Block 2 – Granted in January 2013
Block 3 – Granted in January 2013
Block 5 – Granted in December 2021
Block 6 – Granted in April 2017
Block 7 – Granted in September 2019
Block 8 – Granted in April 2017
Block 9 – Granted in January 2013
Block 10 – Granted in April 2017
Block 11 – Granted in February 2013
Block 12 (Aphrodite) – Granted in November 2019
“Aphrodite” Natural Gas Field
In June 2015, the licensee of Block 12 declared the “Aphrodite” natural gas discovery as a commercial field, and submitted subsequently the relevant Development and Production Plan. Current natural gas resource estimate is in the order of 4.5 trillion cubic feet (best estimate).
With regard to the monetisation of the natural gas, the licensee of Block 12, in collaboration with the Ministry of Energy, Commerce and Industry (MECI), concluded that the most economic viable option, taking into account the existing financial and commercial conditions, is to sell the “Aphrodite” gas to Egypt via submarine pipeline.
The discussion between MECI and the licensee of Block 12 on the agreement concerning the Development and Production Plan of the “Aphrodite” field completed and the first Exploitation Licence in Cyprus was granted to the Aphrodite Field Contractor.