Cyprus, Noble Energy to start drilling in February

Houston-based Noble Energy is gearing up to start appraisal drilling in February 2013, Financial Mirror reports quoting Under Secretary to the President Titos Christofides as saying. The drilling will start in the 7 trillion cubic foot gas discovery, in Aphrodite block, in Cyprus' Exclusive Economic Zone (EEZ). Christofides was addressing the Economist Conference, which concluded yesterday in Nicosia, on "Recent Status of Energy Exploration in Cyprus". John Tomich, Cyprus County Manager of Noble Energy, was also one of the speakers. In his speech, Christofides said that energy issues are now very significant on the island, as Cyprus is now on the energy map, following natural gas reserves located in Aphrodite block. He said the government aims to strengthen Cyprus on a geostrategical and geopolitical level, creating a third energy corridor, and to introduce natural gas on the island. Christofides also told delegates that the government has decided to create a liquefied natural gas terminal on the island by 2019, something which will become the biggest investment in the island's history, at an estimated cost of 7-10 billion euros.