of the Cyprus Energy Regulatory Authority, Paschalides said that the intention of Noble Energy was to begin extraction as soon as possible, and assured that ``all measures will be taken to make sure this happens.`` There is a possibility that this may happen before the end of this year, but for some reasons, it may begin in early 2012, he added.

``We look forward to further cooperation with Noble Energy for the extraction of natural gas from plot 12,`` Paschalides said. Referring to the meeting, he said it was ``very substantive`` and that all questions Cyprus had were answered. ``Of course everything will be evaluated and we are optimistic about the future course and the cooperation, concerning plot 12,`` he added.

Referring to Wednesday`s meeting between President of the Republic Demetris Christofias and the representatives of Noble Energy, Paschalides said that the President ``wanted to hear some figures from the experts themselves, as well as their plans for the area and for plot 12.``

Noble Energy Director of Easter Mediterranean Operations Chris Kendall said the plans of the company were presented during the meeting and noted that the company wanted to begin extracting natural gas the soonest possible, before the end of the year or the beginning of next.



(Posting date 01 April 2011)

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