Minister of Communications and Works Efthimios Flourentzou assured Friday that “everything is going well“ in block 12 of Cyprus’ Exclusive Economic Zone, where Houston-based “Noble Energy” is carrying out exploratory drilling to find deposits of hydrocarbons. “Everything goes smoothly, everything operates smoothly, the work is going on, and we hope to have results soon,“ the Minister said answering a question.

Documents for 2nd licensing round being prepared

The documents that will form the basis of the Call for Interest in a second round of licensing for the remaining blocks of Cyprus’ Exclusive Economic Zone (EEZ) are currently being worked out, according to Minister of Commerce, Industry and Tourism, Praxoulla Antoniadou.

In statements to the press, in the margins of an event titled “Investment Opportunities in a Changing Greece”, organized here today by the Greek Embassy in Nicosia, the Minister said that by the end of December the documents will be sent to the EU for translation, and then they will be published in the official gazettes of the EU and the Government of Cyprus.

A three-month period will be given to interested companies, to prepare and submit their proposals, according to an EU Directive, Antoniadou explained. At the end of this period, the Ministry will process the Expressions of Interest submitted and will then proceed to negotiations on the basis of the criteria provided by the EU Directive and Cyprus legislation.

Antoniadou repeated that the results of the exploratory drilling, which commenced offshore Cyprus last September, are expected later in December, adding that a group of experts advises the President and the Government in relation to the broader strategic planning and particularly the issues relating to the infrastructure for the exploitation of the reserves likely to be found ashore Cyprus.