American Company Noble Energy begins Drilling In Cyprus Offshore Field

American company ‘Noble Energy’ began last night drilling in block 12 in Cyprus’ Exclusive Economic Zone (EEZ), to explore and exploit the country’s sub-sea natural resources, Director of Energy Service at the Ministry of Commerce Solon Kassinis confirmed to CNA today.

Online PR News – 28-March-2012 – – Kassinis said that drilling takes place on a 24-hour basis and so far things are proceeding well.

Cyprus has signed an agreement to delineate the Exclusive Economic Zone with Egypt and Israel with a view to exploit any possible natural gas and oil reserves in its EEZ. A similar agreement was signed with Lebanon but the Lebanese Parliament has not yet ratified it.

Turkey, which occupies Cyprus’ northern part since it invaded in 1974, has threatened it would deploy warships in the Eastern Mediterranean, if drilling takes places prior to a political settlement in Cyprus.

Houston-based company Noble Energy has a drilling rig off Cyprus` southern coast. The company has a concession to explore for hydrocarbons in an offshore field in Cyprus` EEZ, south of Cyprus, known as Block 12.CNA