Archives for News

The Cyprus Employers & Industrialists Federation (OEB) Becomes EMC 2020 Partner

The Cyprus Employers & Industrialists Federation (OEB) is the most representative national employer organization, politically independent, with a mission to promote and support the benefits of Cypriot businesses in Cyprus, in the European Union (EU) and internationally. OEB is recognized by all official bodies, committees, councils, forums and institutions, as the leading institution and voice of Cypriot businesses. The statutory objectives of OEB include the continued economic and social progress of Cyprus, the country’s participation in decision-making bodies in the EU that affect the economy, the promotion of private initiative, the promotion of innovation, gender equality and female entrepreneurship and
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Categories: News.

Energean Seeks to Supply Natural Gas to Cyprus from Israel

Energean Oil & Gas said on Tuesday its Energean International unit submitted an application to import and supply natural gas to Cyprus starting in 2021. In its application to Cypriot authorities, it said it sought to supply gas through a pipeline from the Karish block offshore Israel to Vassiliko, Cyprus. The pipeline would be 215 km (135 miles) long and transport natural gas from the Karish North field, which contains 25 billion cubic meters of discovered recoverable resources. To read more and for the original article please click here.
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Categories: News and Uncategorized.

Oil Majors See Huge Opportunity In Eastern Mediterranean

Quite suddenly, there is remarkable oil industry news to come out of the East Mediterranean region. If the plan is executed, in the space of seven years the balance of energy security in Western Europe will be radically changed. In geopolitical terms, this will be immense; when the planned Israel-Cyprus-Greece-Italy gas pipeline is built, European countries will be able to cut their ever-increasing dependence on Russian gas supplies. The story of major gas discoveries in the East Mediterranean started in the shallow-water offshore Egypt, with Miocene Nile Delta discoveries progressively stepping out into deeper and deeper water. The first discovery
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Categories: News and Uncategorized.

Gas Deal is Great News but We Must Be Realistic

CONTRACTS for the first hydrocarbon exploitation licence were signed on Thursday and were described by energy minister Giorgos Lakkotrypis, as “another milestone in Cyprus’ energy programme”. It was the first real milestone of our energy programme because as we have learnt over the last few years, licensing rounds, surveys, exploratory drilling and discoveries of deposits might create big expectations, but until contracts for the exploitation of the findings are signed, their commercial value is theoretical. This is an illustration of the extremely slow pace at which the oil and gas industry moves. The discovery at the Aphrodite field in block
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Categories: News.

Cyprus Signs $9 Billion Gas Extraction Deal with Israel’s Delek & Other Firms

Nicosia inks its first agreement to develop massive offshore Aphrodite field, estimated to contain over four trillion cubic feet of fuel. Cyprus announced Thursday it had signed its first natural gas exploitation deal worth $9.3 billion with a consortium comprised of industry giant Shell, US-based Noble and Israel’s Delek. “Noble Energy, Shell and Delek now have in their hands the first exploitation license granted by the Republic of Cyprus so they can commercialize the deposit,” said Energy Minister George Lakkotrypis, shortly after the agreement was signed. The signing of the deal comes after the cabinet approved revisions to a production
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Categories: News.

Global Subsea Solutions Specialist Joins EMC 2020 – Introducing Oceaneering

We pleased to announce the latest addition to our line-up of supporters – Global subsea engineering giant, Oceaneering gives its backing to EMC 2020.  About Oceaneering: To solve your toughest challenges, we do things differently, creatively, and smarter. As your trusted partner, our unmatched experience and truly innovative portfolio of technologies and solutions give us the flexibility to adapt and evolve, regardless of market conditions. We provide engineered services and products primarily to the offshore energy industry. Today, we also use applied technology expertise to serve the defense, entertainment, material handling, aerospace, science, and renewable energy industries. For more information
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Categories: News.

Maritime Cyprus & the Ministry of Shipping Partner with EMC 2020

The “Maritime Cyprus” Conference is organised every two years by the Shipping Deputy Ministry in cooperation with the Cyprus Shipping Chamber and the Cyprus Union of Shipowners. It was first established in 1989 and since then, has grown into one of the world’s most significant and most attended shipping conferences. Its status now gives it a prominent position in the calendar of many shipping executives, including owners and managers as well as those in charge of organisations with shipping related activities. The “Maritime Cyprus” Conference attracts to Cyprus approximately 800 shipping executives from around the globe. For more information about
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Categories: News.

Schlumberger Becomes a Supporter of EMC 2020

Global oilfield services provider Schlumberger is the latest in a number of supporters to lend their support to EMC 2020!  About Schlumberger: Our story begins with what it truly means to be a technology innovator. Our common sense of purpose unites 105,000 people representing 140 nationalities with products, sales and services in more than 120 countries. We are the world’s leading provider of technology for reservoir characterization, drilling, production, and processing to a global energy industry.We believe energy makes society progress, so we find ways to help our customers fuel agriculture, industry, medicine, science, space, technology, and transportation. Few parts
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Categories: News.

Cyprus Signs Offshore Concessions

Cyprus signed a 25-year concession on Thursday with a three-member consortium for the exploitation of a gas reservoir south-east of the island first discovered in 2011. The contract with Noble Energy, Shell and Delek is the first commercial exploitation licence signed by the Mediterranean island. The Aphrodite field is thought to hold an estimated 4.1 trillion cubic feet (tcf) of gas. Cypriot authorities have said natural gas will start being extracted in 2025, with estimated earnings of 9.3 billion euros ($10.29 billion) over an 18-year period. Original Article
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Categories: News.

Introducing our Core Partners – the Cyprus Hydrocarbon Company

About the Cyprus Hydrocarbons Company (CHC) is the National Oil and Gas Company of Cyprus. It was established in March 2014. As a state-owned company, CHC has the mandate to act as the technical and commercial arm of the Government of Cyprus (GoC) on matters relating to exploration, production and monetization of Oil and Gas reserves from the Exclusive Economic Zone (EEZ) of Cyprus. Cyprus as a Business Hub: The geostrategic position of Cyprus has played a major role in shaping its history and contributed to its modern emergence as a key business hub in the Eastern Mediterranean. Cyprus has
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Categories: News.