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Cyprus Aphrodite gas field to benefit from Israel Leviathan delays

Noble and Delek ready to declare Aphrodite viable

The US-based company Noble Energy (Noble) and its Israeli partner Delek Group (Delek) are nearing the point to declare the Aphrodite gas field in the Block 12 offshore Cyprus Island in the southeast of the Mediterranean Sea commercially viable.

In August 2007, Noble acquired the Block 12 during the first license round organized by the Cyprus Government.

At that time it was the only Block that has been sanctioned from this first license round.

Cyprus_Aphrodite_FPSO_MapThrough the Block 12 Noble and Delek share Aphrodite working interests is such a way as:

 – Noble 70% is the operator

 – Delek 30%

This Block 12 is strategically located in the Cyprus territorial waters as adjacent to Israel territorial waters Levantine Basin.

In September 2011, Noble and Delek started the exploration of the Block 12 and discovered the Aphrodite gas field.

In parallel, the discoveries of the Dalit, Tamar and Leviathan gas fields on the Israel side of the Levantine Basin confirmed all the potential reserves of this region of the Mediterranean Sea.

Aphrodite is located approximately 170 kilometers southeast of Cyprus Island and is estimated to hold 4.5 trillion cubic feet (tcf) of gas.

This geographic position gives Aphrodite a strategic dimension as it is also about at the same distance of 200 kilometers from Israel and Egypt coast lines.

In these conditions, Noble and Delek can expect to export Aphrodite natural gas to multiple countries in the region in addition to Cyprus domestic market.

Noble and Delek mull over Aphrodite FPSO concept

Neighboring Leviathan, Noble and Delek were expecting to develop Aphrodite in following the giant Leviathan gas field development in order to benefit from its planned large infrastructures.

But in the meantime Israel Parliament publish a new regulation against natural gas resources monopoly and putting aside any Leviathan development any time soon.

Cyprus_Aphrodite_FPSOEven if Aphrodite is not as large as Leviathan this natural gas field located in the Cyprus territorial waters provide Noble and Delek with the opportunity to get some payback from their exploration efforts in the region.

In February 2015Noble and Delek signed with Egypt Authorities a  memorandum of understand (MOU) by which they could export gas from Aphrodite or Leviathan offshore fields to Egypt.

This agreement comes in addition to the previous non-binding MOU signed in October 2014 between Noble and Egypt industrial companies to supply up to 250 million cubic feet per day (cf/d) natural gas through Israel.

To do so, the existing East Mediterranean Gas Company (EMG) pipeline to supply Israel from Egypt should be converted to operate in bi-directions.

In order to export Cyprus gas to Egypt, Noble and Delek are considering to develop Aphrodite as a stand alone project.

In that respect, Noble and Delek are working on the concept of Aphrodite floating, production, storage, and offloading (FPSO) vessel.

The Aphrodite FPSO should be designed with a 800 million cf/d capacity of natural gas.

Then this gas could be export via pipeline to Egypt directly for liquefied natural gas (LNG) conversion or througth Israel Natural Gas Lines (INGL) pipelines system.

Assuming Noble and Delek to submit their declaration for commercial viability to Cyprus Authorities on second half 2015, the design of Aphrodite FPSO could start in 2016.

For more information about oil and gas and petrochemical projects go to Project Smart Explorer

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